Spotlight on Business Archives - Page 2 of 3

6 Ways to Improve Profits and Combat Inflation

Posted by Wanda Lenoir
On April 19, 2023
6 Ways to Improve Profits, Cutting Edge Products Magazine, Improve Profits and Combat Inflation, Spotlight on Business, Wanda Lenoir

Although inflation is gradually dropping, interest rates are rising. So, consumers are being squeezed on both ends. The same is true for store owners. It will take dedicated actions to reduce inflation pressure on retail sales. It's critical to get the wheels moving now rather than later.

Promoting Sustainability is Essential to Selling to Younger Pet Owners

Posted by Wanda Lenoir
On April 3, 2023
Cutting Edge Products Magazine, Selling to Young Pet Owners, Spotlight on Business, Wanda Lenoir

Retailers selling pet food-related products that enhance the well-being of household pets across the country should be aware of sustainability, humanization, and premiumization in increasing sales. These factors directly correlate to the growing popularity of organic foods, supplements, clean protein, and the vegan pet market. Understanding what motivates buying decisions

Ideas for Building a Stronger B2B Customer Relationship

Posted by Wanda Lenoir
On March 20, 2023
Cutting Edge Products Magazine, Ideas for Building a Stronger B2B Customer Relationship, Spotlight on Business, Wanda Lenoir

Servicing other businesses can significantly increase revenue and open the door to other opportunities. While every customer is an asset, the financial stakes are even higher when maintaining a relationship with professionals, companies, schools, and government agencies. These relationships can be demanding and complex since multiple individuals may be involved in the procurement process. These are valuable contacts, with each touchpoint being an opportunity to demonstrate your expertise in customer service.

Focus on Moving Your Business to the Next Level of Success

Posted by Wanda Lenoir
On February 27, 2023
Cutting Edge Products Magazine, Focus on Moving your Business, Spotlight on Business, Successful Retailers, Wanda Lenoir

Successful retailers develop a comprehensive strategy and execute it based on the plan. Independent hardware stores and home centers are unique businesses catering to specific customer segments. Owners have no desire to operate scaled-down versions of Walmart or Home Depot—they are proud to be authentically different. Thriving businesses should continually look for growth opportunities

Personalize Service to Reflect Generational Preferences

Posted by Wanda Lenoir
On February 14, 2023
Cutting Edge Products Magazine, Personalize Service to Reflect Generational Preferences, Spotlight on Business, Training Employees, Wanda Lenoir

Consumers have expectations about the service they want to receive. For some generations, it's higher than others. However, what's required to deliver an exceptional shopping experience continues to evolve, placing greater demands on retailers. Businesses often assume customers are happy with their service if they receive few complaints. Staff members are trained to manage challenging

Why is Training Employees a Challenge for Retailers?

Posted by Wanda Lenoir
On January 27, 2023
Cutting Edge Products Magazine, Hardware Industry Hiring, Spotlight on Business, Training Employees, Wanda Lenoir

Training new employees require a substantial investment of time and resources before they can contribute to the business. A survey conducted by the National Federation of Independent Business (NFIB), reveals that training is a challenge for small business owners for a variety of reasons that are within or beyond their control.

Going to Trade Shows Help Independents Compete

Posted by Wanda Lenoir
On January 27, 2023
Cutting Edge Products Magazine, Spotlight on Business, Trade Shows, Wanda Lenoir

Going to the next Market? Independent retailers who regularly attend home improvement events have seen the industry change in the past four years. Various functions once performed manually, are now digital to enable transactions to be completed in real-time. The options for attending events have greatly expanded. Rather than flying or driving to conventions,

Shoppers Want In-Store Experience to Compare to Buying Online

Posted by Wanda Lenoir
On January 20, 2023
Cutting Edge Products Magazine, In Store Experience, Spotlight on Business, Wanda Lenoir

Shopping in physical stores has come back since consumers are eager to see, smell, and touch the merchandise. Online sales are dipping slightly after reaching record highs last year. However, people are now accustomed to the digital enhancements

Think SMART to Maximize Marketing

Posted by Wanda Lenoir
On January 20, 2023
Cutting Edge Products Magazine, marketing plan, Spotlight on Business, Wanda Lenoir

Increasing sales requires making marketing a high priority on your to-do list. Home Improvement retailers who take a SMART approach to marketing understand the important role it plays in maximizing profits. Developing a structured marketing plan, rather than holding a series of random promotions

8 Ideas to Prepare your Business for the New Year

Posted by Wanda Lenoir
On January 19, 2023
2023 Goals, Cutting Edge Products Magazine, Spotlight on Business, Wanda Lenoir

Successful home improvement retailers are forward-thinking and create a game plan for their team to follow. Since the new year is less than a week away, start with the basics. Create a checklist that identifies tasks that need to be accomplished to grow the business, motivate your team, and keep customers shopping at your store.

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