If you’re a brick and mortar retailer, you realize how rapidly the retail environment has been changing, and the unique challenges physical retail is facing. For instance, online shopping is seeing tremendous growth and the cost of renting space is increasing.
Entrepreneurs and small retailers understand the challenges they face in growing and maintaining their business. Because they wear many different hats and must manage multiple aspects of their company, there are certain resources every retail entrepreneur needs to know. We’ve put together a list of 25 online resources for retailers that can help you increase brand awareness, keep customers happy, grow sales, and be successful.
Leslie Hildula, business advisor and lead of the retail programs at PCC Small Business Development Center, met with Kristen Mozian, Marketing Manager, to discuss how retail business owners can increase sales at their brick and mortar shops this winter on Facebook Live. Watch below or scroll down to the notes.
As the world becomes more connected, your company has increased opportunities to sell your product worldwide. Did you know 75% of the world’s consumers live outside of the US? U.S. companies that can sell to customers outside the US by exporting their products grow faster and are 8.5 percent less likely to go out of business than companies that do not export.
When hiring your first employee as a small business owner, it is important that you find someone who fits your business’s culture. Your employee is the first person you trust to support your mission and the first person who acts as a voice for your company. To continue growing, recruit and retain an employee who has the right talents to help your business succeed.
2017 is upon us! That means now is the time to develop your marketing plan for the new year, so you can hit the ground running on January 1st. We’ve put together some tips for creating your marketing strategy.
Innovation is a big word. It probably conjures up ideas about expansive R&D departments at corporate powerhouses like Apple and Google, but the truth is that innovation is imperative to businesses of all sizes in the 21st Century. The terms “innovation” and “small business” are no longer independent of each other.
Established by the U.S. Small Business Administration, October marks National Women’s Small Business Month and while the glass ceiling might still be prevalent, women are steadily coming toward the forefront of small business ownership.
In 2013, President Obama raised minimum wage to $9/hour, as previous wages were so low that families were unable to afford living costs. Today, states are raising wages even higher, with California being the first state to adopt the legislation that will gradually raise minimum wage to $15/hour. This increase is a positive one for workers, but what does this mean for small business owners like you? Well, it could mean that jobs might need to be cut if employers are expected to pay higher rates. We could also see an increase in prices (up to 4.3%) as well, as employers will need to make more money to pay a higher wage.
Holiday season is quickly approaching, and for many retail businesses this time of year has the potential to make or break the entire year financially. It’s vital to start preparing as early as possible, so you don’t leave any potential sales or revenue on the table after the holidays are over.
Holiday sales make up about 18 percent of overall annual retail sales, and in 2016 those numbers are expected to grow around 3.7 percent. Combine this with recent evidence that a growing majority of American consumers favor buying and shopping local, and it’s no wonder holiday craft fairs have seen a boom in recent years.