Technology Trends that are Vital to the Retail Industry’s Future after this Pandemic

Technological innovations are our answer to the challenges brought by the COVID-19 outbreak. Today, there has been a big change on shopping, online experiences, and even in the way physical stores are expected by customers.

Technology is one of the remaining reasons why the retail industry is still running.  Here are some of the tech trends that are in demand today:

Fully Integrated POS Systems

The COVID-19 pandemic made many business owners realize the importance of e-commerce platforms in optimizing online sales processes. This is evident to the rise in the demand of E-Commerce-Friendly POS systems which help retailers to sell online.

Business owners are now handling multiple sales channels such as brick-and-mortar and e-stores. But they must sync both online and offline transactions, inventory, and promotions. This is where, e-commerce and POS integration will be an optimal solution both during and after the pandemic.

Augmentation in Shopping

When almost everyone was forced to isolate due to COVID-19 quarantine, there was an increase observed in the demand for technologies such as virtual fitting rooms. It seems that the outbreak made augmented shopping an ideal choice for customers because it allows them to interact with products online.

Several brands already opened their own virtual showrooms and fitting rooms to let customers try on products in virtual spaces. Certain businesses also made use of apps to help their customers have a vision of what new furniture will look like in their home.

There are also some systems that are already showing significant potential for the future of augmented shopping. Some allows shoppers to see the look of virtual items when placed on the physical surfaces while some creates realistic interactions between virtual and real goods.

Non-Staff and Cashier-Free Stores

This might not seem good for workers and staff, but if we think about it, social distancing is an efficient measure to prevent coronavirus infection. So, stores that are cashier-less and staff-free are ideal in a society where being too close to someone can get you sick. It does not apply to everything yet though. But for sure it is considerable for many businesses.

Some studies also revealed that there is a change in the shopping habits of customers due to the COVID-19 pandemic, in fact, they showed that customers would rather go to stores with contactless or self-checkout stores. This is also expected to give way to the integration of tools that enables digitalization.

Systems that doesn’t require any account or app to be installed would be much convenient for customers because it does not need much effort and it is as close as people can get to going in, grabbing something, paying for it, and leaving out of a store.

Checkout-less transactions

This is where credit and debit card users can automatically pay for their purchases when they leave the store. This is made possible by systems that track items being put on physical carts by the customers, so it is like having a virtual cart. The customer can then just leave after completing the purchase as it will be paid automatically.

This COVID-19 pandemic has brought us all down to our knees, but on a positive note, it opened many opportunities for us to improve in what we do. It just means that in any problem, we can always find a way to learn and develop so we can overcome what’s in front of us.

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Is there a future for the fashion industry amid COVID-19?

Looking good and being fashionable is the last thing that people would want during this time where there is an ongoing pandemic.  This explains why there is a significant decline in sales for fashion retailers starting March.

For people who lost their jobs or closed their businesses due to travel restrictions and physical distancing, non-essential items such as luxurious clothing, jewelries, and cosmetics are off the list.

But there’s hope in e-commerce because even though social events where dressing up is required are canceled, there is still a huge percentage of people who are continuing with their regular purchases. This increases the chance for the fashion industry to get through this crisis. This is if brands within this sector will be more creative, innovative, and digital.

There are some product sectors that are seeing an improvement, this includes Casual Clothing, Beauty, Lingerie, Athletics and sportswear, and Footwear.

Casual Clothing

Buying a new outfit is still considerable for many because people are still able to enjoy staycations, sleepovers, and indoor picnics. Some who are spending their days working or studying at home are also more likely to have the urge of buying new wardrobe. This shows that people still want to look presentable and comfortable even when they are just being seen by their peers virtually.

Beauty and Health

There may be a decrease in the number of people spending on beauty and cosmetics, but more than half are spending the same. While a significant increase is being seen on the number of Gen Zs and Millenial consumers.

Health products such as vitamins, alcohol, and sanitizers are also on the rise since this is a health-related crisis. While when it comes to more luxurious items, there are a number of people who are trying to lift up their mood during these difficult times by treating themselves with joy-enhancing products such as pieces of make up or cologne.

Lingerie

More and more brick-and-mortar stores are transferring to e-commerce, so it is becoming easier and more convenient for people to browse and check-out items. Seems like people who loves bikinis are still hoping to have a wonderful summer even when indoors with their lingerie.

Athletics and sportswear

Not because people are confined in their homes doesn’t mean they will just miss their daily workout routines. In fact, many consumers are more eager to compensate for all the steps they lost from walking since they are stuck at home. So, they are trying different workouts and exercises. That is what pushes them to buy athletic and sports gear which can help them maintain their good physique.

Footwear

This sector owes the increase in its sales to the younger generation who are showing motivation in purchasing products online. It seems that for Generation Zs and Millennials, there is no good or bad time for products including footwears. But experts see that this attitude has something to do with their excitement to go out and do what they usually do when everything is still fine.

Perhaps these youngsters have already planned all their night outs for when this pandemic is over. So they are now hoarding new jewelries, clothing, and footwear so they can flaunt their fashion when it’s already safe to go out.

The COVID-19 outbreak is a defining moment for brick and mortar stores. We cannot say for certain if their operations can still recover especially now that the shift to e-commerce has already showed consumers how shopping online is more appropriate for a post-COVID world.

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Lessons that Retailers should learn from this crisis

Before the world is torn apart by another health crisis, people should already learn from this coronavirus pandemic to be better in overcoming the challenges that they will face. Not only health professionals and government officials but also business leaders and owners should learn their lessons so they can carry the weight of their responsibilities.

Retailers should set their priorities straight. Keeping their employees safe is first and foremost. Establishing good, centralized communications should come next, and last but not the least, stabilizing their operations to ensure smooth recovery.

Here are some post-crisis strategies focused on taking immediate and decisive action.

Identify the essentials – In order to effectively operate remotely, retailers should lead proactively. A perfect example of this is by knowing that the well-being of their employees is ultimately important nowadays. They should also use strategies that will help motivate their employees’ efficiency and productivity. There are different channels that they can utilize such as Skype, WhatsApp, Google Hangouts Chat, Zoom, etc.) to establish real-time, constant communications, and conduct regular goal setting with their employees.

Learn to have Adaptability – By always being ready for change and knowing that the list of priorities in your operations could change almost daily, one would easily know how to overcome sudden challenges with zero to minimal collateral damage. It is easier to plan and implement solutions if versatile and flexible systems are in place instead of having permanent ones which require even larger and harder adjustments.

Embrace an Agile Mindset – Large firms should apply this strategy not only for software development, but also for its other departments such as sales, operations, and marketing. Leaders should take the initiative of identifying what practices should continue and what should be immediately stopped. Anything that hinders the search for ways to know what is best for the customers should be eliminated immediately.

Have a balanced response in the different parts of your business – The new normal in the retail industry is not only about centralizing communications, attending to the employees’ needs, having work from home set up, and stabilizing the supply chain. It is also about effective business monitoring/forecasting. The marketing/sales alignment across all operations particularly customer support should be balanced and regularly reassessed to make sure everything is going according to plan.

