Sell More! Blog

10 Retail industry trends and statistics for long-term growth.

Sometimes it feels like retail industry trends change faster than we can possibly keep up with. From technology and communication revolutions to cultural and generational shifts, there are innumerable factors influencing the consumer mindset — which of course impacts retailers. But with every change comes the opportunity to evolve and to create new paradigms. Innovative ideas emerge and we adjust using new tools and techniques. We've compiled 10 retail statistics that start to tell the story and might give you food for thought - and optimism for the future of retail.

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Topics: Retail Insight, Retail Trends, Business of Retail

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5 Customer data points to collect in your POS CRM.

A modern point of sale system becomes truly effective when it's used to collect all the powerful data and customer intelligence possible to help you build customer engagement and loyalty. In today's cloud-based POS software, like Springboard Retail, you have the ability to create unlimited custom fields, filter and produce powerful reports and integrate with smart marketing and loyalty platforms. Retailers have more opportunity than ever to strike a mutually beneficial bargain with customers; ask them for specific information and in return deliver thoughtful and personalized events, offers and promotions.

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Topics: Retail Tips & Techniques, Customer Relationship Management, loyalty

How to Finance a New Retail Location with a Business Loan

Your retail business has been so successful that you’re considering opening a new location—congratulations! This is an exciting moment for a small business owner, but some of the thrill can dissolve with the prospect of finding the cash to get this next venture off the ground. Fear not! There are fast and simple debt financing options available to you so that you can focus on what matters most—your business.

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Topics: Multi-channel stores, Business of Retail

Springboard Retail Case Study:  Porter's

In the years since they first opened their doors in 1915, Porter’s Craft and Frame, a family-owned retailer in Southeast Idaho, evolved from a small bookshop into a multi-store, retail enterprise processing over 200K transactions a year. Customers shop everything from home décor to baking goods to art supplies and framing. What enables the store’s continuing success? In the words of Porter’s General Manager Alex Nielsen, it's a willingness to, “constantly adapt in order to continue inspiring our customers.” Learn more about their story.

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Topics: Multi-channel stores, Retail Management Solutions, Our Customers, Case Study

Use your retail CRM to build loyalty using inbound marketing concepts.

We all know that customers are innundated with promotional offers and product emails trying desperately to capture their attention. Day in, day out, they are bombarded. Couple that with the fact that marketing is getting increasingly sophisticated and personalized (check out our study on apparel personalization and customer loyalty); it's becoming very hard to compete for customer's attention. It can be overwhelming for small to mid-size retailers when you don't have the budget or access to sophisticated marketing resources. But here's the thing, with a customer oriented strategy and retail crm software that can support and track your efforts, you can be as effective as the big guys.

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Topics: Retail Insight, Retail Tips & Techniques, Customer Relationship Management

How to train retail store employees to boost retail loyalty!

You’ve invested in marketing, advertising, and curb appeal, and your traffic counters are showing that it’s paid off. Arguably the most difficult part is over: you’ve gotten the customer in the door. Now, how do you keep them there? According to our research, although retail loyalty programs are a great engagement tool, the best way to win repeat business? Stellar customer service!

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Topics: Retail Management Solutions, Retail Tips & Techniques, Business of Retail

Survey shows retail loyalty programs still a top customer preference.

Lately, we've read alot about the importance of 'the customer experience' to engage and build brand loyalty.  As well as how personalization is a key means to this end. This trend has been well documented and generally supports the realities of the current retail landscape. When you can buy virtually anything online today, why shop in store? Personalization is one way of cultivating long-term relationships with customers but we wanted to find out what kinds of personalization customers respond to and how it ranks when compared with other types in store experiences. So we asked!

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Topics: Retail Insight, Retail Trends, Customer Relationship Management, Retail Report

Retail Tips: Navigating Market as a First Time Buyer!

As a first time retail buyer, walking into retail buying market can be extremely daunting. With hundreds of vendors, thousands of products and a finite timeline, just showing up to pick out your merchandise is not an option. It's very easy to become overwhelmed, distracted and impulsive! It's essential to prepare just like the pros; and this begins weeks ahead of time.

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Topics: Retail Buying, Retail Tips & Techniques

Retail hiring best practices start with asking the right questions.

Retail today is über competitive, building a strong team that can sell strategically and use all the tools at hand is essential; conscious staffing is an integral factor to the bottom line of a successful retail company. Understanding the perspective of your candidates (whether full or part-time) can help you dial in the right personality and uncover someone who will be able to engage your customers. We talked to some experts and compiled these 6 questions that will help kick-start your interviews and take your retail management skills up a notch.

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Topics: Retail Tips & Techniques, Retail Resources, Business of Retail

Springboard Retail Case Study:  XCVI

XCVI began as an apparel wholesaler in 1996 (XCVI) and has grown into a multi-store, omni-channel, national fashion brand. As they expanded, the XCVI team needed to find a retail management system that could provide real-time data, robust functionality, and the flexibility to manage sales, inventory and customer data across their expanding enterprise. They recognized their mobile POS and inventory management system was the critical foundation to scale their growing multi-channel business.

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Topics: Multi-channel stores, Business of Retail, Case Study

How to create a retail loyalty program that engages all generations.

We're living in unique times. Our retail customer base is composed of three distinct generations that have vastly different experiences and points of view. From Baby Boomers, who grew up in a world without mobile technology, to Millennials, who cannot conceive of a world without it, to the betwixt and between Gen Xers. How does this reality impact a retailer's marketing strategy? And what's the best way to address it? Let's take a quick look at each generation, their preferences and try to understand how to start building retail loyalty programs that can accommodate all generations.

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Topics: Retail Insight, Retail Management Solutions, Retail Tips & Techniques, Customer Relationship Management, Business of Retail

Best practices for successful retail store inventory management.

Inventory management is an essential part of running a retail store. Too much stock can lead to markdowns that can kill your margins but just as bad is not having enough merchandise resulting in lost sales, low customer satisfaction, and even a fall in customer loyalty. A best practice is to take a full store inventory count each quarter or season while a partial inventory count is recommended weekly or monthly. Use your point of sale inventory management software to help you confirm what is selling, what you may want to return to vendors or what to place on sale.

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Topics: Inventory Management, POS Software, Springboard Retail Features, Retail Tips & Techniques

Springboard Retail Case Study:  MODE

MODE, an apparel retailer based in the midwest, sells high-end product at discounted prices. The concept, a merging of outlet pricing with boutique sensibility, was highly successful and with many clamoring for expansion, owners Ciara and Jim Stockeland, decided to franchise. Since 2007 they have grown to 8 stores and are the epitome of strategic, growth-oriented retailers. As they expanded they realized the need for a reliable cloud-POS and Retail Management platform that would be easy for franchisors to implement. After being oversold by Revel, MODE’s team was suffering through a failing implementation when Ciara found Springboard Retail and decided to make the switch.

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Topics: Multi-channel stores, Case Study