Retailing Sitemap - Page 1 2016-09-26
Retail Sales Math Formulas and Equations
Retail math is used in various ways by store owners, managers, retail buyers and other retailing employees to evaluate and improve the bottom line.
5 Keys to Writing a Thank You Note
Writing a thank you note in retail can have a huge impact on your sales, but only if it is done correctly. Learn the 5 ways to ensure notes work for your retail store.
Online Marketing Tips for Retailers
Marketing online is as important for a brick and mortar retail store as an e-commerce site. Increase exposure by marketing online with these marketing tips.
Styles of Hangers and Their Uses in Retail
Economical plastic, durable metal and classic wood hangers may all be suitable to use in a retail environment. Before choosing clothes hangers to use in your store, learn about the more popular types of hangers.
Steps to Starting a Retail Business
The dream of starting a retail business can easily become a reality. It may take a lot of initial work as you start your own business.
What Is an Anchor Store? - Retailing Terms
An anchor store is a major retail store used to drive business to smaller retailers. These larger stores are often part of a retail chain.
How to Conduct a Physical Inventory
Most retailers are required by tax or accounting rules to provide an accurate value of merchandise by physically counting all inventory. Learn how.
How to Convert Customer Returns into Sales
Here's how to turn those inconvenient returns into exchanges and avoid refunds by implementing these simple customer service skills. Listen and learn, offer suggestions, cross-sell, up-sell and satisfy the customer.
Properly Lift and Carry Boxes at Work
By taking just a few precautionary measures, staff may avoid serious sprains, strains or back injuries when lifting heavy items at work.
What Is a Retailer?
A retailer is an entity that sells goods or commodities directly to consumers, with the goal of earning a profit. Read about different types of retailers.
RFID - What does RFID stand for?
Radio Frequency Identification (RFID) refers to the technology that uses radio waves to transmit a product's unique number from a tag to a reader.
The Marketing Strategy of Your Retail Business Plan
How does the marketing strategy affect your entire business plan? What should you include and what should you leave out? These tips offer insight.
Retail Buyer Career Profile: Experience, Pay, Duties
A retail buyer is a fast-paced job in the retail industry, responsible for buying store products. Learn about the prospects and requirements of this career.
Retail District Manager Job Description
What are the responsibilities of a retail district manager? Learn more about this position, including necessary experience and required training.
How to Separate Crisp, New Paper Bills
How to separate crisp, new paper bills in order to make register transactions easier, more efficient and prevent any potential money loss.
Using Comment Cards For Feedback
A carefully planned and well-written customer comment card is a great way to engage customers, get their opinions and provide valuable feedback.
Identifying Shoplifters and Their Methods
To prevent theft, retailers should be aware of common shoplifting methods. There are different ways shoplifters can steal merchandise from a store.
Merchandise Returns and Refund Form
Returns are a part of any retail business, so make have a good return policy in place, and a form to collect necessary information for your files.
Calculate Gross Margin Return On Inventory Investment
An important tool in analyzing your sales and inventory is GMROI, which stands for Gross Margin Return On Inventory Investment.
Business Plan Executive Summary
An Executive Summary is critical to the success of the business plan. Less than 10% of all retailers actually have a business plan.
Retail Sales Percentage Increase / Decrease Calculator
Staff Meeting Topics: Basic Safety
The key to accident prevention in retail begins with awareness of basic safety. Never assume an employee knows what to do in any situation.
How Much Money Should I Keep in the Cash Register?
How much money should my retail business keep in the cash drawer? It will vary and may take a few weeks of dealing with the public to determine exactly how much petty cash to have on hand.
Figuring Out Your Retail Store Size
When planning your retail store, the amount of selling space will be one of the most important factors in selecting a location. Here's what to consider.
Going Green: Tips for Retailers - Ways to Reduce, Reuse and Recycle
Going green is not just a marketing ploy. Here are some ways retailers can reduce, reuse and recycle for improved social-responsibility.
What to do When the Lights Go Out During Store Hours
Is your store prepared for a power outage? Learn how to develop an emergency plan in case the lights go out so your staff knows what to do if it happens.
Uniforms in Retail: Good or Bad?
In a recent study, customers declared their love and appreciation for uniforms on retail employees. It has a direct impact on the customer satisfaction.
Retail Selling - Clerks or Salespeople?
Are the employees in your retail store clerks or salespeople? There is a huge difference. Clerks cost you money and salespeople make you money.
Millennials and Retail
Retail has to change and evolve to be ready for the Millennial workforce. Millennials are the largest population in the retail workforce today and the most expensive to hire and keep.
Motivating Your Retail Employees
Can you motivate retail employees? Or is motivation a myth? Read more on employe motivation.
4 Tips to Writing A Great Press Release
PR is replacing traditinal mareting efforts of retailers as the new way to drive customers into your store. Social media has changed the landscape of the way we market in retail today and the businesses that understand the power of PR are the ones who will end up on top.
Can Brick and Mortar Compete with Online?
Can brick and mortar stores compete with online retail? Absolutely. Here is how.
The Hidden Cost of Bad Employee
do you know ho much a bad retail salesperson costs your store? Did you realize a $25 difference per ticket can mean hundreds of thousands of dollars to your store? Learn how to callout the costs.
Customer Experience Engineering for Retail
In retail today, customers want their expectations exceeded and not just met. It's no longer enough to satisfy a customer and expect them to come back.
Are Your Retail Employees Communicating with Your Customers?
How well your employees communicate with the customer has everything to do with how well the customer is satisfied and will return again. Learn how.
The Culture Cycle
Corporate culture is a living, breathing part of your company. It needs care and feeding just like your employees, Read how to develop a strong retail culture.
The Culture Cycle in Retail - Part 2
Corporate culture is the key component of success that gets ignored constantly by retail stores. It costs you money and it can make you money. But only if you know how to nurture and develop it.
How to Buy Wholesale Merchandise
Looking for wholesale merchandise? Don't know where to get the products to sell in your store? Making the right choice today ensures there will be a tomorrow for your retail store.
Buy Wholesale Merchandise: Finding Suppliers
Once your store is open and doing business, it will be easier to find wholesale merchandise to sell because the suppliers will be coming to you, instead of you looking for them. Customers can also play a large role in finding suppliers as they recommend products they would like to see in the store. Page 2.
