Business Setup and Management

“Show me a man with a tattoo, and I’ll show you a man with an interesting past,” Jack London. Tattoos are one of the most favored forms of self-expression. According to Ibis World, the number of tattoo businesses is 29,235 in the U.S. as of 2021, a 6.2% increase from 2020. Are you interested in opening […]

If you want to grow your business, a good place to start is by reviewing your retail pricing strategies. A few good questions include: How close are you selling to the manufacturer’s suggested retail price (MSRP)? What do your sales displays look like? Do you ever sell your products at a loss? We will explore […]

Are you looking for ways to improve your company? You can’t do it without understanding your customers and studying different consumer behavior types. Consumer buying behavior is about the actions and decisions that people undertake to purchase products or services. As well-known neuroscientist and author Antonio Damasio has said, “we are not thinking machines that […]

To survive in the overly saturated retail market, every business seeks new methods to gain a competitive advantage. One of these methods is the direct store delivery model. Many small businesses choose to deliver their products directly to the retailer or consumer to save money and time. This article will focus on what is DSD […]

Marketing pioneer and visionary Morris Hite said: “Advertising moves people toward goods; merchandising moves goods toward people.” Cross merchandising is a way through which Hite’s concept can be implemented. So, what is cross merchandising? It’s about bringing together complementary products from different categories to make the shopping experience more convenient. 2019 witnessed a 2.8% dip […]

All businesses lose customers. According to Profitwell.com, this average customer retention rate by industry is: Retail: 63% Banking: 75% Telecom: 78% IT services: 81% Insurance: 83% Professional services: 84% Media: 84% While none of these industries can keep all their customers, it is possible to decrease the losses. The first step is figuring out why […]

When running a business, there are two types of costs: fixed costs and variable costs. Any alteration in the fixed or variable costs may affect your company’s net income and breakeven point. Fixed costs do not shift with the amount of the items produced or sold; however, variable costs do. What is a Fixed Cost? […]

You’ve just hired a qualified candidate — someone you think is perfect for the job. Now, you’re tasked with training that person, showing them the ropes, and introducing them to their new role at the company. That can happen at the orientation. Orientation is the first step in the onboarding process. Often, a new employee’s […]

First-line employees in the retail industry are the first to communicate with customers. The responsibility of leaving a good first impression is usually on their shoulders, and as the famous saying goes: you never get a second chance to make a first impression. Politeness and readiness help your customers leave your store with a smile […]

Price is often the determining factor in whether or not a consumer will make a purchase. It is one of the primary measures customers use to compare products and services with those of the competition. Understanding price can help you make a pricing policy that will attract more consumers and increase profitability. It’s a bit […]