5 Profitable Retail Specialties
In retail, there are almost as many specialty retailers as there are retailers. Of course, there are popular mainstays – jewelry, department stores, sporting goods, home decor, footwear, and apparel, to name a few....
Tagged: profit
Does Effective Product Management Increase Profits?
In retail, there are a number of ways to increase profits. Reduce expenses and increase sales are two very basic ways to impact profits. Do both and you are guaranteed to increase profits. But...
3 Principles of Open-to-Sell Wholesaling
Open-to-buy has been the practice in retail for many years. It’s based on historical trends. You can predict what will be popular for Christmas by analyzing what has been popular for Christmas for the...
3 Goals Store Retail Budgeting Should Shoot For
Setting performance objectives is the whole idea behind store budgeting. The defining of goals allows the allocation of resources to be appropriate for each specific target. And what is the hoped-for result of an...
How Do You Manage Customer Relationships?
Customer relationship management (CRM) is one of the most important aspects of running a retail business. If you can’t Manage Customer Relationships properly, then you may not have much of a relationship to manage....