Change your guiding principles – Retailers should focus on promoting diversity, modularity, evolvability, cautiousness, and collective understanding within their company and among their employees. Everyone should be inspired to have a modular way of problem solving and diverse thinking. This pandemic requires us all to go beyond our usual way of thinking and think of more creative and effective ways to help those around us. 

Put the next crisis in mind: As much as we want to be positive and hopeful, we know that it is best if we expect that there’s a bigger one coming after this global problem because that makes us appreciate the value of scenario planning. It urges retailers to come up with contingency plans that will effectively minimize risks. All efforts should be dispensed in identifying critical paths and preparing backup plans to minimize future disruptions and boost cross-functional team proficiencies.

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OUT OF SIGHT, OUT OF MIND: The Power of POP Displays to put products into the spotlight

It is believed that majority of consumers impulse buy and it is partly caused by well-designed display. But it is still a wonder how a POP display can make one item stand out among hundreds to thousands of products that are showcased on retail store shelves.

POP displays are there to put attention on products and brands that people do not initially intend to buy. But in order to do so, retailers must make the display so appealing that the product becomes worthy of considering and buying. This means before POP displays can bring your product front and center into your customers’ minds, it must first give them fast facts and visual cues that will make a purchase decision in favor of your product.

Making POP Displays doesn’t have to be so complicated. Even with basic materials, you can create a striking and effective display as long as it has an eye-catching and informative design. This is true for small to medium business that only needs a simple design.

As to why POP displays make products so captivating for customers who are waiting in the checkout area, it can be because it serves as a trigger to the impulsiveness that consumers are hiding within them all the time.

It is interesting that within the little time they spend waiting to complete their transaction, they still become desperate to have something to look at while waiting, eventually just within seconds they become bored. This combined with the thought that they will be leaving soon gives them the urge to see if there’s something more they can grab. It’s like there’s a huge “Now’s the time to check if there’s something else you can buy or forever rest your peace” sign ringing within their heads. That’s the time a good POP display comes into play. If it’s attractive enough, soon it will be seeing customers grabbing and putting random stuff into their shopping cart.

The usual products that usually sell when on a POP display are those that are low-priced and are a bit smaller in size. It makes sense because these are the kind of products that you can easily throw in your cart at the last second without any hesitations. POP display items would also sell better when they have special promotions that will entice shoppers to buy.

Retailers should also keep in mind that it is ideal to place displays as close to eye-level as possible so it will be easier for customers to notice them. Whether they will be enticed and keep staring or whether they will look away is up to the quality of design. POP displays are really important in the retail business as it motivates an increase on customer engagements and contribute to the store’s overall sales through additional purchases.

POP Displays are really simple to understand. They help make products that are once on the sidelines get noticed by putting them into the most obvious place where customers can’t help but notice them. It’s don’t always work on all customers and on all items but as it goes along, there are lessons that can be learned to improve its quality and approach.

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How to Sell while Implementing Health and Safety Protocols

Retailers are now subjected to following social distancing rules and wearing of face masks. Selling good is never the same with the COVID-19 pandemic. It surely affected both consumers and store employees.

Since people are required to stay apart, customers experience may not be as pleasant anymore. So, retailers must think of ways to make up for it. There are also certain challenges that they must address and deal with, for them to safely and smoothly operate once they reopen.

1. Uncooperative Customers – You may meet objections to wearing face masks since not everybody believes in them no matter how hard experts try to explain about their importance. In these instances, you may have to politely ask them to leave if you are implementing a strict “no face mask no entry” policy.
2. Employees who are uncomfortable of wearing masks – You have to discuss with your employees if there’s any of them who is not comfortable with the mask so you can think of other alternatives such as face shields. This is to ensure that they will consistently comply, and they won’t endanger the safety of other employees and customers.
3. Employees may not be able to Engager Customers Properly – With some distance between them and the customers and masks covering their dace, some employees may not be effective in dealing and interacting with customers. They may need some guidance and training as remedy to this.
4. Customers may feel disconnected –Before, engaging with kind and welcoming employees entices customers to come back in a store. But now, without much human interaction, they may feel like trying another store next time, or to just shop online since it is more convenient, and the feeling is just the same. So, you must think of ways on how you can make them feel welcomed.

Whether you like it or not, the only way forward is to implement these safety regulations and adjust your marketing strategies while enforcing them. Here are some engagement tips that you can implement to your employees along with your chosen technologies and systems.

1. Make Customers Feel that You are Happy to See Them – With a face mask, it will seem impossible for employees to show people their smiles no matter how genuine it is. But there are other ways, the eyes can do it for them, or a simple joyful greeting will do. It is up to you as long as it will make the customers feel warmly welcomed.

2. Talk Clearly – Some customers can be easily and extremely frustrated when they cannot hear anything from what’s being said to them. This leads them to be grumpy or instantly walk out the door. So you should tell your employees that they must make sure that customers CAN hear and understand them, because that’s what will make the customers much happier.

3. Clarify through questions to ensure understanding – Customers would greatly appreciate it if you tell your employees to regularly ask them questions to ensure they are not missing anything. This is not only to ensure customer satisfaction but also convenience.

4. Utilize the use of body language to connect – Give your employees permission to not be afraid of maximizing friendly gestures and eye contact when speaking with customers because this is what will give people relief from their anxieties and it will make them feel like living a normal life despite what’s going around.

These simple tips can be easily integrated on trainings or through communications. It is vital that your managers are out on the sales floor helping employees. It is also important that your employees are appreciate ed for doing a good job. This will motivate them and inspire them to do more. This way, when someone misses an opportunity to engage with a customer, you can easily implement corrective coaching to them since they will be more receptive.

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A Checklist to Success for Startup Brands

Isn’t amazing how a brand name can easily influence people’s mind? People tend to buy one among two
similar products on the basis of the more popular brand name even if the quality is just the same. This
clearly shows that the brand affects how people decide what and where to buy because along with it are
the impressions of the people which dictates how they perceive the business.
They say the key to establishing a successful brand is consistency. But the reality is much more
complicated than just that. Here we will discuss some steps to building a successful brand.
Know your target market and your competitors
Getting to know who your potential customers are and how well your competitors are doing is a part of
understanding the situation of the current market where you will be running your business. It would
help a lot in your planning and decision-making.
To do this, you can try searching your product or service category in the internet and check if you can
see something about your direct and indirect competitors. You can also look at customers conversations
and product recommendations through subreddits. This way you can relate to them more and
understand what they think and feel.
It is also important that you talk to people from your target market to know what brands they currently
buy from. The social media can also help a lot in determining what your audience thinks. Take note that being able to source out the strengths and weaknesses of your competition from these sources can help you find your new company’s edge.
Build Your Brand Personality
Being sure about the focus and tone of your brand is one the things you need in building your brand
personality. Those two thinks will help you develop a message that you will send to your target audience
through your tagline. Your tagline can be formulated through a positioning statement that stake your
claim in the market.
Thinking of things and concepts that you can relate to your brand is also a part of building your brand
personality. This will help you relate to your target market and aid in sending the message you want to
give off. You can base these on the individual qualities you think they have in common with your brand.
Pick a Unique brand name
There’s so much more to a brand than just the name. What gives it meaning in the market is the
personality, actions, and reputation of the business. But the company’s name is one of the first things
that must be thought about and decided on by small business owners because other elements of the
business such as the logo, domain, marketing, and trademark registration depend on it. Ideally, owners
want a unique brand name but keeping it broad also works as it is a sign that you acknowledge
opportunities of widening the scope of your business.

