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How To Streamline Your Retail Operations With Smart Financial Planning

365 Retail

Smart financial planning is essential to navigating these challenges effectively, ensuring smooth operations, and ultimately driving growth. This guide provides actionable strategies to streamline retail operations by setting clear financial priorities, managing cash flow, and optimising resources.

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2023: The Year of Customer Retention? Retail Tech Predictions

Retail Assist

We’re still seeing retailers planning to launch their own to broaden their product offering, reach and discovery. More shops have shut down in the last five years (according to the Centre of Retail Research which found 17,145 shops in the UK closed for good in 2022), but stores are still fundamental to the omnichannel experience.

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How the Subscription Economy Is Reimagining Every Industry

Retail TouchPoints

While subscriptions have been an option for consumers in a number of retail environments — from apparel and pet supplies to media consumption — the COVID-19 pandemic accelerated the adoption of subscriptions in a variety of industries that turned to payment technology to adapt their business. The Subscription Economy is Here to Stay.

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Why Uncommon Corporate Partnerships are a Must in 2024 (and How to Make Them a Reality)

Retail TouchPoints

Full-service restaurants are trailing their limited-service peers. At Lowe’s, for example, the company recently announced that after a successful store-in-store pilot program with Petco, they are planning on expanding from 15 Lowe’s stores to 300 stores by the end of the year. However, not all customers behave the same.

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Here’s what retailers need to know about social media use in Apac: Report

Inside Retail

On average, 34 per cent of those surveyed said their total marketing budget will be invested in social media, with as many as 77 per cent of respondents planning to increase or maintain their current level of spend. The whole idea is to have a customer in a fully self-contained ecosystem so they can choose services to pay for,” he explained.

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Memberships and Customer Loyalty Programs Grow Customer Lifetime Values

Storis

CLV serves as a crucial metric for businesses to assess the long-term profitability of their customer base and tailor marketing strategies accordingly. Retailers’ loyalty, reward, and membership programs grow Customer Lifetime Value (CLV) by encouraging repeat purchases and increasing customer retention.

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Welcome to the new customer experience

Inside Retail

In today’s new normal, the shopping experience is no longer defined by the boundaries of bricks-and-mortar, but by the customer journey as a whole. Consumers now expect retailers to engage them whenever and wherever they want, with a shopping experience tailored to their individual needs. And consumers can feel it.