Prepare Employees for the Expected — and the Unexpected

Posted on November 1, 2012 by bermanevansretail
HELLO: HOPE YOU ARE ALL SAFE AND SOUND. We’re still without power, Internet, and phone.  STAY SAFE!
Things do not always go as planned. So, having contingency (back-up) plans is essential.
As Robert Price notes: “Dealing with large crowds and unexpected events can throw a store into emergency mode. Having a plan to deal with the unexpected, and having a plan for what’s entirely expected, can mean the difference between an unmitigated problem and a manageable challenge.”
Click the logo to learn more from Price.

Posted in Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 5: Managing a Retail Business, Part 7: Communicating with the Customer, Part 8: Putting It All Together | Tagged , , , , , | Leave a comment

Hurricane Sandy’s Impact on the Economy

Posted on October 29, 2012 by bermanevansretail
Please be in a safe, secure place as you read this post. If you are in an affected area, business can wait.
According to Evan Gold of Planalytics (a business weather intelligence firm), writing for CNBC: “Hurricane Sandy, a rare, late season storm, is already having a significant economic impact and is poised to be one for the record books in both meteorological and economic terms. The exact amount of economic impact Sandy will have cannot be finalized until well after the event; however, this storm has the potential to be larger than Hurricane Irene, which had an estimated $10-$15 billion impact last year and was in the ‘Top 10’ most costly hurricanes.”
Click the photo to learn more.

The photo by Getty shows a lobby sign posting the closure of the Trump Casino as Hurricane Sandy approached Atlantic City, New Jersey. ALL AC hotels were closed.

 

Posted in Part 1: Overview/Planning, Part 4: Store Location Planning, Part 5: Managing a Retail Business, Part 6: Merchandise Management and Pricing, Part 8: Putting It All Together | Tagged , , , , , , , , | 1 Comment

Want to Compete with Amazon? Focus More on Private Brands

Posted on October 29, 2012 by bermanevansretail
To better combat showrooming, many retailers are increasing their use of private brands. Why, these brands are only available at specific retailers and not for sale at Amazon and other online behemouths. This enables the retailers to stimulate customer loyalty and not have to engage in margin-shrinking price wars.
Click the Forbes’ logo to access a good story by Barbara Thau on private branding as a tool for retailers.

 

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, Part 8: Putting It All Together | Tagged , , , , , , , | Leave a comment