Where Are We Heading with the “American Dream”?

Posted on October 4, 2012 by bermanevansretail
JWT Intelligence recently conducted a major research study on the future of the “American Dream.”
Click the photo to access the full 60-page report.

Posted in 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

Hi-Tech Means New Shopping Habits

Posted on October 4, 2012 by bermanevansretail
Take a look at this infographic from Symphony Teleca to see how smart devices and social media are impacting shopping habits. There is A LOT of useful information here.
Thanks to John S. for suggesting this post.

 

Linked to Mashable

 

Posted in Online Retailing, 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, Social Media and Retailing, Technology in Retailing | Tagged , , , , , , , , , , , | Leave a comment

Benchmarking: It’s Essential to Compare Performance by Store Category

Posted on October 4, 2012 by bermanevansretail
As we noted in May, the Retail Owners Institute provides a number of measures of financial peformance for 55 different sectors of retailing.
Here is why this topic is so important: “How can these benchmark numbers be used? First, for perspective.  Calculate  these ratios for your own business, and then see how you compare to your retail  industry segment. Have questions about how to read these  ratios, or what they really mean?  See The ROI’s Retail  Finance Basics section. Want a refresher on  the formulas and how to calculate these ratios with a pencil?  (See The  ROI’s “Cheat  Sheet” Quick Reference Guide.) Second, use these benchmarks when you are setting  your own target ratios for the next year.  And  third, you should know that when you are seeking a bank loan for your  business, the bankers will look at industry benchmarks such as  these as they assess your store’s performance.”
Click the image to access the benchmarking data.

 

Posted in Part 5: Managing a Retail Business, Part 6: Merchandise Management and Pricing, Part 8: Putting It All Together | Tagged , , , , , , | Leave a comment