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The Impact of Inflation On the Retail Industry and Consumer Behavior: How to Overcome it?
Retail sales slowed in May as consumers faced continuing inflation and its impact on the cost of everything from groceries to gas. Consumers are changing their shopping behavior in the face of rapidly rising prices. According to a recent NRF study, almost half of consumers are switching to cheaper alternatives and are more often looking […]
8 Key Challenges Facing the Jewelry Industry Today – And How to Overcome Them
Jewelry retailers looking to accelerate their recovery strategies in the post-COVID black swan must make bold decisions to prepare for the new normal. This means conducting due diligence on their existing retail strategy and business models as they must look for ignored blind spots and key challenges facing the jewelry industry. The jewelry industry will […]
Top 7 Omnichannel Inventory Management Challenges for Retailers
As consumers begin to expect a convenient omnichannel shopping experience, the use of alternative fulfillment options such as click and collect or same-day delivery is steadily increasing. Now, it’s vital to give customers what they want, when they want it, and where they want it. Yet this level of customer-centricity puts tremendous pressure on retailers […]
10 Sporting Goods Industry Trends Shaping the Retail Landscape
The sporting goods industry continues to evolve amidst increased health awareness, changing channel preferences, and growing concerns about sustainability. Merchandising is the art of showcasing your products to sell more. It’s not just about putting products on the shelf, but it does entail that. For sporting goods retailers, selling more products doesn’t necessarily mean balls […]
10 Ways to Boost Sales for Arts & Crafts Retailers
The Arts & Crafts business has undergone significant changes in the last few years. The growth of e-commerce and the COVID-19 pandemic has caused a permanent shift in consumer buying behavior, resulting in a rapid surge in online shopping that is unlikely to reverse. The industry must prepare for this generational shift in the craft. […]
10 Hot Summer Marketing Ideas to Maximize Your Retail Sales
As temperatures rise, retail sales might tend to cool down. While warmer temps less impact online sales, brick and mortar operations may want to invest time and resources to attract consumer traffic this summer. Whether your retail store is primarily online or has physical locations, there are ways to capitalize on the summer selling season […]