In: Retailing Tips|Last Updated:
Giant Eagle Uses ECRM and RangeMe to Discover New Products

It’s no surprise that one of the most discussed topics among retail buyers is the challenges they face when it comes to keeping items in stock. The supply chain issues vendors have been facing due to transportation setbacks, labor shortages of their suppliers, and scarcity of ingredients or packaging components – ripple effects of which are directly or indirectly due to the pandemic – have impacted nearly every category.

While buyers typically participate in ECRM Programs and use RangeMe to discover new product innovations, many have come to see both ECRM and RangeMe as their go-to sources to prevent holes in their assortments due to these vendor supply chain issues. Gayle Young, Category Manager – OTC for Giant Eagle, is a case-in-point (see full video interview here). Giant Eagle operates more than 200 stores in Pennsylvania, Ohio, Maryland, West Virginia, and Indiana, and Young discovered she was running low on inventory of poison ivy salve.

“Our vendor just couldn’t get a hold of a regular supply, so it forced us to look for an additional source,” says Young. “So that was of particular interest when I participated in ECRM’s Health Care Program. My category is where shoppers head when they …

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In: Retailing Tips|Last Updated:

If you recently launched a new business, you’re not alone. New business creation rose in 2020 and 2021 due to pandemic layoffs, the online commerce boom, and the shift to working from home. Since June 2020, the average number of monthly business applications has been 92% higher than between July 2004 and February 2020. 1 Strangler, Dane. New Business Creation In 2022: Continued Surge—Or Another Slump? Forbes. December 29, 2021.

Despite this enthusiasm for entrepreneurship, the reality is not all businesses survive the steep learning curve associated with being your own boss. According to the U.S. Bureau of Labor Statistics, 20% of new businesses fail during the first two years of operation and about 50% don’t survive past the fifth year. 

We don’t want this to happen to you.

That’s why we’re sharing business lessons of what never to do, according to leading consumer packaged goods (CPG) companies as well as start-ups. We want you to avoid costly pitfalls that erode productivity and profitability as you build, grow, or stabilize your brand. 

Even big brands bomb (and that’s okay)

Companies of all sizes make mistakes, which can serve as lessons for us to apply to our own ventures. Here are …

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In: Dropshipping|Last Updated:
Dropshipping Niches That Are Steady, Not Trendy

Imagine having had a dropshipping store already built, with ads in place and SEO thoroughly locked down, when search volume for “fidget spinners” skyrocketed.

Anticipating that spike would have led to huge revenue—albeit the success would have been short-lived, because the product was trendy, not steady.

To build a profitable online store, you need to focus on the more reliable and steady dropshipping niches, while steering clear of the flashier ones.

We dug into some data to identify the dropshipping niches that have had the most sustained success over the past few years. Not the dropshipping niches with the hottest trends—but the ones that have been the most consistent.

Whether you’re a budding dropshipper or an experienced store owner eyeing something new, you can use this data to explore ideas, products, and strategies that tap into the most enduring niches.

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What is a dropshipping niche?

A dropshipping niche is a specialized segment of the market for a specific category of products or services. When choosing a niche for your online store, it’s very important to do your research, because not every product category will bring in consistent sales.

Best

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In: Retailing Tips|Last Updated:
How to Use E-Commerce To Foray Into Retail

More and more food and beverage consumer packaged goods (CPG) discovery and commerce is happening online. CPG brands who want to get ahead of the competition use e-commerce activity in different ways to jumpstart their retail strategy. 

Consumers discover products online

Undoubtedly, a utopia for many CPG manufacturers is seeing their products go into shopping carts and out the checkout aisle. Successful brands in national retail distribution know this journey can take more than a decade – if they make it at all.  Ninety five percent of new products fail, according to INC.

While the COVID-19 pandemic has shown an upswing in online grocery sales, the majority of food is still bought in retail stores. At a retailer point of sale, brands will grow and gain maximum consumer awareness.

Yet, retailers – faced with challenges of limited shelf space and the pressure of stocking high velocity goods – will need to rely on brands to bring in customers to their stores and increase product sell-through. Additionally, the average grocery store carries ~30,000 SKUs, according to FMI data*. Therein lies a great responsibility on brands to have some consumer recognition once they hit the shelf. 

Curious to learn more on how …

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In: Dropshipping|Last Updated:
What is a POS system and Why Do You Need One

Running an online store and exploring selling products in person? You’ll need a point-of-sale (POS) system to check out customers and accept payments.

But finding the right POS system for your business can be challenging. With a vast array of options, features, and reviews to compare, knowing which POS to choose can feel daunting. 

That’s why we’ve prepared this comprehensive guide to POS systems. Read on to learn everything you need to know to choose the best point-of-sale solution for retail selling.

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What is a point of sale?

A point of sale, or point of purchase, is the place in your retail shop where transactions are completed. Think of your store’s checkout counter—that’s your point of sale because it’s where you check out shoppers, take payments, and issue receipts.

What is a POS system?

A point-of-sale (POS) system is the software and hardware that helps your business make sales and accept payments from customers in person. It works just like a cash register, except that it lets you track sales, manage inventory, collect customer contact information, and much more. Modern POS systems also route funds to your bank account …

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In: Retailing Tips|Last Updated:

Launching a new brand is exciting – you’ve seen a gap in the market and you’re ready to take advantage. For creative business founders and managers, this is the moment to seize the opportunity with the right new product.

However, the best new product in the world won’t succeed unless you get the basics right when running a business. So, in addition to thinking about what will get your product flying off the shelves – from smart customer research to great marketing – you need to think about the basics. Below, we deal with some of the issues you’ll need to address when launching a new brand.

The insurance you need

Liability insurance – This  insurance protects your business in the event that someone brings a legal claim against it in various circumstances. For example, general liability insurance protects your business from claims that it caused injury to someone else or damaged another person’s belongings; it may also cover claims for other types of injury – such as libel or slander claims. Separately, professional liability insurance covers claims that you made some form of mistake when providing services; this cover is sometimes known as errors and omissions insurance.

Commercial property …

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