There are five elements of a pricing strategy necessary to remain competitive: 1. Competitive variable pricing 2. A price-matching policy 3. A robust price-shopping routine 4. Innovative use of technology and 5. Good retailing practices. All of these tactics are …
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Hardware Retailing magazine’s March 2015 issue features an article focused on the changes in pricing strategies over the years. The story also discusses how retailers can stay competitive today as variable pricing evolves and dynamic pricing spreads. The full story can be found here. The …
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To download a PDF of this story, click here. Visit hardwareretailing.com/2015pricing-study to view the NRHA’s 2015 State of Pricing Study. Whether you like it or not, today’s consumers have access to detailed pricing information for every item in your store. In fact, in some cases, …
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Amazon’s plans to make deliveries by drone may come to a standstill due to recently proposed federal laws. If proposed legislation passes, Amazon might not be able to launch its Prime Air service in the U.S., according to an article in Fortune. Amazon planned to use …
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Students attending the North American Retail Hardware Association’s fall 2014 Retail Management Certification Program are implementing new procedures and tackling a major business improvement project as required for the six-month, college-level course conducted in Indianapolis. Student Retail Management Certification Program project topics …
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Retailers who focus mainly on increasing customer counts and average ticket sizes are missing a key metric: conversion rate. Conversion rate is the ratio of people who enter a store compared to how many actually make a purchase. Only 35 percent of retailers …
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Car salesmen are some of the best in the business. Each day they use effective sales techniques and provide their clients with excellent customer service. Below are 10 lessons you can learn from car salesmen and how you can apply their techniques …
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Gone are the days of retail employee training via VHS tapes and three-ring binder manuals – or are they? Many retailers are still using old training methods due to a lack of options, but there are now alternative training materials available. …
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