“Employee Perks: Are You Giving Too Many or Not Enough?” by Bob Phibbs via The Retail Doctor Blog

“Employee Perks: Are You Giving Too Many or Not Enough?” by Bob Phibbs via The Retail Doctor Blog

Are you guilty of giving your employees too many perks? Or, are you not giving them enough? I read about a Canadian candy company looking for a Chief Candy Officer. The benefits? For a salary of up to $100,000, they get to taste 3,500 products every month. The most valuable perk though? It comes with “extensive dental coverage.” It can be tough to find the right balance between what you offer and what the employee wants, but it’s important to do so if you want to keep your team happy and productive. In this post, I’ll discuss some of the most common employee perks and how to determine whether or not you offer too many or too few. I’ll also provide some tips on how to create a perk program that works for your business. So, whether you’re just starting out or you’re looking to make changes to your current program, read on for some helpful advice! Answers to Some of the Most Commonly Asked Questions About Perks: What are the benefits of employee perks and why should you offer them to your team members? Your employees will feel more appreciated and motivated when they know their hard work isn’t going unnoticed.Perks can boost morale by demonstrating every individual is valued within the organization – which encourages employees to feel responsible for its success.Giving employee perks shows that management cares about people beyond just their jobs – a reflection which has been shown time after again as being a critical factor in workforce retention strategies. How do you know if you’re giving your employees the right perks? The best way...
“Skate Leaders Discuss Inventory Glut and State of Market” by John Stouffer via Shop Eat Surf (Executive Edition)

“Skate Leaders Discuss Inventory Glut and State of Market” by John Stouffer via Shop Eat Surf (Executive Edition)

By John Stouffer | Published Aug 8, 2022 The skateboard industry is struggling with excess hardgoods inventory that’s affecting manufacturers, distributors, and retailers around the world. We talk to leaders at Arbor, Carver, Element, Eastern Skateboard Supply, PS Stix and more about the outlook for the skate market. This article is available to our Executive Edition members. Click here to login or click here to sign up for a free 30 day Executive Edition trial. We, at BRA,  feel that the benefits of the SES Executive Edition Membership outweigh the cost. Be sure to visit the Shop Eat Surf website to view valuable Industry News and Resourceful Articles regularly via this link: Shop Eat Surf If you are not yet a BRA Retail Member, you can easily opt in to either Regular (no cost) or Distinguished ($100/yr.) Membership via this super simple join...
“Proactive Service is the Key to Consistent, Positive Customer Experiences” by Bulent Cinarkaya via Total Retail

“Proactive Service is the Key to Consistent, Positive Customer Experiences” by Bulent Cinarkaya via Total Retail

It’s 2022 and everything, including the way we shop, is hybrid. The 2022 Shopper Experience Index shows that almost two-thirds of consumers have embraced hybrid shopping permanently. Customers are shopping in person for products they’ve likely already researched online. Thus, the experience customers have when they go to a store needs to be as seamless, straightforward, and easy as it is when they browse the website. Given that so much of a store’s operations, from point of sale (POS) to back-room service to employee management, requires technology, ensuring it’s all working properly is key to keeping customers happy. Retailers need to think differently about IT service and ensure that they’re anticipating and preventing digital roadblocks before they reach the customer, and that their technology teams are set up to do their best work. Traditional Approaches to Service Eighty percent of customers say that they’ve switched brands due to a poor experience. That means just one malfunctioning POS system or an incorrectly catalogued item can be disastrous for a retail store’s reputation. Traditionally, regional or contract IT teams manage tickets as they come in from employees, troubleshooting and scheduling service as available. But in the meantime, at least one customer has already been negatively impacted, with more likely on the way. Rather than using a break-fix model, some organizations have moved to cycle-based maintenance to avoid negative experiences. This is typically more effective for equipment uptime, but it can result in performing unnecessary maintenance and actually adding to downtime. Proactive monitoring and automation to maintain the technology and infrastructure at a store is the only approach that will help retailers get this right...
“Will the ‘Buy Now, Pay Later’ model overcome economic and regulatory challenges?” by Tom Ryan via Retail Wire

“Will the ‘Buy Now, Pay Later’ model overcome economic and regulatory challenges?” by Tom Ryan via Retail Wire

