Managing inventory well can be the difference between success and failure. As you look to increase profit, seemingly insignificant manufacturing and purchasing decisions are often overlooked. Using product-level data lets you prevent lost sales and excess inventory by making data-driven decisions.
How To Be A Savvy Shopper
If you consider yourself a savvy shopper, you might want to check out this latest infographic which details just how retailers try and get us to spend more in their stores. Learn about the new ways that customers are typified by marketers and what their shopping behaviours tell us about their spending habits. Break away from the herd and discover how to get the best from your shopping trip. There are some great tips about the best times to go shopping and what to buy in advance. It even tells you how long you’ll spend shopping over your lifetime.
The infographic also tells us how to shop smarter and take advantage of designer and sample sales if you want to purchase the higher end brands or luxury gifts. Is it better to hold on for duty free? Or is it always cheaper to buy online? You won’t believe the amount of work that goes into marketing to shoppers and the lengths that retailers will go to for a sale. Using different size tiles to make you slow down in aisles for instance? Mind-boggling information; read on for more pearls of wisdom on being a smart shopper.
10 Keys to Building Your Retail Presence
There is a lot of common sense that goes into building a good retail presence, without which most consumer goods cannot survive, but relying on common sense alone is a fast path to failure.
A look at Christmas through e-commerce
With the pinnacle retail season fast approaching, the significance of all things e-commerce in heightening.
In recent years we have seen the epic rise of e-commerce whilst the once great British high street has suffered. Retailers are increasingly concentrating their efforts online to supplement sales and satisfy customer demand. With this in mind the emphasis on providing the highest quality service, delivering on time and keeping up with digital trends are more important than ever.
If your business isn’t already prepared for the Christmas rush, check out the infographic below to get more facts on how e-commerce and Christmas go hand-in-hand, the problem areas and the importance of getting it right.
Retail Trends Worldwide
Where in the world id the retail market thriving? Which emerging markets are set to be the retail hotspots of the future? Is Brazil going to remain an economic force after the 2014 World Cup and 2016 Olympics?
Find out the answers to all these questions and more using this retail focused inforgraphic brought to you by the expert retail team at Cegid UK.
Online Sales Trends – Size Matters
E-commerce revenue from the apparel and accessories industry is growing at 44% annually in the United States. By 2016, e-commerce apparel and accessories are expected to tally $73 Billion in sales, accounting for more than 20% of all U.S. online retail sales.
45 – 90% of all business expenses are a result of inventory costs. As a business owner you need to minimize costs, maximize revenue, and increase turn by making informed decisions about how many of each size to produce or carry.
Carrying excess inventory results in an additional expense for your business, which reduces your bottom line. Not carrying enough of the right products causes lost sales and gives customers the impression that your business is poorly managed.
A surprising find was how you label your product size does matter. Abbreviated size labels generate up to 38% more revenue than spelling out the size product labels.
Making smart purchasing or manufacturing decisions could be the difference between success and failure. As you look to increase profit, seemingly insignificant manufacturing and purchasing decisions are often overlooked. Using product-level data lets you prevent lost sales and excess inventory by making data-driven decisions.
Brought to you by Stitch Labs www.stitchlabs.com
The Future of Retail — According to Shoppers
Despite globally embracing online retail, shoppers still believe there will be room for their favorite brick-and-mortar shops in the future. In fact, a new survey reveals shoppers are ready for an elevated, cross-channel experience. Below, we take a look at what else shoppers predict for retail’s future.