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Study Why Customers Browse But Don’t Buy

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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10 Retail Lessons From a Car Salesman

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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Interactive Training Better Than Old Employee Handbooks

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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10 Retailing Lessons from Starbucks

A look at Starbucks’ business offers lessons on retailing, such as how to effectively run a company, treat customers and manage employees. The coffee shop powerhouse is present in over 65 countries, operates more than 21,000 stores and experienced 11 percent sales growth …

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Have You Mastered These Business Principles? Take This Quiz

The “Retailing 101: An Overview” story in the February 2015 issue of Hardware Retailing discussed what retailers need to know about the marketing, finance, operations and human resources aspects of their business. To read the full story, click here. Once …

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Retailing 101: An Overview

To download a PDF of this story, click here, and visit hardwareretailing.com/retailing-101 to take a quiz and determine how much you know about marketing, operations, finances and human resources. What Does Your Report Card Look Like? By Liz Lichtenberger, llichtenberger@nrha.org and Kate Klein, kklein@nrha.org When was the last time …

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Lowe’s Managers Focus on Spanish Immersion

Imagine going to summer camp but not being allowed to speak your primary language. That experience offers the perfect setting to learn a different language, according to Lowe’s. For the past five years, employees from Lowe’s distribution centers in the U.S. have gained unique, one-week training through an immersion program. …

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What’s In Your Plan?: What a Strategic Plan Is, and Why Your Business Needs One

To download a PDF of this story click here and visit hardwareretailing.com/strategic-planning to learn more about the components of a strategic plan and see some examples for each of the components that make up a plan. Frank Strano has some …

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