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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
Tag Archives: multichannel retailing
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
Butchering Profits
Within any grocer, the meat department tends to have high margins, while at the same time experiencing high losses relative to other departments. This is due to the nature of the product, being highly sensitive and perishable, therefore spoilage and … 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 2: Growing Revenue
In previous blogs (see Inventory Distortion – Part 1 & 2) we have discussed the advantages that can be gained from reducing inventory distortion, ensuring the right product is on the shelf at the right time; when the customer wants … Continue reading
Inventory Distortion – Part 2: Overstock: How much is too much?
Inventory distortion is an issue that can be analyzed and attacked from many different angles. It can develop from a number of sources, including distortions at the vendor level, or non-compliance and process failures at the POS. Attempting to ensure … Continue reading
Inventory Distortion – Part 1: Increase Revenue Quickly by Minimizing Inventory Distortion
Manufacturers and retailers have been scrutinizing the ongoing out-of-stock (OOS) problem for years. As we know, this OOS dilemma is hurting revenue growth for both the retailers and manufacturers involved. The average 8% to 10% OOS, which soars to around … Continue reading
Why Reorganize Retail Corporations?
When retailers fall short of their expectations, whether it be a measure of same-store sales or not meeting profit goals, a common practice in the industry is to completely reorganize their business plan. Falling behind same-store sales can be attributed … 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
Retail Grocery in 2012 and Beyond
The traditional ways of looking at retail profitability considers customer purchasing behaviors as well as product costs, costs to serve the customers, operational expenses and other such factors. Grocers profitability is affected even more by secondary factors, typically related to … Continue reading