Remove Location Remove Merchandising Remove Planning Remove Specialty Retailers
article thumbnail

Open to Buy: The Retail Business Art

Retailing Insight

When done well, it creates an integrated buying and merchandising approach that ties together your marketing, customer service, point of sale, accounting, and operations and focuses all of them on one thing: great cash flow. Lots of specialty retail stores plan their business by “buying what we sold last year” or “we expect to be up 2%.”

Art 52
article thumbnail

What is Omni-channel Retail?

Retail Bound

Although many new product companies are finding success selling on Shopify or Amazon, online sales still only represent 20% of all retail sales, whereas offline channels like brick-and-mortar locations, catalog, TV Shopping and Reward and Incentive markets represent 80%. Retail stores is by far the largest retail market segment at $6.5

article thumbnail

Here’s how Best & Less plans to stand out in the crowded discount sector

Inside Retail

This gives Best & Less a point of difference in the highly competitive discount department store sector, where the dominant player Kmart has a broader focus on homewares and general merchandise. Best & Less sees itself as a hybrid between a discount department store (DDS) and specialty retailer. “We

Planning 130