strategy

5 Tips for Mastering Your Wholesale

5 Tips for Mastering Your Wholesale

Retail isn’t really about prices, it’s about profits. Adjusting prices is definitely one way to address profits, but the most successful merchants also ask, “what about the wholesale cost of my incoming inventory?”…

The Magic of Loss Leaders

The Magic of Loss Leaders

Ever wonder how electronics stores on Black Friday make money selling a TV for $50 less than what they paid for it? Here’s a hint: They don’t—not on the TV, anyway…

3 Steps To A Better Corporate Culture

3 Steps To A Better Corporate Culture

On the surface, the most successful small businesses usually aren’t that different from the competition. They sell the same products at similar prices, but when you examine success, the one thing that usually sets them apart is their culture….

Find Your Sound: 3 Tips for Building a Loyal Customer Following

Find Your Sound: 3 Tips for Building a Loyal Customer Following

How does an Icelandic rock band (who once released an album sung entirely in gibberish) win multiple awards and go on to be one of the most consistent, successful bands in alternative music worldwide? It sounds improbable. In fact, it sounds downright strange. But that’s kind of their secret…

4 Strategies for Competing with the Juggernauts

4 Strategies for Competing with the Juggernauts

Brick-and-Mortar is changing faster than most stores can handle. Competition from giants like Amazon and Ebay have been humbling even the most iconic brands. And yet, small and medium local businesses are still competing more vigorously than ever before...

3 Simple Strategies for Employee Accountability

3 Simple Strategies for Employee Accountability

It’s that time of year again! The days are getting shorter, the air is getting colder, and the in-laws are hunting for bargains on airfare. The holidays are upon us and that means it’s retail’s time to shine! - or at least brace. Here are a few stocking-stuffers to help you maintain firm control even during the busiest times...

3 Ways Your Inventory Is Trying to Get Your Attention

3 Ways Your Inventory Is Trying to Get Your Attention

We all get distracted sometimes. It’s natural, especially in the hustle and bustle of retail. Letting the occasional distraction turn into a pattern is where problems start to arise. Fortunately, you can use your inventory as a barometer for your business and take concrete steps to make sure the occasional distraction doesn’t end up sinking the ship...

The Psychologist's 3 Tips for Pricing

The Psychologist's 3 Tips for Pricing

There is no part of inventory management that's more subject to mind games than pricing.  The way you set your prices dictates a lot about the consumer’s behavior— whether they realize it or not...

The Art of Inventory Optimization, Part 3: Life Optimized

The Art of Inventory Optimization, Part 3: Life Optimized

Any parent will tell you that doing a little bit of work as you go is a far better approach than letting things pile up...

The Art of Inventory Optimization, Part 2: Stock Levels

The Art of Inventory Optimization, Part 2: Stock Levels

“We’re out of stock.” Four words every customer hates to hear. And if customers hate to hear them, retailers downright loathe saying them. It means a lost sale and a disappointed customer, or (as your profit report will tell you) money lost now and money lost later...

The Art of Inventory Optimization, Part 1: A/B Testing

The Art of Inventory Optimization, Part 1: A/B Testing

Inventory optimization can be challenging at times. Even seasoned Purchasing Managers can struggle with deciding what products to order, but there’s a proven tactic that’s helping everyone from software designers to laundry detergent manufacturers. 

The Myths of Small Business Growth

The Myths of Small Business Growth

Here at Shopventory, we work with thousands of merchants all over the globe, so we figured it's about time to address the myths about small-business growth and offer some of our own insights into the best ways to grow. 

Inside Job: 5 Steps to Detecting (and Preventing) Employee Theft

One of the sad realities of human life is that people do bad things. What leads to that fact and its various philosophical implications is something we'll leave to better minds to analyze. But for the thousands of merchants using Shopventory, this means having to deal with the unpleasant subject of both Customer and Employee theft...