How to Write the Best Retail Blog
Once retailers learn how to blog properly, a blog can increase sales and build customer relationships. Here's how and why you need a business blog.
Common Objections to Business Blogging
Here are a few of the most common objections to blogging by retailers and the reasons why blogging can still be effective for your business. Page 2.
How to Blog - Maintaining a Beneficial Business Blog
After you've chosen the blog software, here are some tips for maintaining a retail blog that will benefit customers and keep readers coming back. Page 3.
Retail Blogging Policies and Practices
Just like all retail store operations, a business blog needs a set of policies and procedures to maintain integrity and professionalism. Page 4.
When do I Fire an Employee?
How do you know its the right time to let an employee go? And how do you do it correctly when it is time? These questions plague all retailers. Read more to find out.
Why Signs Sell
We believe that interior advertising, also known as signage, is the most misunderstood and underutilized tool to increase sales in retailing today.
Sell to Everyone
In retail. always acknowledge everyone in the customer group. While the product may be for only one person, the more you include everyone in the sale, the more likely you are to make the sale.
Technology Will Ruin Retail
Technology has long been thought to be the savior for all things retail. But the truth is, letting employees bring their devices onto the sales floor is redesign productivity and decreasing sales.
The Failing Power of Brand
Your brand is no longer enough to get someone to buy from you. They care more about what their friends are saying than what your brand says it stands for.
Retail Selling Skiils
Retail selling skills are only as good as the person using them. Often times it is not the selling skills that are lacking, but rather the personality.
Changes In Retail Email Marketing In 2016
Email marketing still continues to be a driver of success in retail. However, the rules have changed and if you want to continue to have success, you need to change with them.
How Retailers Can Start Selling Online
This e-commerce guide can help answer questions about selling online and offer practical advice for retailers taking products to the Internet.
Cash Registers vs Point of Sale (POS) Systems
Should you choose a cash register or a Point of Sale system for your retail business? Here's the benefits of a POS system and understanding your cash register needs.
Mistakes To Avoid When Selling Your Small Business
Every day, small business owners make drastic mistakes when selling their business and lose thousands of dollars in the process.
5 Mistakes to Avoid When Selling Your Small Business (Part 2)
Everyday small business owners make drastic mistakes when selling their business and lose thousands of dollars in the process. All their hard work and long-term investment goes down the drain. Motivational speaker, Debbie Allen offers five mistakes to avoid when selling your small business. Page 2.
Business Licenses and Permits for Retail Businesses
Knowing what retail business license and permits your retail business needs can be very confusing when planning a new business.
Retail Store Location - Important Factors
Page 2. Don't feel rushed into making a decision on where to put your retail business. Take your time, research the area and have patience. If you have to change your schedule and push back the date of the storeâ€™s opening, then do so. Waiting to find the perfect location is better than just settling for the first place that comes along. The wrong location choice could be devastating to your retail business.
Creating Coupon Promotions - Tips for Retailers
Coupons are the hottest from of marketing in retail today. Learn why and how to use coupons as an inexpensive form of marketing.
E-commerce Website Mistakes to Avoid
An e-commerce website should be appealing and very simple to use. Avoid these pitfalls when designing and developing an e-commerce website. Page 2.
5 Ways a Podcast Will Help Your Business
Podcasts are the newest form of marketing for retailers that takes very little investment, but can have a high rate of return.
What is Social Media and Why is it Important?
For most retailers, not understanding social media has led them to find it to be a virtual and literal black hole.
3 Tips To Make Your Website Generate Many More Sales
Selling online is becoming more difficult everyday. There are so many competitors and the access for customers is so varied. You need to focus on a retail website that maximizes revenue potential. Here are three tips to help you do just that.
3 Tips to Determine the Best Store Hours
Picking the right store hours can make a big difference to your retail stores; profitability. Don't follow the masses; follow your data.
Is Customer Loyalty Dead?
In a recent study, customers shared they prefer loyalty to one store. However, they do not feel loyalty from the store to them.
Creating a Newspaper Ad for a Retail Business
As a retailer, you have so many responsibilities to manage that using a professional to create your newspaper ad could be a huge benefit.
50 Creative Marketing Ideas for Retailers (1-25)
Small business owners can easily get too involved in the day-to-day operations of their retail stores to spend any time brainstorming marketing ideas.
50 Marketing Ideas for Retailers (#26-50)
Page 2. Marketing is most effective if done in coordination with other exposure. Enhance the above efforts with additional signage, newspaper ads, displays and radio ads. Remember to tailor each event for your target audience. If your message isn't being delivered to the right person, it may be a wasted effort.
Retail Pricing Strategies to Increase Profitability
Knowing what and how to price your products can be confusing for any new retailer. Retail pricing strategies are important to turn profit.
Open-To-Buy Planning: How To Control Your Inventory
Open-To-Buy is the amount of merchandise your retail store can buy during a certain time period.
Trade Show Attendance Tips
Knowing what you would like to accomplish before, during, and after the trade show will help maximize your time. Here are some trade show planning tips.
Set Up Retail Store Evaluations and Mystery Shoppers
In order to meet customers' needs, it is important to conduct retail store evaluations. Learn why it's vital to your business and how to manage one.
Good Pricing Practices
The Federal Trade Commission says it can be relatively easy to improve pricing practices -- and in the process, boost customer satisfaction, your bottom line and compliance with the law. Here are their step-by-step suggestions.
Retail Business Math: How to Calculate Percents
Point-of-sale systems can easily complete all calculations; however there are times when retailers will need to process the percents manually.
Selecting Cash Registers and Point of Sale (POS) Systems
Learn what to consider when choosing the best cash register and point of sale cash management system for your retail business.
Tips on Building Business or Trade Credit
Trade credit is an essential tool from suppliers for delaying cash outflow. Net 30 and Net 10 accounts let the retailer buy inventory now and pay later.
What Is a BOL or Bill of Lading? - Retailing Terms
A bill of lading is a document used as evidence that your store received goods from a shipper. It's proof that the manufacturer got you the merchandise you ordered.
