40 search results for “Alexandra Sheehan”

Inventory Management: Crucial Tools to Keep Your Products in Check

Inventory Management: Crucial Tools to Keep Your Products in Check

Inventory management | Shopify Retail blogThough not the most exciting facet of your retail business, inventory management is crucial to your success.

Without it, you’re missing out on revenue opportunities, not to mention tossing money out the window.

In fact, retailers lose $1.75 trillion annually because of out-of-stocks, overstocks, and returns — problems that could be minimized with an effective inventory management solution.

Because inventory management is a crucial issue for store owners, it’s crucial to ensure you have the right measures in place to keep your shelves stocked and revenues flowing. So, let’s take a look at the ins and outs of inventory management, and how retailers can best optimize their processes.

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Post-Mortems and Event Sales: How to Measure Success to Improve Future Sales

Post-Mortems and Event Sales: How to Measure Success to Improve Future Sales

Craft fair, event post-mortems | Shopify Retail blogSelling at events offers a wealth of opportunities for all kinds of retailers. Whether you have a brick-and-mortar store or not, numerous of product lines or just one, it can be a way to generate awareness and conduct sales in a new environment.

But when it comes to choosing events to sell at, it can feel like you’re shooting in the dark. What if you don’t sell anything? Does that mean it’s a failure? What does success even look like? Those are questions that are hard to answer if you don’t analyze the event afterward through a true post-mortem process.

Not sure about conducting a post-mortem? To help you move forward, we’re examining how you can dive deep into your event sales. Here, you’ll learn how to reflect on each event, analyze your sales and engagement data, and implement your learnings to bolster future event sales.

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Retail Trends: 10 Experts Share Their Predictions for 2017 [Giveaway]

Retail Trends: 10 Experts Share Their Predictions for 2017 [Giveaway]

Retail trend predictions | Shopify Retail blogWith a new year comes change. New industry trends. New consumer behavior and demands. New tools and technologies to incorporate. New opportunities.

And with all that is new, retailers are forced to adapt to meet demand and stay ahead of the competition.

To help retailers learn what to expect and how it may affect their business, we reached out to 10 retail experts and asked them:

“What is your prediction for what will change in retail in 2017?”

Our experts talked about data, convenience, personalization, mobile, and digital. While the answers varied, there was one major recurring theme: Retailers and consumers are getting smarter.

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The Complete Guide to Market Research for Your Retail Business

The Complete Guide to Market Research for Your Retail Business

Man looking at market research | Shopify Retail blogConsumers are no longer solely concerned just with price point. Purchase decisions are now being made with more factors at play, things such as brand differentiation, reputation, and customer-centric return policies.

But it’s hard to read a customer’s mind, and it’s also a challenge for retailers to figure out where they fit when compared with their competition.

Especially for retailers just starting out, it may feel like a lot of decisions are made on guesswork or instinct. Market research can remove much of that uncertainty, by helping you understand your industry, your target customer, your competition, and your product. And when you understand all that, your chances of success are a lot greater.

There are many agencies that you can hire to conduct market research for you, but if you’re on a budget, there are ways you can do it yourself.

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Turn Website Traffic Into Foot Traffic: How to Get More Customers in Your Store

Turn Website Traffic Into Foot Traffic: How to Get More Customers in Your Store

Web traffic to foot traffic in store | Shopify Retail blogOnline and offline retail sales no longer work in silos. The Harvard Business Review published a case study about the role of websites in the modern-day retail industry. That case study found that many retailers are struggling to convert shoppers in-person — instead, consumers browse in real life and opt to make the purchase online at a later date (a phenomenon referred to as showrooming).

It’s an interesting dilemma, and it brings up the importance of a retailer’s in-person and online presence. And whether customers are browsing in-store or online first, those multichannel shoppers present a lot of value and opportunity for retailers. Why? Well, customers who purchase both online and in-store have a 30% higher lifetime customer value.

