Latest Posts

Get a Grip on your Business’s Profitability

March 26, 2015

Now that trade show season is over and we’ve had the opportunity to speak to several retailers,we find it astonishing how many don’t have a good grip on their retail business’s profitability. Their P&L statements show profit, but they cannot figure out why they have no cash. They can’t keep up with their payables and they haven’t had a raise ...

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How Alternative Payment Methods like PayPal & ApplePay Work

March 17, 2015

Over the last 10 years, due to enormous advances in the industry, technology has become inseparable from the retail experience. One of the many advances in retail technology is alternate payment methods, such as mobile payments.

Mobile Payment Methods

ApplePay

ApplePay, a method developed by Apple, allows customers to pay using their iOS device (iPhone, iPad) at brick and mortar ...

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Retail Analytics – Measuring and Calculating Retail KPIs

March 3, 2015

Just like Target, RadioShack, Mexx, and Sony, countless Indie Retailers will close their doors this year. But do they really have to? I think the answer is NO.

Retailers continue to make the age old mistake of neither measuring nor responding to their Key Performance Indicators. Here are a few important retail KPIs and how to calculate them:

...

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5 Tips for Preparing for a Retail Buying Trip or Trade Show

February 24, 2015

As we gear up for trade shows it is good to have a strategy so that you can maximize your time at the show, without wearing yourself out! Here are a few things you can do to help make your time more productive during this hectic time!

  1. Generate POS reports – come armed to meet your vendors at ...

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Three Steps to Becoming a Better Retailer

February 17, 2015

Well all want to be better at we do! Becoming a better retailer can be about finding the time to help you help yourself.

Three steps to a becoming a better retailer:

  1. Educate your staff and yourself

    The retail business is a constantly changing environment. What the average consumer expected 10 years ago is very different from today. Which ...

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Merchandise Planning – What is it?

February 2, 2015

Ask 10 retailers "What is merchandise planning?" and you will probably get 10 different answers. The correct answer is simple; Merchandise Planning is a systematic approach to maximizing a retailer’s return on investment through accurate sales and inventory forecasting to increase profitability. We increase profitability by maximizing sales potential and minimizing losses from “stock-outs & markdowns”.

Now, the not-so-simple…

...

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Hitting the Retail Target in Canada – NOT EASY!!

January 26, 2015

Well, by now we are all settling into the biggest Canadian retail news for some time: That Target is closing.

Newspaper, radio, TV and online lit up with the news of this American giant falling to it knees in the Canadian retail environment. Oh how the mighty can fall!

So beyond the hype, there is a strong and consistent ...

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How to Run a Retail Business

January 22, 2015

Running a retail business is complicated! Do you spend more to advertise your business? Do you invest in more retail inventory? Do you buy more in proven lines, or expand to emerging lines? Is it better to expand your physical store, or work on your online presence? Do you focus on training existing staff training versus hiring more staff or ...

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Retail Merchandising

January 13, 2015

Keep Calm and Buy With Confidence

It is a new year and I hope one of your resolutions is to get on a PLAN that will grow your business to new levels of success in 2015.

There are no guarantees in retail; we live in an industry riddled with risk, immense fear and an underlying insecurity. Every retailer faces questions ...

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Five Questions to Ask Yourself About Your Retail Business

December 22, 2014

We all have to look up and honestly assess where we are in our retail businesses every so often. Sometimes a careful, honest look at what we’re doing and how it’s being done (or isn’t being done) can be the catalyst for big changes.

The Wealthy Retailer Program is designed give independent retailers the tools that they need to survive ...

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