Blog

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

  • The Importance of Planning

  • May 12, 2017
  • One of my favorite days at RICS is when we have customers and partners visit the office. For the RICS team, it gives us the opportunity reflect on the progress we’ve made as an organization and, more importantly, the impact we’ve made on our customers. The most recent visit we had was with our partner […] VIEW

  • Understanding and Using Data to Increase Profits: Free Webinar

  • May 10, 2017
  • Data has become instrumental in running a successful business. When you use your data to forecast, plan markdown strategies, and analyze business results,  you’re able to make a positive impact on your bottom line. But many retailers are faced with uncertainty when it comes to understanding their data. Whether they don’t have the right technology […] VIEW

Weekly Retail Update
  • Weekly Retail Update: May 8, 2017

  • May 8, 2017
  • Retailers Take Steps to Compete with ‘Amazon Effect’ According to the “2016 Home Delivery and Final Mile Services Report,” from AlixPartners, 75% of online shoppers consider free shipping a huge benefit when it comes to making purchases online. Many retailers struggle to keep up with the costs associated with free shipping, but many are taking […] VIEW

Mentorship
  • How Are Your Employees Performing?

  • May 5, 2017
  • As a retailer, you are most focused on how your inventory is performing, as you should be. But another important metric you should be tracking is employee performance. You may not realize the impact they have on your overall sales. When you have the proper technology in place, this isn’t a metric you have to […] VIEW

Weekly Retail Update
  • Weekly Retail Update: May 1, 2017

  • May 1, 2017
  • Only 61% of Customers Think Brands Understand their Needs According to research from Talend, a provider of cloud and big data integration software, 61% of customers think that brands actually understand their needs, compared to the 88% of companies that believe their investments are helping them understand customer needs. This is a gap that costs […] VIEW

  • What Events Can Help You Draw More May Shoppers?

  • April 28, 2017
  • The month of May is among us and people are getting more and more excited for summer and warmer weather to arrive. Find out what holidays and events are happening this month and how you can use them to your advantage! Cinco de Mayo As you probably know, Cinco de Mayo is on Friday, May […] VIEW

  • 3 Tips for Hosting a Spring Event

  • April 26, 2017
  • The weather is finally nicer, it is staying lighter longer, and everyone is getting outside to enjoy the warmer temperatures. Now is also the time of year your customers do their spring and summer shopping, looking for the newest products. A spring sale is a great way to capture the available money being spent by […] VIEW

Weekly Retail Update
  • Weekly Retail Update: April 24, 2017

  • April 24, 2017
  • Another Retail Chain Closes its doors Retail chain Bebe announces it will close all 175 stores by the end of May. The company originally said it was planning to close around 12 percent of its brick-and-mortar locations. This comes at a time where many big brands are struggling to find their place in the current […] VIEW

  • 3 Easy Ways to Re-engage Your Customers

  • April 21, 2017
  • Did you know that returning customers spend almost 70% more than first-time customers? The importance of winning repeat customers for your bottom line has never been more clear. But with so many of your competitors competing for your customers’ attention, it can be hard to know if you are top of mind for your customers. […] VIEW

  • How Efficiently Are You Running Your Store?

  • April 19, 2017
  • Increased profitability in retail can come from many different places. Better inventory management, smarter buying and markdowns decisions, and keeping down expenses are all places where we can pull bigger profits from. So, what’s the one common theme in improving performance in each of these business areas? The key piece to the puzzle? Efficiency. It […] VIEW

Weekly Retail Update
  • Weekly Retail Update: April 17, 2017

  • April 17, 2017
  • Smaller Stores Help Retailers Win The U.S. Department of Commerce estimates that nearly 92% of retail purchases still occur in brick-and-mortar stores. On top of that, the top ranked retailers in the U.S. have stores that amount to less than 10,000 square feet. With online sales increasing from 7.3 percent in 2015 to 8.1 percent […] VIEW

  • The People of RICS (Cont.)

  • April 14, 2017
  • 7 months ago, I wrote a blog about the people of RICS and how together we help hundreds of stores each year become experts on their business. Today, I want to reflect on my experience as a Sales Development Representative. When most people think of sales, they think about the sleazy guy who tries to […] VIEW

  • 3 Reasons and Ways to Mark Down Products in RICS

  • April 12, 2017
  • Reasons You Should Mark Down Products Overstocked If you’ve got too many items from the holiday season, you’ve overbooked on a new supplier that isn’t panning out, or you simply want to bring new product and spice the store up a bit, it may be time to markdown product. Poor Sales Head on over to […] VIEW

Weekly Retail Update
  • Weekly Retail Update: April 10, 2017

  • April 10, 2017
  • Even with Expectations of Personalization, Most Shoppers Don’t Want to Share Data According to Retail Dive’s Consumer Survey, roughly three out of five shoppers aren’t interested in sharing their personal information (birthdays, income, etc.) with businesses for discounts. The survey also uncovered that men and shoppers under the age of 45 are more willing to […] VIEW

  • Join RICS for a Luncheon before the Mini-Marathon

  • April 7, 2017
  • For many specialty run stores it’s the greatest time of the year, the start of marathon season! And for Indianapolis, that means hosting one of the premier half marathons in the country, the OneAmerica Mini-Marathon. Drawing nearly 30,000 runners in 2016, the Indianapolis Mini-Marathon is the first event of the month of May that kicks […] VIEW

  • Your One-Size-Fits-All Solution is Bad for Business

  • April 5, 2017
  • You’re not a cupcake shop, so why use a POS system built for one? In retail, it’s important to for your technology to serve your business goals. There are so many options for your inventory management needs making it hard to find a perfect fit for you. Many inventory management and POS providers boast a ‘one-size-fits-all’ […] VIEW

Weekly Retail Update
  • Weekly Retail Update: April 3, 2017

  • April 3, 2017
  • New Report Showcases Shoppers Mobile Habits  According to the 2017 Mobile Consumer Report from Vibes, only 22% of shoppers in the U.S. have engaged with a chatbot, while 60% would feel comfortable engaging with one. The report surveyed some 2,000 shoppers across the U.S. and also found that shoppers had an elevated view of a […] VIEW

  • What Events Can Help You Draw More April Shoppers?

  • March 31, 2017
  • It finally feels like spring has sprung! More people are spending time outdoors, enjoying the longer days, and warmer weather. How can you get people to pop into your store when they are strolling by? Find what holidays and events that you can use to draw them in. April Fool’s Day You better watch your […] VIEW

  • Staying Connected with Your Customers to Win More Sales

  • March 29, 2017
  • In a world where staying connected to your customers can make or break a sale, it’s incredibly important for retailers to be thinking about ways to stay in front of their shoppers. When considering purchases, shoppers are using vastly different tools and resources to research and make purchasing decisions. Putting your brand and inventory in […] VIEW