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10 Tips For Successfully Opening And Managing Your Retail Store

Strategy Driven

It’s not uncommon for retail stores to introduce customer loyalty programs – examples include Amazon Prime and Starbucks Rewards – or use marketing tools, e.g., ReferralCandy. Retail managers can incorporate technology into business operations to streamline sales and provide buyers with a better user experience.

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Online Shopping Isn’t as Profitable as You Think

Harvard Business Review

Census Bureau, ComScore, eMarketer, and Forrester. In general, however, e-commerce operations aren’t as cheap to run as most people think. in operating margins over the past three years. Operating margins for department, discount and specialty stores typically run 6% to 10%. Growth rates first. All show similar trends.

Retail 8
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The Logic Behind Amazon’s Prime Day

Harvard Business Review

However, operating income was $178 million (thus, a measly 0.2% operating margin) which resulted in a $241 million net loss. The purchase loyalty engendered by this program is reflected in the big difference between Prime vs. non-Prime customer spending. In FY14, for example, Amazon had an impressive $89 billion in revenues.

Retail 8