Author: Retailist Team

When retailers default to driving conversion alone at checkout, they may be increasing purchases in the now, but it’s often not the right way to create profit long-term. Instead, retailers need to cater checkout to shoppers’ needs and wants, which will increase a mix of conversion, average order value and long-term value.

Retail managers have a choice when they enter periods of slower foot traffic – sit by idly, or create a plan for success when customers come back. Some forces are outside of your control, but focusing on improving the things you can will make the difference in creating a prosperous location.

This seemingly innocuous accounting practice can wreak havoc on a business’s cash flow, leaving them financially impaired and submerged despite robust sales figures.

Amid the COVID-19 pandemic, it became essential for retailers to offer safer, more convenient options like online shopping, order pick-up, and self-checkout. However, while these options were designed to improve customer convenience and help keep retailers alive, they may have been the retail industry signing its own death warrant…

“In today’s economic climate, it’s understandable that 39% of shoppers are prioritizing budget-friendly options for their everyday purchases. But when it comes to the holidays, our research paints a different picture — folks are ready to open their wallets,” said Salsify Research Director Dom Scarlett.

Even as the marketing landscape evolves, by leveraging a variety of tactics, SBOs have an incredible opportunity to foster loyalty and forge an even deeper understanding of the customers that matter.

By analyzing workflows and developing strategies to improve them, marketing can showcase its quantitative impact to the C-suite. It’s not going to be easy, but we’re at a moneyball moment for marketing right now. The question is, who’s going to do it first?

“Our shipping used to be reliant on a ton of manual data entry but now it’s completely automated. An order comes into Brightpearl from the seller platform and gets sent automatically to the 3PL that ships it. We don’t even have to touch it.”

In order for retailers to stay ahead of theft, they must develop efficient procedures and vetting processes for shipping their goods.