Related Articles

• Retailers: Unleash your imagination!

  

  As we often discuss, retailing is a very dynamic industry, constantly changing and evolving. To be successful, retailers must pass frequent flexibility tests. So we paid particular attention to this recent headline in the New York Times*: "The freshest ideas are in small grocery stores." 

• NPR = Never. Pay. Retail.

  

  A new consumer study by First Insight* confirmed: “Today’s consumers expect discounts every time they shop.”  The documentation of this phenomenon – what we often refer to as “NPR: Never Pay Retail” – is not surprising. But it is quite sobering.

  And then there is this (why do we need to be reminded?): In the battle to deliver "what the customers want", discounts offered have to be real! 
  
  Yes, even if your name is Amazon!

• No Surprise Here: Optimistic Retailers Look to Expand

  

  The National Retail Federation sponsored a survey in early May of retail small business owners across the country (those that meet the SBA definitions for employee size and revenue.)
  
  Contrary to the doom-and-gloom of the "Retail Armageddon" stories, this survey confirmed that retail owners are optimistic and looking to expand.

  Few believe their business will be in worse shape in 12 months;

  Nearly half expect revenues to increase;

  Many have goals for expansion or implementation of new technologies.

• Group Buying for YOUR customers

  

  Have you heard about Boxed? It’s an online store that’s been called “the Costco for Millennials.”

  
  

  What especially intrigued us, however, is this new feature Boxed has announced: group orders.

  Customers can now do a group order online by sending links to others to collaborate on an order.

• Oh Those Returns Policies

  

  We read recently of a service that enables retailers to essentially outsource their decision-making regarding refunds and customer returns.  Yes, to an algorithm.

  Used especially by large national chains, it applies technology to accept or reject attempted returns.

  Have questions about your return being denied? The store employee directs you to contact the return authorization service. 

  Well, that's one way to handle returns, isn't it? And it may be very appropriate for large national chains that are particularly susceptible to fraud or so-called "returnaholics."

  But for local retailers, return policies are one of the most complex management issues in retailing.
  

  
  

• Ominous Impacts from "Tariffs Wars"

  

  The so-called "Tariff War" that's in the headlines these days seems to most of the public to be a yawner, a distant spitting contest. 

  But to us, it seems much closer to home.

  We're in the business of helping retailers and, when we can, providing a heads up when we see trends that may be impactful. The current trade disputes between the United States and most major countries in the world is one of those times. Retailers need a heads up.