Chain Store Age Cover Story: What CFOs Need to Know

Posted on July 7, 2014 by bermanevansretail
Chief financial officers (CFOs) have a lot to do with measuring and managing retailers’ financial performance.
In the latest issue of Chain Store Age, there is special coverage of the retail CFO.
Click the image to access the story (which begins on page 10 of the linked issue).

 

 

Posted in Part 5: Managing a Retail Business, Part 6: Merchandise Management and Pricing | Tagged , , , , , , , , | 1 Comment

Making Stores and Virtual Stores More Collaborative

Posted on July 5, 2014 by bermanevansretail
As we have noted before (click here, for example, 1, 2, 3), seamless multichannel retailing is challenging. 
To provide more guidance, Knowledge@Wharton and SAP have collaborated on a new report: Harmonize Physical, Virtual Stores to Lift Sales: 
“Imagine the owner of an old-fashioned general store in a small town. The door opens and he sees it is Mrs. Jones. He knows her husband and children, he can list the groceries she buys every week and the treats she gets now and then. He has a pretty good idea how much money her family has, knows the kids will soon need back-to-school clothes, and that a flock of relatives will be descending for the family’s traditional July 4 cookout. A merchant like this has products to suggest before the customer says a word.”
“Achieving this level of personalized service is the goal of today’s savvy retailers, but on a much bigger scale, and to do it they will use a range of technological tools to better know their customers. The successful retailer of the near future will create a consistent ‘omni-channel’ experience that will meld in-store shopping with features offered online and, increasingly, through smartphones.”
Click the image to read the full report.

 

 

Posted in Online 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, Part 8: Putting It All Together, Social Media and Retailing, Technology in Retailing | Tagged , , , , , , , , , , , , | 1 Comment

Small Businesses on LinkedIn

Posted on July 4, 2014 by bermanevansretail
LinkedIn is not just for large businesses to network. It is also valuable for small businesses.
As LinkedIn notes: “Did you know that 59% of LinkedIn members who have worked for a small business, have never worked for a company larger than 200 employees?”
Take a look at this infographic from LinkedIn.

 

 

Posted in Career Useful Information, Careers in Retailing, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 5: Managing a Retail Business, Social Media and Retailing | Tagged , , , , , , , , | 1 Comment