Monitoring and measuring your retail business’ inventory KPIs (key performance indicators) against a predefined set of metrics is key to your progress. By continuously doing this you can spot trends and gain insight that can help you make better decisions about your inventory. There are quite a few things to track, but where is a
Read More
Whether your customers prefer cold brew to espresso or specialty to a regular cup of Joe; they like coffee. It’s probably safe to say it’s one of America’s favorite beverages. According to the National Coffee Association’s recent annual report, about 35% of coffee drinkers drink their morning brew in a coffee shop. That’s a pretty
Read More
It’s one of the most widely used forms of consumer communication—SMS messaging. With a 98% text open rate vs a 20% email open rate, it’s clear to see why so many businesses are including SMS text marketing as a part of their strategy to boost sales. In this two-way communication between customer and business, there
Read More
Chinese, Italian, Greek, you name it—there are more than 1 million restaurants in the United States, and you can expect that number to grow. It’s forecasted that limited services restaurants will increase by 4.9%, while table service restaurants will grow a little slower at 3.3% in 2019. If you are considering opening a restaurant, you’ll
Read More
In order to know if your restaurant is making a profit, you must know your food costs. Knowing the costs not only helps you with profit margins, but it also helps you build your menu. You don’t want to build a menu with ingredients that your customers don’t want to pay for. You also want
Read More
Your retail check out counter space is important, not just because it’s where you make sales on your point-of-sale (POS) system, but because it’s that one last chance to sell, make your customers aware about an upcoming promotion, and provide great customer service. Here are 5 tips to maximize your retail check out counter space.
Read More
According to Facebook, 60 million businesses have pages. Does your retail business have a Facebook page? If not, you should. The path to increasing sales is to make sure people know about your products, right? Where can you find those who might be interested in your products? Look for where all the eyeballs are staring—Facebook.
Read More
The most popular holiday for dining out is coming up—Mother’s Day According to a survey by the National Retail Federation, Mother’s Day spending is expected to total a record $25 billion this year, up nearly 2 billion from 2018. About 55% of Americans will treat their mothers to a special outing, like dining out, for
Read More
Profitable retailers are constantly looking at their profit margins because they know it’s key to staying competitive, and most importantly, staying in business. These numbers are more than just metrics, they answer some critical questions about pricing. Are you priced too high, too low, or just right? Where is your sweet spot? Profit margins are
Read More
It can be a big let down, frustration, or even deterrent to customers when they find out you are a cash-only business, especially if they want to buy something with no cash on hand. While it’s standard practice to accept electronic payment these days, perhaps your business is considered high-risk, which is the reason why
Read More
