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Retail Store Openings and Closings November 2015

Posted: Dec 15, 2015

November store openings and closings numbers from Chain Store Guide shows a significant increase in store closings. In October we saw 508 store closings and in November we saw 1546. New store openings in November we saw 66, a decrease when compared to the 106 we saw in November.  For November, we saw a 1480 net loss of stores up from the 402 net loss...Read more

Retail Store Openings and Closings October 2015

Posted: Nov 24, 2015

October store openings and closings numbers from Chain Store Guide shows a slight increase in store closings. In September we saw 412 store closings and in October we saw 508. New store openings in October stayed relatively unchanged at 106 when compared to the 119 we saw in September. For October, we saw a 402 net loss of stores.Viewing results from a geographic perspective,...Read more

The Buzzword You Need to Incorporate into Your Selling Strategy

Posted: Nov 17, 2015

“Clienteling”—This term has evolved from the process one would go through when working with customers or clientele to describing initiatives or programs (manual or software-based) that focus on these activities. Basically, it’s how to better serve your customers by concentrating on highly personalized service established over time through a learning relationship.The three things...Read more

Holiday Shopping Insights

Posted: Nov 10, 2015

The holiday shopping break-out continues as we try to drill down to the nitty-gritty on consumer and retail shopping strategy.You’d expect to see the big-box stores and retailers start their big holiday pushes now, but what about the smaller local retailers? A study by G/O Digital, which polled more than 1,000 U.S. consumers, showed that small...Read more

Tackling Organized Retail Crime

Posted: Nov 03, 2015

The National Retail Federation’s Organized Retail Crime survey was conducted July 13 to Aug. 6, 2015.  Sixty-seven retailers completed the survey with the purpose of identifying the scope of organized retail crime throughout the entire retail industry. Participant stores included department/big box; discount; drug; grocery; restaurant, and specialty retailers.Nearly all (97%) retailers surveyed reported that they have been a...Read more

Why Shoppers Prefer Bricks-and-Mortar

Posted: Oct 27, 2015

We can’t stress enough the importance of brick-and-mortar to the shopping public. Of course, shopping online offers consumers the perks of convenience that in-store buying doesn’t. At the beginning of the year, PwC’s Annual Consumer Survey found that 56% of respondents were most likely to purchase products online instead of in person because of lower...Read more

Preventing Lost Sales

Posted: Oct 20, 2015

According to a recent report from retail analyst firm IHL Group, retailers worldwide lose a staggering $1.75 trillion annually due to overstocks, out-of-stocks and needless returns. IHL’s research indicates the leading causes of out-of-stocks are:• Empty Shelves ($238.1 billion) • Inability to find help ($120.8 billion) • Price/offer didn’t match ad ($74.1 billion) • Staff couldn’t...Read more

Retail Store Openings and Closings September 2015

Posted: Oct 20, 2015

September store openings and closings numbers from Chain Store Guide shows a continuing drop in store closings. In September we saw 412 store closings, down from the 569 store closings we saw in August and 1523 in July. With new store openings at 119, we saw a 293 net loss of stores in September.Viewing results from a geographic perspective, the Midwest region saw the...Read more

Still Undecided on Mobile Payments?

Posted: Oct 13, 2015

More and more retailers are using payments through mobile phones. If you’re not on board, you probably should be considering it.Some of the hesitation to adopt this has been caused by lack of understanding of just how mobile payments work. One common misconception held by both retailer and consumer is that mobile payment systems directly access your...Read more

A Group Retailers Can’t Afford to Ignore

Posted: Oct 06, 2015

It’s about time Millennials share their spending power. It’s not that we don’t think you’re a driving force in trends and culture, but there’s a group that’s giving you a run for your money and retailers better regroup and take notice.Research firm Fung Business Intelligence Centre reported...Read more

Getting in the Holiday Spirit

Posted: Oct 02, 2015

This may be a little early for some to stomach, but not untimely, since Macy’s started festooning some of its stores with holiday decorations at the beginning of September. Around the same time, Wal-Mart rolled out an early holiday layaway program, allowing shoppers to pay for their holiday gifts in installments.While this sound a little crazy to...Read more

Store Closings, Store Openings and the Attraction of Niche Retailers

Posted: Sep 29, 2015

Lots of attention is given to bigger chain stores when they close because presumably, these store closings define the overall health of brick-and-mortar. But that’s too narrow a scope to take. More often, it’s not that physical stores will melt away into oblivion to give way to pure ecommerce, but it’s the lack of...Read more

New Metrics and Methods Provide Retailers with Real Sales Insights

Posted: Sep 22, 2015

Shoppers often learn about a product, retailer, or offer from a mobile ad and then visit one of its locations. But, the ability for retailers to track store visits back to a mobile ad has been difficult, until recently. Companies are filling this niche by providing important location-based data to retailers across the country. Retailers not only use these metrics...Read more

Retail Store Openings and Closings August 2015

Posted: Sep 22, 2015

August store openings and closings numbers from Chain Store Guide shows a significant drop in store closings. In August we saw 569 store closings, down by almost two-thirds from the 1523 store closings we saw in July. With new store openings at 72, we saw a 497 net loss of stores in August. This was a significant improvement over the 1464 net loss we say...Read more

Retail Store Openings and Closings July 2015

Posted: Sep 16, 2015

July store openings and closings numbers from Chain Store Guide shows a continued increasing trend in store closing. In July we saw 1523 store closing, up from the 1243 we saw in June.  With store closings far outpacing new store openings of only 59, we saw a 1464 net loss of stores in July.Viewing results from a geographic perspective, the Midwest region...Read more

Encouraging Store/Brand Advocacy Among Staff

Posted: Sep 15, 2015

Many times, stores focus so much on motivating the shopper to action, that the role of the store employee is overlooked.As a retailer, ensuring the experience the consumer receives inside the store matches the brand message they receive outside the store is vital to continuity and success.That’s where your staff comes in. Engaging staff to represent...Read more

Lessons to Learn from J. Crew

Posted: Sep 08, 2015

A couple of years ago, I wrote about J. Crew, citing them as a shining example of what retail does right. It was the darling of the retail world, with a stellar management team, which showed savvy design, marketing, merchandising and social media skills.Maybe it’s the biting-off-more-than-you-can-chew syndrome; perhaps it’s the arrogance of experiencing extreme...Read more

Customer Complaints Mean Business – or Lack of It

Posted: Sep 01, 2015

A recent study done by LoyaltyOne and Verde Group through the Wharton School showed that almost half of consumers reported having a problem on their last shopping trip. A couple of different scenarios occurred as a result: 81% decided NOT to bring up their dismay to the retailer and about one-third of those people said they were unlikely to recommend the...Read more

Workforce Management Solutions

Posted: Aug 25, 2015

With retail occurring across channels, new processes such as ordering online and picking up in-store have changed the game for managing and scheduling staff. Retailers are under pressure to make sure they have the right staff in the right place and the right time so new service requests can be fulfilled as they come in. Furthermore, store managers must implement...Read more

The Ever-Changing Landscape of Shopping

Posted: Aug 18, 2015

King Retail Solutions has completed its second annual survey showing when, where and how consumers shop. The study was broken down by gender and demographics.Women have more smartphones and shopping apps (80%) than men (71%). Millennials own even more smartphones (83%) and have more retail shopping apps than Gen X’ers (77%) who, in turn have more smartphones and retail apps than...Read more

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