by Christina Lee on October 6th, 2008
Even with the holiday season drawing near, store owners are continuing to brace themselves for slow sales with smaller inventories, according to National Retail Federation reports.
In addition, the trade group expects a 6 percent drop in yearly retail cargo traffic – 2 percent more than its prediction made less than two months ago.
For U.S. ports, October is traditionally the busiest time of the year, as store owners stock up for the holiday months. It is also when the National Retail Federation usually expects to see year-to-year growth. The D.C.-based trade group even predicted in August that October traffic... Read more »
by Leeia Ladipoh on November 29th, 2007
One very important concept when it comes to determining your business model is deciding what the lifetime value of your customers is going to be. The concept of the customer lifetime value has long been a part of the business world, and it will come into play in virtually every segment of your business – from year to year budget projections to promotions and even customer support options.
Simply put, customer lifetime value is how much money a customer will contribute to your business over the lifetime of your relationship with them, and it is always calculated in present dollars.... Read more »
by Veronica Stone on August 7th, 2007
Social Retailing
Here’s a new term that retailers will soon learn! Bloomingdale’s is trying to reach out to teens and young adults, so in its flagship store in New York City, it offered an interactive sales-floor mirror that let shoppers view themselves in outfits as well as comments – and images of alternate garments – sent to the mirror by their online friends!
If the shopper liked the look of the dress suggested by a friend, she can touch the mirror to make the image of the dress appear life-size, and then stand in front of it which will allow... Read more »
by Veronica Stone on August 6th, 2007
JUST back from Toy Fair in NY and it seemed like there was some business going on the first day. One vendor hawking his products to us boasts that soon it will be in Wal-Marts. As a small independent retailer do you think that is what I want to hear? So I can take my profit margin and slice it down the instant it hits the box store. What are some vendors thinking?
COLORS are important in your store. At Children’s Place stores they changed to blacks and browns. Said it was more sophisticated. Yes, of course, a sophisticated three-year-old!... Read more »