How you measure profit will determine how much profit you “really” make? Last year’s Diwali was a blockbuster. Your jewellery showroom was flooded with customers. You ran several promotional campaigns which brought in good footfall into your store. Several designs sold like hotcakes. But at the end of the day,[…]
How can a store dashboard help you make more money? The dimensions of the retail landscape are changing. Data is quickly becoming the decisive factor for retail management. Analyzing customer persona and purchase behaviour has become absolutely essential for retailers to take decisions in pricing, marketing, inventory etc. All this[…]
Jewellery Buying for the season is on. Retailers, Vendors are all busy with “orders”. Is Business Planning a part of your business too? Clearly the market is getting ready for the season. Retailers and suppliers are optimistic. This will, probably be one of the best seasons in recent memory. Here[…]
Retail inventory management is the key to profitability in business. You may have a great product, a clever pricing policy or an innovative marketing strategy. But if your inventory management is poor, everything is up for a toss. Inventory management is like a canvas and stock turn rotation is just[…]
Online Vs Offline Retailers – Benefits of Data Mining “What the online companies doing with data”? “OYO has the most advanced hotel management. It is not a travel agent but manages hotels comprehensively with its management, booking technology, quality control method and efficient Artificial Intelligence. About 43 million micro optimisations[…]
As a jeweller, you must have your hands full. Overseeing store operations, assessing inventory, deciding purchase lists, fixing pricing, evolving promotional campaigns, managing staff- the list is endless. But of all these tasks, “careful” buying is the most important job of the store. Yes, purchasing the right jewellery items is[…]
Ask any retailer, “Bargaining” is his biggest headache. Everybody loves to bargain. Every buyer thinks that the price “quoted” is high. We are a nation of shopkeepers and as a nation, we all love to bargain. We all want “full paisa vasool” or full value for the money we are going[…]
How to improve your business through online learning? In order to survive the highly competitive market scenario, business enterprises have to constantly update their knowledge and upgrade their skills. A Face to Face meeting and learning from an expert is one way, it is not always possible to meet up[…]
“Change is inevitable,” said famous British PM Benjamin Disraeli and this is true of businesses too. Business enterprises are compelled to change to survive in the highly competitive market and to avoid being left behind. This change calls for continuous improvement of their thought processes, methods of functioning, technological upgrades,[…]
Will your company fire you too ? Perform or Perish is the new “mantra”. Sachin Bansal perished for sure, even though he walked out with lots of money. What is your story? If you have about 10+ years of experience, a basic degree, been working with the same company for[…]