“Buy Now, Pay Later” (BNPL) services, such as Affirm, Afterpay, Clearpay and Klarna, saw explosive adoption as e-commerce upshifted into a higher gear during the pandemic, but are now facing questions over their sustainability against a tide of rising interest rates, inflation and regulatory threats. The services let shoppers defer payments to a later date or break up purchases into interest-free installments. Rising interest rates narrow already-thin margins for BNPL providers. Their profitability is dependent on their own borrowing rates being much lower than the fees charged to merchants for their service. Soaring inflation and concerns about a possible recession are making consumers more apprehensive about purchasing the big ticket items best suited for extended payments. Finally, the fast growth of the largely-unregulated BNPL space has been drawing more scrutiny from state and federal authorities over concerns that consumers are not aware of the large late fees that can accumulate. Regardless, many consumers discovered the benefits of BNPL’s flexible payment options and avoiding the financial commitments involved with credit cards, even on lower ticket items. Experian’s “Global Insights Report,” based on a survey of 6,000 consumers globally in March, found that 18 percent had used BNPL in the past six months. Fifty-seven percent said they believe BNPL could replace their credit card and 71 percent perceive BNPL as secure. In the U.S, 80 percent of respondents use BNPL to avoid credit card debt. GlobalData’s report, “Buy Now Pay Later – Thematic Research,” which came out in late May, found BNPL expanding from $33 billion in 2019 to $120 billion in 2021, driven by greater adoption by merchants including Amazon and Shopify. GlobalData predicts BNPL sales will increase nearly five-fold to...
“TikTok Live Shopping Is Booming In 2022. How Can Small Businesses Benefit?” by Catherine Erdly via Forbes Magazine

“TikTok Live Shopping Is Booming In 2022. How Can Small Businesses Benefit?” by Catherine Erdly via Forbes Magazine

Live streaming is transforming some of the small businesses who have taken advantage of it’s powerGETTY “TikTok Shop LIVE has totally changed my business,” claims Sumayah Saadi, an LSE student who first set up her online shop aiming to provide affordable, modest fashion in February 2021 whilst still at university. With over 55,000 followers, Saadi’s business has seen significant growth since embracing TikTok Shop LIVEIVE -0.5%s. “The first time we went live, just to try it, we made £500 in 30 minutes. I figured that was a great result for such a short time, so we kept going. Now, it’s not unheard of for us to generate £50,000 from UK sales only during a 2 hour live and I would love to be selling live all day every day,” she explains, speaking via a video call. “Over the past year, we’ve seen merchants of all sizes transform their businesses through TikTok Shop, making the most of features like in-feed videos and livestreams to get their products in front of TikTok’s engaged community” says Patrick Nommensen, Senior Director, E-commerce Operations at TikTok. “It has been amazing to see the range of merchants now selling through TikTok Shop, from household names to small homegrown businesses.” Keen to encourage multi-seller events, TikTok has recently launched a series of TikTok Shop LIVE events. These have been hugely successful, with their recent Summer Sale event experiencing over 276 million LIVE views, and nearly 135 million views on associated hashtags. The interactive nature of live selling makes it perfect for almost any type of products – from jewellery, accessories, luggage and an unexpected hit – football trading cards. Nommensen highlights...
“Surf Expo Attracts More Than 600 Exhibiting Brands to Upcoming September Show” via Shop Eat Surf (plus video of highlights from January Show & more)

“Surf Expo Attracts More Than 600 Exhibiting Brands to Upcoming September Show” via Shop Eat Surf (plus video of highlights from January Show & more)

Photo courtesy of Surf Expo PRESS RELEASES | Re-Published August 3, 2022 ORLANDO, Fla.– (July 25, 2022) Surf Expo, the premier watersports and coastal lifestyle tradeshow, returns to the Orange County Convention Center in Orlando on Sept. 8-10 in the West Concourse with a wide range of brands and a diverse floor plan.  Over 600 exhibitors are participating this September with an 18% increase in square footage compared to the previous September show.   “We are thrilled to return to Orlando this summer with an extensive and impressive list of brands to help retailers fulfill all their buying needs,” said Roy Turner, Surf Expo senior vice president and show director. “Coastal and beach related categories have been in high demand the past two years, and with our increased list of exhibitors, we look forward to introducing buyers to new brands as well as offering them a productive environment to connect with their existing brand partners.”  Brands exhibiting in the Watersports sections of Surf Expo include 4ocean, AVID Sportswear, Billabong, BN3TH, Body Glove, Brixton, Carve Designs, Carver Skateboards, Captain Fin, Dark Seas, Fair Harbor Clothing, Havaianas, HAYDENSHAPES SURFBOARDS, Hurley, IMSY, IPD International, Jetty, Katin,  …LOST, Lotus and Luna, Manhattan Beachwear, O’Neill, Otis Eyewear, Party Pants, POP Board Co., Psycho Tuna, Pura Vida Bracelets, Quiksilver, Rastaclat, Reef Apparel, Rhythm, Rip Curl, Roark, ROXY, RSVLTS, Rusty, RVCA, Saint Maddox, Salty Crew, Sand Cloud, SEATEC OUTFITTERS, Simbi, Sisstrevolution, Sun Bum, Surfer Dudes, Tahe Outdoors, Teva, Thread, Vissla, Volcom and YETI.   In the Coastal Life categories, brands attending the show include Beach & Barn, Bogg Bag, Dippin Daisys, ELAN, EXIST, Hang Loose, HUK, Kanga Coolers, Lakeshirts/Blue84,...