Retail Store Organization Structure
The organizational structure of a retail store will vary by the size and type of the business. Here are a few tips for creating a chain of command.
Low-Cost Perks and Staff Incentives for Retailers
What perks can a brick and mortar retail store offer employees that don't break the bank? Discover low-cost and creative ways retailers reward staff.
Scheduling Employees - Factors for the Retail Manager
One of the most important tasks of the retail manager is scheduling employees. Learn how to write a work schedule.
Retail Scheduling Basics - Writing the Work Schedule
Once the retail manager understands the factors involved in scheduling employees, he/she can become skilled at balancing the store's staffing issues. Scheduling becomes easier over time. Here's what you need to write a weekly work schedule. Page 2.
Ideas for Creating a Business Name
Need business name ideas? Here's how to use brainstorming to generate some options for your business name. Southern business names ideas.
Leasing Store Front Start Up Costs
How much your retail space will cost every month depends on where you locate. When you're just starting out, do some research and get a good estimate.
How to Build a Loss Prevention Plan
Retailers can spend lots of time and energy creating sales, only to the profits from those sales stolen away. A strong, solid retail loss prevention plan is what you need.
Get More From Your Employees: Incentives That Increase Productivity
Retail employees need a company that will incentivize them to top performance. Studies show a direct link between employee productivity and the rewards from the employer.
Retail Markup Markdown Calculator
What Is the Break-Even Point in Retail
The break-even point in your retail store is when the sales are equal to the expenses. In other words, there is no profit and no loss.
Brick and Mortar Store Definition
What Are Comparable Store Sales?
Comparable-store or same-store sales is a measurement of productivity in revenue used to compare retail stores that have been open a year or more.
Calculating Contribution Margin - Retail Glossary
Contribution Margin is the difference between total sales revenue and total variable costs.
Coupon - What is a Coupon? - Retailing Terms
In retail, a coupon is a promotional tool that can be redeemed for a discount when purchasing goods or services. Coupons are generally issued by manufacturers.
Hardline and Softline Goods in Retail
Hardlines is a retailing term referring to merchandise such as hardware, housewares, automotive, electronics, sporting goods, health and beauty aids or toys.
What is MAP Pricing and What Retailers Does It Affect?
MAP is a pricing policy that prevents retailers from advertising prices below a specified dollar amount. Learn more about how MAP can affect your store.
Point-Of-Purchase (POP) Displays in Retail
A point-of-purchase, or POP, display is marketing material near the merchandise it is promoting, meant to draw the customer's eye and motivate sales.
Retail 101: What is Inventory Turnover?
In retail cash is king. Managing how you turn your inventory may be the most important retail skill you ever learn. How do you calculate inventory turn?
What Is Dead Stock Mean? - Retailing Terms
Dead stock is simply merchandise that has not or cannot be sold. This product has never been worn, used or out of your retail store and has been in inventory for an extended period of time.
Riyash, Saudi Arabia - Store Review Photos
Riyash, Saudi Arabia, photos submitted by Abdul Kareem for retail store review. Read our review of this store or give it your own rating.
DFL Fashion Store, Philippines - Store Review Photos
DFL Fashion Store, Philippines - Store Review Photos
Neon Signs Gallery - Examples of Neon Signs in Retail - Neon Sign
Neon signs are an excellent way to attract customers. The combination of lighting, color and advertisement makes a neon sign the perfect marketing tool to enhance any business. Neon signs can be informative, generate excitement or provide direction. View this neon sign gallery to see how other businesses are implementing neon lights.
Retail Store Fixture Photo Guide
Retail store fixture photo guide of the most common retailing store fixtures used to display merchandise. Garment racks, counter displays, wall units and other retail store fixtures.
Workplace Posters and Requirements for Retail Businesses
Learn what workplace posters are required by the U.S. Department of Labor for retail businesses.
Christmas Display Ideas | Retailer Submitted Photos
View these Christmas display photos submitted by various retailers.
Visual Displays Photo Gallery
The images in our Visual Displays Photo Gallery have been submitted from retailers, merchandisers and visual display artists wanting to show off their talents. Find out how to submit your creative, attractive displays.
Things Retailers Should Never Say
Many retailers still use phrases that may give the wrong image and negatively impact our customers' shopping experience.
Business Plan Books - Retail Business Planning Book
Each book in our list of recommended business plan books is devoted solely to the topic. These are the best step-by-step guides on content, presentation and execution of a business plans.
Retail Management Books for Store Managers and Owners
Whether the store is big or small, retail managers and store owners face many of the same challenges. Discover useful retail management books that can help.
Parts of a POS Cash Register System
Retailers can't choose the right point of sale system for their business if they don't first understand the parts of the POS cash register.
Essential Parts of a Retail Business Plan
Do you know what goes in a business plan? Take a look at the various business plan parts and what to include. The purpose of your business plan will determine how much information should be included and what format to use. For financing, you'll have a better chance of convincing someone to fund your company if there are plenty of details provided. Here are the essential business plan parts and what to include.
Margin Definition - What Is Retail Margin?
The amount of gross profit made when an item is sold is called margin. Find out more.
Purchase Order - Definition of Retail Terms
A purchase order (or PO) is a written sales contract between retail buyer and seller detailing the exact merchandise or services to be rendered.
Disclosing Layaway Terms
There are some particularly important aspects of layaway plans to consider disclosing. These include: cancellation and refund policies; payment plans; service or layaway charges; and the location, availability, and identification of layaway merchandise. Page 2.
Layaway Payments and Fees
If you require a specific amount of money to be paid on layaway purchases, read on to learn how to establish or refine your layaway policy. Page 3.
Creating a Layaway Policy
To help you create or evaluate your current layaway policy, this article provides a layaway checklist, sample layaway sales receipt and information on federal and state layaway laws.
20 Marketing Phrases That Make Customers Buy
Markdowns in Retail and How to Avoid Them
Compared to a sale or promotional event, a markdown (in its purest form) is when you change the list price to a lower dollar amount permanently. Learn more.
Effective Newspaper Advertisement for Retail
Newspaper advertising a more of an art than a science in retail today. The costs have gone up and the results have gone down. How can you get results?
