“4 Ways to Power Touchless Retail with Text Messaging” by Podium (BRA Supporting Vendor Partner)

“4 Ways to Power Touchless Retail with Text Messaging” by Podium (BRA Supporting Vendor Partner)

Companies from Amazon to Zoom are rethinking their customer experience in the post-COVID era. See how innovative retailers are responding with text-based messaging, touchless payments, and more. COVID-19 has completely transformed consumer behavior. 85% of consumers have chosen a new business because of pandemic friendly services and 86% say they expect businesses to be even more convenient after COVID-19 restrictions lift completely everywhere. It’s not surprising that 80% of consumers would like local businesses to continue offering curbside pickup options. Companies like Amazon, Doordash, and Netflix have also upped customers’ expectations for convenience. And retailers can meet these expectations with a few tips from the experts. In this session of the 2020 Total Retail Innovation Conference, Katie Osberg, Global Retail Partnerships Lead at Google, and Doug Regner, VP of Enterprise Sales at Podium, share four ways to power touchless retail with text messaging. Read on for the takeaways from this discussion: 1. Grow location reviews with text messaging.  89% of consumers begin their buying process with a search engine. Searches containing “near me” have grown 9x more popular since 2016. Google Map Pack chooses three businesses to highlight based on star ratings, number of reviews, and frequency of reviews. And 70% of clicks on a local search will happen in that map pack. In order to grow and optimize your online and local presence, you’ll need the help of reviews.  Follow these steps to get started: Check to see if you’re listed on Google My Business. If not, create a Google My Business accountVerify your businessEnter or update business informationPeriodically add or update information, especially relating to COVID hours, pickup services, etc.Generate reviews The most effective...
“Why Inventory Management Matters” by RICS Software (BRA Supporting Vendor Partner)

“Why Inventory Management Matters” by RICS Software (BRA Supporting Vendor Partner)

It’s not easy to keep inventory in line. You analyze sales trends to make decisions. You review margins, sell-thru, and return on investment to evaluate profitability. You create buy plans, propose reorders and cancellations, and you suggest markdowns. All this just to keep your inventory in line. Inventory management is crucial to thesuccess of your business. Why? Because accurate purchase order planning is a necessary step towards optimal profit. Inventory influences sales.Sales drive business.Business creates profit.And profit measures success. Having the right product at the right place at the right time is the reason why sales occur, making it crucial to use all the information at your disposal to make inventory management decisions. When you’re not selling merchandise, you’re losing money. Period. The longer you hold on to merchandise that isn’t moving out the door, the more moneyyou are losing. In this article, we will share the 7 best practices on how best to manage your inventory, putting you in charge of you store’s success. When you’re not selling merchandise, you’re losing money. Period. Plan before you buyUse your data to plan out your assortment rather than reordering using the same quantities you always have for convenience’s sake. In the long run, profits beat convenience. Take the time to analyze which items are profitable and use past numbers as a guide to forecast future demand. Only after thoughtful data-driven planning should you start writing purchase orders. If you’re in the process of ordering merchandise for a particular season, use historical data as a benchmark for pricing decisions and sell-thru rates. Too often, merchants get stuck pricing seasonal or trend-driven...
“Exciting New Rx Benefits Added To BRA LIG Association Health Program”  via BRA Supporting Vendor Partner LIG Solutions

“Exciting New Rx Benefits Added To BRA LIG Association Health Program” via BRA Supporting Vendor Partner LIG Solutions

To the members of Board Retailers Association: We have exciting news to share with you! As you may have heard Board Retailers Association has partnered with LIG Solutions to bring our members comprehensive and affordable health coverage solutions that are designed for individuals, families, and business owners along with their employees across the United States. They have just released a brand-new element to this program that we are excited to introduce to you! As a part of the LIG Association Health Program, our members can now take advantage of the brand-new LIG Solutions Rx, which is a national pharmacy program that is revolutionizing the way you get your Prescription Drugs and their pricing. This is a cost-effective monthly membership program (NOT a discount/savings card or insurance) that has real pharmacists, based out of Akron, Ohio assisting you, the member. They are focused on helping our members achieve the highest quality of life through medication, counseling, education, and adherence to the latest pharmacology standards. The LIG Solutions Rx Benefits include: Set pricing on all medications:Acute medications (immediate need)Chronic medications (maintenance)Over-the-counter medications (ex: Allegra, Advil, Tylenol)Pick up at any pharmacy at a set price for acute medicationsHome delivery service for chronic and over-the-counter medicationsExclusive SaveOnDiabetes program, which includes:No cost meters and a starter kit with test strips/lancetsLow-cost test strips and lancetsFREE oral diabetes medicationsInsulin for $19.88 per vialMost acute medications are $5/21 day, and chronic medications are $15/90 day supply.All medications are American sourced and shipped securely with trackingLicensed Pharmacist coaching to ensure you’re getting the most cost-effective options To learn more about this program, visit www.LIGmembers.com/boardretailersassociation and click on the...
“Best Cross Selling and Upselling in Retail Tips (including instructional video)” by Bob Phibbs (The Retail Doctor)

