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3 Ways to Squeeze More Profit Out of Your Retail Store

What is the mission of your retail store? Are you a value provider of fashion for all seasons and occasions? Or is your store mission to attract consumers who demand high-end designer goods regardless of price? It does not matter if you specialize in purses, childrens clothes, maternity, swimsuits or men’s suits – they are all designed to bring in sales and profits.

Regardless of whether you are a new business owner or someone who has owned or managed a retail store for years, your company wants to maximize revenue to drive profitability for the business and its stakeholders.

To help take your business to the next level and ensure your profits are at an all-time high, implement the following strategies to squeeze maximum earnings from your retail store.

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Keyboard to the Car: Buying Online, Picking-Up in the Store

Has your clothing company recently launched a Buy Online, Pickup in Store policy? Has this idea proven itself to be an inspiration or an impediment?

Buy Online, Pickup In-Store: The BOPIS Strategy

It is such a simple idea: sync inventories to networks and search engines, provide consumers with virtual shopping carts and then let them reap the rewards of online shopping and in-store pickups.

Convenience serves as the cornerstone of this next-generation marketing.

The Buy Online, Pickup In-Store (BOPIS) strategy promises to be the salvation of retailers – and with good reason. It delivers undeniable value to customers, and this translates to stronger sales and improved relationships.

Despite the appeal of next-day delivery, the physical store still bests the online model by delivering what consumers value above all else — instant ownership – Lee Peterson, executive vice president of Brand, Strategy & Design at WD Partners.

Nothing is perfect, however, and BOPIS is no exception. Challenges counter every advantage, forcing companies to examine thoroughly whether this tactic should be implemented or ignored. Let’s find out!

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10 Ways Retailers Can Stop Leaving Money on the Table

Do you know what you need to do to create lifelong customers? Want to know what retail technology industry leaders are using to help maximize their profits and build customer loyalty?

Smart retailers are always looking for ways to increase profits. These 10 strategies will help you stop leaving money on the table.

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retail upselling - increase the value of every sale

Retail Upselling and Cross-Selling: How to Increase the Value of Every Sale

If you work in retail, you may be well aware of the importance of steering shoppers to the fitting room soon after they have entered the store. There’s an excellent reason for that – customers make the final purchase decision on an apparel purchase in the fitting room. And that’s just for the items that caught their eye from the window.

Once a customer is in the fitting room, they are a captive audience. However, it’s important to make sure they don’t feel trapped. There’s a fine line between attentive and annoying, and sales associates must learn how to stay well back of that line.

The most successful retailers take advantage of a customer’s time in the fitting room by encouraging them to turn that purchase of a single item into a larger sale. How exactly do they do that? Through the fine art of upselling and cross-selling!

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