Retail Operations and Merchandising

A striking 82% of small businesses collapse due to mismanaged cash flow, not lack of profit. What, then, is the essence of operating cash flow? In this exploration, we’ll dissect cash flow analysis and provide you with the tools to adeptly calculate operating cash flow, fortifying your business against financial pitfalls. What is Operating Cash […]

Intuitively, we all know that games are fun, but what if you could use that insight to your advantage in retail? Well, you can! An increasing number of businesses have discovered plenty of value in blending gaming mechanics with marketing strategies. In turn, gamification in retail can help increase brand awareness, grow your customer base, […]

Point-of-purchase (POP) displays are a marketing technique used to draw shoppers’ attention to specific items in a store. They can be made from any solid material and placed in high-traffic areas of the store, including at the cash register or in-between aisles. POP displays can be temporary (freestanding displays or dump bins), semi-permanent, and permanent […]

Assessing your retail store’s performance is more than measuring conversion rates and in-store traffic. Instead, conducting a full retail store audit can offer more comprehensive insight into a store’s pricing, competition, inventory management, and visual merchandising strategies. As a result, retailers can lean on hard data from a store audit to improve operation, compliance, and […]

A retail markdown strategy involves a permanent price decrease on an item at the end of its lifecycle. The goal is to sell through all the stock and maximize gross margins. Without a retail markdown strategy, retailers may face over-stocked store shelves and lower sale figures. Therefore, small business owners that want to move their […]

In marketing, a product is anything that can be bought and sold that meets a want or need of a person, business, or organization. This article focuses on a specific kind of product, called consumer products. We will discuss four types of consumer products and how you can tailor your marketing efforts to successfully promote […]

If you want to grow your business, a good place to start is by reviewing your 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 these […]

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 […]

One of the most difficult parts of sales is actually closing the sale. But once you’ve finally gotten a customer to say yes, why not continue selling to them? This is exactly what point-of-sale advertising does. Point-of-sale (or POS) advertising targets a customer during a purchase to encourage them to buy additional items. What is Point-of-Sale […]

You can’t approach every customer with the same sales techniques because each buyer is uniquely different. In fact, shoppers are categorizable into seven groups based on their purchasing habits. By understanding the characteristics of different types of shoppers, you will be better able to meet their needs. Here are the seven different types of shoppers, […]