Blog

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  • 2 Metrics Used to Evaluate Inventory Performance

  • July 27, 2017
  • Every retailer has their own preferred metrics they use to evaluate the performance of their inventory. However, many aren’t sure of the difference between two important calculations: ROI and Sell Through. Knowing the purpose of each will allow you to make educated business decisions to improve your store’s inventory performance. 1. Sell Through This is the […] VIEW

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  • The Power of Integrations with RICS

  • July 24, 2017
  • “We rolled out an ecommerce platform and we wouldn’t have been able to do it without RICS.”  – Joey Pointer, CEO, Fleet Feet Inc.   At RICS, we support retailers integrating with new solutions to help grow their business. We’ve integrated with trustworthy partners offering e-commerce solutions, payment gateways, gift and loyalty solutions, EDI, Open-to-Buy […] VIEW

  • Webinar Series for Retailers

  • July 19, 2017
  • The retail landscape is changing – don’t get left behind. To be a successful retailer, you must commit to understanding your inventory. According to RMSA’s Senior VP of Client Services, Paul Erickson, savvy retailers have “a thorough understanding of how to actively manage inventory”. So, How can you use data to better manage inventory and […] VIEW

  • How To Increase Cash Flow at Your Retail Store

  • July 17, 2017
  • Do you want to increase cash flow? Your cash flow and profitability depend on inventory productivity (i.e., does it sell or not and how fast). If you can improve this value, you can improve the profitability of your store. So, what can you do to improve your inventory productivity? Analyze product performance As a general rule, […] VIEW

Vince Canning shoes store
  • Customer Spotlight: Vince Canning Shoes and Tootsies Shoes

  • July 12, 2017
  • “Information is money. If you have information, then you can use it to improve your business and increase profit.” – Mark Denkler, Vince Canning Shoes and Tootsies Shoes Data is a key ingredient for the success of your business. But, it doesn’t mean anything until you can analyze it and understand what it’s telling you. […] VIEW

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  • 3 Tips to Host a Profitable Back-to-School Event

  • July 12, 2017
  • It’s almost that time again… all the kids are heading back-to-school in August and you have an opportunity to end summer with a bang by hosting a back-to-school event! Now is the time to start planning. Not sure how to start? Here are 3 tips for hosting a profitable back-to-school event. 1. Promote with a purpose […] VIEW

  • 4 Tips for Better Checkout Design

  • July 6, 2017
  • The checkout is an important part of your store’s flow, and it shouldn’t just be the end of a customer’s shopping experience. How can you make it a better experience for the customer and more profitable for your store? Assess your checkout area using these 4 tips. Make Room – People need counter space for all […] VIEW

  • Training for the Marathon

  • July 5, 2017
  • Training for a marathon or any kind of race takes preparation. The more you prepare in advance, the more successful you will be at completing the marathon and setting a new personal record. The same is true when onboarding to a new Inventory Management and POS system. VIEW

  • What Events Can Help You Draw More July Shoppers?

  • June 30, 2017
  • July is here and summer heat is reaching an all-time high. With the 4th of July happening at the beginning of the month, use it as an opportunity to draw shoppers into your store. Wondering what else you can do this month to reach your customers? Check out our Marketing Calendar for Retailers for inspiration. Independence […] VIEW

Chatterspot
  • Partner Spotlight: Chatterspot

  • June 28, 2017
  • Staying connected to customers through their preferred communication channels (email, text, social, etc.) has become more important than ever in the retail industry. To effectively resonate with, attract, and retain customers, retailers must stay engaged with relevant and consistent marketing content. The businesses that effectively communicate to their customers and target audience will maximize their […] VIEW

Tax Free Weekend 2017
  • Tax Free Weekend 2017

  • June 26, 2017
  • Looking for how you can set up your Tax Free weekend in RICS? Click here.  Is your state hosting a tax holiday this year? With tax free weekends starting at the end of July and going well into August, it’s time for retailers to start planning for the event in your store. Check out our infographic […] VIEW

How to Motivate Your Employees
  • 3 Easy Ways to Motivate Your Employees to Sell More

  • June 23, 2017
  • When it comes to selling inventory, you have to worry about more than just having the right products at the right time. As a retailer, you need to make sure you also have the right people in place to effectively sell your inventory. When employees are slacking or unhappy, it can be reflected in your […] VIEW

  • 3 Ways to Increase Traffic to Your Store

  • June 21, 2017
  • Even though online shopping seems to be growing at a rapid pace, the majority of purchases are still happening in brick-and-mortar stores. Shoppers can’t seem to let go of the ability to physically touch a product before purchasing, and for small and local retailers, that’s good news. But how do you attract these shoppers to […] VIEW

Weekly Retail Update
  • Weekly Retail Update: June 19, 2017

  • June 19, 2017
  • Gen Z Influencing Family Spending According to a new study from NRF and IBM, “Uniquely Gen Z,” 70 percent of Gen Z-ers say they influence their family’s spending on everything from household items to family vacations. Even more interesting, in a survey by InfoScout parents agreed that their children are influencing their purchasing decisions. In […] VIEW