10 Retail Topic Ideas for Store Meetings
Consider discussing one of these retail staff meeting topics at the next store meeting to help both with training and morale.
How to Identify and Prevent Retail Theft
This shoplifting prevention guide will help retailers identify shoplifters and shoplifting methods, create a less attractive environment for shoplifters and teach retailers how to put policies and procedures in place to protect their store against theft.
Independent Retailer - Types of Retail Ownership
By definition, an independent retailer is a small business owned and operated by an individual versus a corporation. Learn about the backbone of retail.
Basic Retail Floor Plans (Store Layouts)
A well-planned retail floor plan allows a retailer to maximize the sales for each foot of the allocated selling space within the store.
Retail Store Evaluations
Every retailer starts out with the store matching their vision exactly, but if they do not constantly evaluate their retail store, it will eventually become something you do not want.
What's the Difference Between Gross Margin and Gross Profit?
Although Gross Margin and Gross Profit are looking at the same financial viewpoint, they do so in very different ways. Learn the difference between the two.
How Much Does It Cost to Start a Retail Store?
How much money will it take to open that store you're dreaming about? The only way to really know is to create a great business plan. Let's get started.
Recommended Retailing Books
Here are the best guides to opening and operating a retail store. Recommended for retailers starting their own shop.
Choose a Business Legal Structure for Your Retail Business
The type of business structure you choose for your retail store can have a major impact on multiple aspects of your business, including taxes, liability, and your exit strategy.
Tips for Retail Competition With Big Box Stores
Many people contemplating starting a small business are reluctant to compete with the large retailers. Here are some tips so your retail business can keep up with the big box stores.
Finding Average Sales Per Square Foot - Retail Industry
Knowing the average sales per square foot for your chosen type of retail store can help you gauge the success of you store comparatively.
How to Estimate Retail Inventory Start-Up Costs
How much money do you need to start a retail business? Learn how to estimate the initial cost of your store's inventory without buying a single product.
Retail and Store Location Options and Types
Retailers have many store location options to consider when choosing a place for their business. Here are a few of the more common types of retail locations.
Drop Shipping Tips for Retailers - Choosing Drop Shippers
Drop shipping may sound like the perfect scenario, but to be profitable, a retailer must do some research before deciding if, or when, to drop ship. Here are 4 drop shipping tips for retailers
Explanation of Loss Leaders in Retail
Loss leaders are goods or services offered at steep discounts in order to attract new customers to a store and stimulate sales.
Understanding the Retail Planogram
The planogram is a visual diagram, or drawing, that provides in detail where every product in a retail store should be placed. These schematics not only present a flow chart for the particular merchandise departments within a store layout but also show on which aisle and on what shelf an item is located.
Top Ways to Turn Off Customers
Keeping retail stores neat and clean is not only easy to do; it is an inexpensive way to attract customers and create a pleasant store atmosphere.
What Does FOB Stand For? Free or Freight On Board
Free on Board or Freight on Board (FOB), is a common retail shipping term used to indicate who is responsible for paying transportation charges.
Inventory Cycle Counts
Cycle counting is a inventory management process for retailers that can save lost revenue and lost profits. It is a management process of counting inventory that can be done within the normal course of business.
The Week After Christmas
The week after Christmas can make or break your year in a retail store. Here are some tips to hep you close the year out with the most money in your pocket.
The 2 Types of Coaching Performance
Coaching is an important skill for a retail manager. It helps increase the productivity in all of you employees - even the best ones. But there are two types of coaching you should practice in your store.
Building Strong Vendor Relationships
Vendor partnerships are crucial to success in today's competitive retail environment. Here are 5 tips to help you and your vendors to become partners.
Retail Store Manager Job Description
the retail store manager sets the tone for the store, maintains the culture, leads the staff and shows great compassion for the customer.
Exempt versus Non Exempt Retail Employees
Knowing the difference between an exempt retail employee and a non-exempt one can be very confusing for a storeowner. And even worse, can be an area of legal trouble if you're not doing it correctly.
Manage and Grow Your Retail Store
In today's intensely competitive retail environment, there are five key areas to focus on to manage and grow your retail business.
The Day After Christmas for Retail
The day after Christmas can be the most important day in retail. It's not about the sales, it's about the customer experience that keeps them coming back.
How to Secret Shop a retail store
Secret shopping your retail store can have tremendous value. But how can you do it on a budget?
Buy One Get One Free
Buy one get one free is a popular marketing offer for retailers, but is it a good idea?
Inside the World of Naming Rights: A Good Deal?
Retailers are getting more creative in their marketing and one of the latest trends in branding is naming rights. It can be a gamble, but it pays off.
How to Buy at a Retail Trade Show
Most retailers make big mistakes when they go to market to buy inventory. Here are 5 ways to avoid the buying mistakes.
4 Smart Financial Tips for New Retail Business Owners
Starting a retail business is a very ricks proposition. Read these 4 financial tips to help you succeed in the midst of the crowded marketplace.
People or Process?
When evaluating you retail business, you need to look at 2 things - The People and The Process. All issues in retail can be found looking here.
How to Celebrate Employee Anniversaries
celebrate retail employees anniversaries in ways that let the employee know you care.
The High Cost of Retail Returns
Returns costs retailers billions of dollars each year and many of them can be prevented with proper service.
Retail Assistant Store Manager Job Description
the retail assistant store manager works at the front lines executing on the plans and strategy of the store owner or company.
Conducing an Employee Review
Conducting an employee review can be an awesome tool to help you improve your retail employee's performance. Here are 5 tips to get you there.
5 Tips for Coaching Retail Employees
Coaching an employee is a necessary tool for retail manager success. Here are 5 tips to help you be a better coach for your employees.
Inventory Management - Fill-ins
Managing inventory is the key to success for retailers. Fill-ins are the most important part to manage since they can save you the most cost.
Retail Inventory 101
Inventory management is critical in retail that requires a balance between employees and controls. The largest loss in any retail store comes from inventory issues.
Types of Merchandise Your Retail Store Should Carry
In retail, there are 6 types of merchandise you should always carry in your store. Each appeals to a different customer and all of them make you money.
