Welcome to another issue of This Week in Retail! As usual, we’ve got an awesome lineup of must-reads this week, including articles on improving the checkout process, optimizing your profit margins, giving your store an extreme makeover, and more. Get all caught up below:
1. The future of retail checkout: no checkout at all? – This article discusses the evolution of retail checkout and the technologies behind it. It also tells us what some retailers are doing to streamline the checkout process and what they can do to further improve the customer experience. Even if you’re not planning to rework your checkout process anytime soon, be sure to give this one a read–or at least bookmark it for future reference.
2. The smart way to shrink your retail footprint – This post offers simple tips for merchants who want to shrink their retail footprint. From subletting your space to finding a partner to help with rent expenses, it should give you some ideas on how to lower costs. It also has some great advice on how you can improve efficiency and maximize the space you already have in order to increase your sales per square foot.
3. 5 ways to boost profit margins – WisePricer published an excellent post + infographic on how retailers can optimize their profit margins. Informative and actionable at the same time, it discusses the top 5 challenges retailers face when it comes to pricing, while shedding light on the opportunities you can take advantage of to increase your margins.
4. 5 signs your retail store needs a makeover – Does your store need a makeover? In this article, Retail Doc Bob Phibbs lists five key questions every retailer must ask to determine if they need to make a change in their store. Go through the list, and if you find yourself saying “yes” to any of the questions, follow his advice and take action.
5. Barnes & Noble should rally around, not retreat from, retail stores – Brand-building expert Denise Lee Yohn, shares an interesting take on how Barnes & Noble can reinvigorate its business. According to her, instead of retreating from stores, the bookseller should find non-traditional ways to reposition its locations and draw more shoppers.
About Francesca Nicasio
Francesca Nicasio is Vend's Retail Expert and Content Strategist. She writes about trends, tips, and other cool things that enable retailers to increase sales, serve customers better, and be more awesome overall. She's also the author of Retail Survival of the Fittest, a free eBook to help retailers future-proof their stores. Connect with her on LinkedIn, Twitter, or Google+.