Tag: pricing

January 5, 2023

Although there are signs that inflation is easing, higher prices and an uncertain economy continue to impact consumer behavior. Although many customers are “brand loyal,” given the economic environment, stressed consumers nowadays will most often make retailer and product choices […]

December 16, 2022

Retail sales fell 0.6% in November 2022 compared to the previous month, though they were up 6.5% from November 2021, according to Commerce Department data. The decline occurred despite muted inflation of just 0.1%, according to the Bureau of Labor […]

August 10, 2022

Retailers are facing a dilemma. Record inflation is forcing unwanted price increases while eroding already frayed consumer loyalty, hitting their bottom lines. Retailers can escape inflation’s grasp, and counter revenue erosion — but to do so, they must look far […]

June 29, 2022

American consumers are right to feel like they can’t catch a break right now. Just as people were eagerly starting to put a trying pandemic behind them, another formidable beast entered the room: inflation. U.S. inflation shot up to a […]

June 10, 2022

Many retailers today face two major problems: supplier cost increases and overall supply shortages that are driving inflation rates higher than have been seen in at least 40 years. As a result, retailers are experiencing a daunting dilemma: to choose […]

April 7, 2022

Many factors go into customer loyalty, from the most basic (offering quality products that shoppers want) to more emotionally driven considerations. But just because these reasons are less tangible than a retailer’s product assortment, it doesn’t make them less important. […]

March 15, 2022

Inflation was already running hot even before Russia’s invasion of Ukraine, reaching 4.7% for 2021 — the highest annual rate since 2008’s 3.8%. Then war and corresponding economic sanctions sent prices of oil and other commodities soaring. Retailers trying to […]

September 24, 2021

Whether you’re a first time business owner or seasoned entrepreneur, your new clothing store will benefit from having a formal business plan. A business plan is a document that outlines its intended purpose and goals, and helps serve as a […]

April 29, 2021

For years, retailers have faced accelerating pressures on margins and profits as competition proliferated both online and in brick-and-mortar, as shoppers grew less loyal and as complete price transparency became the norm. The global onset of the pandemic further accelerated […]

November 16, 2020

Staying competitive in the new reality is like a giant question mark for most retailers. Industry experts seem to agree that it’s not about just a simple act of selling something anymore — it’s about offering a gratifying and preferably […]

August 24, 2020

One of the more jaw-dropping retail statistics of the past few months is the more than 400% increase in Walmart shopping app downloads. Target and other big box stores experienced triple-digit jumps as well. Meanwhile, Amazon has had several pains […]

January 25, 2017

According to a survey by the National Federation of Independent Business, the overwhelming majority of small businesses believe they can double their sales and increase their workforce within five years, and 83 percent think expanding would be a positive experience […]

January 4, 2017

With so much attention surrounding the upcoming EMV deadline, it’s important to know the facts – as well as who to lean on and where to turn when you need some information. There are countless resources out there to help […]

September 13, 2016

The end of summer brings Labor Day picnics, last minute beach days and, of course, the traditional back-to-school shopping trip. Times are changing, though: the days of jumping in the station wagon and heading to your favorite retailer for the […]

May 10, 2016

Although the retail industry continues to see an increase in technology resources, for many retail SMBs, concepts like data analytics and the Internet of Things (IoT) might seem like investments and expertise out of their reach and comfort zone. Having […]

March 7, 2016

How would your infrastructure fare at its own checkup? Is data flowing smoothly through your system, regardless of environment or traffic? The sales floor, in particular, can suffer from signal interference due to lighting, metal and glass fixtures, escalators, and […]