Scaling Retail Blog
All things generally related to fashion.
Answer by Syama Meagher: Big questions, and lots of points of view. Business development should always lead you to think of partnerships. What are the key arenas and peripheral businesses that have customers who would be a natural fit for your product. Think of win-win scenarios. Incentives such as: discounts, contests, and added value for…
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Check out the front page post on OpenForum Marketing: Our post on Big Data and Small Businesses is front page!
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Answer by Syama Meagher: Call manufacturers and get familiar with their production cycles. Sometimes you can through your order in and a better price because its better for them to keep factories going all year long. Some things to ask yourself: Will you be producing as the order is placed? Or are you purchasing inventory…
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Answer by Syama Meagher: Use abandoned cart emails, and entice customers to come back with Free Ship or Price drop alert KISS (Keep It Simple Sam): When pushing customer through the funnel, make a one page checkout. Look at your Behavior Flow in analytics, where are they dropping off? Payment options: Gilt and other brands…
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Answer by Peter Baskerville: There is a reason why the following supply chain has developed over the past 150 years – it has proved to be the most efficient and therefore the most profitable way for businesses to convert raw materials into saleable goods and for consumers to purchase those goods for the lowest possible…
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Interesting post from Open Forum. Partnerships are incredibly important when identifying resources and growth opportunities. “This article was originally published on The Huffington Post. With a third of entrepreneurs making growth a top priority in 2013, small business optimism is a bright spot amid ongoing economic uncertainties. Entrepreneurs’ confidence rose to 86 percent in the third quarter, according to the Ewing…
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Great article from Racked. Important to recognize the value of community. Small businesses share similar experiences and there is a lot learn from one another. “Over the past year, we’ve spoken to store owners throughout the city—from the Lower East Side to Ditmas Park—compiling their vast knowledge and anecdotal tidbits into a weekly interview…
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Answer by Syama Meagher: This is a two fold answer. The first, how can I drive traffic to my site. The second, how can I push someone through my funnel. There is a 2a which is how can I increase the lifetime value of my customer- you don’t want to be a one hit wonder.…
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Interesting interview with Maddy Maxy from Open Forum. Its exciting to see a woman learning code and enter into fashion tech on her own. TAKEAWAY: Getting scrappy is important, if even to learn the elements you may need to eventually hire out for. “Maddy Maxey is determined to be perpetually caffeinated. It’s a strategy integral…
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Some retailers have changed their return policy to accommodate holiday shoppers this year. Good or bad idea…. Small businesses be on guard. This is one area you don’t need to keep up with any industry standard. Stick to your 3 day return, and 7 day exchange policy. Extending your policy will not help you attract…
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