Come up with a slogan and logo
A creative slogan is useful as a tagline on social media bios, website header, business card, and
anywhere else where only a few words are allowed to make a big impact. It should be kept brief,
appealing, and impressive. Meanwhile, a company logo design is the face of your company and it could
be everywhere that your brand exists. It should also be unique, identifiable, and scalable to work at all
sizes.
As you grow…
This is where consistency should be practiced. After building brand personality, creating a logo or
slogan, and launching a brand, the brand should be maintained and everything should work
harmoniously, from the art direction and visuals you choose for your website, your marketing materials,
all the way to how your products are packaged and shipped.
Soon your brand will evolve and more customers will be familiar. Along the way you’ll learn more about
shaping your business and knowing who your customers are and how to communicate with them.

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How to Kickstart a Successful Online Store

Making good fortune with a brick-and-mortar business doesn’t give you an instant luck in the e-
commerce industry. It is a whole new different world where you need to know many brand-new things.
It does not only require taking immediate action but also making wise decisions at the right time.
Here we will discuss the different stages that a business must undergo along the way before it goes
smooth sailing. The goal of this article is to give you some tips on how to plan, operate, and grow your
ecommerce business into a profitable one.
Planning Stage
The first part in building an e-commerce business is to know what sells best to people. Finding the right
products is challenging especially know that almost everything is already being sold online. So, you have
to think differently and see how you can stand out from your future rivals. Once you have a product idea
and potential market in mind, you should go and see if your idea has a big chance to sell.

Finally, once you are sure that your product idea will stand, what you have to do next is to determine
where and how you’re going to obtain your products look for a channel and find a supplier because the
bottom line is, these people and their services will help ensure that orders will arrive at your customer’s
doorsteps.
Preparation of Business Plan
Before proceeding to writing your business plan, make sure you finish your competitive research first
because it plays a big part in setting up a competitive business. It is valuable for you to check on your
competitors and see the flaws on how they approach the market. Looking into reviews might also help
as it can help you use their weakness to your advantage. Your business plan will then become your guide
in knowing your priorities and making strategies to effectively reach new customers.
Setting Up and Launching Your Online Store
To start setting up your business, you have to decide what brand name and logo you will use. You also
have to choose an appropriate and available domain name. Just like in a brick-and-mortar business, your
brand name and logo should be unique so your customers can easily distinguish you from other
businesses and it should also be easy to remember. These will represent your business so you have to
think it over thoroughly.
Your brand name and logo will be the face of your brand and it will be put on your products, packaging
and they will also be used as thumbnail if you have an app or if you plan to use posters and other online
publicity materials.
Existing online also requires at least a basic understanding of search engine optimization (SEO). This
helps you to properly structure your site and pages for Google and other search engines so it will be
easier for your customers to find your store. In doing this, you have to find and make use of the right
keywords. But that doesn’t have to be so hard especially because there is many available software that
can help you.

After having a clear understanding of search engines, you can now start building your store. Make use of
enticing product pages and captivating product descriptions combined with beautifully shot product
images, plus an ecommerce color palette of your choosing. These and more will help you be in your way.
From here, you can go straight to dealing with shipping and fulfillment where you have to make sure
everything is 100% okay. These elements are crucial because the quality of services that you will
outsource will have a great impact on how customers will perceive your brand.
Launching is ideal whenever you are confident that you have already prepared enough. Just take note
that this is only the beginning because this is where the bloody process of marketing your products
starts. Check on your products’ viability and see how you can drive more traffic to your online store on
your after your first months. Being focused will allow you to learn a lot more along the way.

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Point of Purchase Marketing and How It Attracts Impulse Buyers

Point of sale or point of purchase marketing is an appeal to the impulsive buyer within people. It is
about strategically placing low-priced products near a store’s point of sale such as its cash registers or
any other location where transactions are completed. It is the final plea of retailers to their customers
for any additional purchases. These should be low-investment products as it is only a matter of seconds
for the shoppers to decide if they want to grab the item or not.
The POINT of POP marketing
Point of purchase displays capitalize on the fact that customers are more likely to make additional purchases when they are already decided to buy something less expensive. It takes advantage on the time that the customers are on the line to persuade by showcasing these low-cost items near the store’s checkout or point of sale.
A point of sale display is a great add up to the overall sales as it increases the total number of items
purchased by a customer. POS displays can also be used by retailers to promote other items such as
accessories which customers do not originally intend to buy.
It is also a space-utilization strategy that seeks to put attention to products that are not that popular to
customers. Products that must be sold as soon as possible or with promos such as buy 1 take 1 can also
be put best in these places.
Main Considerations for POP displays
To know what would work as an effective POP display, retailers must look into a product’s features,
location and design.
The features and the location where a POP display will be placed are connected and it should be though
of carefully. It would be best if POP displays are put beside its complementary products as it gives
customers an idea that it is needed so they will be more urged to buy it.
The design of the point of purchase display should also blend it to the overall store appearance. It is
ideal to base the concept of its design to something that appeals to the customer’s five senses.
It has to be very convincing given the fact that each customer only has an inch of a time to make the
decision and they don’t even know it (because they don’t intend to look at your POP displays at the first
place). That’s why retails should think carefully on how to make it an outstanding part of their overall
visual merchandising.
With an effective POP marketing strategy, the issues with a store’s limited space would be easier to
resolve because now the retailers will know how to utilize shelves and corners more. It is also a strong
shot at driving in more sales while there’s no need to annoy customers and shove products to their
faces. After all, sales people shouldn’t be seen as living pop up ads because in this case, any offer is just
going to be automatically turned down.

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How Businesses Can Defy Physical Distancing and Make Communities Socially Close

In the midst of the COVID-19 outbreak where countless people around the world fell ill or died,
businesses barely survive. In fact, many have already closed or declared bankruptcy. But for some, the
fight is not yet over. Many businesses and individuals are still up for the challenge and are eager to make
it through this crisis.
While this tragic event is pushing others to shut down, some were being pushed out of their comfort
zones into new horizons. Their adjustments include migrating from offline to online in order for their
logistics to adapt and meet new sets of limitations.
Strengthening the use of a direct ‘seller-to-buyer’ business approach where distributors, resellers, and
retailers are no longer needed is needed now more than ever. Cutting the process on which a product
has to go through before it arrives to the hands of the customer, is not only convenient compared to just doing the common practice, applying business strategies that will encourage the community to take part on something is seen as more vital during these times.

