Small Business Saturday Is BIG for Local Retailers

Posted on November 26, 2014 by bermanevansretail
Nestled in between Black Friday and Cyber Monday is a newer shopping promotion called “Small Business Saturday.” It generates several billion dollars in revenues annually. Founded by American Express in 2010, this shopping day is intended to promote the importance of supporting local businesses:
“In 2010, American Express founded Small Business Saturday to help businesses with their most pressing need — getting more customers. The day encourages people to shop at small businesses on the Saturday after Thanksgiving. The single day has grown into a powerful movement, and more people are taking part than ever before. This year, the big day is Nov 29.”
Small Business Saturday 2014

 

To assist small firms, American Express offers many tips. Click the image to see them.
Small Business Saturday 2 2014

 

And to assist shoppers, American Express has a locator for participating stores. Click the image to access it.

Small Business Saturday 3 2014
 

Posted in 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 | Tagged , , , , , , , , , , , , , | Leave a comment

Can “Cheap Chic” Retail Get Even Cheaper?

Posted on November 25, 2014 by bermanevansretail
A large customer segment wants to look good with their apparel, but — at the same time — pay less than before. The competition for for this segment is already intense and will probably become even more so with the U.S. entry of U.K.-based Primark.
As Peter Evans reports for the Wall Street Journal:
“Primark, the U.K. fast-fashion chain that sells T-shirts for a couple of pounds and doesn’t believe in online retailing, wants to make it big in the U.S. Don’t expect it to play by the rules. Jokingly nicknamed ‘Primani’ after the expensive Italian fashion house Giorgio Armani, Primark is a long way from being a luxury retailer. Dresses sell for the equivalent of $18, chinos for under $20, and boots go for $25.”
“Able to respond rapidly to changes in fashion tastes, especially among young shoppers, Primark has built its success on similar foundations to Hennes & Mauritz AB’s H&M chain and Inditex SA ’s Zara. Only Primark does it cheaper. In August 2014, Primark’s clothes were priced 48% below the market average in the U.K., according to research from Bernstein.”
Click the WSJ chart to read more.

 

 

Posted in Global Retailing, 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 | Tagged , , , , , , , , , , , , | 2 Comments

Kohl’s: Better Tailoring Prices and Assortments

Posted on November 24, 2014 by bermanevansretail
Kohl’s operates about 1,200 mid-priced stores in the United States. Its mission is “to be the leading family-focused, value-oriented, specialty department store offering quality exclusive and national brand merchandise to the customer in an environment that is convenient, friendly, and exciting.”
As part of its ongoing modernization efforts, Kohl’s has partnered with Oracle to enhance its merchandising efforts. According to Alicia Fiorletta, reporting for Retail Touchpoints:
“To optimize operations during ongoing business growth, Kohl’s began an overhaul of its core merchandising, inventory and pricing operations. With Oracle’s Retail Merchandise Operations Management software in place, Kohl’s is able to tap into a unified system of record for inventory, allowing the retailer to better serve customers across channels, as well as simplify the business user experience.”
“After updating its E-commerce operations with Oracle Commerce in 2013, Kohl’s rolled out the Retail Merchandising System and Retail Price Management solutions to better manage inventory, pricing, and promotions for a product line that includes more than one million SKUs. The solutions provide detailed intelligence into how well categories and individual items preform online and across the retailer’s 1,200 U.S.-based stores.” 
Click the image to read more.
 

 
Posted in Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 6: Merchandise Management and Pricing, Technology in Retailing | Tagged , , , , , , , , , | Leave a comment