Protect your profits by focusing the right amount of attention on loss prevention. Consider the story, below, about an employee who stole company time and charged up huge telephone bills by calling a 1-900 number! It goes without saying that retail stores, being open to…
Retail Store Categories Based on NAICS Classification System The North American Industry Classification System (NAICS) has replaced the U.S. Standard Industrial Classification (SIC) system. NAICS will reshape the way we view our changing economy. NAICS was developed jointly by the U.S., Canada and Mexico…
Never Ever Give Up! If you’ve given up…if you’ve already decided that you’re not going to participate in any further personal or professional development, then don’t bother reading the rest. It’s all about success, personal and professional growth, and betterment. It’s about overcoming common…
Have you been approached by a real, live human salesperson lately? For years, we’ve seen a steady decline in the amount of active selling going on in stores. Even taking Covid 19 and social distancing out of the equation, in recent years human interaction…
Retail Business Plan Basics The best way to show bankers, venture capitalists, and angel investors that you are worthy of financial support is to show them a great business plan. Make sure that your plan is clear, focused and realistic. Then show them that…
Loss prevention means ‘to prevent losses of company assets’. Shoplifting creates losses of one of the company’s most significant assets – their inventory. To a new retail person the idea of dealing with a shoplifter (sometimes referred to as boosters but this is usually…
Introducing the 6th Pillar of Retail: It started out with 4 pillars (or 4P’s): Product, Promotion, Price and Place. People did not count for much back then. In early 1980’s with the revolution in management fueled by such publications as “In Search of Excellence”,…
