Midsized retailers lacking an accurate inventory run the risk of losing customers, especially if a competitor has the same or a similar product. According to an IBM study, if an item is out of stock, and the store can’t find the item in another location, 72% of customers will switch to a competitor. Keeping an up-to-date inventory is vital, especially as the retail industry continues to evolve. Simply put: If […]
No matter where you look, everyone seems to be obsessed with millennials. The reason for that is simple – millennial shopping trends are now influencing the retail market in a very big way. So, who are these millennials, exactly? They are individuals born between 1982 and 2000, as defined by the United States Census Bureau. According to Pew Research Center, they are expected to overtake baby boomers in population in […]
As a midsized retailer, you must’ve seen this happen many times. You have customers in a queue line, ready to pay for your products, but you don’t have enough people to serve them all quickly, which leads to – you guessed it! – some customers abandoning the line. What’s worse is that many of them never come back. It’s the “last mile” – the final obstacle before your journey is […]
If you own a midsized retail chain, you must have a warehouse. In fact, we’d be worried if you didn’t. And we’re sure that your warehouse has worked out perfectly for your physical stores. But then, you had this crazy idea to start selling products online and delivering them straight to customers’ homes. That’s when your warehouse stopped being that handy – at least, not for the online portion of […]
As you already know, online shopping is a big deal. We probably don’t even have to throw any stats at you to prove it, but here ‘s one anyway – according to BigCommerce, 96% of Americans with internet access have made an online purchase in their life, 80% in the past month alone. As a traditional midsized retailer, you can view this either as a cataclysmic problem – or an […]