Category: Retail Budgeting
Usually, a retail budgeting approach is concerned with sales objectives and KPI targets and things like that. These things are important. What many managers miss are the ways that customer experience affects budget planning....
Developing a budget is a basic aspect of retailing or any commercial enterprise. ChainDrive’s Retail Store Budgeting software is an essential tool for developing that budget because all the data your business generates is...
The software you use to set your budget is a tool that must be chosen carefully. Like all tools, it has to be capable of performing the task it is designed for and doing...
A good retail budget is the blending of proposed goals and realistic expectations. It is based on facts, which could be discouraging. But good budgets for retailers include the setting of appropriate sales and...
The first step in any budgeting process is figuring out where the money has been going up to that point. In the past, a family starting to set up a budget might sit at...
News reports of major retailers closing stores can make anybody a little nervous. But those reports make retailers particularly aware of the need to be aware of all that is happening in their industry and...
It is a fact of life for retail managers: budgets involve a lot of backtracking and research. Sometimes, the data you pull up doesn’t make much sense. How do you analyze data that needs...
Some people think like accountants. Other people think like CEOs. Then there are the creative types who think outside the box and an entire spectrum of thinker-types besides. When all these different styles of...
Store budget can get out of control real quick if you don’t get a handle on it. But how do you do that? With product purchases flying out the door, customers rolling in and...
Key Performance Indicators (KPIs) in retail help businesses plan and budget for the future. You should have KPIs for each aspect of your operation, but it helps to understand the benefits to having KPIs...