Advice
Visit Retail Sector for advice, best practice, how to guides, and top tips for successful retailing, both on the high street and online. Retail Sector is your one-stop-shop for retail news, analysis, interviews, features and advice, keeping you in the picture.
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Jan- 2024 -9 January
A guide to effective crisis management for retailers
Prepare in advance The first step in crisis management is proactive preparation. Retailers should develop a comprehensive crisis management plan that includes: Identifying potential crises specific to the retail industry. Designating a crisis management team with clearly defined roles. Establishing communication protocols, both internal and external. Creating a repository of…
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8 January
Sonic Success: Understanding the importance of audio branding in retail
Building emotional connections – Sound has a remarkable ability to evoke emotions and trigger memories. A well-crafted audio brand can create a positive emotional connection with customers. For example, a soothing and familiar background music track can make shoppers feel relaxed and at ease, leading to a more enjoyable shopping…
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6 January
Managing retail cash flow and finances: A comprehensive guide for retailers
Create a detailed budget – The foundation of sound financial management is a well-crafted budget. Develop a comprehensive budget that outlines your projected income, expenses, and profits. Regularly review and update this budget to reflect changes in your business operations. Manage inventory effectively – Excessive inventory ties up cash and…
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5 January
Understanding consumer psychology: A retailer’s guide to boosting sales
Consumer psychology is the study of how individuals make decisions related to purchasing goods and services. It explores the intricate web of thoughts, emotions, and behaviours that drive consumers to choose one product over another. Understanding consumer psychology is akin to having the keys to unlocking the potential of your…
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4 January
A retailer’s guide to building a socially responsible brand
Define your values and commitment The foundation of a socially responsible brand lies in the definition of core values and unwavering commitment to social and environmental causes. Start by identifying the causes that align with your business ethos and connect with your target audience. Examples include championing fair labour practices,…
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3 January
How to Offer a Buy Online, Pick Up In-Store (BOPIS) Service
Step 1: Assess your readiness Before diving into BOPIS, it’s essential to assess your store’s readiness for this service. Ask yourself these questions: Do you have an e-commerce platform in place? Is your inventory system accurate and up to date? Do you have a point-of-sale (POS) system that can handle…
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2 January
Exploring Customisation Opportunities with 3D Printing
The Rise of Customisation in Retail Consumers today crave personalized products and experiences. Be it personalized apparel, custom-designed home decor, or bespoke jewellery, the desire for unique, tailored items has become a driving force in retail. This shift in consumer preferences has given rise to customisation as a key competitive…
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Dec- 2023 -29 December
Navigating Global Markets: A Retailer’s Guide to International Expansion and Localisation
In the ever-evolving landscape of retail, international expansion presents a promising avenue for growth and increased market reach. However, venturing into global markets requires careful planning and a keen understanding of cultural nuances. Localisation, the process of adapting products and strategies to suit specific markets, becomes crucial for success. Here’s…
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28 December
Virtual Shopping Assistants in Retail: A Comprehensive Guide
Virtual Shopping Assistants (VSAs) are revolutionising the retail industry by providing personalised, convenient, and immersive shopping experiences. As retailers increasingly adopt this technology, understanding how to leverage virtual shopping assistants effectively is essential. In this comprehensive guide, we’ll explore what VSAs are, why they matter, and how to implement them…
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27 December
The Retailer’s Guide to Virtual Reality Shopping Experiences
The retail landscape is evolving rapidly, and one of the most exciting developments is the integration of virtual reality (VR) into the shopping experience. Virtual reality shopping offers a new dimension for both retailers and customers, providing immersive, interactive, and highly engaging experiences. In this guide, we’ll explore how retailers…
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