It seems that the retail environment is increasingly challenging every day. With retailers being squeezed by competition from the Internet, being challenged to defend their base of established customers and facing difficulties navigating new marketing programs it is becoming clear that the best way to differentiate their businesses is by providing a top quality customer […]
A recent article from Business Insider caught my eye. It was discussing how IHOP has bucked the trend of declining sales in the casual dining sector and how one of the ways it so was be reducing the size of and simplifying its menu. Just like many restaurants, many retailers try to boost their sales […]
It is the new year and many retail field managers are taking over new markets and many owners are thinking of expanding their operations. If that is the case, this article is for you! Taking over a Problem Market I remember when I made the jump from running one retail store to running my first […]
Surveys show that the retail industry consistently ranks below the national average for compensation and benefits. We know that some of what drives this is that retailers are at the end of the supply chain and as such have to absorb the entire cost of the product plus cover their own business costs. But […]
For retailers – or any business for that matter – cash flow is a key metric. Having free cash at the end of the month is often the difference between keeping the doors open or closing for good. Additionally, having free cash on hand gives you the ability to quickly react to market trends by […]