Most big brands have what is known as a flagship store, usually in London, and many of the biggest retail brands have several spread across London and other major cities. Boots, for example, considers 15 of its branches to be flagships. Flagships tend to be in highly visible areas where lots of shoppers go, such as on Oxford Street, where most UK high street fashion retailers have flagship stores, and tend to be large, flashy, and have products and ranges that aren't available in the regular branches.
Starting your own retail business can definitely be a very lucrative career idea with plenty of room for growth, earning potential, and business expansion. When you choose to go into retail, there are many different options that you can choose from – not only when it comes to picking the type of products and services that you are going to sell, but also how you sell them, whether that be in a physical store or on an e-commerce site.
Are you a retailer who believes you could be running your company in a much more efficient manner? This is probably the case for most retailers, because in many cases, time, money and effort are needlessly wasted. Below are some of the ways you can make your retail business more efficient.
It’s that time of year again when shops around the UK begin bracing for the busiest season of the year. Having borrowed the Black Friday tradition from our friends across the pond, that leaves less than a month and a half to gear up to handle all the business that starts with those rock bottom bargains of Black Friday and ends with Boxing Day as everything that doesn’t fit, doesn’t work or isn’t wanted begins trickling back to the shops.
As a nation we love to shop. The retail industry thrives all year long with constant fashion trends updating, the latest beauty hack or the need for an freshen up on furniture. We even dedicate whole days just to shop, travelling miles to explore a new shopping centre full of different products. It is these shopping centres and cities that hold the biggest strain on customer service.
In an economy where personalized marketing is becoming increasingly important, beacons may be the breakthrough brick-and-mortar retailers need. Thirty-eight percent of companies plan to add beacon marketing technology over the next three years, a 224 percent increase from previous projections, according to a Boston Retail Partners report.
In order to ensure your specialist clothing store will be a success, you need to market it to the masses, just as you would need to market any other type of business. But the world of retail is quite different from other industries, so you may face challenges that you were not fully prepared for. If you run your own retail clothing shop, keep reading to learn a few helpful tips on how you can successfully market it and garner new attention from customers.
We all know about wedding season – the period through spring and summer when most people plan their weddings due to the nicer weather – but did you know that in retail terms there is also an 'engagement season'? In fact, there is. Nobody knows exactly when it became a term, but people began to notice that most engagements took place in the period between Thanksgiving and Valentine's Day, so this is now, in retail terms, the time when engagement rings are pushed.
Of course, people can get engaged at any time of year, and there is an expectation that people simply wait until 'the time is right' to propose, so why is engagement season a thing?
The retail sector is often misunderstood, as many people believe that it is a cut-throat and competitive business where everyone is competing for the top level sales position. But in reality, retail is one of the biggest industries practiced in team morale. Team work is a vital attribute to the success of everyone in the company, without a cohesive team, the entire stack of cards can come tumbling down. If you are a manager or team leader in a retail establishment, brick-and-mortar or online, it is important that you understand the importance of building a team.
Developers at IBM Research have for the first time demonstrated the ability to store 3 bits per cell by leveraging advancements in a new type of memory technology called phase-change memory (PCM). This breakthrough means that PCM could become the dominant chip type in the near future, replacing the current best sellers at leading memory outlets like Offtek. Surprisingly, the team at IBM didn't just prove that 3 bits per cell is possible, they also tested the chip under high temperatures and found that it still ran reliably even after millions of write cycles.
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