Regardless whether it’s through a design making challenge or through utilization of social media to share stories, experiences, and even tips related to the business or their product, what’s important is that it serves the purpose of inspiring solidarity and promoting resilience. Businesses can also help relieve stress and ease worries of the people through appealing visuals, approachable storytelling, editorialized content, and many more.
Even during these rough times, sharing of knowledge and raising awareness is still as good and effective.
It is a plus for businesses to spare some time promoting not only history, heritage, and culture but also
personalities and even other business that are related to the industry they are working in. They can also
team up with other brand to offer complementary goods and services.
Businesses that bring hope and exists for a cause are always appreciated as well. Offering income,
health care, education, and a sense of community through their products and services. Also, among the
activities or campaigns that businesses can do are fundraisers and employing of people in need. Social
media can also be used to bring people together by allowing them to send in messages about their
experiences with physical distancing and encouraging them to be positive.
Building networks that will keep the conversations going is also what’s needed to give people hope
during this time. Remember that hope is what will give them hope to go on with their daily lives. This
means it is more likely for businesses to keep having customers if people are kept motivated and not
give up despite what’s going around the globe.
Seems like at this point in time, going online is the best path to take if you want to pursue your business.
But as we go farther away from one another due to physical distancing, we should still encourage
people to unite and become closer in mind and spirit.

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Income Generating Hobbies that You Should Start to Monetize

‘Anything worth doing is worth overdoing’ – Mick Jagger

When we look for a job or a source of income, many of us are torn between choosing what we love to do or what pays well. So those who are in dire need, are usually no choice but to set aside hobbies and interests for high paying professions. But, our hobbies which we commonly do for fun and pleasure can also offer significant financial gains. This is proven by an increasing number of people who found a steady source of income in doing these things they love to do.

Here’s a list of common profitable hobbies that you can do if you have what it takes.

1. Gaming

Gaming and Streaming are so hot right now especially because everyone spends most of their time at home. Plus several huge games were recently released while more are coming so it adds up to the excitement.

There’s no denying that gaming is now one of the hobbies where you can make the most earnings. Just like on YouTube, you can monetize gaming either by sharing ad revenue or by getting one-time and subscription donations from a large community of viewers. This means the amount you earn through live streaming will vary greatly, but that it’s relatively easy to start at least making residual income.

For you to make some significant income, you have to develop exemplary gaming skills and popularity. It is important that you not only enjoy the game you are playing but it would also be better if you choose to stream a game you love, are good at it, and bring out your personality.

Due to the fast growth of the gaming industry, there are a lot of opportunities especially for avid gamers who understand the needs of the market. They can easily develop products and services that will sell to their fellow gamers or to developers and other clients that are involved in the industry.

2. Photography

If you are good at taking photographs, regardless of whether using your phone or a digital camera, you would have several ways to earn good money from it. Combine it with some basic editing skills and boom! You’ll be a one-man team who will be ready for projects that could bring you some good fortune.

Aside from shooting at events and gigs as a freelance photographer, you can also make money from your shots by selling them as stock photos or prints. You can also use your skills to grow a massive Instagram following that you can monetize especially now that professional photography accounts are second-most lucrative on Instagram in terms of how much brands are willing to pay for a sponsored post. You don’t even need hundreds of thousands of followers to be qualified.

3. Writing

Writing is a good hobby but publishing your works could help you build a career and establish yourself as an expert on certain topics. It could also bring in good income later. If you have a platform like a site where your crafts and ideas are visible, clients who would want to rent our your skills can easily see if you interest them and if you have a potential of working with them.  As a freelancer you can also reach out to blogs or talk with clients through referrals for paid gigs.  Another option for you is to create your own blog-based business by picking a niche and building an audience over time. This is good if you know how to write blog posts well.

Most of the time, our biggest break in business can be found on the things we tend do for fun and for free. We just have to know what we are good at or passionate about. Once you know what you want to do and how to do it excellently, you must then determine if it has a potential to be something more.

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Basic things you have to know about Fulfillment Services

Here’s a question for new e-commerce business owners, “do you have adequate knowledge and full understanding as to what follows after an order is placed?”

For those whose answer is a clear NO or unsure what to say, then you are in the right place. One way or another, you have to bring the product to your customers, either you chose to let a drop shipper fulfill your orders for you, you do them yourself or you find a logistics company that will be in-charge of your warehousing and fulfillment.

Packing and shipping your own orders is the more flexible and cheap choice that’s why it is preferred by businesses that are just starting out, and businesses that have unique ecommerce packaging needs. Also, it is often better for business to handle things in-house especially if they are struggling with cash flow. So, they can compensate their lack of money with their time.

Meanwhile, for growing businesses that are financially ready to outsource, exploring third-party warehousing and fulfillment is a considerable option. Here we’ll discuss further more about it.

What are fulfillment services?

E-commerce fulfillment service is about hiring a third-party warehouse to process orders for you. This means preparing and shipping them from its fulfillment center. It’s perfect for businesses that are not up doing their own shipping or just don’t have enough warehousing capabilities and are unable to ship orders themselves anymore.

There are many large third-party fulfillment providers out there. But if you’re looking to optimize your fulfillment strategy, it is preferable to work with a provider that gives you flexibility with a central view of your data and smart inventory allocation across multiple warehouses.

Benefits of hiring third-party logistics

Aside from saving you from doing the work yourself, here are some things that can be contributed by outsourced warehousing and fulfillment service providers to the growth of your business.

1. Provides you experts and professionals

Aside from warehouse space, service providers also get experts who will be responsible for running the fulfillment center. Hiring your own staff is mandatory when fulfilling and shipping your own orders and it takes time to get a team in line. So, if you don’t have plenty of time and money to spare, you can just outsource the work to a logistics company and let them do the work of finding and hiring good people.

Each third-party logistics (3PL) has a whole team of experts and support staff who knows the right way to go. They are assigned with all of the labor needed for receiving, inventory management, and order processing and shipping. It makes progress much quicker compared to what you can achieve on your own.

2. Removes long-term leases to your list of needs

Thanks to the flexible pricing of many logistic companies and it will be easier for you to adjust in case you are growing or going through some dormant periods. This means their services and easily be modified to adapt to your needs based on your financial capabilities. You also don’t need to commit to renting your own warehouse space.

3. Give you more time to optimize

Managing and optimizing across the company should be your focus when doing business. That’s why it’s lot better if you just let someone else to take care of the logistics of order fulfillment while you see to it that more important aspects are being dealt with.

Take not that third-party warehousing and fulfillment isn’t for everyone, but if you find yourself in one of these situations, seeking help from the logistics company of your choice might be the best call.

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Bringing the In-Store Shopping Experience Online As Part Of The New Normal

