The High Cost of Grocery Store Shrink, and What to do About It
Shrinkage in retail comes in many forms; thefts, markdowns, and human error all eat into profits. Grocers, however, put out a full-scale buffet, when the perishability of products is taken into account. Historically, grocers have some of the lowest margins at 2.5%. Those low margins are colliding head-on with a massive shift in consumer taste […]
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How CB4 Retailers Use Tech to Enhance Store Manager Performance
As shoppers grow increasingly knowledgeable about the products they buy, the demands placed on store managers continue to pile. With a quick search on their phone, shoppers can find the best prices, the flavors/colors/sizes, and the local sellers of any product they want. Heck, they can even have it on their doorstep free of charge […]
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Naming a Product “Corn Knuckles” and Other Private Label Pitfalls
Private label goods are now standard retail practice, especially in grocery. If executed well, a private label brand can drive growth in volume and in margins. By utilizing in-house brands, you essentially scoot your business down one spot on the value-chain, connecting directly with manufacturers and producers. In so doing, you leverage economies of scale […]
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6 Ways to Improve Grocery Store Profit Margins with Technology
Raising prices used to be the go-to strategy for retailers looking to widen their grocery store profit margins, but this practice is no longer sustainable in today’s retail landscape. With players like Walmart, Aldi, and Lidl constantly offering bargain basement deals, other grocery stores risk losing their customers if they can’t match the prices of […]
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