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Whether you’re trying to open your own operation, expand a current operation, renovate/update certain features of your store, or grow your business in other ways, it’s important to take the right steps to secure a loan. After all, most retail businesses will require a loan at some point. And for many, sufficient loans early on [...]
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Similar to discounts and promotions, retail markdowns, as the name suggests, entail lowering the price of a given item. But unlike discounts and promotions, markdowns are permanent price changes. They don’t come attached to specific criteria. For instance, college students or senior citizens might qualify for certain discounts. Or stores might run holiday sales. [...]
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Each year there are hundreds of huge retail conferences, conventions, and trade shows around the country, and thousands more around the world. They're a great way for B2B vendors and retailers alike to meet, learn, network, and grow their businesses. But for many retailers, it's difficult to find time to attend, and even harder [...]
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After years of battling, Visa and Mastercard have each separately reached an agreement with the European Union over their multilateral interchange fees (MIF) on foreign cards. The move will save retailers about 40% of what they were previously paying in transactional fees.Credit/Debit Interchange Fees ExplainedEU Sets New Interchange CapEuropean Commission Regulations Now Cover Inter-Regional MIFHow [...]
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As we progress further into the 21st century, more and more retailers are embracing various types of technology to aid in retail business operations. Loyalty programs, digital marketing, inventory management, sales metrics, and modern payments are just a few of the ways that many business owners are using modern tech advancements. And with competition [...]
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It’s more important than ever for any business to beef up its digital marketing. The problem is, it’s not easy. It’s difficult to learn about every digital marketing tool and channel out there. And once you do, it’s even more difficult to choose which are worth allocating time and money towards. Plus, there is [...]
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It’s critical for all businesses to diversify their sales and marketing channels. You’re probably tired of hearing about the omnichannel shopping experience, but it really is that important. One of the most discussed sales avenues is eCommerce. Online sales continue to grow at an incredible rate each year and retailers need to keep up. [...]
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Whether you’re opening a new store or looking for a new spot for an existing business, choosing the right location is a critical step. Finding a popular spot with good foot traffic at the right price is a balance that all retailers need to seek. But it’s not easy. The best spots are often [...]
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Many big eCommerce retailers are now offering free shipping. Amazon Prime members get free shipping on any Prime item, Walmart now offers free 2-day shipping on any order over $35, and Target offers free 2-day shipping if you use their REDcard and $2.99 next-day delivery. Of course, these rates are impossible for small businesses [...]
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At this point, we all know the impact eCommerce has made on the retail scene. And of course, no retail brand has had a bigger impact than Amazon. While most big-box retailers have seen sharp declines in market values and revenue over the past decade plus, Amazon has grown enormously (about a 2000% increase [...]
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