The 2024 holiday season is right here, spelling optimistic times for retailers. Deloitte’s Holiday Retail Survey projects an 8% growth in this year’s US holiday sales. As for Canada, sales increase is expected to hit a 32% rise, per JLL’s Holiday Shopping Survey Report. Clearly, the upcoming season marks a prime time loaded with retail sales opportunities in both regions. And like every year, this period isn’t just about increasing […]
It’s peak shopping season. A loyal customer logs into your online store, hoping to buy a product they’ve been eyeing for weeks. They’d seen it at your store earlier but wanted to do some research before committing. Now is the perfect time, and they’re ready to purchase. They add to the cart and hit checkout. And then, disappointment strikes with an “out of stock” message. Not only does the sale […]
We live in highly competitive retail times. Retailers are investing heavily in lead generation, paying an average of $34 for a retail lead. Yet, this isn’t translating into revenues as expected. Research suggests that the average conversion rate for a retail lead is as low as 3%. Understanding the why is essential to ensure this isn’t the reality for your retail business. Here’s the fact: Consumers today are bombarded with […]
Efficiency in warehouse and inventory management operations can make or break your retail business. However, research suggests that most retailers do not get the best of it. According to data, US-based retailers sit on approximately $1.43 in inventory for each $1 of sales. This overstocking translates into issues like capital blockages, increased costs for managing and keeping additional inventory, and the risk of shrinkage due to product expiry. In addition, […]
Given how competitive the retail world has become post-pandemic, the current times demand leveraging every possible advantage point to establish business competitiveness. This applies to both brick-and-mortar shops and eCommerce websites. Implementing a feature-rich ERP software tailored for retail steps here as a transformative tool for retailers looking to grow. A retail-business-oriented ERP helps to streamline different retailing business processes and unify data and various functions across retail stores. It […]
