As the retail industry continues to reinvent itself, the old ways of measuring success are becoming obsolete. The traditional approach to sales metrics emphasized same-store sales, sales per square foot, customer traffic, units per transaction (UPT), average unit retail (AUR), and digital growth. The problem is, most of these metrics don’t reflect the way…
Small business owners often have to do more with less. Getting creative with limited resources should not be seen as a handicap, but as a challenge to rise up to meet. You may have already thought about this and think that no opportunity for cost-effective, time-saving improvements has escaped your eye. But have you…
The ongoing COVID-19 pandemic has offered businesses of all sizes a harsh lesson in the importance of being adaptable. Who could have thought a customer with a handful of cash would one day become an issue? And yet, as the 2020 holiday season approaches, such an event is enough to make any manager queasy.…
What exactly does “the best” mean? Product and service promotions all love to use the phrase, and too often customers exploring these options end up disappointed. The same unfortunately applies to POS technology, where the myriad of “best” options on the market often ends up either not fitting the needs of the modern cafe…
Running a business has always come with challenges, and you have always been able to rise above them. Tackling them head-on, you have created a business plan that is crafted to keep you nimble and flexible regardless of the circumstances. But even the best business planning could not have seen or addressed some of…
Retail, restaurant, and services gift cards have been given new life in the digital era. This formerly low-tech holdover from the days when your local Blockbuster was a cutting-edge entertainment provider is now a dynamic, multi-channel way to generate new business and inspire customer loyalty. Gift cards are among the most popular presents of…
Creatively building up the impact and recognition of your brand is a complex process. Online reviews and word of mouth recommendations, while effective, will have limits in both the reach and quality they lend to your voice. A better option that relies on your loyal customers while also allowing new customers to gain their…
It seems like business managers always have multiple jobs to do at once. You spend a lot of time managing your employees, vendors, and sales. A lot of your job revolves around putting out fires, too! In business meetings, backend operations such as accounting, taxes, and payroll usually take priority over discussions about the…