“Best Cross Selling and Upselling in Retail Tips (including instructional video)” by Bob Phibbs (The Retail Doctor)

Cross selling and upselling in retail are the foundation of raising the average ticket. Cross selling in retail is the art of suggesting additional, complementary products to someone who has already decided on a purchase. Here’s one of my examples of upselling. Think of restaurant servers who, when you order a piece of pie or cake, ask, “Do you want a scoop of vanilla ice cream with that?”.This example of a product upsell has been used for years and for good reason. It simply and elegantly illustrates the point and best practices of cross selling. You’ve already decided you’re going to treat yourself. The server has made a sale. Then the server comes back to offer you ice cream too. Why? Because they know that vanilla ice cream goes great with pie or cake. They’ve offered you additional value, while potentially earning themselves extra revenue…and a higher tip, don’t forget. So, you think to yourself, “I like ice cream. Ice cream would be tasty right now. It’s only a little more money to get a lot more out of my order. Ok, I’ll go with the a la mode.” The server has successfully employed the necessary upselling techniques for cross selling, and you’ve gotten an extra treat. Everybody wins. Selling is nothing more than a transference of feeling, because I feel good about products or services, I can easily share that. How does upselling work in a retail business? While the products are significantly different, the selling strategy, techniques, and approach are surprisingly similar. Cross-Selling Tips for Retailers Cross selling is about giving a boost to the foot traffic that already...
“Outdoor Sports Insurance Highlights the Necessity for Board Retailers to Consider Network Security” via OSI (BRA Supporting Vendor Partner)

“Outdoor Sports Insurance Highlights the Necessity for Board Retailers to Consider Network Security” via OSI (BRA Supporting Vendor Partner)

For years, Network Security Insurance (commonly referred to as Cyber Liability Coverage) waswidely regarded as a boutique coverage needed only by large corporations who store andprocess large volumes of consumer credit card information. In the later part of the last decade,however, this perception proved inaccurate when cyber-attacks on small to midsize businessesand retailers increased nearly 600%. Cyber extortion targeting small businesses now reignssupreme. The good news is, Outdoor Sports Insurance has access to a wide array of insurance marketsthat write cyber policies specifically for the small business owner. These policies are bothcomprehensive in protection and breach response services, and affordable in premium.Wrapped together with policies that cover the risks associated with snowboarding, surfing,skateboarding or any board sport, Outdoor Sports Insurance knows the market and has theproducts to fit any Board Retailer. By definition, a “cyber attack”, or “security breach”, refers to unauthorized access to the ITinfrastructure of a company by a third party (hacker) with the intent to corrupt, steal, or destroydata. The types of attacks hackers employ to achieve these ends runs a wide spectrum; Denialof Service (DoS), Phishing attacks, Password attacks and cross-site scripting attacks are just afew of the more common means by which hackers wreak havoc on a company’s network (andsubsequently the daily operation of the business itself). The most common attack, and by far the most damaging in terms of financial impact to victims,is the ransomware attack, commonly referred to as, “cyber extortion.” When a company hasbeen hit with a ransomware attack, malicious software infiltrates a portion, or all, of thecompany’s IT mainframe. As malware increases in sophistication and complexity, so, too, do theextortion...
“Trek and Locally Hit the Road Together” by Mike Massey via Locally.com

“Trek and Locally Hit the Road Together” by Mike Massey via Locally.com

Consumer Behavior is Changing One of the most inescapable business themes of the past decade is the evolution of consumer shopping behavior. Nearly every business news story about consumers involves the application of new technology to everyday life. Whether it is something as simple as reserving a table for dinner or as complex as renting a vacation home in a foreign currency on the other side of the world, internet-based technologies have raised the bar for what’s expected in day-to-day commerce. Locally was founded by a group of retailers in 2013 to address the gap between what evolving consumers expect and what’s needed for local retailers and their suppliers to thrive. Identifying the Problem for Retailers When we read stories about how these changes have affected various industries, physical retail is often held up as an example of an industry that has failed to stay current with technology-based solutions. Stores have limited hours, significant physical location costs, a smaller assortments of merchandise, and usually require shoppers to get in a car and come to them. It’s easy to see why pundits would expect physical retail to be toppled by a more modernized shopping paradigm. Still, these issues are not insurmountable, and physical retail continues to play a major role in shopper behavior (arguably the largest). Stores like Apple and Lululemon that have combined digital and physical retail have absolutely thrived in recent years. It seems that having physical locations near customers is less of a problem than creating digital connections to shoppers. Locally has served as a natural extension of our business – and aligns perfectly with our goal...