And more consumers are finding your website first. Almost all (96%) of online shoppers search for local businesses online. If you don’t have a website, you’re missing out on a lot of potential sales, whether you want to open an ecommerce store or not.

So, how can retailers capitalize on those website browsers? Here’s what you need to include and how to promote your brick-and-mortar shop on your store’s website.

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10 SEO Tools Retailers Can Use to Drive More Online and Offline Traffic

10 SEO Tools Retailers Can Use to Drive More Online and Offline Traffic

SEO tools for retailers | Shopify Retail blogSearch engine optimization — SEO — is an important way to make sure people are finding your brand and your website online.

And though many might think SEO is just about using the right keywords, it’s actually much more complex.

Backlinks, page speed, keyword density, product ads — SEO encompasses so many things. If used effectively, it can make a major impact on both your ecommerce and brick-and-mortar retail sales.

Many SEO pros are still mourning the loss of Google’s Keyword Planner, but there are other tools available that pros and novices alike can use to up their SEO efforts, drive more traffic, and boost sales. So, here are 10 tools that can help retailers on their journey to optimizing your site.

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10 Unique Visual Merchandising Ideas You Should Steal

10 Unique Visual Merchandising Ideas You Should Steal

Visual merchandising ideas | Shopify Retail blogVisual merchandising refers to anything that can be seen by the customer inside and outside a store, with the overall purpose of getting customers into the store.

But visual merchandising goes beyond window displays that lure customers in, says Chris Guillot, founder and retail consultant of Merchant Method.

“It really is much more comprehensive than that. The goal is to get customers to come into your store and spend money.”

How can retailers go look beyond product displays and score some visual merchandising ideas that will pack a punch? Here are 10 steal-worthy ideas you might not have thought of on your own.

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14 Essential Giveaway and Contest Ideas for Retailers to Boost Traffic and Engagement

14 Essential Giveaway and Contest Ideas for Retailers to Boost Traffic and Engagement

Giveaway ideas for retailers | Shopify Retail blogContests and giveaways are promotion tactics through which retailers can both acquire new customers and engage with existing customers, all while building brand awareness and growing your business — when done successfully.

But the benefits of contests and giveaways extend beyond the buzz around the event itself. They’re great for capturing consumer data, such as email addresses and demographics information, and can serve as the groundwork for building relationships with your customer base.

Contests and giveaways are so appealing to retailers because of their flexibility. You can spend as much or as little as you want, both on the prize itself and your marketing efforts behind it. Results vary, but when done right, they reap serious rewards.

This case study about Jewel Scent shares how a candle, bead, and soap retailer hit a revenue goal of $2 million in Q1, largely thanks to their promotions efforts. And these retailers grew their email subscription list by tens of thousands and experienced growing conversion rates.

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20+ Unique Ideas to Boost Foot Traffic to Your Retail Store

20+ Unique Ideas to Boost Foot Traffic to Your Retail Store

Ideas to boost foot traffic | Shopify Retail blogEven though a strong online presence is essential for many retailers, it’s important to not overlook the power of your brick-and-mortar store. But the challenge for some is how to increase foot traffic and boost in-store sales — and how to measure this.

Given the data, it’s no surprise that retailers might struggle with increasing customer visits to their physical locations. 71% of shoppers believe they’ll find better deals online, but 94% of retail sales are still credited to brick-and-mortar stores.

When trying to boost foot traffic, first understand your customer base and target market. Then look for ways to differentiate from your competitors while remaining relatable and relevant to your target customers. Not every idea will work for every brand. And don’t be afraid to test ideas out. Trial and error is one of the best ways to learn what will be most effective.

While there are many methods to lure shoppers to visit your store, there’s likely some out-of-the-box strategies you haven’t explored. That’s why we’ve curated a lengthy list of unique ideas for retailers to boost foot traffic and increase sales in their brick-and-mortar stores.

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