How Cloud Accounting Might Boost Your Business
There are real advantages to using cloud based software in retail today. The best one is your accounting software. It not only gives you access anywhere you are on the road (visiting stores) but also gives your accountant easy access to reduce his or her costs when it comes time to file.
What is Inventory Turnover?
inventory turnover is a common measurement of the retailer's ability to manage its inventory well. Too high a turn and the retailer is missing sales. Too low and they have more inventory than it needs.
Holiday Pop-Up Shops for Retailers
Retailers are discovering a new way to do holiday sales - pop-up shops. Learn how they can help you expand your name and brand.
In retail, the Problem is not the Problem
In retail, the customer's problem is not always the problem. There are really two problems you have to solve when something goes wrong.
What is Showrooming?
Showrooming is a trend that continues to grow in retail. But how do you compete with this phenomenon? You cannot afford to spend more advertising dollars than your competition, so what do you do?
Choosing the Best Merchandise for Your Retail Store
Having the right merchandise selection in your retail store is critical for your success. Buying for your customer instead of yourself is one of the best tips. Read more.
What is Open to Buy?
Open to Buy is a much needed tool in retail. However, it can get complicate fast and is only as good as the data inserted into it. How do you use open to buy in your store to make money?
4 Tips to Increase Margins in Your Store
Sales in retail stores can be margin killers and we need healthy margins to survive. Here are 4 tips to help you satisfy the sale bug but do so without sacrificing your margins.
5 Marks of a Great Marketing Event
There are 5 marks of a great sales event in your retail store.
Writing Powerful Ad Copy
Writing compelling ad copy is a must for any retail store. There are 5 rules to effective ad copy that will compel the customer to shop in your store .
Accessories: Adding On Sales in Retail
The add-on sale in retail is the most important one because its when the retailer starts making money. The best salespeople always accessorize every sale.
Assuming the Sale - The Best Closing Technique
It is the job of a retail salesperson to close the sale. The best closing technique is the assumptive close using the phrase since we've agreed.
Get Them Coming Back to Your Retail Store
Is customer loyalty dead in retail? How do you get your best customers to keep coming back rather than spending all your money trying to find new ons?
Top 5 Business Lessons from the Girl Scouts
The Girl Scouts are one of the biggest sales organizations in the world. Learn their 5 best business practices as a sales team.
How to Give Proper Feedback to an Employee
There are two employee feedback models to use when giving them coaching or guidance on their performance or behavior.
5 Ways to Measure Black Friday Success
How do you measure the success of a Black Friday in your retail store? Here are 5 questions to ask yourself and gauge your success.
5 Strategies to WOW Retail Customers
Good customer service is expected. But when we service customers in ways that they are not expecting, we create a wow factor that sets you apart.
Implementing Retail Customer Loyalty Programs
It costs less to keep existing customers than to earn new ones. One of the best ways to keep customers is establishing an effective loyalty program.
Lock in the Sale
Buyer's remorse is real and it costs retailers thousands annually. Make sure your salespeople are using techniques that help prevent buyer's remorse.
5 Benefits of a Unified Sales Process
Is there a benefit to having s unified sales model or process in your retail store? Here are 5 benefits that are proven to make you money.
Customer Service Does Not Mean Self Service
Retailers are adding many self-service processes in the stores under the label of customer service. But the customer is saying no.
Words Matter - Retail Selling
Your words matter in retail. Simply changing your phrasing and picking better words can convey sincerity and empathy versus rote. Treat the customer like a person and not a transaction.
Make Your Own Holiday in Retail
Retailers don;t need to wait for the national holiday to have an event in their store. They can create their own event. Learn how the DIY events work.
EMV: Everything You Need to Know
New laws require retailers to be able to process EMV cards. Are you ready? Do you know all of the details of accepting EMV credit cards?
Choosing a Retail Store Location - Important Factors
Store location for your retail business will have a major impact on everything your shop does.
Return Fraud in Retail
A National Retail Federation's Survey found that criminals often take advantage of retailers with poor return policies. Do you know about return fraud?
Writing a Return Policy - Factors to Consider
Retailers should keep customer service in mind while writing a return policy. It's a delicate balance to strike, but an obtainable one. Page 2.
What are iBeacons?
iBeacons were created by Apple as a way for your store to communicate with your customer's mobile devices.
Financial Dictionary - The Terms You Need to Know in Retail
Knowing how to read the financial statements of your retail store is critical to your success. Here are the most common terms you need to know.
Why Branding is Crucial to Landing Page Success
Landing pages are an essential part of a successful online strategy. Many brands fail to realize the loss of sales due to poorly designed landing pages.
Attention Retailers: 4 Tools for a Successful Social Media Presence
Social media is a real form of marketing for retailers today. But what are some of the apps you can use to monitor your social media and online success? Read this article to find out.
Dealing With the Disgruntled - Customer Service Tips
Armed with the following customer service tips, you can diffuse tricky situations and possibly even save the customer, as well as the sale.
What are Vendor Co-op Funds?
Vendor co-op is an important tool for advertising your products. It helps retailers sell their products by subsidizing the cost of advertising.
Measuring Retail Performance Sales and Productivity
Being able to measure and monitor results in your retail store is the key to profitability. You can have sales and lost of customers, but that doesn't mean you are making money. Here are the must use calculations for your store.
Choosing the Right Newspaper to Advertise Your Retail Store
Newspaper advertising is still effective if done in the right way. Here are some tips to picking the right newspaper for you retail ads.
How a Seamless Buying Experience Yields Greater Profits
Brick and mortar retailers have to sell online as well today in order to compete. But that brings its own set of challenges. Learn how to create a seamless buying experience between your brick-and-mortar store and your website.
What is Omni-channel Retail
Even if you are just one store, you can be omni-channel. the key is to have a consistent experience across all channels for you customers.
Studios Improve Retail Sales
Gyms and fitness studios are learning there is money to be made selling retail apparel to their very loyal customers.
What is Cost of Goods Sold or COGS?
Cost of Goods Sold is the calculation how much it cost you as a retailer to sell the merchandise. It includes all expenses related to the acquisition of the inventory including freight.
Strategic Planning for the Independent Retailer
Indépendant retailers need a strategic plan just like Fortune 100 companies. However, the key is to separate business goals from personal goals and an for both.
