Two years ago, several reports emerged that delved into the various pricing models and the need for a more effective and scientific approach to pricing strategies. Since then, the retail industry has continued to shift far faster than many could have predicted a mere 24 months back.

Companies that choose to trade internationally become 34% more productive in the first year, whilst exporting businesses are 11% more likely to survive than those who don’t. Let’s face it, there’s no denying that international expansion is crucial for any growing retailer that is hoping to build a bigger brand.

This guest article comes to you from JH, an ecommerce digital agency specializing in bespoke Magento solutions.

At JH, we’ve been recognized by Magento as leading the way in responsive mobile design and development. We’ve won the Magento Imagine Award two years running in this category, and this year, we’ve continued to earn this reputation as the go-to experts in this area, with every site built for clients being fully responsive, as well as our first Mobile Apps going live.

When dealing with stock and inventory valuation, there are three main options: LIFO (Last in First out), FIFO (First in First out) and AVCO (Average Cost or Weighted Cost). When deciding which of these is best for your retail business, it depends on how you would like stock values reflected in your accounting for cost of goods sold and how you deal with inventory.

A few years ago, few people would have predicted that in 2017, customers would again see the value of shopping with independent businesses. Yet that’s exactly what’s happening. Since Generation Z prefers shopping with brands which seem authentic and Millennials love a brand which improves their community, there has never been a better environment for independent retailers to compete with big box stores.

The Spring and Autumn Fair events are one of the largest wholesale trade events for the home and gift industries. The show highlights new products, showcases top brands, offers retail insight, and aims to give you the inspiration you need for your business.

With the retail industry becoming more and more competitive by the day, retailers everywhere are seeking new ways to improve efficiencies, speed up processes and strive ahead of their competitors through unique innovation.

Hello and welcome to August: In Review

July | June | May

It’s the end of August already, which can only mean one thing: it’s time for our monthly roundup of the hottest retail and ecommerce stories to hit the web. Before you jump straight into September, take a look at our 4 favorite picks of the month including Amazon Transit Time changes, an interactive peak season quiz, ecommerce returns management advice and global ecommerce markets statistics.

Selling products online in the United States can be very complex due to all fifty states (and the District of Columbia) each having different rules and regulations for sales tax. 

July's retail data sees UK and US orders up, but average spending down as customers' habits change. Here are the results at a glance:

• Total number of orders increased by around 20% compared to last year (July 2016)

• However, total order value increased by a more modest 4.4% in the UK and remains flat in the US

• Meanwhile, the average order value (AOV) drops by 13% in the UK and 15% in the US as customers decide to place more individual orders, more frequently

Now let's take a look at these findings in more detail...