  • Making Decisions

  • June 16, 2017
  • Every day, we make choices from choosing how to spend our days to what we want to eat that day. According to Dr. Joel Hoomans from Roberts Wesleyan College, the average person makes 35,000 decisions each day. Whether if you are a business owner, a corporate executive, or a student, 35,000 decisions can be overwhelming […] VIEW

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Weekly Retail Update
  • Weekly Retail Update: June 12, 2017

  • June 12, 2017
  • Online Shopping Forces Retailers to Alter Trade and Brand Marketing In a new report from Criteo and Kantar Millward Brown, “Trade Marketing in Transition,” ecommerce growth is forcing retailers to rethink how they are budgeting for trade and brand marketing. “Trade marketing is undergoing a profound shift,” said Jonathan Opdyke, president, brand solutions, Criteo. “To […] VIEW

  • Managing an Open-To-Buy Process with RICS

  • June 9, 2017
  • Before beginning the creation process of open-to-buy, it is important to review your Key Performance Indicators and decide on which KPI’s are most important to your business. Many retailers measure their product using Turns, ROI, Gross Profit %, Profit, Net Sales, and others. Once decided, RICS offers many different reports which can be used to […] VIEW

  • Capitalize on In-Store Experience

  • June 7, 2017
  • Technology has armed consumers with apps that compare prices and tools for research and purchasing, but consumers still want to see, touch, and try products before they purchase. Does your store give people a reason to spend their money in-store? Here are some areas to focus: Customer Service One of the singularly most important aspects […] VIEW

Weekly Retail Update
  • Weekly Retail Update: June 5, 2017

  • June 5, 2017
  • While Wages Increase, Retail Employment Decreases According to the Labor Department, hourly earnings for retail workers are up 2.5 percent year-over-year, but retail industry employment is down 8500 jobs in May from April. “Though job growth in the retail industry decelerated in May, employment overall is above what is needed to keep sustained growth in […] VIEW

  • 3 Ways You’re Leaving Yourself Open to Inventory Loss

  • June 2, 2017
  • As a retailer, avoiding inventory shrinkage should be at the top of your list. When inventory is leaving your store unnoticed, you’re not only losing money, but you could have a bigger problem lingering in your store. Check out these three ways you may be leaving yourself open to theft. Your technology is out of […] VIEW

  • What Events Can Help You Draw More June Shoppers?

  • May 31, 2017
  • June is upon us, which means it is officially summer and kids are out of school. You will likely see more people out and about, so you need to start planning the best ways to get them to buy from you and escape the heat. Check out ways to get shoppers into your stores with […] VIEW

Weekly Retail Update
  • Weekly Retail Update: May 29, 2017

  • May 29, 2017
  • Asics Created an Ad That Can Analyze Your Gait Nearly 70% of runners wear the wrong shoe for the gait, according to a new study from the London School of Podiatry. In an attempt to capture some of those runners attention, Asics in Brazil put out an ad that can analyze your gait in local […] VIEW

  • RICS Service Day

  • May 26, 2017
  • The RICS team went to Gleaners Food Bank this week to volunteer and had a great time. We split into two shifts and spent the morning scanning and sorting food. We will feed 800 people with the amount of food we scanned. In the afternoon, the second group packed 400 boxes of food. It was a […] VIEW

Inventory Management
  • How to Optimize Your Inventory in Your Multi-Store Business

  • May 24, 2017
  • When you’re managing more than one store, it can be difficult to stay on top of how your inventory is doing across locations. Optimizing your inventory for each store and for your business as a whole is an important part of creating a business model that makes you money. So when it comes to optimizing […] VIEW

Weekly Retail Update
  • Weekly Retail Update: May 22, 2017

  • May 22, 2017
  • Foot Locker Sees Start Slow in Q1 After high expectations for a booming first quarter, Finish Line reported weaker earnings than expected. The athletic and apparel retailer reported a net income of $180 million for the first quarter, $11 million shy of the first quarter in 2016. “The first quarter was one of our most profitable […] VIEW

  • Free Webinar: Exploit In-Store Data

  • May 19, 2017
  • Customer loyalty is a hot topic among retailers. Keeping customers coming back to your store, and staying loyal to your brand, ensures sales for your stores. One point of interest for shoppers when it comes to staying loyal to a brand is their in-store experience. Customer shopping habits are constantly changing, but shoppers are still […] VIEW

  • Moving to the Cloud

  • May 17, 2017
  • “The cloud” is a term that is thrown around regularly these days and it seems that all technology is transitioning that way. You might be wondering, “what exactly does the cloud do and how can it help me?” Simply put, the cloud is place where you can store data and programs over the internet, instead […] VIEW

Weekly Retail Update
  • Weekly Retail Update: May 15, 2017

  • May 15, 2017
  • Macy’s and Kohl’s are Next Big Box Retailers to Take Hits Traditional big box retailers are facing more bad news in the retail world. Dillard’s, Macy’s, and Kohl’s are among the latest to take hits in their sales, all reporting lower sales than expected in the last three months. Even with the hit, Macy’s new […] VIEW