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Business Strategies

The technology innovation trend in the past year will continue in the retail industry with mobility as one of the emerging technologies. Shoppers can research and compare prices of just about any item from both online and brick-and-mortar stores on their smart phone. Retail analytics can predict shoppers’ life styles and target them with promotions to increase sale. So how does a small business compete with large retail boxes that have the ability to afford the cutting edge technology? This is not an easy task and here are some strategies that could help.

Tips To Reduce Employee Turnover

There can be a high employee turnover rate for retail grocers. We all know the importance of benefits and salaries to employees for retention purposes but the following are a couple of additional tips to help reduce turnover.

Investing In Training Is Profitable

The most successful companies have long recognized the value of a well trained staff. Some of the many reasons savvy business owners realize how investing in training will impact the bottom line are: increased job satisfaction and morale among employees; increased employee motivation; increased efficiencies in processes, resulting in financial gain; increased capacity to adopt new technologies and methods; increased innovation in strategies and products; reduced employee turnover; enhanced company image. These are just some of the compelling arguments to make ongoing training an organizational goal.

Neighborhood deep dive

Consumer response to new store openings typically follows a pattern. It begins with a heavy spike in business, driven by special offers and pricing. You’re essentially buying the consumers’ first visit in the hope that they’ll continue to shop with you post grand opening. Over time, business invariably drops to a sustained level that’s primarily driven by what’s become your loyal customer base.

Could it be that 911 is calling you?

In an article published this week in the Washington Post Steven Chabinsky, former deputy assistant director of the FBI cyber division said, “It’s usually the victim calling 911, not 911 calling the victim”. He was referring to the fact the US Federal agents notified more than 3,000 U.S. companies last year that their computer systems had been hacked.
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