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The main reason employees are so resistant to new systems is that every new process will mean more reports. We all know that store level employees are already inundated with more reports then they can handle. Any time I meet … Continue reading
Category Archives: Retail Trends
Increase Assortment and Raise Revenue – Part 2: Product Substitution
In the previous blog, “Increase Assortment and Raise Revenue – Part 1: New Product on Board”, we discussed the trend of retailers looking to boost sales by increasing assortment, either by adding new products or related services. To ensure the … Continue reading
Increase Assortment and Raise Revenue – Part 1: New Product on Board
Retailers are always looking to bring in more earnings, either through their existing revenue streams, or by introducing new products and/or services. Today more than ever, the retail industry seems to be focusing more towards the latter: in order to … Continue reading
The Three M’s – Merchandisers, Markdowns and Margins
I’ve spent quite a few years in the world of “markdown optimization” helping retailers implement solutions that determine the “optimal” price point that would give a sales lift while maximizing gross margins. From a store ops perspective taking markdowns too … Continue reading
Big Data – Insights to a Competitive Advantage
It is commonly thought that data is the foundation of information, and information is knowledge. Yet to gain true insight, large quantities of data may be needed. Today, big data is a term increasingly being used to describe the massive … Continue reading
Excellence in the Ordinary – Part 1: Reducing Loss
We make a great deal of assumptions in retail operations about how effective our associates are performing, responding to the needs of the business, and complying with company policies and procedures. Assumptions are often made that business is progressing as … Continue reading
Sustainable Profit Amplification
In recent years the British retail sector has been working to reduce their environmental impact. Consumers are becoming more environmentally conscious, and as retailers follow this trend, they stand to gain invaluable customer loyalty. Many retailers are quite rightly championing … Continue reading
Why Same Store Sales Don’t Matter
With all due respect to the analysts, journalists and consultants who make a living keeping track of all the companies that comprise the retail industry, it has been my opinion for some time now that the popular measures reported on … Continue reading
Big Ideas at the Big Show
Last week more than 1000 companies, from all over the world, representing different areas of retail came together for the 101st NRF Big Show in New York City to share ideas, innovations and information. Covering several days, NRF showcased the … Continue reading
Retail Resolutions
It’s that time of year again, when everyone begins to make New Year’s resolutions, and it should be no exception for retailers. I know that 2012 forecasts have already been made, and the sales goals have been submitted, so the … Continue reading