What is Keystone Pricing?
Keystone is a pricing strategy whereby the retailer marks all of its merchandise at double the manufacturer's cost.
How to Calculate GMROI for a Retail Store
Using GMROI or gross margin return on investment can make a huge difference in your retail business. It is the most accurate measure of the health of your business.
5 Focus Points for Better Retail Management
Retail is one of the most competitive and difficult professions today. Here are 5 tips to help you grow your chosen profession of retail.
How Shopping Locally Impacts Your Community
Shopping locally creates jobs, stimulates the local economy and creates a sense of community.
How to Create an Attractive Visual Store Display
A creative display draws the customer in, promotes slow-moving product, and highlights new merchandise. A display is the silent salesman in your retail store.
Retail Store Recovery - Get Ready for Customers
Recovery is the process of getting the store ready to sell. It must be planned and part of the store culture to be successful. And it cannot be the last thought of the day.
Signs Sell - Book Review
Signage is the most misunderstood tool in retail today. Signs can make your store money. Get the most out of your store signage with these tips.
Friends and Family Discount
Friends and family discounts are a widely popular tool in retail. however, if you are not careful, it can run you straight in to bankruptcy.
Controllable Versus Uncontrollable Expenses
There are two types of expenses in retail - controllable and uncontrollable. Knowing how to manage each is the key to profitability in your retail store.
3 Tech Solutions for Retailers Preparing for the Holiday Season
It is estimated that 40% of a retailer's revenue comes form holiday shopping each year. Here are 3 tips to get you ready this year.
What is a P&L?
A profit and loss statement (P&L) is an accounting report relating you retail store's performance for a certain period. However, it only tells part of the story. The other part may cause bankruptcy.
Must Follow Rules for Retail Merchandising
Having the right merchandise in your retail store is one thing, having it at the right price is quite another. There is an art to balancing these two ideas.
Most Important Elements of Visual Merchandising
Visual merchandising is comprised of many moving parts and can be so confusing that it can create uncertainty about where to start.
What is Dating on Purchases?
Dating is a common term used in retailing today. It is an important detail to pay attention to when placing your inventory orders. Dating can be the achilles heel of you business. Get the wrong terms and you could be facing financial disaster.
In Retail, Cash is King!
Cash flow is king for retailers. Having cash in the bank to pay your bills is the key to success. Most retail business today fail because they did not adequately manage their cash flow.
Markdowns are inevitable in retail. They come in two forms and if not managed carefully or kept in check, they will destroy your cash flow. Learn how to control your markdowns.
The 2 Ways to Do Retail
In real today, customers expect to be disappointed. It's the number one reason they shop online - because the store experience is no different than online.
How Will I Finance My Business? - Retail Financing FAQs
Where you find money to fund your retail business will depend on your personal credit and the effectiveness of your business plan.
What Is Equity Financing?
Equity financing is trading a percentage of a business for a specific amount of money. Read about the pros and the cons of equity funding.
Startup Costs - Marketing Start Up Costs
Planning your marketing for your retail star-up can be a challenge. There are so many variables and unknowns. Here are some tips to help you.
The 5 Step Plan for Your Retail Year
January may be the most important month of the year for your retail store. Here are five things you should do every January to ensure that your retail store has the best year possible.
Acid-Test Ratio for Retail
An Acid-Test Ratio is a measurement of how well a business can meet its short-term financial obligations without selling any inventory.
Why Store Atmosphere Matters to Your Customers
Get the facts on store atmosphere with this review of the concept, complete with a definition and examples. Learn why atmosphere matters to customers.
What is Product Breadth, Depth and Assortment?
Determining your store's inventory needs is important. Learn about the basic retail strategy of product breadth, depth and assortment and how to use it.
What is a Cash Discount on a Retail Invoice?
In retail, a cash discount is the percentage reduction in the invoice total amount due if you pay within a specified shorter period of time.
Cost of Goods Sold - What Does COGS Mean?
The price paid for the product, plus any additional costs necessary to get the merchandise into inventory and ready for sale, including shipping and handling.
What is Meant by Facing in Retail Stores?
Facing is one of the many tasks of a retail store. It is meant to keep the store's products looking their best and it's and important part of each day.
What's a Retail POS System?
Point of Sale (POS) is the area in a store where customers pay for purchases. But a good POS system can help make your operations more efficient.â€‹
What Is Keystone Pricing in Retail?
Keystone pricing is a method of marking retail merchandise for resale to an amount that is double the wholesale price. Here's how it works.
What is a Marketing Calendar?
A marketing calendar is a tool used by retailers to show what marketing events, media campaigns and merchandising efforts are happening when and where, as well as the results.
Odd-Even Pricing in Retail
A form of item pricing in retail stores that suggests buyers are more sensitive to certain ending digits. Odd pricing makes customers feel the item is cheaper. Is it true?
What Is Private Label Branding?
Products which are generally manufactured or provided by one company under another company's brand are know as private label. Is private label right for your retail store? Read the benefits.
Profit Margin in Retail
A ratio of profitability calculated as earnings divided by revenues. It measures how much out of every dollar of sales a retail business actually keeps in earnings.
What Does Run of Paper Mean to Your Advertising?
Run of paper is an advertising term used by newspapers. It means that your ad can run anywhere in the paper. Learn how to effectively use ROP ads.
What's a Retail Merchandise Mix?
A merchandise mix is the breadth and depth of the products carried by retailers. So how do retailers decide what to keep on the shelf and what to dump?
What Does SKU Mean in Retail Terms?
The Stock Keeping Unit (SKU) is a unique number assigned to a product by a retail store to identify the price, product options and manufacturer.
What Are Staple Goods at Retailers?
Staple goods are products purchased regularly and out of necessity. Learn why staple products are so important and mistakes many retailers make.
How to Implement and Maintain a Store Planogram
Planograms are used to optimize store displays and create a great customer experience. Learn how to read and work with a planogram and create a new display.
Sell-Through Rate - Retail Terms and Definitions
Sell-through Rate is a calculation comparing the amount of inventory a retailer receives from a manufacturer against what is actually sold to the customer.