Amidst the ongoing global pandemic that has taken the us all into a storm, it’s safe to say that the world
will never be the same. All of us at some point will need to adjust due in order to survive this unseen
virus just waiting for its next victim. Some things will remain but a lot will change in the way we live
every day, the way we interact with other people when going out, and the way we buy for our needs
and wants.
Online shopping is an obvious choice if we are going to talk about safety. Due to physical distancing
regulations, going to brick-and-mortar shops is only advisable if you are buying necessities. But how
about the other things that shoppers want to take home? Should they just wait till all of this is over?
Some probably can. But not everyone can stop everything they do. So, for those who want to go back to
shopping new outfits, jewelries and other stuff, online stores are there to accommodate them.
But what can these online shops do to attract more buyers? Is it promos and discounts? Sure, maybe it
can catch the interest of a couple but this strategy is now too common and everyone’s doing it already.
So, not everyone will buy it. Instead, in order to make a significant result, brands must give their
audience personalized shopping experiences that will make it as though the customer is visiting the
store in person. This can mean having an easier time finding what they are looking for and being offered
things that match their interests.
To owners, this doesn’t mean you have to know each customer by face but more on learning about their
information and using it to develop your approach, your products, and your marketing campaigns to
make it distinct to each of them. This is why many store owners are now using quizzes, concierge
services, and other personalized experiences to improve loyalty, boost customer happiness, and reduce
returns.
Let’s take clothing businesses as example. One of the major problems of customers that leads to returns
is not being able to get their correct size or desired color. So, it is important for brands to help their
customers get the right fit in order to minimize returns. They can do this through quizzes composed of
questions about body shape and needs that will make their size recommendations more accurate for
their customers. But the use of size quizzes and custom size charts is not only for apparel brands but
also for other businesses offering products made in multiple sizes or fits.
Other businesses also brought personalized product recommendations into a whole new level using
digital reviews and quiz-type tools that collect customer opinion and information to create personalized
offers and custom-made product opportunities.
Aside from all these, we can also learn from those that took the initiative to launch online educational
campaigns to inform their customers more about their products and how it can be suitable to them
personally. They do not only inspire loyalty by showing much they care about their shoppers and how
the products will affect them but they also want to give them a deeper understanding about what they
are buying.
Personalizing customer experience is not only about a business that knows their customers and their
needs but a brand that sees each customers as unique and assures that everyone will find an efficient
use for their products amidst their differences.

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What to Make Great POP Displays and What’s in it for You

Many people might think that products placed near the register (or any other point of purchase) are just
there with no particular reason. What’s not known to them is that it is actually a strategy to convince
them to buy additional items in the last minute.
Now you might be wondering, what products would pass as effective POS Displays? “Low-investment,
less expensive items” is the usual answer. But there’s more to POS Displays than just that. The space can
be utilized and retailers should carefully think about what product to promote here because this is their
last chance to cross-sell. Here are some strategies on how to have an effective POS display along with its
benefits.
POP Display as a Kick-Off for New Items
New products or items with an unfamiliar brand are seldom appealing to consumers, but this doesn’t
mean you can’t do anything about it. In fact, you can show them off on a point of purchase display to
boost their presence and make buyers notice them quicker and easier. It is a good way to create balance
between these and those with other brands on the shelves so they can also be given a chance to
perform well.
POP as a Combo Bundles Promotion
Retailers can take advantage of products that complements one another through POP display as it can
instantly promote multi-packed products or those that are separated on display. It would be easier to
convince people who are buying a product to take the other knowing that they work well when used
hand-in-hand. It is also an effective way to increase the chance of securing additional sales by making
sure buyers won’t forget about the complementary product.
Since we already talked about combo bundles it is also worth to mention seasonal promotions which are
also a great example for maximizing the effectiveness of stand-alone displays. A retail stand-alone
display showing different items intended for a certain season can greatly impact consumer purchase
decisions, brand recognition and impulse buys.
Benefits of A POP Display
Impulse Buys – As customers go around the store with their grocery lists, stand-alone displays are there
to encourage impulse purchases. Not because they already though of what to buy doesn’t mean they
can’t make instant decisions anymore. As long as the targeted retail display is well-designed, showcased
products can still capture purchases from people who are on their way to checkout.
Enhanced Visibility – Putting products on a point-of-purchase display will not only make them easier for
repeat buyers to find them but it also boosts sales and performance by making items stand out from
other similar products that they are up against on the store shelf.
Emphasis on Products – A stand-alone POP display means there’s more space to mention the benefits of
a product, explain its uses, and highlight the need to buy it. The sides of the display can be utilized and
additional signage can be put up to emphasize the product and its brand while raising the chances of
purchases.

Great help in easing the burden of in-store staff – Installing POP Displays is ideal for busy retail stores
with limited number of staff as it can stand on its own and put interest on a product without the need
for a sales person to talk customers into buying it. As long as they are informative and easy to use, rest
assured that they will work even on their own.

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Effective Inventory Management towards a Company’s Growth

Inventory management is being in control of a company’s stocked goods. Most of the resources of a business including cash are tied to it. So, effective inventory management is crucial for the company’s growth. In short, it can make or break your business.

Inventory management is also about monitoring the weight, dimensions, amounts, and location of the goods. The goal of inventory management is to minimize the cost of holding inventory by helping business owners know when it’s time to replenish products or buy more materials to manufacture them.

Why is it important?

Effective inventory management is vital in ensuring that a business has enough stock on hand to meet the demands of their customers. If it is not handled properly, it can lead to loss of money on potential sales that can’t be filled or wasted money due to overstocking.

1. To help avoid unnecessary spoilage

With effective inventory management, perishable goods like food or products that has an expiry date such as makeup will be handled more efficiently and significant loss can be avoided.

2. To prevent deadstock

There are lots of reasons why products cannot be sold anymore aside from them being expired. It can be because it has gone out of season, out of style, or otherwise become irrelevant. But with proper handling of inventory, you can come up with a strategy that will make you prepared for these kinds of situations.

3. To keep storage costs low

Storage costs soar high once you put too much product at once or end up with items that are difficult to sell. If you have effective inventory management, you’ll be easily aware of this. It means you can plan to avoid it and can keep your storage costs at a minimum.

How can you start being wise with your inventory management?

If you think an effective inventory management is what you need for your business, the first thing you have to do is to audit your current situation based on where your business is currently and where you want it to be. Think about the inventory challenges that might come along the way.

You also have to assess your technological capabilities and its efficicency to cater the amount of inventory you have. You can even consider an inventory tracking system if you don’t have one. But keep in mind that you only need it after having a certain level of inventory otherwise there might be other tools that might be better for your business.

Warehouse Management System

A warehouse management system (WMS) allows you to monitor what’s going on across multiple warehouses, regardless of whey they are. It also gives you the control to your inventory and warehouse operations, like receiving, supply chain management, fulfillment, distribution, and many more.

What do you need to improve inventory management?

The answer is simple. What you need is a system that centralizes all your data from all channels in real-time, so your decision making can be faster. In case there is an urgent scenario that needs to be acted on immediately. There are many available Inventory Management Systems online that can use with functions such as monitoring stock, generation of purchase orders, forecast demand, and many more.

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The Impact of On-The-Box Branding and Advertising on Customer Experience

It has been a common practice for many e-commerce businesses to sell ad space inside their shipping boxes. But only a few of them see printing outside the boxes as another opportunity. But major brands that uses this strategy prove that it can do something not only for their customers but for other retailers and organizations. Here we will discuss the wonders of branding shipping boxes and how it can be used by businesses not only to market but also to promote, send a message and most importantly, to create an experience like no other:

SENDING A MESSAGE

It is wise for a business to employ an omnichannel strategy, as it helps a lot in spreading a message to your target market quickly. But aside from your website, social media and billboard, messaging can also be done through shipping boxes. It is a good way to reach out to customers as it gives a more personal feeling. So somehow it creates a stronger bond. Plus, if you really want the message to be received by the customers, this could be a good idea because through the box, your particular customer can have a physical interaction with the message you sent them. So instead of using the box as a way to protect the product, then why not use it as a travelling advertising device which can help you communicate not only to the exact person you sent the box to, but also to others who will see it.

