Blog

RICS_Technology
  • Technology Overload

  • February 24, 2017
  • We live in a state of technology overload. Everywhere we turn, there is always some new technology that is developed to enhance the way we live and interact with each other. Whether it’s Facebook to keep us connected with our network or the Apple Watch tracking our physical activity. When it comes down to it, […] VIEW

5 Web Design Tips for Small Retailers
  • Understanding Your KPIs: Turnover

  • February 22, 2017
  • As a business owner, key performance indicators (KPIs) are incredibly important in tracking the success of your retail business. Identifying and using those KPIs can help you understand how your buying, inventory, and selling strategies are affecting your business. If you’re using an advanced POS and inventory management system, you have access to all the […] VIEW

Weekly Retail Update
  • Weekly Retail Update: February 20, 2017

  • February 20, 2017
  • The First ‘Digitally Native’ Generation Shops in Store  According to a new study from IBM and the National Retail Federation, 67% of Gen Z said they shop in brick-and-mortar stores “most of the time.” While 31% said their shopping habits took them in-store some of the time. The study titled “Uniquely Gen Z” also unveiled […] VIEW

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  • Understanding Your KPIs: Sell-Through Percentage

  • February 17, 2017
  • Understanding your key performance indicators (KPIs) is a crucial part of running a successful and profitable business. If you’re using an advanced POS and inventory management system, you have access to a lot of data that can help you determine how effective your strategies are for reaching your business goals. With all of the data […] VIEW

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  • Bunker Chili Cook-Off 2017

  • February 15, 2017
  • We recently held our 6th annual Bunker Chili Cook-Off and decided to open it up to soups and stews as well! With two categories, we had the taste testers vote for their favorite chili and favorite soup/stew. There were many delicious options, with 5 chilis in the running and 2 soups! Congratulations to Patrick Miller, […] VIEW

Weekly Retail Update
  • Weekly Retail Update: February 13, 2017

  • February 13, 2017
  • NRF’s Economic Forecast Mostly Positive  According to the National Retail Federation’s economic forecast for 2017, retail sales look positive but potential legislations could pose a threat. They project that retail sales will grow between 3.7% and 4.2% over 2016, which is in line with last year’s increase of 3.8 percent. The NRF noted that potential […] VIEW

5 Web Design Tips for Small Retailers
  • Understanding Your KPIs: ROI

  • February 10, 2017
  • As a retailer, you know how important your key performance indicators (KPIs) can be in helping you determine if your business is having a successful and profitable year. If you’re using an advanced POS and inventory management system, you have access to a lot of data that can help you determine just how well your business […] VIEW

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  • Sharpening Your Brand

  • February 8, 2017
  • A lot of small to medium-sized retailers don’t put enough importance on their brand. A brand is not just a logo and colors. Yes, it includes the visual aspect of a business, but also the messaging, customer service, and the intangible perceptions of a business. Few recognize the impact or are too preoccupied to worry […] VIEW

Weekly Retail Update
  • Weekly Retail Update: February 6, 2017

  • February 6, 2017
  • Amazon Continues to Influence Shoppers’ Expectations  A new report from PowerReviews, which surveyed more than 1,000 consumers, shows that Amazon is still the “go-to” retailer for many shoppers. Shoppers identified variety of products, free shipping, and volume of customer reviews among the top reasons they are attracted to the retail giant. “Our survey found that […] VIEW

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  • First Weeks at RICS

  • February 3, 2017
  • Over the past few weeks, we have welcomed two new members to the Product team here at RICS. Meet Jon and Naush and learn what they are most excited about for their future working here. Jon McCain, Software Engineer: My first week at RICS has been one of relaxation, fun, and drowning by the fire hose of knowledge […] VIEW

Shopping
  • What Events Can Help You Draw More February Shoppers?

  • February 1, 2017
  • It is already the second month of the year! There’s a lot going on in February, so use these events to draw customers into your store to increase sales and loyalty. Groundhog Day Although it isn’t necessarily a traditional holiday, Groundhog Day (February 2nd) could be a good excuse to throw a party in your store! […] VIEW

Weekly Retail Update
  • Weekly Retail Update: January 30, 2017

  • January 30, 2017
  • 2016 Deemed the Year of Promotions   According to the DynamicAction Retail Index: 2016 Year-in-Review and 2017 Outlook, 2016 was a year filled with promotions. The study analyzed more than $9 billion in transactions globally and found that 44% of all orders were sold on promotion. On top of that, 67% of all orders were […] VIEW

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  • Why Should I Look for a New POS System?

  • January 27, 2017
  • Why do we consider changing anything? Typically, there are three reasons we consider change: 1. Things don’t work like they used to. 2. There must be a better way to do what I’m doing. 3. I want to do something different. What does this mean for my business? Specifically, what does this mean for my […] VIEW

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  • FN PLATFORM 2017

  • January 25, 2017
  • If you’re a footwear retailer, chances are you’ve heard of FN PLATFORM in Las Vegas. It is the largest shoe show in the nation and a part of MAGIC, the world’s largest fashion marketplace. This year, the show is Tuesday, February 21-Thursday, February 23rd. During the trade show, there are educational seminars that cover a range […] VIEW

Weekly Retail Update
  • Weekly Retail Update: January 23, 2017

  • January 23, 2017
  • Online Shoppers Not Always Ready to Buy   A new study from Episerver, “Reimaging Commerce,” says that 92% of shoppers’ first visits to websites don’t end in a sale. Even if a shopper visits a website with the intent of making a purchase, one third of shoppers never complete the sales. Also, 98% of consumers […] VIEW

