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Tag Archives: wages
Are Wages on the Verge of Rising Again?
Positive performance of the Gross Domestic Product? Check. Unemployment rate still dropping? Check. Energy prices down from last year? Check. (Despite some recent price increases). So, why haven’t U.S. wages risen faster and higher than they have? Are wages finally … Continue reading
What Do Container Store, Costco, and Whole Foods Have in Common? (Besides Their Success)
While the national debate about the minimum wage still rages (see 1) — and many retailers oppose any increase, some retail chains have gained a competitive edge through higher wages. They believe that happy employees mean happy customers. Three such … Continue reading
Posted in Career Useful Information, Careers in Retailing, Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 5: Managing a Retail Business
Tagged best, career, competition, Container Store, Costco, customer expectations, customer service, employees, salary, strategy, success, trust, wages, Whole Foods
1 Comment
Will Weak Wages Impact Holiday Shopping?
Although the U.S. unemployment rate has come down in the years following the Great Recession, wages have not really bounced back in real terms (taking inflation into account). And, according to the Bureau of Labor Statistics, the gap between the … 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 customer expectations, customer satisfaction, Great Recession, holiday 2014, merchandising, multichannel, online shopping, planning, pricing, promotion, shoppers, shopping, trends, wages
2 Comments
Retailers and the Minimum Wage
There has been a lot of discussion and debate recently about the impact of a raise in the federal minimum wage (to perhaps as much as $10.10 per hour, compared to the current $7.25) on retailers — both large and … Continue reading
How Costco Keeps on Clicking
Costco is one of the world’s master retailers with a unique strategic approach. It has a no-frills, deep-discount philosophy — yet, it still treats its employees really well (as we have reported before). In recognition of Costco’s prowess, the company is … Continue reading
Posted in Global Retailing, 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 Costco, customer expectations, customer loyalty, customer service, employee, employee satisfaction, global retailing, human resources, multichannel, planning, success, trust, wages
1 Comment
Valuing Employees Through Good Pay
Paying low wages to retail employees may keep costs down. But that does not mean this is necessarily the most profitable path to pursue. Consider these observations from Sophie Quinton, writing for theatlanticcities.com: “Many employers believe that one of the … Continue reading
