According to David Sambor, a leading expert in loyalty programs, acquiring new customers is 7x more expensive than retaining an existing one and compared to new customers, existing customers are 50% more likely to try a new product and spend 31% more on average. Retention has 2-3 times more impact on your growth than acquisition does and a 5% increase in customer retention can increase profitability by 75%!!! All this to say, we need to...

Most retailers share the goal of driving more in-store foot traffic, but what good are more customers if you aren’t selling more during peak hours?  Whether it’s through cross-selling and upselling, promotions or just flat-out amazing customer service—learning how to sell more during peak hours is a must for any retailer that wants to grow.  <Guest Blog Post> In this post, let’s focus on how you can do just that. We break it down into five retail sales tips:  Find your...

With mobile shopping taking the reins, brick-and-mortar shop owners are looking for creative ways to bring customers into their store. However, improving your in-store experience isn’t limited to out of the box implementations. Even simple upgrades of the store environment can make a difference.  Let's improve your in-store customer experience today! Here are a few ideas to help you enhance the in-store experience of your customers.  1. Provide A Customized Experience  Online stores are becoming the preferred shopping...

I know, I know. It’s not even January yet, but tax season will come sooner than you think!! This article is a strategy guide for tax season for boutique owners. Yet, as a boutique retail or wholesale business, there are a few tax-saving tasks I’d like you to consider as you ring in the new year.   So here are 5 retail-specific tasks you should complete NOW to prepare for tax season: 1. Review your entity filing status Your entity filing status...