In no particular order of importance, we’ve captured below a variety of key statistics (and their sources) that every retail store owner should know. Share these with your management, marketing team, and sales associates as part of training, onboarding, and strategic planning. These data points illustrate retailers’ important role in delivering
Leadership & Management
HFA Chief HR Strategist, Tracy Jackson, gives you simple steps to ensure you are building a solid bench of leaders for your succession planning.
Business decisions must be based on data to win in retail. Your business data can make you a better leader, marketer, buyer, salesperson, decision maker, and problem solver. You miss opportunities to better understand your strengths and weaknesses by overlooking this vital tool. This oversight can lead to costly and
As you are looking to improve your profit margins, you should look beyond your core products. Selling add-on products or upselling often proves profitable, yet many retail salespeople fail to take advantage of it. Add-on sales help retailers sell a more comprehensive range of products beyond the initial purchase the
As a marketer and ad manager focused on hooking that shiny new customer, I didn’t consider my existing customers. I was so enthralled with developing effective creative collateral, making clever ad buys, and planning the calendar out so it would coincide with the merchandise I was bringing that I lost
Submitted by Taylor Ganz, Profitability Consulting Group These past two years have been particularly challenging for the home furnishings industry. Retailers have worked too hard during the last two years to raise profit margins to where they should have been and where they need to be. If you are like
A fluid cash flow is the lifeblood of any business. Especially as we see an economic downturn approach, it will be more critical to ensure you are continuously improving your cash flow situation. Here are some actions you can take to generate more cash in your home furnishings retail business.
They say that public speaking is the #1 fear of most people, but I’ll submit that as a business leader who is required to speak to a team or large group, it’s just something that you need to deal with effectively. Here are some observations to help you develop your
As a young business leader, investing in your development is essential. Leadership development involves more than just acquiring new skills; it also requires a commitment to continuous learning. One way to develop the skills needed to be an effective leader is by finding a mentor who can provide guidance and
Joe Cudall, Partner and Senior Consultant with LeadShift offers you the building blocks to help create a solid leadership team for your business in this HFA Quick Click Solutions video. LeadShift helps build enlightened leaders and resilient teams for better performance to build the organizations they envision. Discover more leadership
You might also like
Today’s hyper-connected consumers have high expectations but a low tolerance for disappointment, making a seamless and unified omnichannel experience critical.
Ziv Fass, Co-Founder & CEO of Package.AI explains how automating your customer engagement and fulfillment process will ensure your business
Riskified, one of HFA’s newest members, empowers businesses to realize the full eCommerce potential by making it safe, accessible, and
A retail business’ success relies on the stock it can carry. To make a profit, you must sell products; as
Build Back Better Congressional Democrats and the White House spent the last several months of 2021 working to enact President
More From The HFA
Congress and the Trump administration are preparing another Covid-19 relief package. The Home Furnishings Association’s Washington representative, Chris Andresen, and government relations liaison Doug Clark
Everyone is trying to figure out what the “new normal” will look like when your stores reopen. What will recovery look like to you and