Posts Tagged ‘Sales’
by Veronica Stone on May 27th, 2009
By MIGUEL BUSTILLO
Some regional appliance and electronics retailers are flourishing despite intense competition from national chains, thanks in part to a retro retail concept: commissioned sales staff, trained to explain increasingly complex televisions and washing machines to customers.
These smaller retailers such as publicly traded hhgregg Inc. of Indianapolis and Conn’s Inc. of Beaumont, Texas, as well as closely held P.C. Richard & Son of Farmingdale, N.Y., are pursuing ambitious store expansion plans. They are aiming to capitalize on the slumping commercial real estate market and the collapse this spring of Circuit City Stores Inc., once the nation’s second-largest... Read more »
by Steve Strauss on May 21st, 2009
Q: With business slow, it seems like it might be a good idea to lower prices and cut our fees. However, I am also worried about eating into my profit margin, which is already pretty thin. What do we do?
TJ
A: I love this quote from the late, great Paul Harvey: “In times like these, it is good to know . . . that there have always been times like these!”
Sure, we have all heard that this Great Recession is the worst economy in 50 years, and it is, but that does not mean that there have not... Read more »
by Veronica Stone on May 15th, 2009
With e-retailers expected to buy less holiday season merchandise this year because of the economic downturn, they need to sharpen their strategies in coordinating pricing promotions with available inventory, says Paula Rosenblum, managing director at research and advisory firm Retail Systems Research LLC.
“Plan a pricing strategy, plan your inventory strategy, and make sure the two are in synch,” Rosenblum says.
She adds that retailers this year, worried about overbuying merchandise in an off economic year, may experience unusually high levels of inventory out-of-stock. If that turns out to be the case, it will be even more important for... Read more »
by Christina Lee on April 9th, 2009
The latest wholesale trade report surprised experts, as it indicated that wholesalers are more in sync now with the rest of the economy.
Wholesalers had cut inventories by 1.5 percent from the previous month’s levels in February, more than double of what Wall Street experts predicted. Since lower holiday sales led to more leftover goods than expected, cutting such excess inventory over the past few months became a necessary step toward economic recovery.
“It’s easy to see this reduction as an assurance that the contraction is continuing,” said Frank Ahrens, Washington Post analyst, in his column. “However, the sooner wholesalers... Read more »
by Christina Lee on March 11th, 2009
Steps taken by retailers to keep inventories lean are showing a bit of progress to accommodate to declining demand, as recent reports of early 2009 wholesale trade reveal.
As retail stores start sourcing their spring and summer merchandise, the National Retail Federation still expects a 5.3 percent rise in March retail container traffic from last month, a total of 1.07 million 20-foot-equivalent units (TEU).
At the same time however, such levels still fall below that of March 2008 by 7.4 percent – a trend that the trade group predicts to observe throughout the first half of 2009.
“This year’s numbers are... Read more »
by Leeia Ladipoh on September 12th, 2008
Without a doubt, the number one obstacle to running a successful online business is getting potential buyers to trust your website enough that they are willing to make a purchase.
Let’s be really honest; there are plenty of steps involved with the purchase and receipt of any online product from the release of a credit card number to final delivery – and potential customers will worry about every single one of these areas when it comes to making a purchase from a business they have not used in the past.
About Branding
There is a lot of competition in online... Read more »
by Veronica Stone on July 30th, 2008
In order to maximize your profitability during seasonal changes, specifically with the back-to-school season, you need to remove the guesswork. You need to know exactly how the market is going to behave to make the most money.
Predicting the Future
How can you know when the peak sales are going to drop off? You can’t predict the future can you? Of course we can’t predict the future, but we can learn from our past.
Retailers keep track of what happened previous years to know how to effectively sell this year. Managers order enough calculators not only to get them through... Read more »
by Carrie Hinkel on July 14th, 2008
Having an interesting and wide variety of products in your store is important, but without a creative way to display them, you could be missing out on a ton of sales! Think of your store’s display space as part of product marketing and promotion. You are trying to draw customers into your retail space and get them intrigued about your products. Now, what better way to do this than by creating a warm and cozy atmosphere that is logically laid out and with products creatively and attractively displayed? Once your store’s retail space is being used to its full advantage,... Read more »
by Rebecca Button on June 30th, 2008
Last year American’s spent nearly 2.5 billion to celebrate the 4th of July. This year, the weakened economy and soaring gas prices will take the air out of those revenue sales. According to the NRF 2008 Independence Day Consumer Intentions and Actions Survey , while two-thirds of Americans will still celebrate the holiday, many will be doing so at home.
So what can you do to help cash conscientious consumers enjoy their Independence Day this year?
Offer promotions, consider doing a PRE holiday sale and there’s no better way to attract customers than giving away FREE STUFF! Like gas for... Read more »
by Rebecca Button on May 23rd, 2008
The following is a great excerpt from an article on Forbes.com . It highlights some strategies retailers can use to help get themselves and their customers through the economic storm:
"In the short-term, retailers need to continue providing sales incentives, discounts and promotions that demonstrate value to the consumer. Incentive packages can be offered for cost-saving items such as fuel-efficient cars or energy-saving light bulbs. Innovative ideas to help consumers spend "extra" money will be critical. We have seen this happen already in the travel industry where some resorts are providing gas cards for guests driving to the destination.
Retailers... Read more »