PROMOTING A THIRD-PARTY COMPANY

Cross promotion is also another exciting use of branding your boxes. It opens up an opportunity for you to tie up partnerships with other businesses that are offering products and services related to yours. Through your boxes you can boost your sales by promoting one another and your products. It will result to a shared integrity which is beneficial if both of you are good businesses and you wanted customers to trust you more. Even though they only know one of the brands, as long as their trust to that brand is solid, there is an increased chance that they will trust and become interested to the other company more easily.

SHARING OF FUN AND HELPFUL CONTENT

Using of on-box branding is not only for advertising and marketing. It is also be used along with customer data to share information that are relevant, creative and educational.

Depending on the nature of your business and products, you can either send recipes, tips, directions or facts that will add excitement or draw curiosity to your products.

It can also be used to promote charities or show support for campaign, whereas, can use this opportunity to donate unused space on your boxes to non-profit organization that you support.

Being able to appropriately and effectively use this strategy can lead you to stand out from your competitors, especially brands that ship their products inside plain boxes.

MAKING UNBOXING MORE EXCITING AND INTERESTING

You can go on this even further by supporting the trend of unboxing video popularized by influencers and vloggers. Give them a packaging that sparks curiosity and draws attention instead of sticking to the plain brown box which is now too boring. With visually appealing boxes and impressive, high quality products, there will be a momentum of hyped interest and memorable experience that will make you unforgettable to your customers. You can even use technology to mimic other materials and make your packaging a bit more extraordinary.

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Using Digital signage to Keep People Connected and Informed in the time of a Pandemic

In these trying times, where COVID-19 is spreading across different countries around the world and people are locked inside their homes by online digital signage and software can do a lot more than just promote brands and products. As investors and consumers panic over the disastrous and deadly effects of this virus, it is a good way for it to be used to enlighten and bring people closer together (though not literally). Read below for a further explanation on the importance of digital signages nowadays:

To Connect

Included on the list of establishments that were forced to shut down are schools. Though this is understandable as it is a way to prevent the further spread of the contagious disease caused by the coronavirus, we still can’t help but be sad because this means regular classes will be indefinitely stopped and the learning of students will be compromised. But with the help of educational digital signage companies, school won’t have to completely stop their operations. Instead, teachers and students can stay on their respective homes and schedule learning sessions and discussions through video calls and other platforms. There are lots of free software that can be optimized by schools for the benefit of their students including those who are struggling to have access to distance learning. This proves that we may have been caught off-guard by this pandemic, but this doesn’t mean we cannot cope with it before eventually overcoming it.

Use of digital tools has also become essential for the business sector especially due to the worldwide travel restrictions which prevents physical meetings from happening. So, it is important that companies are thinking of ways such as the use of technology to do business and continue communicating with their clients, partners, as well as their other stakeholders.

To Inform

Being knowledgeable about what’s happening not only in your own country but also around the world is important now more than ever. That’s why digital signage is playing a vital role in helping provide public safety information that will make people aware on how to protect themselves from the infection.

Digital signage when used to share important health and safety information will help save lives of employees and customers. It can be as simple as installing displays that sends out reminders about washing of hands or using hand sanitizer when inside a building. This way, employees will never forget practicing that important safety measure even while doing their jobs as usual.

On an outdoor setup, displays can be placed to provide health tips such as the recommended duration of hand-washing and other time-sensitive information about business closings.

A combination of providing good information and creating a positive and bonding customer experience should be the main priority for the use of digital signage during times of crisis. Not only will they help people to cope but also to encourage and prepare them to move forward once everything is over.

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Retail In-Store Experience in the Digital Age

Retailers all over different business sectors are in a race to integrate strategies that will give fresh in-store experiences. This includes physical screens installed within stores not only for branding and communication, but also to incite excitement, bring inspiration, and motivate engagement.

The rising popularity of screen-based content and advertisements is making it difficult for business owners to think of ways to make it impactful. The challenge for them is not just to promote awareness but to satisfy shoppers and keep them interested. Here are some tips on how to do that:

Capture the Heart by Telling a Story

Good visuals are not enough to make a screen content engaging. But what makes it outstanding is the story that it is telling to its audience. It should be something that inspires and brings the people closer to the brand. It can come through different forms such as short films, documentary, murals, or a creative map. Take note what makes it effective is how memorable it is for the customers.

Don’t Just Aim to Sell, Focus on Building Loyalty

Using for advertising and promoting is still an effective plan but a bigger opportunity is being missed out because the businesses who does this fail to provide what shoppers truly want, and that is the experience which online shopping cannot provide. Simply put, screens inside the store should be used not to sell, but to create a physical experience like no other. This can be applied not only through interactive display but also on social media as long as it effectively increases engagement.

Make it Relatable by adding a Taste of Local History

Consumes are longing for new experiences that will connect them better not only with a brand, but also to their friends and the community. So, one way to bring out the best out of your screen display is to find creative and educational ways to combine it with the local history and culture of the community that you are targeting. Local information that are up-to-date and useful can produce more engagements from in-store screen displays.

Paint a Bigger Picture

Interacting with experiential content such as in-store screen displays are the fastest way people can engage with your brand. So, you must optimize it and make sure it will tell stories that will persuade customers not only to purchase on that particular moment, but to come again another day.

The faster consumers get to know your brand better, the better the results. So, business owners must learn to limit the time customers are spending on it. Instead, they have to make every second meaningful and make sure their shoppers are having a deeper insight on their brand story. They can also include the role of workers, communities, and other partners. They should remember that what’s important is not the duration of the customer’s exposure with the story but the depth and the amount of it.

As long as it remains interesting and engaging, it will surely click with them. Making business more artistic and instagrammable is the key. So, it is those who are not afraid to take chances and push boundaries for the sake of keeping it fresh, who will succeed.

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Using the Power of Light in Providing an Unmatchable Customer Experience

Who would have thought that lighting will have a huge impact in the retail world as a marketing strategy used on physical stores? People becomes so hooked when brick-and-mortar shops use specialized techniques and technologies that online retailers find it so difficult to think of a better strategy.

Truly, it has become one of the reasons why people still choose to personally visit stores than shop online where they can find convenience because they don’t have to leave their homes. But maybe the experience of being able to feel and see the actual product before buying it is still irreplaceable.

That’s why shoppers treat the physical store set up (adequate lighting to see products, merchandise displays, signs, promotions and checkout lanes) as something they should never miss.

How it All Starts

Impulse buying is common to many people. But most consumers still need a certain level of persuasion to be interested into looking at something. This can be as simple as seeing an advertisement. Light also takes part on this ‘persuasion phase’. This is through outdoor window displays which aims to attract foot traffic inside the store where the more strategic displays await.

Again, many people including some retailers are often unaware of the real purpose of lighting and display. But in reality, they are positioned on a certain way to influence the thinking and behavior of customers. So, if you notice that some shelves have brighter or multi-colored lights that are different from the other displays, that’s because it was meant to be put that way. The usual reason is that these items that were given additional emphasis are either high-end products or new product lines that are being promoted. Amazingly, if you will observe, you can see that many people are being drawn to it. This strategy is based on the assumption that people are drawn to shiny things. There are also other tactics that can be used such as installing contrasting light to attract wandering customers and vertical or layered lighting for giving greater depth and urging shoppers to browse more.