Financial Plan - Parts of a Business Plan
A Financial Plan relates the company's sales and profit models. It assesses the amount of capital the retail business needs, as well as the use of these funds.
Retail Career Profile: Assistant Store Manager
Assistant managers are vital to a store's daily operations. Learn about this rewarding and challenging job, its duties, benefits and if it's right for you.
Visual Merchandiser Job Profile
The visual merchandiser is the driver of the brand experience in the retail store. They are the silent salespeople in retail with a powerful voice.
Festivals & Craft Fairs - Retailing Storefront Alternatives
Retailers looking for a part-time solution, and storefront alternative, may find the low overhead and convenience of selling at festivals and craft fairs enticing.
Catalog Retailers and Mail Order Sales
Learn more about using direct mail efforts such as catalog sales and mail orders as an alternative to leasing a retail storefront.
Retail or Mall Kiosk - Retailing Storefront Alternatives
Retailers looking for storefront alternative, may find the high traffic and excitement of selling from mall or retail kiosks enticing.
Advantages of Online Retail
E-commerce offers retailers new ways to reach consumers and conduct business without the need of a store. Here are the advantages of online retail.
How Product Knowledge Can Mean More Sales
Knowledge is power and for retailers, product knowledge can mean more sales. You cannot exceed the customer's expectations if you do not know your products.
Licensed Dealership - Types of Retail Ownership
A licensed dealership is one of the several types of retail business. There are pros and cons to this model. Read about them all before you make a decision.
Balancing a Cash Register - How, Why and When
The process of counting the money, reconciling the receipts and balancing the cash drawer creates an internal control or accountability of the day's transactions. Here are some tips for how, why and when to balance the cash drawer.
- By Category
An index of categories in the
Steps to Conducting a Competitive Analysis
Do you know how your business stacks up to the competition? A thorough competitive analysis is critical to a retail store's success. Learn how to do it.
Valentine's Day Retail Display Ideas
Valentine's Day retail Display Ideas
What Is a Category Killer? - Retail Business Terms
A large retail chain store that is dominant in its product category. This type of store generally offers an extensive selection of merchandise at prices so low smaller stores cannot compete.
POS Receipt Printers - Parts of a Retail Point of Sale System
The ability to print a record of the transaction for the customer, and possibly the store, is critical. Serial dot-matrix printers are generally cheaper to purchase initially, but this type of printer uses pins and ink ribbons which add to the cost over the lifespan of the receipt printer. Thermal receipt printers cost more initially, but use special paper which also adds to the lifetime expense. However, the thermal printer is also faster and quieter.
POS Monitors - Touch Screens - Parts of a Retail Point of Sale System
A retailer has many choices of point of sale monitors to add to their POS system. Flat-panel LCD monitors may cost a little more than the standard CRT monitor, but the LCD display will take up less space at the checkout counter.
POS Cash Drawer - Parts of a Retail Point of Sale System
An essential part of a POS system is the cash drawer. Money, credit card receipts and other paperwork is stored here. This piece of hardware receives a signal from the computer or receipt printer and opens when necessary. If purchasing the components of the POS system separately, be sure the cash drawer is compatible with the rest of the system. Cash drawers should be sturdy and withstand the constant opening and closing.
ROP - Full Run of Paper - Understanding Advertising Rate Cards
Run of Paper (ROP) usually means your advertisement can appear in any location within the newspaper. With some papers, display ads may not appear in the classified section. If you plan to advertise infrequently during the eyear you may choose to purchase your space at the open rate. If you plan to advertise more often, you will want to sign a contract.
Types of Store Layouts - Geometric Floor Plan
The geometric floor plan is a suitable store design for clothing and apparel shops. It uses racks and fixtures to create an interesting and out-of-the-ordinary type of store design without a high cost.
Straight Floor Plan for a Store Layout
The straight floor plan is an excellent store layout for most any type of retail store. It makes use of the walls and fixtures to create small spaces within the retail store. The straight floor plan is one of the most economical store designs.
Diagonal Floor Plan - Types of Store Layouts - Retail Store Designs
The diagonal floor plan is a good store layout for self-service types of retail stores. It offers excellent visibility for cashiers and customers. The diagonal floor plan invites movement and traffic flow to the retail store.
Angular Floor Plan - Types of Store Layouts - Retail Store Designs
The angular floor plan is best used for high-end specialty stores. The curves and angles of fixtures and walls makes for a more expensive store design. However, the soft angles create better traffic flow throughout the retail store.
Mixed Floor Plan - Types of Store Layouts - Retail Store Designs
The mixed floor plan incorporates the straight, diagonal and angular floor plans to create the most functional store design. The layout moves traffic towards the walls and back of the store.
Things Retailers Should Never Say
Many retailers still use phrases that may give the wrong image and negatively impact our customers' shopping experience.
How to Negotiate Prices With Vendors
Learn how to bargain and negotiate prices with vendors to receive the best pricing and terms on products with these negotiation tips for retailers.
Five Community Involvement Tips for Retailers
Independent retail stores have a tough time in today's competitive landscape. But if you are a store that gives back to you community, the community will protect you.
Choosing a Type of Retail Business to Start
If you want to start a retail business, there are a wide variety of options available. Each business model has advantages, disadvantages and style.
5 Ways to Lose Customers
It is surprising how easily retail stores unintentionally drive customers away. And with online competition, it has never been more important to create an exceptional customer experience.
Can Retailers Prevent Shrinkage?
The percentage of loss of products between manufacture and point of sale is called shrinkage. There are five main areas of shrinkage in retail.
How to Better Your Business - Resolutions for Retailers
Retailers all have the same basic path to success. Take a look at the following ways to better your business.
5 Fun and Practical Gifts for Store Owners
Looking for a gift for the retailer or store owner on your list? Explore some of our top picks for practical and fun gifts that are sure to please.
The Top Ways to Beat Your Retail Competitors
It's inevitable that your retail business will have some competition, and while you can't control your competitors, you can minimize their impact.
Customer Pole Displays - Parts of a Retail Point of Sale System
One optional part of a point of sale system is the customer display or pole display. A lighted display for the customer to view transaction totals, amount tendered and some customer displays feature customized messages or can show advertising.
