3 search results for “Bridget Randolph”

Tap Into These Key Customer Triggers to Optimize Your Retail Loyalty Program

Tap Into These Key Customer Triggers to Optimize Your Retail Loyalty Program

Retail loyalty program, woman in liquor store | Shopify Retail blogAs a business owner or marketing manager, what percentage of your time and resources is spent on trying to get new customers versus re-engaging existing customers? If you’re like a lot of businesses, you’re spending much of your time trying to acquire new business. After all, more customers equals more money, right?

Not necessarily.

Research shows that gaining a new customer is actually five to 25 times more expensive than keeping an existing one, whereas improving customer retention rates by just 5% can grow profits by 25%-95%. In fact, a Gartner study found that 80% of a company’s future revenue comes from just 20% of its existing customers, and 61% of small businesses reported that 50%+ of their revenue comes from repeat customers.

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Wholesale Opportunities: How to Scale Your Retail Business Through Bulk Selling

Wholesale Opportunities: How to Scale Your Retail Business Through Bulk Selling

Wholesale for retail | Shopify Retail blogAt some point, every business owner will face the dilemma of scale. Whether you’re opening a second brick-and-mortar location, doing a brisk weekend trade at crafts fairs, or selling handmade custom jewelry online, the question is the same for everyone: how to grow your business and increase revenue when you only have so many hours in the day.

One of the simplest ways to scale a successful retail business is to sell more products (of course, this is easier said than done). But one common approach to achieving higher product sales is through wholesale selling.

Wholesale selling is a great way to scale your revenue without a heavy investment into marketing and advertising. Instead of trying to painstakingly increase the number of customers you sell individual products to, you can simply sell a large number of items to a handful of wholesale buyers. The concept is simple enough, and depending on your business’s structure, you may already be familiar with wholesale from the buyer's perspective; but it’s a great option to consider as a seller, too.

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Black Friday Cyber Monday: 10 Tips and Upcoming Trends From Industry Experts

Black Friday Cyber Monday: 10 Tips and Upcoming Trends From Industry Experts

Black Friday 2017 | Shopify Retail blogAs the summer draws to a close and we head into pumpkin spice season, retailers are already gearing up for one of the biggest shopping weekends of the year: Black Friday Cyber Monday.

To prepare you for a successful Black Friday 2017 (and its digital counterpart, Cyber Monday), we’ve talked to the experts and rounded up some of this year’s forecasted retail trends for the upcoming holiday season, along with our best tips and resources.

From the importance of a customer-centric approach to increased mobile sales to online and offline integration, here are the top 10 retail trends and tips for a successful Black Friday Cyber Monday 2017.

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