The Importance of Proper Inventory Management
You can’t sell what you don’t have. That is why proper inventory management is essential to any small business looking to keep a steady sales flow. Whether it’s disappointing customers who cannot find their favorite and trending items on the shelves, or overstocking merchandise that takes up needed space. Poor inventory oversight of your items […]
Unique Value Proposition: Revisiting the Concept of Business Strategy
Robert Donnelly Strategy sets the direction for any company. However, many firms do not have a clear written strategic plan as to how the company will continue to grow profitably. Every company has a unique culture and resources made up of its human resources, technology and branded products. But, when taken collectively, these have largely […]
Starting a Food Truck Business – What You Need to Know
There was a time when the only trucks dispatching treats around the neighborhood were of the ice cream variety. Now, the tasty aromas of empanadas, corn dogs, ribs and tacos emanate from food trucks at farmer’s markets, street fairs, ball games, holiday gatherings, concerts and many other events. The industry is experiencing ever-expanding growth. According […]
Small Business Marketing – Understanding Your Market and Leveraging Local Demographics for Business Growth
If you’re a small business owner, you’ve likely heard the advice to “know your audience.” It’s something we marketers say out loud to anyone who will listen. But what does that really mean, and what does it actually entail? If you’re reading this and you own a small business, you’ll say “This is easy – […]
The Rise of Craft Breweries
Craft breweries have undergone an exponential transformation over the past decades, from niche venture to booming industry. The numbers bear witness to the incredible growth of these establishments. In the late 1970s, the infancy of the industry, there were fewer than 100 craft breweries in America. At the sunset of the 1980s, some 300 craft […]
The Importance of Accepting eWIC Cards At Your Business
Accepting eWIC is a great choice for businesses looking to serve their community, grow their customer base and increase revenue. eWIC is a program consisting of government-issued, electronic benefit cards focused on serving women, infants and children. It is the modern-day, digital equivalent of food stamps for underprivileged and underserved women. The cards are used […]
Are shoppers shifting their spending habits by choice or out of necessity?
The long-term impact of inflation is becoming increasingly more evident in shoppers spending habits. Year to date for the 12-month period ending May 2024 the inflation rate was +3.3%. However, if you look at the last 3 years, inflation was +4.7% in 2021, 8% in 2022 and 4.1% in 2023. These increases have impacted every […]
Elements of Success in the Cannabis Industry
As a growing number of states continue to legalize the sale of recreational marijuana, cannabis dispensaries have become a rapidly growing and very lucrative business opportunity. There is huge market demand for cannabis, making dispensary ownership an ideal business proposition. However, like any retailer, the proprietor of a cannabis dispensary cannot simply open the doors […]
Can Social Media Influencers Help Your Business?
You are a retailer and ready to spread the word about everything from your products and sales to being part of the community and top-notch customer service. You’ve got great brick-and-mortar and online stores and use social media platforms such as Instagram and YouTube as promotional tools. Let’s say a business owner has a few […]
AI and Machine Learning Provide Retailers with Multiple Benefits
The proliferation and advancement of artificial intelligence and machine learning technology have rapidly and greatly increased business efficiencies and profit margins. This technology improves on a daily basis, allowing those who embrace AI and machine learning to grow exponentially. Many retailers think of AI and machine learning as the domain of large corporations. A tool […]
