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Explore insights and strategies in the Retail Strategy category, focusing on e-commerce advancements, brick-and-mortar transformation, omni-channel integration, consumer behavior analysis, and sustainability initiatives.
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Private label products refer to products owned by a company but are not made in-house. Companies procure their products from other manufacturers or manufacturers with contracts under their labels. You can find them in a wide variety of industries, from…
Shrinkage is a significant issue affecting the retail industry, causing over $50 billion in losses annually. It refers to the discrepancy between the recorded inventory and the actual stock available in a store. The main causes of shrinkage include shoplifting,…
When it comes to retail, there are two main options: being part of a franchise chain or operating as an independent retailer. While both have their advantages and disadvantages, this blog post will focus on the latter. As of 2023,…
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? In this comprehensive guide, we will delve into the concept of…
Markdown pricing is a necessary evil for retailers. It helps them reduce the price of products to increase sales and clear out inventory. However, markdowns must be part of a holistic pricing strategy for each product across its life cycle.…
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. It involves basic arithmetic, such as counting money and calculating change, as well…
Open-air shopping centers, also known as strip malls, have been gaining popularity in recent years due to the decline of traditional enclosed malls. Unlike their enclosed counterparts, open-air shopping centers are organized rows of stores spread over an area with…
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…
Sell-through rate is use to determine how much inventory they sell in a certain amount of time. Learning how to calculate and track this figure can help you evaluate how well your organization performs over monthly, quarterly or yearly sales…
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. Before the internet grew…