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When it comes to retail, there are two main options: being part of a franchise chain or operating as an independent retailer.
As ecommerce continues to grow, so does the number of returns made by customers. Understanding the state of ecommerce returns is crucial for any business looking to maximize profits and minimize losses.
As a consumer, you may have encountered the term MSRP when shopping for various products. But what does it mean, and how does it impact the pricing of goods?
Markdown pricing is a necessary evil for retailers. It helps them reduce the price of products to increase sales and clear out inventory.
Retail math is a set of skills that enables managers, sales associates, and other retail employees to perform essential tasks at both the retail and manufacturer level.
Open-air shopping centers, also known as strip malls, have been gaining popularity in recent years due to the decline of traditional enclosed malls.
Customer lifetime value (CLV) is a crucial metric for businesses of any size. It provides insight into the total revenue a business can expect from a single customer account throughout the business relationship, taking into account the customer’s revenue value and the company’s predicted customer lifespan.
ASOS, a prominent online fashion retailer, has recently faced significant financial challenges, with its stock becoming the UK’s worst-performing in 2022 after plummeting by 78%.
Fast fashion has become a ubiquitous term in the fashion industry, referring to the rapid production, distribution, and marketing of clothing that is inexpensive and quickly replaced by new collections.
Sell-through rate is use to determine how much inventory they sell in a certain amount of time.
Brick and mortar retail has been around for centuries, but it has evolved with time. The term “brick and mortar” (also sometimes used as “bricks and mortar”) was created in contrast to online shopping or e-commerce.
Everyday Low Pricing is a strategy where the products are provided to consumers at a lower cost or a discounted price over a longer time at a constant rate instead of releasing sale events.
A recent global survey conducted by Cloudinary, the image and video platform for many top brands, has revealed that effective use of visual content in e-commerce marketing can significantly reduce product returns.
Category killers have been around for decades, but their impact on local businesses and the retail industry as a whole has only become more apparent in recent years.
Consignment selling is a business model that allows individuals or businesses to lend out their items to a shop that contracts to sell them at an agreed price and split the proceeds in accordance with an agreed formula.
Off-price retailing is a growing trend in the retail industry. It offers customers an opportunity to buy high-quality merchandise at lower prices compared to regular retail stores.
Backorders are a common occurrence in retail. They happen when an item that a customer orders is not currently in stock and has a delayed delivery date.
Retailers need to track the cost of goods sold (COGS) to ensure they are profitable and reporting expenses to the IRS correctly.
