Choosing new retail business management software is only the start of your journey to becoming a better retailer. Implementing it deeply into all aspects of your business is key to success. For a fully-integrated software platform to do its job properly, your whole team need to be using it. In this article, we’ll see how implementation of Sage ERP and Brightpearl differ.
In short, dropshipping is a fulfillment method whereby instead of sending the customer an item from your own inventory stores, you instead forward on the order or shipment as a request to a vendor or manufacturer. They will send the item to the customer on your behalf, usually with your branding (so the customer has no idea the item didn’t come from your own shelves!), and then will bill you directly.
Fast growing established retailers are always looking for new ways to improve their business’ efficiency and one technique retailers must consider is automating manual processes. The decision to adopt automation comes with the inevitable concern about the difficulty of transitioning to new technology.
With the ever increasing pressure on businesses to be more lean and more competitive within the market, the ability to know how you are doing is more important than ever. Thus, real time accounting comes into play to an even greater extent. What was once a finger in the air approximation of your finances, profit and loss and stock values, is now a vital part of your day-to-day business workflow.
Retailers of all sizes are increasingly using multichannel strategies to expand their sales base. But growing a multichannel retail business is easier when you have capital on hand to fund your needs. This could be where a business loan can help with making progress toward your growth goals.
When we spoke with fast growing omnichannel retailer, Natural Baby Shower recently, they advised us that automating their retail workflows saves them 60 hours per month. That’s a pretty powerful statement. Now if we centered on the statistics alone, then the argument of how to stay ahead of the curve this holiday season would be finished pretty quickly. It would be a case of us telling you to automate and never look back. But the benefits of automation go much deeper than just the time saved, especially in the run up to and during the peak holiday season. Let’s discuss...
Some marketers may say that millennials (those born between 1982 and 2004) aren’t loyal customers, but research shows otherwise with 64 percent of millennials considered to be brand loyal, or more brand loyal than their parents. But millennials do have specific purchasing habits that distinguish them from other customers.
Hello and welcome to July: In Review
School’s out for summer and so are the eager shoppers... That can only mean one thing, July has been and gone! It’s time to review last month’s hottest retail and ecommerce content.
It’s crucial that the transactions in your accounting system match your bank statements 100 percent. Otherwise, how else will you be able to guarantee that your profit reports are accurate? This is where an in-depth (regular) bank reconciliation comes into play within your retail business.
Assessing how well your business is doing when faced with demand, competition and customer complaints is essential to ensuring you have a business that is capable of growth, customer satisfaction, and ultimately, success. This is where Retail KPIs (Key Performance Indicators) come in.