Index

About Rick

On 20^th May 2015, first "Saigon Executive Exchange" luncheon event will be held for people who are interested in international business. The event will be about concept of “Big Data”. The presenters will show how your company can gather data on your prospects and customers through both outbound marketing and inbound marketing. Also, the company will know how to enhance and segment it to maximize its value.

Business intelligence is always known as the tools, technologies, methodologies and best practices that help organisation have insights information on their business. BI helps organisations to have a clear view about their data to make better decisions and push the business process forward. In our previous posts, we discussed about the rising needs for business insights and how to correctly operate a BI platform to improve business performance. However, the business world is changing constantly; therefore corporation needs to have flexible business strategies to go along with the waves while still preserving its image and position in the market. Consequently, the implementation of BI is also challenged as BI solutions are one of the key factors that help businesses to stay competitive.

How often do you have to make decision?

How much time it takes you to make one good decision?

How often do you successfully execute your decision as intended?

Do you put the right amount of effort to make and execute that decision?

Applying an appropriate retail management system is one of strategic approach to retailers. Besides providing customer management which brings long-term value to their business, a best-on-class retail management system brings 7 more benefits.

All kinds of data that are relevant to retail operations are gathered every day in order to be analysed. Information about financial processes, marketing strategies or inventory procedures is very essential for merchants to make decisions. However, there is one type of data that is exceptionally important for retailers: customer data like name, address, past purchases, preferred communication channels. Although businesses might have already recorded this kind of information, there is a possibility that it is not utilised properly to enhance customer management methods.

For all retail managers, profit is always a crucial element when pricing products. However, as customer satisfaction is also a survival key, a smart pricing strategy which is done accurately and in a timely manner is a must.This article presents six common pricing mistakes that retailers should avoid.

A New Report for the Changing Economy. One Step Retail Solutions previously published a widely read report titled “The 5 Biggest Challenges Facing Independent Retailers” which presented the results of extensive research into retail industry trends, the major challenges impacting retailers and how retail Point of Sale (POS) technology could be used to overcome those challenges. 

Over the last year, while updating our research into the current retail environment, it became evident that the constantly changing technology landscape, in and of itself, has now become an additional source of concern for retail owners and managers.  We also determined that small to midsized chains, especially those who wish to continue their growth, face an even greater set of challenges than single stores or large retailers. 

Between 1994 and 2011, the number of farmers markets across the United States grew from 1,755 to 7,175. While much of this growth is likely due to a broader understanding of the importance of eating local, fresher, and seasonal, it is also suspected that it is driven by a desire of many people to shop differently — in pleasant family-friendly contexts that enable low-key, face-to-face interactions with merchants. A parallel trend is the rise of the food truck movement. In research we conducted earlier this year on the future of commerce, we found that people gravitate towards these kinds of "pop-up" vendor experiences because of the more personal qualities they provide — getting to know the vendor, suggestions for making the most of a purchase, or even just a certain quirkiness. In other words, these are fundamentally more human retail experiences.

It's not just with pop-up vendors, though. As the Apple Store demonstrates, and Ron Johnson explains, retail needs to get more human at all levels. One place we're seeing this is in the experience of paying for an item. The road from tills to cash registers to large and complex point-of-sale machines has lead to an increasingly literal divide between the buyer and the seller. Store employees spend more time looking at their displays than at the customer — and the customer is left looking at the back of the display, which is rarely an attractive sight. But at the Apple Store, you don't need to wait in line to purchase your items from someone behind a counter. Purchases take place anywhere in the store, and the customer and sales associate typically stand side-by-side during the transaction, which is executed on a modified iPod Touch.