At this time of year, the retail market always gets more competitive, cluttered and chaotic. However, given the sector’s contraction in 2017, it is more important than ever to maximize your sales during the upcoming holiday season. To inspire you to stand out and sell, here are proven best practices from four retail dynamos to help you boost your sales revenue to stay competitive and grow your e-commerce site so you end 2017 strong.
There is a high chance that you’ve bought a private label product at least once in your life. It can be tomato sauce at the grocer, or it can be pills at your pharmacy—The fact is that people have become comfortable with private label products. Read on to know about private label definition.
As a rule of thumb, every business today is obligated to specific regulations in the sector in which they operate. Retail is no exception and is perhaps one of the more demanding business sectors due to the volume of work involved. Retailers must ensure they are fully in line with retail financial compliance standards to avoid numerous consequences such as fines and restrictions from regulatory bodies, damage to brand reputation, and so on.
When it comes to financial forecasting and analysis, the retail world sees its fair share on a regular basis. Perhaps more so than ever, the need for these processes is increasing week by week due to today’s rapidly developing online retail market. Companies rush to quickly adapt to constant fluctuations and uncertainties and financial forecasting allows them to know when to take more risks, and when to tighten the wallet. Having a deeper understanding of financial planning increases chances of avoiding bumps on the way. Continue reading “How To Forecast And Analyze Your Retail Financial Models”
There are blogs popping up left and right, claiming to have the freshest, most juicy information on making money in the marketing world. How are we to know which links are worth our while? How many times have you clicked on something promising, just to have to sift through a bunch of blabber and jokes that aren’t funny in order to get what you need? OR, maybe you’re the type that enjoys a little humor with your info! Continue reading “10 Retail Marketing Blogs You Need to Read”
It’s been just a few weeks since ‘Pokémon Go’ was released — a game that lets you live between the real world and its virtual one — and the world has gone crazy. Attracting kids and adults alike, this game has taken the world by storm, and is being played by millions of iPhone and Android users across the globe.
While players exercise their needs to discover new Pokémon, retailers stand to discover tangible benefits from the game — brands and marketers have more than one reason to be a part of the ‘Pokémon Go’ craze.
The retail space has certainly long known that pricing is a key factor in a customer’s decision whether to purchase a given product or service. However, while how much something costs is far from the only element influencing the sales process, pricing strategies continue to evolve as the marketplace becomes more and more crowded with emerging retailers. In particular, discount pricing — itself a tried-and-true method of boosting sales — has become less about simply dropping price points and more about strategically adjusting to fit the ever-changing nature of the market.
KNOW THE BENEFITS OF HASHTAGS
It was back in 2007 that the concept of the hashtag was first proposed. Twitter received a suggestion to use the hashtag for tagging group conversations. Initially Twitter rejected the idea, perceiving that the idea was too complicated for the fun-loving and fast-moving social media users. Over the span of a few short years, social media platforms like Twitter and Facebook have evolved and are no longer platforms for simply for peer-to-peer communication and funny cat videos. They are engines for commercial success – for brand growth and development along with marketing and promotional activity.
The big data trend has been gaining traction rapidly in the international markets. Almost all the multinationals have their own data analytics arm; or they outsource this service from the many data analytics companies that excel at it.
But, it is undeniably true that many organizations today are making data waves. But, it is also the undeniable truth that most Small Businesses are yet to join this bandwagon. It’s been estimated that with the rapid spread of mobile devices and the “Internet of Things,” the world is generating more than 2.5 billion gigabytes of data every single day.