R e t a i l  T e c h  T a l k

November 2024

A Few Articles from In and Around the Retail Industry

The Ultimate Guide to a Successful Small Business Saturday

Article Curated from Heartland, Oct 24, 2024

The holiday shopping season incites a lot of emotions for small business owners. Excitement, for sure, for festive crowds and high sales plans. But also stress and anxiety — how will I get it all done? Will I have enough staff? And even self-doubt: How will I compete with the mega retailers and chain establishments?

The good news is, consumers have shown increasing support for small businesses in recent years, particularly during the holiday season. Over 70% of consumers say they intentionally go out of their way to support a local small business, and will even spend more money in doing so.

It’s clear why the Shop Small® Movement is something revered by both small business owners and consumers — and why tens of millions of shoppers plan to support Small Business Saturday® this year.

Should you participate? How can you make the most of the day? Read on to learn why Small Business Saturday is an excellent, worthwhile opportunity for small businesses of all industries to celebrate and take part in.

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Are Seasonal Sales Events Losing Their Luster?

Article Curated from Retail Pro, Oct 24, 2024

With retailers offering discounts 24/7, for any time or reason, seasonal sales events such as “Back To School Daze” and “Black Friyay” could be losing steam.

However, recent data indicates that the concept of “everyday’s a sale day” can peacefully cohabitate with traditional retail holiday events, as long as retailers remain flexible.

The traditional retail calendar is evolving as data-driven insights and shifting consumer behaviors reshape the industry.

Evolving Retail Strategies: Flexibility and Personalization

Retailers are creating strategic sales events throughout the year, providing consumers with more opportunities to save and engaging experiences that drive loyalty.  Even behemoths such as Amazon embrace “Prime Day” events twice a year, which are not tied to any holiday or season.

However, retailers can be rest assured that not all customers want to do all their gift shopping in July.

According to the National Retail Foundation, customers are still accustomed to spending money seasonally, and retailers are ready to deliver safe, convenient and affordable shopping experiences with the products and services consumers want.

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Canadian Port Strikes Disrupt Supply Chains: What Businesses Can Do to Mitigate Future Risks

Article Curated from Retail Insider, Nov 6, 2024

The 2024 East Coast port strike that lasted three days (October 1 to October 3) was the largest shutdown of its kind in almost 50 years. As the distribution chain continues to recover from this historic event, it was announced on October 31 that Port of Montreal dockworkers have begun a partial and unlimited strike at the Viau and Maisonneuve terminals. This has resulted in a 40 percent reduction of the port’s total container-handling capacity. This recent shutdown was further amplified on November 4, as the International Longshore and Warehouse Union Ship & Dock Foremen Local 514 (ILWU) also started a lockdown across British Columbia. 

What can we learn from recent events, and what can occupiers do now to mitigate future supply chain disruption risks?

First things first: what’s happening right now in Montreal and British Columbia ports?

The Montreal and British Columbia port strikes may be the latest, but they won’t be the last. With these  ports on strike, 70% of Canadian container traffic is on full stop as respective local unions work to hammer out a deal with the Maritime Employers Association (MEA) and BC Maritime Employers Association (BCMEA). Contracts between the two expired in December (Montreal) and March (Vancouver) of 2023, and they have been unable to come to agreeable terms for continued engagement thus far.

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