It is challenging to stay relevant and in demand in the retail industry, knowing that aside from your numerous competitors, changing trends, and economic meltdowns, your business’s most significant competition is always itself. Being stagnant and relaxed in a fixed…
Most retail business owners want to know what is about to transpire in their business in the future. During these uncertain times, getting a forecast of your sales will help you decide whether to buy more inventory, hire more employees,…
As an independent retailer, you probably feel overwhelmed due to the piling-up tasks you must accomplish. Well, your emotions are definitely valid. After all, planning inventory, designing store layouts, building robust e-commerce and on-site presence, and hiring and training employees…
We have this common notion that money is the primary driving force behind everything we do. Although this can be true in some aspects, at present, this is inconsistent when it comes to working. Most studies indicate that employees identify…
The retail industry started by doing face-to-face interactions, personally attending to their customers’ needs and concerns. As technology advanced, retailers welcomed the digital space to conduct online transactions conveniently for them and their consumers. On top of that, this digitization…
With things almost returning to normal after a global health crisis, retailers like you need to prepare your brick-and-mortar stores to attract shoppers who wish to return to shopping in store. As the competition with other retailers becomes stronger, you…
Dealing with a single retail store can already be a handful. How much more if you need to handle multiple stores? Going over your inventory, finances, open-to-buy planning, etc., more than once can be demanding, stressful, and complicated. Well, this…
Wouldn’t it be great to never have to worry about cash flow? As much fun as it is to dream about that, the reality of the retail business is that the best retailers have to always keep track of cash…
We know that with the new year starting up, a high volume of transactions is already on every retail business’s plate, including purchases, sales, payroll, inventories, and so much more that have accumulated from last year. Although it is vital…
“Numbers don’t lie.” As a retailer, your inventory is your ultimate secret weapon and most powerful tool to achieve your financial goals. However, some retailers realize this the hard way. Others do not bother looking at their POS reports or…