How Light Affects a Customer’s Mood and Behavior

Another thing that makes light so effective on retail businesses is how it consciously and subconsciously affect how customers feel about the brand, a certain product, or their experience in general. This is composed of many factors such as color temperature, brightness, and setup that creates an impact on the mood of a consumer.

For instance, cool white light makes stores appear spacious, while warmer color temperatures create a friendlier impression because it gives consumers a feeling of smallness and familiarity. This prove that the warmth or coolness of a light’s temperature plays a relevant role.

Brightness on the other hand, affects shopping pace whereas brighter lights make people positive and energized so they tend to shop faster, while dimmer light makes people feel relaxed and calm which slows them down.

There are plenty of research saying customer retention is more likely for well-designed, up-to-date store compared to those with dull interiors. This is why it is considered wise for businesses to invest in the right lighting for their stores.

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Customer Data to Offer Right Incentives and Boost Your Business

Knowledge is power. All retailers are aware that this is very applicable in the business they are in. What better way to gain knowledge than to analyze data and take based on the lessons derived from it?

Customer differ in terms of their buying behavior. This is due to a lot of factors that influences them before and after they go in and out of your store. But based on their purchase history and personal data, you can extract valuable data that will let you know how you can incentivize your customers so they will continue to patronize you.

Understanding your customers and knowing what motivates them to be loyal to you will give you an edge towards your competitors and it can level up your service so you can boost the amount of revenue you are getting from it.  Follow our discussion below about tips on how to put your valuable customer data in good use.

Identify Your Store’s Busiest Hours

Only through data can you know what your store’s peak hours are. This is important as it is the period of time where it will be crawling with customers who will stand on long waiting lines. That seems like a good thing but it’s not, because it can delay your revenue or even lead to its loss if people are left waiting for too long without you doing anything about it. What you can do is to decongest your store during peak hours by incentivizing your customers to persuade them to shop at a different time.

Using your knowledge about your customers’ behavior can help you to improvise strategies such as offering discount and giving away rewards so it can change and you will be allowed to pave the way for a smooth flow of cash to your business. This would also give you the opportunity to create a better workflow for your staff and improve your services during your store’s busiest period.

Analyze the Performance of Retail Chain Stores

Part of owning a Retail Chain Business is knowing that different stores will have different performances. Some of them will be successful and patronized while some will be stagnant and ignored. But, gathering accurate data is not simple, especially without a fully integrated system that will reconcile data of different stores because only through it can you clearly and instantly see the performance of each store and analyze its weaknesses for you to know how to address them. Some good ideas include a discount offer at a particular time or an event for customers who have not been at that underperforming store for a certain period of time.

If you have a retail franchise business, then knowing what stores are included on the list of poor performers is even more crucial as it can help address bigger issues related to customer service or stock levels that are not easy to identify.

Know Your Customers’ Feedback on different Products

It is also essential to know what customers want and what they think about your products. This will also help you monitor and control the stock levels of your most bought products as long as you have strong data tools. But not just that, because it also helps you gain knowledge about market trends that you can maximize for extra profit for a certain period of time. Plus, it gives you a head start of the time when these trends need to be replaced after they become outdated.

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Turning Website Visits into Actual Profit Through Facebook Retargeting

Just like in the physical world, window shopping happens online; people who browse your website are not automatically buyers. Some of them may just be looking around if something will get their interest. But you don’t always have to just sit and wait for their decision because there’s something you can do about it.

With a strong retargeting strategy, your ads can effectively reach these people, sending them right message that can influence their decision-making process. You can base this strategy by looking into the user history of your customers and visitors. Being able to create a retargeting funnel will help you have a smooth interaction with your customer that will eventually lead to an ideal outcome, which is turning potential sales into actual purchases.

It would also help a lot if you think of a creative way to address their questions and concerns, social proof to solidify their trust on your brand, and a way for them to remember the products that they just viewed.

Aside from serving as a form of advertising to people who have already browsed through your website, retargeting can also be used with Facebook for you to reach potential customers who showed initial interest in your business or product. This can be monitored through their online activity such as liking one of your posts or going to your website and adding some items to their cart.

A huge amount of additional sales can be missed out without retargeting ads, imagine how beneficial it is for your part if your website traffic is actually being converted to your revenue.

But before you can take advantage of Facebook retargeting, you must first integrate Facebook pixel to your website. To understand further, here are the other benefits of Facebook retargeting:

It is a Promising advertising strategy that leads to immediate ROI

Since retargeting is about focusing on people who have already shown interest in your brand and products, it is more likely that you entice them to buy. Unlike using Facebook ads to those who are not familiar of your business which can only result to brand awareness and website traffic, but not necessarily sales.

Audience that are not that interested to your products are less likely to contribute to your sales and in order to change this, you will have to spend more time and resources first to build their trust on you.

It Allows You to Tap into Specific User Behaviors

Facebook Retargeting gives you the power to share specific ads showing relevant products that are interesting to potential customers. This is perfect if your business offers more than a single product.

For you to know which products a particular website visitor is interested into, you must know which pages and products he/she viewed. Then you can use retargeting ads that only shows the particular products that are in line to the customer’s interests.

It helps influence more people to complete a purchase

Studies show that only a small percentage of website visitors naturally ends up making a purchase on their first visit. But because you are doing an intervention through retargeting, there is an increasing chance of bringing more people back to your website to finish their transaction.

This works effectively for people who abandoned their cart of didn’t complete checkout. Retargeting ads will then do a final push to gain sales and drive your conversion rates up.

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Feeling Lonely? 5 Ways to Cure the Entrepreneurship Blues

When we think about entrepreneurs, it is easy to generalize them as ‘people’ persons; individuals who possess exemplary communication skills and rapport. After all, that’s what business sounds like right?

But contrary to this common knowledge— or assumption rather, experts say that doing business is for introverts too! That’s right. In the wide world of entrepreneurship, there are people who loves isolation as much as they love doing business.

But this doesn’t mean that it is possible for every one to thrive while living a solo lifestyle because there’s loneliness and depression too. Many people might still be unaware of it but these mental issues are real and even introverts can experience them.

These problems that cause loneliness have dire effects that affects lives even to a deadly extent especially when matched with the stress which is part of doing business. This is why business owners should also have mental health management plans too especially now that most of them are working from home due to the lockdown caused by the ongoing pandemic. It might be a radical change to have a different setting or routine so people need to cope.

In line with this, here are some work-from-home tips and tricks that will help entrepreneurs remain productive and not become lonely:

Take a Breather

Working from home is just a different setup but the amount of might still be the same. Meaning pressure remains. That’s why it is important that whenever you feel everything’s too much to handle and there’s no progress anymore, take short breaks to breath and empty your mind if this is what will help you focus. Don’t torture your mind and force it to think.

Another way to do this is by going outside momentarily (practice social distancing amid the ongoing pandemic) or by doing some tasks such as answering emails or talking to clients while at your garden or in a nearby café.

Regularly Check on Yourself

As an entrepreneur, your mind is your greatest asset. But it is your body that turns ideas into reality as it does most of the work. That’s why it is important that even when you are busy, check on your health and consider having a fit body. Perhaps you can use apps to track and monitor your physical activities or your diet. You can also join communities or group classes where you can learn a lot about how to maintain a healthy lifestyle. Eating healthy food is also a must. Make some plans, ask some people, or do research about what your body needs based on your current lifestyle and condition.

