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Category Archives: Part 6: Merchandise Management and Pricing
Toys with Love: A Small Business Success
As we know, small retailers and entrepreneurs contribute a lot to the marketplace and give shoppers another option to the regional/national chain. One very successful such retailer is Toys with Love, which operates two stores in New Jersey. There are … Continue reading
Posted in Career Useful Information, Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 4: Store Location Planning, Part 5: Managing a Retail Business, Part 6: Merchandise Management and Pricing, Part 7: Communicating with the Customer, Part 8: Putting It All Together
Tagged competition, customer expectations, customer loyalty, customer service, entrepreneur, location, merchandising, planning, promotion, success, tips, Toys with Love, UPS Store
1 Comment
Retailers’ Interest in Outlet Stores
For many traditional retailers, outlet stores have become an essential part of their overall store strategy mix. Here’s why. According to Kyle Stock, writing for Businessweek: “High-end department stores are slumming … sort of. At pricey apparel retailers such as Neiman … Continue reading
Posted in Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 4: Store Location Planning, Part 5: Managing a Retail Business, Part 6: Merchandise Management and Pricing
Tagged competition, customer expectations, customer loyalty, discount, location, merchandising, multichannel, Neiman Marcus, Nordstrom, opportunity, outlet store, Ross Stores, segmentation, strategy, success, TJ Maxx
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Loyalty Club Members Up, Customer Loyalty Down
Customer loyalty is one of the key drivers of long-time retailer success. As a result, retailers have greatly expanded their loyalty programs to further incentivize repeat business, as the following chart shows. Nonetheless, sustaining customer loyalty is not an easy … Continue reading
Posted in Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 5: Managing a Retail Business, Part 6: Merchandise Management and Pricing, Part 7: Communicating with the Customer
Tagged competition, customer expectations, customer loyalty, customer service, experiential retailing, loyalty, membership program, technology
1 Comment
