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Posts Tagged ‘brick and mortar’

Balancing Retail Inventory: Making Friends With Clearance

clearance retail salesClearance. A fresh start that makes way for new inventory in your store.

Many retail merchants tiptoe around inventory markdowns, and it is unnecessary. Your money is already gone; holding on to it just ties you to the past.

But many retailers feel that they must get back whatever they paid for their inventory, no matter how many years ago the merchandise first arrived in their store. This thinking is murder on their cash flow.

Other retailers feel there will always be a demand for a part or accessory to a model or product, even if that product is no longer sold. Continue reading Balancing Retail Inventory: Making Friends With Clearance »

5 Trends That Will Cause Bricks and Mortar Retailers To Lose Sleep in 2013

retail sales trendsAs a retail expert, I’m often asked for comments on retailing, retail sales training and yes, trends. That’s because there is so much chatter in the media about consumer behavior, technology and constant surveys that the bigger trends are lost.   Last year’s list was so popular I came up with ten retail sales trends for 2013.

Here are the first five, if you want to read all ten, you can click here and enter a bit of information and receive them without charge.

As the economy heats up, so will your competition. Continue reading 5 Trends That Will Cause Bricks and Mortar Retailers To Lose Sleep in 2013 »

Independent Retailers: How To Pitch Your Small Business Saturday Success To Reporters

retail sales pitchThe holiday weekend retail sales total increased 12.8 percent according to the National Retail Federation. Whoo-hoo!

Yet while brick and mortar retail still represent roughly 91% of total sales, and e-commerce only about 9%, you’ll hear mostly about e-commerce sales rising 20, 30, and even 40% over last year.

And you’ll hear practically nothing about independent retailers’ successes.

Don’t let them get away with that.

Here’s how to leverage your participation and success in American Express’ Small Business Saturday. Continue reading Independent Retailers: How To Pitch Your Small Business Saturday Success To Reporters »

Why I’m Thankful For Retail

retail sales thanksAs we begin to fill our homes with the aromas of the holiday season, I’m reminded that ancient spice routes were the basis of retail sales.

As travelers came through the various encampments, they told of their tales and exchanged stories of where they found their items. Customers then purchased those goods as a memory of the story they heard.

The basic function of great retailing, whether you are a large conglomerate, an upcoming franchise or a single store mom and pop, hasn’t changed much. Continue reading Why I’m Thankful For Retail »

Amazon Showrooming: 13 Reasons Your Brick and Mortar Retail Store Is Susceptible

Amazon showroomingShowrooming occurs when customers, after having physically touched, smelled, lifted, handled, and most importantly priced your products in person, go online through their smartphones and comparison shop – most often to Amazon.

It’s one of the risks I’ve addressed in my manifesto.

Showrooming to brick and mortar retailers it is akin to stealing.

Whether customers do it in the privacy of a deserted aisle, in front of your best employee or in the parking lot walking back to their car, showrooming is causing a lot of retail executives a lot of worry.

Customers walking into your store no longer are “just looking,” they’re taking your hard-earned retail reputation, using all the beautiful displays, premium products and employees to cancel out any suspicions they have before they buy online.

To shoppers, it’s smart shopping. Continue reading Amazon Showrooming: 13 Reasons Your Brick and Mortar Retail Store Is Susceptible »