Black Friday 2013 In Review

Posted by on Dec 10, 2013 in Uncategorized | 3 comments

Black Friday 2013 has come and gone. The Christian Science Monitor has an interesting article outlining the nitty gritty details of one of 2013’s biggest shopping holidays (nightmares?) of the year. We have re-posted it here for your reading enjoyment! After weeks of hype, Black Friday has come and gone. So was it a success? Dealnews examines Black Friday 2013 retail records, new offers and shopper behavior. Image Source Everybody take a deep breath: Black Friday has come to an end. While there are still some Cyber Week sales to consider, and an onslaught of holiday promotions is on the horizon, we can at least close the book on Black Friday 2013. And as we do so, we’ve got some amusing tidbits from #BF2013 (Did you know that one of the hottest deals of the week was a towel?) and some major gripes to share. But first up, we crown the King of Black Friday 2013. Did Walmart Win Black Friday? Deciding which retailer reigned supreme during Black Friday is difficult. If you had asked us what store was winning before the big event, we would have said Walmart; we analyzed the ads from all the major retailers (and within a variety of categories), and by far Walmart had the most standout deals. And come Black Friday week, the deals did indeed show up — but on many occasions, our staff had issues with the website itself. We frequently saw messages about the site being busy, which likely resulted in delays in getting deals. Despite these e-commerce fumbles, Goldman Sachs declared Walmart to be one of the top three retailers for the week, noting that the store “drove the market” with its promotions. Moreover, before Black Friday was even over, Walmart announced that it had already sold a record-breaking number of items, so we agree that there’s a strong case to be made for Walmart. That said, when it comes to sheer volume of deals and top offers, no store can hold a candle to Amazon. A whopping 49% of Amazon’s deals were Editors’ Choice, compared to Walmart’s 26%. Amazon also had almost three times as many offers overall. However, this staggering number of deals is partially due to the nature of Amazon’s sales; the site released new promos roughly every 10 minutes, and many were valid for only a very brief period of time. That much-lauded $98 32″ TV, for example, lasted for just a few moments before it was out of stock. Additionally, a shout out is in order for Best Buy; typically the retailer is hot in the lead up to Black Friday, but this year its pre-Black Friday ads seemed a bit snoozy. However, come Tuesday and Wednesday of Black Friday week, Best...

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Black Friday Month

Posted by on Nov 4, 2013 in High Technology | 0 comments

November is the month of turkey, cranberry sauce, pumpkin pie, and – let’s not forget – it’s one of the busiest shopping months of the year. Here are 13 tech tips for streamlining your holiday shopping this year: The hectic holiday season seems like a perfect time to use technology to make your life simpler. Any help during the holidays would be much appreciated, right? The only problem is that technology—aside from the perfect gadget gift—might not be at the forefront of your mind. To help, we’ve compiled a list of 13 tech tips to get you through the holiday season. 1. Send holiday cards from your phone. Use the iPhone Cards app to personalize greeting cards from your phone with pictures of the kids, vacation photos, or family portraits. You’ll be able to create the card digitally on your phone and send a paper copy anywhere in the United States for $3. 2. Put all your returns on your smartphone. Ever been to a retail store on December 26? Yes, returns can be a small nightmare during the holidays. Luckily, there’s an app to alleviate your frustrations. Snap a picture of your receipt with ReturnGuru and the app will track your returns, allow easy access, and alert you before your return window is over. 3. Buy indie gifts for less online. Online independent retailers often sell more interesting and unique gifts for lower prices. A handmade gift is sure to be one-of-a-kind, so take advantage of Etsy coupon codes to shop at the giant online marketplace. Use Etsy gift cards, also, to treat someone to a nice present at one of more than 100,000 participating Etsy shops. 4. View Black Friday ad leaks before they hit the papers. Despite threatening cease-and-desist letters from retailers, Black Friday ads always leak onto the Internet weeks before retailers publish them in printed circulars. Check Black Friday websites to find information on 2012 ad scans and store hours and get your plan of attack ready before Black Friday. 5. Use a rewards mall when you shop online. Like shopping online? One simple step could save you up to 45 percent on your online purchases. All you need to do is start your shopping trip at a rewards mall, then click through to your favorite retailer’s website. You’ll earn a reward on what you buy—usually cash back, loyalty program points, or miles, depending on which mall you use. Popular malls include Chase Ultimate Rewards Mall, Hilton HHonors Shop-to-Earn Mall, eBates, FatWallet, and ShopDiscover. 6. Be sure you deal is a good one. With all sorts of coupons and discounts available, you’re never quite sure if what you’re buying is really a good deal...

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Increase Sales Through Inventory Control

Posted by on Oct 15, 2013 in Advice | 0 comments

Today’s Tech Tuesday post will focus on how retailers can increase sales through inventory control methods. We’ll be looking at an article by Rosemary Peavler for some of these methods. Retailers can increase sales by implementing good inventory control methods. Too much inventory on hand (or not enough) will cut into profits and revenue. Rosemary Peavler’s article outlines some tips for how to have enough – but not too much – inventory: Develop a holiday sales forecast. If most of your sales occur during the holidays, then your sales forecast will be different for the holiday period than for other times of the year because your sales are seasonal. The general sales forecast should be done many months, or as much as a year or two, prior to the holiday season. Forecasting is one of the foundations of your business. Planning ahead is crucial to your firm’s success. Respond to changing economic times for your company. If the economy is in a downturn, then you have to adjust your sales forecast to compensate.How much have your sales been down during the year? How much have your industry’s sales been down, particularly your direct competitors’ sales? You can look at the data for the retail industry in general. You can also get more detailed information on the competitors broken down more specifically. This will give you an overall picture of your industry’s performance overall in the current economy. If you look at this type of data, it will help you adjust your sales forecast. Analyze the sales for your own company during the economic changes that have occurred. What has happened to your sales during the economic downturn? Do you sell a product or service that is especially sensitive to a change in economic climate? Is yours a luxury good that people can do without? If so, you may experience a large change in sales. On the other hand, if you sell a product or service that is a necessity that at least a portion of the population, your company may do better in the economic downturn.Based on these issues, make another adjustment to your holiday sales forecast. Take a look at what types of inventory you carry. If your firm sells services and not products, then your inventory is different than the inventory for a firm that sells products. Whatever type of firm you own, you have to adjust your inventory to meet your adjusted sales forecast. Unless your business sales move counter to the economy, then they are probably lower than usual if the economy is in a recession.Do you expect your sales to continue to be lower during the holiday season? If so, adjust the amount of inventory you will carry....

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