Maintain Social Connections

No matter where you are in the world, technology always has its way to connect you with people. Especially because you are a business owner, one way or another you still have to connect with others. Distance is not really an excuse to cut off ties with important individuals and stake holders.

You can also do face-time or video call meetings if you really can’t meet personally. You can also send emails to one another to transact or discuss about ideas and proposals.

Joining online groups or attending seminars and forums would also help a lot not only for you to gain knowledge but also to widen your network. Being part of a community or going on several events increase your chances of meeting prominent personalities or key persons that will be essential to your business.

If you are running an online business, perhaps you can find a way to bring your shop into the real world. It can be through bazaars or conventions where you can meet not only customers but also other retailers that you can change ideas with.

You bring life to your business. It won’t succeed if you are not well with your personal life. So, mind your well-being and don’t just focus on what’s going on with your business to the point that you don’t care about what’s happening to you anymore.

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Understanding What Makes the Cost of a Rent a Retail Space

Part of making a business plan is understanding all formulas and equation involved in doing your business. Aside from the resources, product manufacturing, and sales. One important element in your business is the rent that you will be paying for your retail space.

It is important not only because it is part of the capital that you will be investing in your business but also because it is part of the requirements when applying for a loan from the bank.

Regardless of these reasons, it is important for you as the retailer to fully know and understand what makes up the rent that you will be paying. It also gives you an idea if it’s wise to get that retail space or if there’s a better option that you can choose.

Here we will analyze and dissect everything that you have to know about retail space rents so you will be enlightened and capable of having the right decision when doing business.

The first tip that you have to consider is doing a comparison on the available properties around the area where you want your store to be opened. Usually, there is an average price per square foot on most areas. Now, you can try to compute its monthly rent by multiplying the total square feet to the price per square feet then divide it to 12 (months).

Suppose that you were able to get a price per square foot, it is safer to give an allowance by increasing it a bit on your business plan in case of last-minute adjustments.

But take note that aside from the raw rental price, there may be other lease terms that you have to settle with the landlord. You may be met with a couple of demands that may add up to the monthly rent though you can bargain for it so you can achieve an agreement with a favorable deal.

Along the additional costs that may be passed to you by your landlord as part of the lease agreement is the maintenance costs for common areas and amenities such as the parking lot, lighting, etc. The landlords may also pass along the cost of the property taxes for the space as well as its insurance premium. This will protect them from damage to the space while you are leasing it. The cost of this premium can be passed along to the lease.

It is common to have all of these costs passed on to you. It is called a “triple net” lease. So, you have to make sure that you check everything about this condition as may add a significant amount to your base rent. Be fully aware and only sign if it’s manageable for you because otherwise, it will just cause you some trouble.

It is also important to calculate the estimate possible rent increases along with the other fees and utilities. Rate increase should be clear to you along with its frequency. It should also be well-documented to prove that both parties fully understand and agree.

You can also consider other alternatives to this such as finding a temporary space or startup incubator areas which are far cheaper when opening your business. It could serve as a testing ground if you will be able to infiltrate the market within that area so there won’t be huge losses when your business flops.

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How to Change Consumers Perspective on Marketing Surveys

The term marketing research might sound important to business owners and managers but it can be a boring jargon for customers. For them, it is just about a barrage of unnecessary emails and notifications that they don’t want to open because they know that when they do, they will just be confronted by technical questions.

This is what businesses must change because market research is mandatory. So, they can’t do anything to set it aside without compromising their business. But, they can make people change their outlook and instead be willing to lend their time on it. Here are two major tips on how to do it:

Change your ways

Maybe, it’s not the emailed survey that’s wrong at all. Maybe it’s the fact that it’s ‘emailed’ which is what people find boring and intimidating because we all know that email is usually more formal and business-like. So they automatically feel that it’s boring when they receive it outside of work. But, what if it’s other messaging platforms? Isn’t it more efficient and lighter to take? Correct. As we know it, messaging and social media apps are used to communicate with family and friend. This is also where they usually express their thoughts making it the perfect place to integrate and ask information.

Develop a better approach

It is proven by data that survey questions are being avoided by people because they are not comfortable with its usual robotic tone. This is why questions will be more welcome if you change it to mirror the qualities of human conversations. This is also how you would be able to get authentic feedback. Bt first, this will require you to improve your understanding on the prevalent chat culture and how you can provide the same experience in your engagement activities.

To be honest, market research still needs to go a long way before it can cope with the fast changing world. But, if business owners would now start to rethink research to re-examine the channels, technologies and tone, then there might be a chance. Progress, no matter how slow is still progress. So, there’s no reason not to be welcome it. Now, instead of imposing traditional ways of marketing, now business will relate to their market. It’s time for the industry to adjust and go to the different levels and points of life to meet with their customers who came from different generations and walks of life. Right now, what we need is to innovate and learn how to follow consumers’ lead because the industry’s future depends on it.

 

 

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What Makes Unified Commerce System a Big Thing in the Retail Industry?

For those who are not that aware of it, one of the changes made biggest influences of technology in the retail business is made through enabling the creation of a unified commerce platform through the reconciliation of systems such as the front-end and back-end into a single platform with a goal of delivering an efficient service to customers in all possible engagement points.

It also aims to alleviate operations and calibrate it to have more efficiency and precision. A successful unified commerce platform makes the processes much easier to handle and it gives a venue for business owners to have a wide, clear view of how their whole company runs. Now, in achieving all this, it involves transitioning to the digital world through a Cloud-based platform which will store everything data in a more secured and protected place.

This Cloud technology is also the key in putting together all cross-channel data while it enables retailers to make forecasts based on trends and patterns leading to the development of more effective strategies to engage with the customers and interact with them in their preferred channels. In short, unified commerce is all about creating a better customer experience.

The way people purchase today has become spontaneous, whereas online and in-store transactions are being done interchangeably. So, businesses must be able to offer services that will make it easier for customers to buy regardless whether they are doing it in a brick-and-mortar shop or through an online site.

Online selling must also provide adequate and accurate product data to customers as part of bringing convenience which is one of the major purposes why it exists. All channels must have consistent and informative product descriptions and recommendations that are relevant and in line with recent purchases. This is where real-time data becomes crucial within the organization and its systems. Thus, unified commerce comes in as the perfect solution.

In addition, unified commerce systems help retailer achieve transparency in their inventory. This is important especially for those who are selling across multiple channels because updates on inventory quantities should be done real-time. It is what will ensure that inventory levels are always spot on and prevents overselling. To keep it simple, unified commerce system also serves as a guide to make sure that there are always products available for the customers to buy. Otherwise they will be informed ahead of time.

Ultimately, unified commerce helps retailers in improving the services they are offering such as shipping and delivery. Through it, customers can be given more options thus, improving their experience through the freedom of having more choices.

Versatility in purchasing and delivery is something that is rarely present on business operating with conventional ways. This means the capability to integrate modern innovation in giving the most convenient transactions to customers starting from the buying of products up until their delivery on the shopper’s front door is what will make businesses boom in the industry.

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