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Online sales will reach 22% of global retail sales by 2023, according to eMarketer. Since ecommerce sales accounted for 13% of total sales in the third quarter of 2021 in the US alone, it seems to check out. Shopping online is convenient, which is why it’s so popular. And while that works to the advantage of a modern consumer, the same can’t be said for the people behind the brands. The digital merchandising struggle is real, especially when compared to visual merchandising in physical stores. It takes a lot of convincing to convert lurkers to shoppers since they can’t personally The post What Is Digital Merchandising and How Do You Implement It? appeared first on Vend Retail Blog.
Quick take: Sales promotions can do wonders of your top line revenue, but running them successfully isn’t just about putting up a SALE sign in your shop. To get the most out of them, you need to consider the type of promotions to offer as well as how to execute them. From percentage discounts and “dollars off” to BOGO and free shipping, there’s are several promotion types you could try. This post shows you how to figure out what promo to run and how your POS system can help. Promotions are almost always part of a retailer’s sales and marketing The post 8 Types of Sales Promotions in Retail (and How to Implement Them) appeared first on Vend Retail Blog.
We’re nearing the end of the year, and as a retailer, this can only mean one thing: the winter holidays (aka: the most lucrative period of the year) are here. Competition is always fierce during this time, and 2022 promises to be a busy one. The National Retail Federation (NRF) states that the upcoming holiday season is “expected to be healthy even with recent inflationary challenges.” In fact, the NRF is forecasting November and December sales to increase between 6% to 8% over 2021 In an official statement, NRF President and CEO Matthew Shay says that “While consumers are feeling The post 10 Holiday Marketing Ideas and Examples to Implement in 2022 appeared first on Vend Retail Blog.
Stockouts almost always make it to the “worst nightmare” lists of retailers, and for good reason. Not only do they lead to lost sales, but out-of-stocks also result in reduced customer satisfaction and lower loyalty levels. Shoppers often feel let down when you don’t have what they’re looking for, and the last thing you want is to disappoint customers. Fortunately, though, there are a number of solutions to your out-of-stock woes. Many causes of stockouts can be prevented by taking steps to better understand your business and products, and by refining your store’s processes. To give you a better idea The post Avoiding Stockouts: 6 Preventable Causes of Out-of-Stocks and What to Do About Them appeared first on Vend Retail Blog.
Being the busiest shopping season of the year, retail sales during the holiday months can represent as much as 30% of annual sales. That’s a lot of revenue — and it takes a lot of additional work to achieve. That’s why the holiday season always brings about a spike in temp hiring. If you’re one of the many merchants looking to hire seasonal employees in the next few weeks, it’s high time that you start looking, vetting and training people. Remember, you’re competing with a lot of other retailers for talent these days, so the sooner you get started, the The post How to Hire and Train Seasonal Staff for the Holidays appeared first on Vend Retail Blog.
As any retailer would tell you, purchasing inventory comes with a certain amount of risk. Stocking retail products typically follows the process where the retailer purchases goods from the supplier then sells those products for a profit. However, if customers don’t purchase enough merchandise, the retailer is stuck with unsold products that they either need to markdown or unload. This is where consignment inventory comes into play. Consigned inventory reduces the retailer’s risk because the consignor (i.e., the supplier or vendor) retains ownership of the merchandise until they’re sold. This means that the consignee (the retailer) doesn’t need to purchase The post What is Consignment Inventory and How Does It Work? appeared first on Vend Retail Blog.
We all know that humans are highly visual. Here's 8 retail design tips to help you gain people's attention and boost sales. The post 12 Retail Design Tips to Help You Boost Sales appeared first on Vend Retail Blog.
If you’re a brick and mortar merchant, we’re willing to bet that you’re constantly cooking up ways on how to increase walk-ins in your retail store. After all, more visitors lead to more opportunities to drive sales, which means a higher bottom line and healthier business overall. But how exactly can you drive footfall to your retail location? To answer that, we’ve compiled 10 ideas and examples for how to increase retail footfall. Go through them and try to incorporate these pointers in your retail marketing strategy. 1. Keep up with the seasons — and pop culture Nothing keeps people The post How to Increase Walk-ins in Your Retail Store: 10 Ideas to Drive Footfall appeared first on Vend Retail Blog.
Unless you’ve been isolated from the retail world all year, then you know that the holidays are (practically) in full swing. Shoppers will soon be flocking to retail stores to purchase everything from Christmas gifts and decor to holiday outfits and supplies. And while the uptick in traffic is great news for retailers, the holiday season is also the most competitive sales period for stores. This means you need to work extra hard to grab your customers’ attention and drive sales. One key step to doing that is setting up compelling holiday retail displays. Visual merchandising often serves as the The post 6 Holiday Retail Display Ideas to Try This Season appeared first on Vend Retail Blog.
Gift cards. No matter what type of store you have or how big your business is, you’ll likely benefit from carrying them in your shops. As retail expert Kevin Graff said, “Gift cards are God’s gift to retail.” Why? For one thing, customers who use gift cards tend to spend more. According to a survey by First Data, “respondents who receive either a plastic or a virtual gift card said that they spent an average of $23.41 beyond the original value of the gift card.” Not only that, but shoppers are also more inclined to head to a store if they The post How to Sell More Gift Cards in Your Retail Store: 8 Proven Ways appeared first on Vend Retail Blog.
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