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  • Using Data to Optimize Your Markdown Strategy

  • January 20, 2017
  • Your inventory is your store’s largest asset, but it could end up being your worst expense. No seller likes to markdown full-price products. But the reality is, your inventory only has a 60-90-day shelf-life, meaning if you don’t turn your inventory in that 3-month period, it’s probably costing you money. So how can you look […] VIEW

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  • Stand Out in 2017

  • January 18, 2017
  • Last year, my girlfriend Lydia decided to participate in the Indianapolis Mini-Marathon 500 Festival. Since it was her first half-marathon, she had no idea which shoes were best suited for her feet, what gear she might need for race conditions, or even the best accessory to hold her iPhone. So, where does a millennial like […] VIEW

Weekly Retail Update
  • Weekly Retail Update: January 16, 2017

  • January 16, 2017
  • Discover Expands Digital Payments for Cardholders A new partnership between Discover and PayPal is allowing U.S.-based customers more access and security to payment options at the point of sale. The agreement allows PayPal customers to use Discover for contactless-enabled merchants, while Discover cardholders can use their Cashback Bonus to pay merchants who accept PayPal. “Discover […] VIEW

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  • Use Your Store for More Than Transactions

  • January 13, 2017
  • As you are thinking about new initiatives you want to implement in 2017, have you considered taking advantage of your store space for more than just selling your inventory? It is clear that shopping is taking a turn towards convenience (ecommerce, same-day delivery, curbside pickup) and interactive experiences. How can you leverage your store to create experiences […] VIEW

Shopping
  • Turn Your Holiday Shoppers into Loyal Customers

  • January 11, 2017
  • Now that we’re a full week into 2017, it’s time to start thinking about how you can capitalize on all the new customers that came into your store through the holiday season. It’s no secret that loyal shoppers spend more (nearly 70% to be exact) than one-time shoppers. Not only that, but acquiring new customers […] VIEW

Weekly Retail Update
  • Weekly Retail Update: January 9, 2017

  • January 9, 2017
  • 2016 Retail Hiring May Indicate Possible Retail Recession   According to Business Insider, hiring for the holiday season for retailers was at its lowest since the recession. Hiring from the retail industry accounted for just 41.4% during the holiday season, the lowest it’s been since 2009 and could indicate retailers have a tough road ahead […] VIEW

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  • What Events Can Help You Draw More January Shoppers?

  • January 6, 2017
  • Now that 2017 is in full swing, what plans are you making for your store this year? Make sure to check out the 2017 Retail Trends Report to learn more about what you can expect this year, including increased customer expectations for their online and in-store experience. When thinking about increasing your sales this year, you […] VIEW

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  • How to Turn Returns into Sales After the Holidays

  • January 4, 2017
  • Now that the holidays are over and people are getting back into the swing of things, your store is bound to see some returns or exchanges from holiday gifts. But how do you turn these returns or exchanges into additional sales for your store? Check out these three tips for turning customer returns into dollars […] VIEW

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  • Kicking Off the New Year with Data

  • January 2, 2017
  • 2017 is here, which means it’s a great opportunity to reassess the state of your business. ROI is a term you probably hear a lot and maybe wish you had a better pulse on when it comes to your own store. Measuring return on investment gives you the insight to know exactly how your business […] VIEW

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  • 2017 Retail Trends Report

  • December 21, 2016
  • As 2017 is quickly approaching, it’s important for retailers to look at the trends that will take shape in the New Year. Check out just a few of the hot trends you can expect to continue to grow in 2017. Online spending is skyrocketing While in-store spending remains steady, most retail growth is coming from […] VIEW

Weekly Retail Update
  • Weekly Retail Update: December 19, 2016

  • December 19, 2016
  • Retail Industry Expected to Stay Steady in 2017  According to the Moody’s 2017 Outlook, the retail industry will remain steady in 2017. They expect operating income to grow between 4 and 5 percent and sales to grow between 3 to 4 percent. The apparel sector expects to have a 6 to 8 percent growth in […] VIEW

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  • 3 Tips for Marketing Your Store on Instagram

  • December 16, 2016
  • As mobile and social commerce are taking off, it’s becoming increasingly important to connect with your customers outside of the four walls of your store. Facebook, Twitter, Pinterest, and Instagram offer different ways to connect with your audience and marketing your store. You don’t have to use all the channels to be successful at social […] VIEW

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  • 3 Simple Ways to Leave a Lasting Impression on Customers

  • December 14, 2016
  • As retailers prepare to navigate shopper expectations in 2017, it’s no secret that winning customer loyalty is a top priority. It costs retailers 5-10 times more to bring in a new customer than it does to sell to an existing one. Not only that, but returning customers spend 67% more on average than first-time visitors. […] VIEW

Weekly Retail Update
  • Weekly Retail Update: December 12, 2016

  • December 12, 2016
  • Online Billion Dollar Spending Days the New Norm   According to ComScore, $38 billion in online sales have occurred this holiday season-to-date. That’s a 12% increase over the same timeframe last year and online shopping growth shows no sign of stopping. “The key shopping days of Thanksgiving, Black Friday and Cyber Monday all experienced strong […] VIEW

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  • Enterprise Risk Management

  • December 9, 2016
  • Is your retail operation prepared to manage and mitigate business risk? “All we really know is the past, but what really matters is the future.” – John F. Levy Following a process to manage your business risk is simple but takes time to establish and discipline to follow. Here is a framework to consider when […] VIEW