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When done right, a new product launch can be a big win for a brand. Apple is usually on the winning side of its product launches, with lines wrapped around the corner for the next iPhone or new gadget. A big part of a successful product launch is the price. Get the price right, and you can drive sales, hype, and long-time customers. Get it wrong, and it can be a public relations nightmare and flat sales.
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Managing retail operations holistically means focusing on each aspect of the business and managing each essential element of the operation effectively and efficiently. To be profitable, you can just focus on the business as a whole. You must focus on each component that makes up the business. That’s why, if you manage the following seven essential elements of your retail operation effectively, then the entire retail chain will be profitable and successful.
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Retailers of all stripes profit by controlling two cycles–the buying cycle and the selling cycle. If you control one, you only have half control over your merchandising. If you control them both, you’ve got your entire inventory in the palm of your hand. Here are some tips on controlling the buying and selling cycles, no matter what kind of retail operations you manage.
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Business Insider reported , in 2016, that there would be 27.7 million mobile point-of-sale (POS) devices in the U.S. by 2021. Of course, that doesn’t mean that all of them will be retail-centric. Mobile POS systems are becoming quite popular in the restaurant business. But they’re also catching on in retail, and for some very good reasons.
In 2019, even jewelry retailing has been touched by omni-channel retailing. What that means is, as a jeweler, you can’t rest on your brick-and-mortar laurels. You’ve got to appeal to your customer through multiple sales channels, but to do that effectively, you need to understand your customers. For that reason, ChainDrive recommends these five omni-channel best practices for jewelry retailers.
Black Friday, one of the most important shopping events of the year, arrives in just a few days. For retailers, Black Friday is a great opportunity, but one that also presents a lot of room for error. . Almost every retailer knows how important Black Friday is for holiday shopping success, but not everyone knows all of the ways brands can optimize their stores and online presence to maximize sales and shopper engagement — even at the last minute.
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Retailers who manage the product life cycle effectively are the ones who survive the next age of commerce. They are the most competitive, most profitable, and most enduring retail operations on the market. That’s true of both brick-and-mortar retailers and online retailers. Below are seven events in the product lifecycle that must be monitored consistently in order to keep your retail operation profitable.
Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.
Business Insider reported , in 2016, that there would be 27.7 million mobile point-of-sale (POS) devices in the U.S. by 2021. Of course, that doesn’t mean that all of them will be retail-centric. Mobile POS systems are becoming quite popular in the restaurant business. But they’re also catching on in retail, and for some very good reasons.
Retailers of all stripes profit by controlling two cycles–the buying cycle and the selling cycle. If you control one, you only have half control over your merchandising. If you control them both, you’ve got your entire inventory in the palm of your hand. Here are some tips on controlling the buying and selling cycles, no matter what kind of retail operations you manage.
In 2019, even jewelry retailing has been touched by omni-channel retailing. What that means is, as a jeweler, you can’t rest on your brick-and-mortar laurels. You’ve got to appeal to your customer through multiple sales channels, but to do that effectively, you need to understand your customers. For that reason, ChainDrive recommends these five omni-channel best practices for jewelry retailers.
Managing retail operations holistically means focusing on each aspect of the business and managing each essential element of the operation effectively and efficiently. To be profitable, you can just focus on the business as a whole. You must focus on each component that makes up the business. That’s why, if you manage the following seven essential elements of your retail operation effectively, then the entire retail chain will be profitable and successful.
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