POS Keyboards - Parts of a Retail Point of Sale System
Keyboards for a point of sale system can vary in complexity and technology. They range in choices from a standard 101-key model like you may have on your home PC to industry-specific POS keyboards. Grocery stores and restaurants may need special functions that only programmable keyboards can provide.
POS Scanners - Parts of a Retail Point of Sale System
Bar code scanners vary in size and technology. The most common may be the small hand-held scanner, which works well for small retailers. Larger stores with heavy check-out activity may want to install an embedded scanner like the ones seen in supermarkets. Not only are bar code scanners accurate, time-saving devices when ringing up multiple products for a customer, they also serve as a handy tool to add inventory to the POS software’s database.
Signature Capture Devices - Parts of a Retail Point of Sale System
Credit card terminals may be integrated or added to the point of sale system. Some devices include credit card readers, but if the monitor or keyboard comes with a magnetic strip reader then all that is needed is a pin pad or other way to capture the customer’s signature. Besides credit and debit cards, signature capture devices can work with gift cards and other loyalty programs. These devices help streamline transactions and reduce the costs (and errors) associated with deposit paperwork.
Hanger Photo Gallery - Photos of Hangers Used in Retailing
Confused about the many different hangers available? View our hanger photo gallery to see examples of the most popular types of hangers used in retail.
Establishing Retail Rules and Store Policies
Establish policies for your retail business during the planning stages, including types of payment, product pricing, and hours of operation.
The Top Sale Event Names in Retail
Did you know there are thousands of terms used to describe retail sales? Here is a list of the top titles for your next event in your retail store.
Use Customer Service to Prevent Shoplifting
Did you know the best way to prevent shoplifting is through customer service? The better the service in your store, the lower the shoplifting activity.
Understanding Advertising Rate Cards
A rate card is a document provided by a newspaper or other print publication featuring the organizations rate for advertising. It also details deadlines, policies, additional fees and artwork requirements. Many newspapers and magazines have their rate cards online in a PDF format.
Readership vs. Circulation - Understanding Advertising Rate Cards
On most rate cards, the organization will show it's coverage area, demographics and circulation. Some publications also list their readership. Circulation is the number of newspapers that are printed and distributed each day. Readership reflects the actual number of people who read those newspapers.
Display Ad Rates - Frequency Discounts - Understanding Advertising Rate Cards
A frequency discount is a contract rate offering one of the best discounts for display ads. The best commitment is usually running a minimum size ad each and every week for a 52-week period. Some newspapers also have shorter periods such as 13 and 26-week contracts.
Advertising Page Layout With Ad Sizes
Not all rate cards use per column inch to calculate advertising rates. Many specialty newspapers and magazines offer certain rates based on pre-calculated ad sizes. Here are a few typical ad sizes.
Contract Rates - Understanding Advertising Rate Cards
Publishers offer an open rate without discounts. This is the rate that you would be charged for running a single, one-time advertisement. This is sometimes referred to as the non-contract rate.
Calculating Display Ad Rates Per Column Inch
When calculating the rates for a display ad, determine the number of column inches in an ad. Multiply the number of columns wide by the number of inches deep.
Display Advertising Mechanical Measurements - Understanding Advertising Rate Cards
There may be some variation in measuring ad space in different publications. Here are the definitions of column inch, standard advertising unit and pica.
Tips to Improve Retail Sales When They're Down
If you are in retail, your store will experience a slump in sales at some point. Here are ways you to improve sales and reverse the slump.
Motivating Retail Employees
Learn tips on ways to motivate your retail employees to get the most out of your team
Retail human resources management
Receiving Merchandise and Processing Incoming Freight
The individual tasks of freight processing vary from one retailer to another. Here is a warehouse receiving process.
How to Properly Receive Merchandise - Receiving Goods
When the products arrive, they may be in plastic containers, cardboard cartons, wooden crates or other packaging. Some merchandise may be on hangers, other items may be on pallets. Keep in mind that a receiving area is designed to receive, not warehouse merchandise. Each step of processing freight should be done quickly and efficiently. Page 2.
How to Properly Receive Merchandise - Pricing Merchandise
A crucial step of merchandise handling is pricing merchandise. The method will vary with each retailer. Some small shops may still place price labels directly on the product. Others use shelf labels as a means of communicating prices. Many retailers use bar codes and electronic point of sale to maintain inventory pricing. Page 3.
Product Pricing - Retail Price Guidelines - Pricing and Retailers
How much markup should you put on a product? What's the right retail price point for your industry? What will be your return on investment for a certain product line? Get answers to these and other product pricing questions.
Choosing Products to Sell in a Retail Business
Finding retailing products for your retail business to sell may very well be the most difficult decision you will need to make when starting a business.
Shoplifting Policies and Procedures for Retailers
It is important to plan policies and procedures for shoplifting in your retail store. It's a reality, not a possibility.
Startup Costs - Estimate Start Up Costs for Business Plans - Low Start-Up Costs
Starting a retail business? Looking for ways to keep start up costs low? Learn how to estimate startup costs, use our start-up costs calculator and find answers to frequently asked questions about startup costs when writing a business plan.
Learn about the ways technology can enhance your signage.
Insurance, Taxes and Legal Issues for Retailing Business
We've got your retail business covered with these resources for business insurance, taxation policies and legal issues for the retailer.
Lighting in Retail Stores
Learn about the different types of retail store lighting, light fixtures and other lighting techniques recommended for retailers and store planners.
Retail Merchandising - Displays - Shelf Stocking
In retail, merchandising is the practice of making products in stores available to consumers, primarily by stocking shelves and displays. Use these merchandising resources to learn how to create an attractive disply, get tips for product placement and receive other retail merchandising advice.
Retail Signage - Digital Signage - Store Signs
Learn more about the effective use of retail signage, the benefits of digital signage and other promotional signs. This category covers neon signs, billboards, digital signage systems and other retail store signage.
Store Fixtures & Displays - Resellers of Store Supplies - Retail Supply
Learn which store fixtures, shelving, racks and other retail displays to use in your store. Tips for selecting gridwall, pegboard and slatwall. Find online resellers of retail store display, hangers, store-use items and more retail supplies.