Starting a retail business may be rewarding and successful despite the challenges. It may be difficult to choose the retail business that would work best for you given the huge range of options available. We’ll discuss the types of retail business models in this post and offer some advice, although choosing which one is best…
Category: retail
15 Tips for Independent Retailers to Remain Competitive
Editor’s note: This post was originally published in July 2017 and has been completely revamped and updated in June 2022 for accuracy and comprehensiveness. It’s that time of the year again when independent retailers celebrate #indieretail during Independent Retailer Month. Customers across the world are encouraged to shop locally to support their community and create…
“Out of Stock”: 3 Inventory Management Horror Stories You Need to Learn From
Inventory management problems are no theoretical issue. In fact, it’s still with us in 2022. Let me share an example: Earlier this year, I was shopping for spinach at one of the larger supermarkets in my neighborhood in Toronto. The only options were salad greens… however, like Popeye, I prefer spinach! I ended up tracking…
8 Easy Cyber Monday Tips for Your Business (2022)
The holiday season is quickly approaching and Cyber Monday is just around the corner. On Cyber Monday in 2021, U.S. consumers spent nearly $10.7 billion according to Adobe Analytics. Experts are saying that won’t be any records in 2022 and eCommerce spending is even expected to go down for the first time in years. So,…
From Physical Retail To Ecommerce: Integrating Great Online Tactics
Editor’s note: This post was orginally published in October 2017 and was updated in June 2022 for accuracy and comprehensiveness This is a guest post by guest contributor Mitch Pazanski. Shopping at traditional brick-and-mortar stores might be a lot of fun. Shopping online though can be far more convenient. When we’re slumped on the sofa…
How To Sell And Purchase On Consignment With Megaventory
Editor’s Note: This blog post was originally published in September 2017 and has been fully updated and improved in August 2023 to be comprehensive and easily understood. Selling on consignment is a useful arrangement that allows a supplier and usually a retailer to create a “win-win” situation, where they both share part of the risk…
Simplify Invoicing and Inventory for Your Multiple Companies: Unlock Powerful Accounting Software in One Account
Editor’s Note: This blog post was originally published in August 2017 and has been fully updated and improved in October 2024 to be comprehensive and easily understood. If you are already using Megaventory or even if you just have a business with more than one employee, you may be familiar with the need to restrict…
How to Boost Sales by Fostering Client Loyalty and Trust
Editor’s Note: This blog post was originally published in June 2017 and has been completely revamped and updated in April 2023 for better understanding and comprehensiveness. As an online e-commerce business owner, you always need to increase sales. You also need to know how to build customer trust and loyalty to increase your credibility with…
25 Of The Best SaaS Tools for Retailers
Editor’s note: This post was originally published by a guest author in July 2017 and has been completely revamped and updated in July 2022 by us for accuracy and comprehensiveness. According to a 2016 study, more than 50% of consumers state they purchase more on the web than from physical stores. Due to this rapid…
Reasons Why Retailers are Moving Towards Inventory Management Software
In retail, inventory essentially is the business. Without properly understanding what’s on hand, how it’s performing, and what impact it has on the bottom line, good luck staying profitable. This is doubly true for the fiercely competitive world of SMB retailers. With the advent of the digital revolution, inventory management software for retail shops has become incredibly…