Let’s face it – the retail industry is not known for its early adopter behavior in technology. The dizzying pace of change in retail today can leave retailers feeling as if the sands are shifting so rapidly that they must sprint just to keep up, much less take a proactive stance.
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It goes without saying that in 2017 every business needs a strong online presence. Still, if everyone has it, it’s like no one has it. In the sea of generic online ads, you need something that will make you stand out. This ‘something’ is a proper digital marketing strategy.
Blockchain is a digital ledger. It’s a distributed database that allows trustworthy and permanent record keeping. Each record, or block, is timestamped and links back to a previous block.
Consumers today are rarely without their smartphones throughout the day, even in-store. With an increasing number of sales coming from mobile, the need for an omnichannel strategy that reaches consumers and builds relationships is becoming a necessity for retailers of all sizes.
Independent retailers and online merchants have one big thing in common: as small business owners, you need to watch the bottom line.
On the very surface, branding is thought of as marking your products with an icon or signature. However, creating an effective brand identity goes well beyond a logo.
In the March issue of Independent Retailer, we interviewed SoftBank, the robotics company who owns Pepper, the retail robot. Though we focused on the consumer-facing implications of robotics in the retail industry, there is much more to the puzzle.
Tax reform is the next item on the White House agenda after healthcare and the federal budget. Overall, President Trump has promised big tax cuts for corporations and for middle-class Americans, all in the name of strengthening American businesses, creating jobs, and bolstering the economy.
There’s a stigma about off-price retail: that there’s less profit to be made in the value sector, that lower prices mean lower quality, or that expanding into off-price merchandise will devalue a brand.
Everything in business comes down to transactions, so to beat the competition, all you have to do is offer a more valuable or appealing transaction than your competitors.