In: Retailing Tips|Last Updated:
Decoding Upcoming HFSS Regulations in the U.K.

Two for the price of one? Who can resist?

Consumers in England and Wales will soon be forced to resist, at least to some degree, with new legislation around food merchandising, starting in the coming months. The new rules will affect foods high in fat, salt, or sugar (HFSS) and are designed to thrust them less under the eye of shoppers and to not proffer them through special offers.

However, part of the new regulations have recently been pushed back. Here’s what we can expect to see:

October 2022: Retailers will no longer be allowed to place non-compliant foods (HFSS foods) in the most prominent places in their stores — such as endcaps and at checkouts — to boost sales. Small stores and specialty stores are exempt.

January 2024: It’s anticipated that retailers will no longer be allowed to offer Buy One, Get One offers and multi-buy deals on HFSS products. Commercials of these products will also be banned before 9 p.m. on TV; there will be a complete ban of paid-for advertisements for HFSS products online.

“This has the potential to be quite impactful given that products are put in those places for their sales impact,” says James Anstead, MD, …

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In: Dropshipping|Last Updated:
Checkout Process Optimization: 8 Tips to Increase Ecommerce Sales

Your online store’s checkout process can make or break your ecommerce business.

For shoppers, it indicates the experience your store can provide. If your checkout process aggravates them or doesn’t fulfill their needs, they might develop a negative perception of your business and buy from elsewhere.

The good news is there are several ways you can optimize the checkout process to gain more customers and more conversions. Check out the eight tips we’ve shared to get shoppers over the finish line.

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What is checkout process optimization? 

Checkout process optimization is a strategy an online retailer uses to improve their conversion rate. The aim is to reduce friction and instill trust in the checkout flow, encouraging more shoppers to complete a purchase (and not abandon their cart).  

Why is checkout process optimization important?

Your online store’s default checkout process likely isn’t optimized to offer the best experience. Research Institute Baymard reveals that the average cart abandonment rate for ecommerce stores is 69.8%, indicating that online retailers have a lot of work to do on the checkout front in order to drive more purchases. 

Checkout optimization can provide several …

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In: Retailing Tips|Last Updated:

Diversity is in-demand worldwide. This 2022 retail trend is welcome news for diverse suppliers looking for growth abroad. Right now, consumer packaged goods (CPG) companies are trying to manage the risk of tighter profit margins. Many diverse suppliers now seek new sales opportunities, especially as global e-commerce and digital advertising make it easier for them to sell anywhere. 

Let’s see what diversity looks like in international markets, including how market gaps give diverse suppliers new ways to satisfy underserved consumers and improve their top line.

What diversity looks like around the world

Globally, we’re seeing a rise in conscious consumerism, where consumers shop according to their values. For instance:

82% of shoppers want a brand’s values to align with their own;1 Silberstein, Nicole. Harris Poll: 82% of Consumers Want a Brand’s Values to Align with Their Own. Retail Touchpoints. April 27, 2022. 32% of global consumers will buy from brands that support social and political issues that align with their values; and2 Evans, Michelle. Three Ways The Future Retail Store Will Change. Forbes. December 1, 2021. 27% will boycott brands that do not.3 Evans, Michelle. Three Ways The Future Retail Store Will Change. Forbes. December 1, 2021. …
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In: Retailing Tips|Last Updated:
How Ulta Beauty Takes Product Innovation to the Next Level

The beauty enthusiast is at the heart of everything Ulta Beauty does. As a one-stop beauty destination with full-service salons in every store, the retailer provides guests with everything across the spectrum of categories and services. 

Its best-in-class loyalty program with high engagement – more than 90 percent of transactions come through it – and its large omni-channel footprint means guests can purchase products where, when, and how they want. 

And shoppers are purchasing products in record numbers. Net sales for Ulta Beauty increased 21 percent to $ 2.3 billion in its fiscal first quarter of 2022, up from $ 1.9 billion in the first quarter of 2021. Comparable sales were up 18 percent driven by a 10 percent increase in transactions and a 7.3 percent increase in average ticket.

RangeMe’s SVP of Retail, Wayne Bennett, caught up with Josie Ostrowski, Senior Manager, New Brand Partnerships at Ulta Beauty to discuss beauty trends and to unpack what the retailer looks for in the new brands it brings into its assortment.

RangeMe: What key product trends are you seeing in today’s marketplace?

Josie Ostrowski, Senior Manager, New Brand Partnerships at Ulta Beauty

Ostrowski: We’re really excited about the reintroduction of discovery and self-expression across the makeup and color spaces. Makeup is …

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In: Dropshipping|Last Updated:
Profit Margin: What It Is, How to Calculate It, and Why It Matters

Running an ecommerce business is not without challenges, one of which is making enough money to keep your doors open. Did you know that only 20% of businesses survive in the ecommerce industry? This means 80 out of a 100 businesses are breaking even with their expenses or losing money. This is why it’s critical to track your profit margin so you can see where you stand and take steps to keep the business going.

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What is profit margin?

Profit margin is the percentage of sales revenue a business retains after all costs have been deducted. Simply put, it measures how much you keep of the money you generate from a sale. The higher your profit margin, the better financial health your company attains.

Profit margin exists in several forms, with the following being the most popular:

Gross profit margin (or gross margin) Operating profit margin (or operating margin) Net profit margin (or net margin)

Here’s a detailed breakdown of each type.

Gross profit margin

Gross profit margin shows the profit of a company after accounting for costs related to making and selling its product or service.  

Calculating gross profit …

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In: Retailing Tips|Last Updated:

Scaling is one of the most challenging things for businesses today. It takes time, money, strategy, and top-notch marketing to skyrocket from a successful small business to a more prominent, established brand.  

But many retailers, e-commerce, and CPG brands get stuck on marketing. It makes sense. Marketing can and does feel quite nebulous to those who don’t do it as their primary specialty. Especially in the ever shifting digital landscape today.

It’s why many e-commerce businesses choose to leverage outside companies in addition to or instead of internal teams. But what are the advantages and disadvantages of using an agency to boost your brand’s marketing and ultimately grow your business? This article breaks down the best and worst things about hiring an agency to execute your brand’s marketing strategy. 

Pros 

More Expertise, Skill Sets, and Creativity   

An agency like Hawke Media has a wide range of experts on hand on a wide variety of channels. That means you get more expertise on more channels, for less money than you would get hiring and training a team internally.  Agency experts work on their specialty daily with countless other brands, which makes them that much better at knowing what works best on …

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