July 12, 2019

What Is Price Elasticity Of Demand?

Price Elasticity is used by economists to understand how supply or demand changes work in the real economy when price changes are made to a product or service. When it comes to setting the prices for your products and services, it can be a difficult decision to face. At some point, every company or business must… Read more »

July 5, 2019

Forecasting Inventory: How To Do It Right

It doesn’t matter what type of business you run, an online ecommerce store or a brick and mortar store, inventory forecasting is vital to the success of your business. Think about it, what happens if you don’t have enough inventory on hand? Simple, you lose sales! What happens if you have too much inventory on… Read more »

July 5, 2019

POS Reporting: What It Is And How It Can Grow Your Business

While there’s a number of different data points that can help your business, few are as important as your POS Reporting. If you’re a retail business, analyzing sales data, inventory performances and employee sales is vital to the growth of your company. Before we dive in, what are POS reports? What Is A Point Of… Read more »

June 7, 2019

How To Use Business Analytics To Fuel Your Company Growth

Business Analytics (BA) refers to the practice of exploring a company’s data with a core focus on statistical analysis. Business analytics is used by companies that are committed to data-driven decision-making, which is vital for fueling the growth of your business and gaining a competitive advantage over your market. It requires quantitative methods and evidence-based… Read more »

May 1, 2019

5 Ways to Increase your Sales in 2019

Retail can be a volatile space – at times, it’s a feast-or-famine situation. Many times, a sharp decrease in sales are due to factors outside of human control such as bad weather, product recall, new competition, changing consumer preferences, etc., but there are plenty of ways to combat the bottom-line-eating “slump” in sales. Your business… Read more »

April 24, 2019

Generational Differences in Your Retail Consumer Base

Buy Now If it seems like Generation Y consumers are always shopping with their phones, well, they are. New research from GfK shows that 73 percent of those ages 29-38 report using a smartphone for shopping over the last six months. That’s compared with just 33 percent of baby boomers (ages 54-72) and 59 percent… Read more »

April 12, 2019

What Is A Sales Cycle And How To Master Every Stage

While the definition of sales cycle can differ depending on whom you’re talking too, essentially it refers to the process that a company uses to obtain a new customer. It includes all activities associated with closing a sale. These steps and processes in a sales cycle can differ from one company to the next, depending… Read more »

March 18, 2019

What Is Supply Chain Management?

Supply Chain Management (SCM) refers to the complete range of activities needed to plan, control and execute a product’s complete journey, from the purchase of raw materials and production through distribution to the customer receiving their order, in the most efficient and cost-effective manner possible. If a company wants to compete in international and global… Read more »

March 7, 2019

Retail and Artificial Intelligence: What’s Next?

Retailers are constantly talking about the future, but what technologies are going to take them there? When we think about innovations like chatbots, personalized product recommendations, dynamic pricing and programmatic display, there’s one common denominator. All of these are great examples of how artificial intelligence can be a game-changer for a multichannel retailer. Over the… Read more »