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Archive for March, 2009

Where Small Businesses often Excel : Customer Retention and Care

March 27th, 2009

Category: Retail Business Tips

Customer Retention a Problem at your Business? With the ever present battle to gain new customers, it is easy to forget the value existing customer relationships hold. Most company’s marketing budgets have no allocation for repeat customer sales and service despite the fact that consumer maintenance is much less expensive than procurement, and the purchases are more frequent, resulting in higher profits. Many experienced retailers and experts think that a large percentage of time and money should be spent on customer retention. Consultant Ter...

Knowing Your Customer One of the Keys to Retail Success

March 27th, 2009

Category: Retail Business Tips

One of the tips to Retail - Know your Customers The customer is all important, but do you really know who your customers are? It is surprising how many businesses think they know who their customers are, but have never really spent time to do any in depth customer evaluation One of the simplest techniques is to capture the demographics of your customers at the point Read more »

USA Office Supply Retailer Staples sees increase in sales but decrease in profits

March 12th, 2009

Category: Retail Business News

The world’s largest office supply chain, Staples released 4th quarter 2008 results showed a 14 percent drop in profit from the previous year. This comes on an actual increase in overall sales but of less profitable items. The retailer sells a variety of items in it’s retail stores from consumables such as paper, toner cartridges, and ink to infrequent purchase items such as furniture and computers. Mike Miles Staples COO Staples COO Mike Miles states a reason for the reduction in profit: “Demand for furniture and technology remai...

How Retail Business Software allows you to focus on your business and the fundamentals.

March 6th, 2009

Category: Point Of Sale Systems

In our story about Woolworths and the recent increase in employees we had a quote from CEO Michael Luscombe where he states what makes retail succeed: “the right products available and well-presented in our stores; a competitive price, and people who enjoyed interacting with customers.” In this article we will discuss how a good Retail Management System makes all of these things easier to happen. “The right products available” A key feature of any good Retail Management system is that it will track all items in a store, the fre...

Retailer Woolworth’s to create 7,000 jobs

March 6th, 2009

Category: Retail Business News

Woolworth's Store in Australian Mall In an example of a retail business that is not only surviving but flourishing one does not have to look farther than the local Woolworth’s. Retail giant Woolworths is defying current economic trends, and expects to create 7,000 Australian jobs in the next four months. The supermarket company posted a 10 per cent increase in first-half net profit to $983 million. Sales have risen almost 9 per cent over the last quarter to $26 billion. It has opened 122 new stores in this half-year and completed 190 refu...