In the hustle and bustle of modern life, where stress and emotional upheaval are often just around the corner, many have turned to a unique form of self-care known as retail therapy.
In today’s competitive retail landscape, companies face the challenge of determining the optimal breadth and depth of their product line strategy.
Footfall, also known as People Counting or Traffic Counting, is a crucial metric for businesses and organizations with brick-and-mortar store locations.
Retailers both in-store and online employ various sales tactics that to some may be seen as manipulate, simply because they try to motivate shoppers to buy their products.
Specialty retail is a term that is often used in the retail industry, but many people may not fully understand what it means.
In today’s digital age, retailers are expanding their reach and diversifying their revenue streams by launching their own retail media networks.
Online fashion retailer Asos has announced the launch of a new initiative called ScaleUp, aimed at bridging the gap between the fashion industry and ethnic minority-owned brands.
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.
Shrinkage is a significant issue affecting the retail industry, causing over $50 billion in losses annually.
When it comes to retail, there are two main options: being part of a franchise chain or operating as an independent retailer.
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.
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.
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.
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.