The so-called “retail apocalypse” may have been debunked, but there’s still no question that the industry is in the midst of profound change. Retailers aren’t just looking for ways to tweak the shopping experience; many seek to reimagine every aspect of how they will interact with consumers.
The founders of Harry’s Razors, Jeff Raider and Andy Katz-Mayfield, were nicknamed “the American internet cowboys” by German media after their $100 million purchase of a razor manufacturing plant in Eisfeld, Germany.
You’re probably wondering… why would anyone spend that kind of money on a razor factory? The founders of Harry’s Razors would, that’s who.
What makes a category manager great? His ability to sign the best deal with suppliers, manage assortment efficiently, quickly change category and product prices, analyze particular activities and forecast future sales, of course!
Along with the fact that the Category Manager is rarely working with a single category, and you’ll see that those specialists are multifunctional octopuses.
Time is a decisive factor.
It doesn’t matter whether you’re a hardline or softline retailer. You’re already aware of the benefits of good inventory management. Quality customer service, theft protection, purchasing and replenishment control… And the list goes on and on…
Today I want to share with you an article on how to prepare your inventory for fluent daily product management and efficient price optimization as well.
About 20 years ago, when Jeff Bezos took Amazon public, he told his shareholders that delivering the best customer experience was his primary objective – even if it came at the short-term expense of shareholder value. And 20 years later, the company has more than lived up to this promise, attributing its multi-billion-dollar success to one thing: prioritizing customer satisfaction. While the devaluation of shareholder returns in favor of customer satisfaction is characteristic – if not cliché – in the tech industry, this rhetoric would be met with considerable resistance in the banking industry. Continue reading “The Epic Lesson Banks Can Learn From Amazon”
In one of previous posts we talked about the pricing rules for small online shops. But some exceptions to the first rule – profitability – were left «behind the scenes». And today we will talk about those cases when there are reasons to sell goods at cost or even at a loss. Continue reading “What Does The Online Store Should Have To Do With «Dead Horse»?”
Nikolay Savin, Competera How to optimise your online store’s UX and get ahead of at least 50% of your competitors.
If you use a retrospective analysis to learn tactics that helped successful retailers build their businesses, you’ll see they focus on the conversion rate improvement. In this article you can find three broken down steps to improve your e-shop conversion rate. Continue reading “The Kingdom Of Abandoned Carts”