Focusing on these three measurable can improve your retail business. If you are already doing these, then give yourself a high five! Survey your customers Honest feedback from your customers is a great way to move forward. While it may be difficult to get a response for free, a small prize can sometimes be enough […]
Category Archives: Retail Coaching
One of the key things we train our planning clients to do is to start creating a winning relationship with their vendors. Remember, YOU as the retailer are your vendors’ customer! Many retailers feel that they do not have much power with their vendors and are not aware they can ask for more from the […]
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 […]
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, […]
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 […]
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! Generate POS reports – come armed to meet […]
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: Educate your staff and yourself The retail business is a constantly changing environment. What the average consumer expected 10 years ago is very […]
Editor’s Note: This article was originally published on February 2, 2015 and was updated on January 19, 2016. What is merchandise planning, anyways? Ask 10 retailers “what is merchandise planning?” and you will probably get 10 different answers. At CRS, we define merchandise planning as the systematic approach to maximizing a retailer’s profitability and return […]
Editor’s Note: This article was originally published on February 2, 2015 and was updated on January 19, 2016. What is merchandise planning, anyways? Ask 10 retailers “what is merchandise planning?” and you will probably get 10 different answers. At CRS, we define merchandise planning as the systematic approach to maximizing a retailer’s profitability and return […]
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 […]