In: Retailing Tips|Last Updated:

The global inflation crisis goes from bad to worse. War in Ukraine, lockdowns in China, and COVID-19-related supply chain disruption continue to cause problems, sending prices spiraling all around the world.

In the U.S., the annual inflation rate hit 8.6% in May, the highest level seen since 1981, prompting the U.S. Federal Reserve to raise interest rates for the third time this year, by 0.75 percentage points. In Europe, U.K. inflation is expected to hit 11% by autumn, while the eurozone has seen price rises hit 8.1%, the highest level seen since the launch of the euro. On the other side of the world, inflation is heading towards 7% in both Australia and New Zealand.

Consumer-facing businesses such as consumer packaged goods (CPG) suppliers and retailers are finding it difficult to cope with surging inflation. Their own costs are rising rapidly, with inflation running particularly high in staple ingredients – wheat prices, for example, have doubled this year. But they are nervous about passing on too much cost to customers, for whom a cost-of-living crisis is rapidly intensifying.

CPG businesses and retailers are already seeing consumers taking action in the face of soaring prices. In particular, we are seeing a …

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In: Dropshipping|Last Updated:
How to Avoid Burnout: A Guide for Entrepreneurs

Any entrepreneur can tell you that the secret of success is sacrifice. Hard work simply comes with the territory—including some very long hours.

Today, small business owners work far above the national average. Roughly one in three work more than 50 hours per week. One in five work 60 hours or more. In all cases, small businesses were found to work twice as hard as traditional employees.

But entrepreneurs are people, too. Despite their intense work ethic and superhuman endurance, nonstop work can’t go on forever. There’s always a breaking point, often manifesting with a devastating consequence: burnout.

Burnout affects the entrepreneur in a number of ways. A whopping 42% of all entrepreneurs report feeling burned out over the past year, a number that is expected only to grow. This number is much greater for minority-owned businesses, with 62% of respondents reporting burnout. Worse, 53% of all those surveyed report burnout as having a negative effect on their business. 

It’s clear that burnout doesn’t just negatively affect the mind. Once it becomes severe enough, it can have serious consequences on the health and success of your business. 

Let’s explore the working definition of burnout from an entrepreneurial perspective, …

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In: Retailing Tips|Last Updated:
Four LGBTQ-Owned Brands to Shop and Support on RangeMe

This June, we’re celebrating Pride Month by spotlighting LGBTQIA-owned brands on RangeMe. Lesbian, Gay, Bisexual, Transgender, and Queer (LGBTQ+) Pride Month is celebrated in June to honor the 1969 Stonewall Uprising in Manhattan. Supporting and shopping queer-owned brands and retailers is one way to counteract the disproportionate platform granted to non-minority-owned businesses. There are countless LGBTQ-owned businesses that you can support during and beyond Pride Month. 

Ahead are four LGBTQ-owned brands with innovative products and inspiring stories! Read on to hear how being part of a diverse community has supported their business goals. 

Apothecary by Dr Botanicals

Apothecary by Dr BotanicalsApothecary by Dr Botanicals Apothecary by Dr BotanicalsFounder, Richard Walker Apothecary by Dr BotanicalsPride Lemon-butter campaign Apothecary by Dr BotanicalsPride Lemon-butter campaign

Apothecary by Dr Botanicals is an indie beauty brand from London, formulating natural and vegan ingredients to create skincare products. Dr Botanicals was founded by Richard Walker, who was greatly inspired by his father, a chemist responsible for constructing a new treatment of plant botanicals in 1958. As a trusted natural botanicals brand, they insist on NO parabens, NO harmful preservations, and NO animal testing. 

“Dr Botanicals Skincare is fabulously proud to be gay-owned and -operated,” emphasizes Walker. “We love the LGBTQ+ community, which embraces respect, community, and individuality.” Dr …

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In: Dropshipping|Last Updated:

Instagram Stories play a huge role in the life of social media users. Stories keep us updated on the lives of our loved ones, our peers, and our idols. They deliver interesting information, hilarious antics, and important updates.

That’s why Instagram Story ads can be a powerful tool for your business. You can slide right in with the Stories your audience wants to see. And because Instagram Story Ads look so similar to organic Stories, they see high levels of views and engagement.

This article is your jump start into the world of the Story ad. You’ll learn how to craft ads that capture your audience’s attention, immerse them into your world, and most importantly—make them want to learn more about your brand.

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What are Instagram Story ads?

Instagram Story ads are vertical, full-screen ads marketers can place in Instagram Stories. They’re almost identical to organic Stories (which are also full-screen and vertical), except for the “Sponsored” text that appears below Story ads. Campaign objectives for Story ads include reach, conversions, and brand awareness.

Instagram allows you to choose from photos, videos, and a carousel to format your Story ads. …

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In: Retailing Tips|Last Updated:
Global Retailers Bring Inclusive Products to the Front

Diversity, equity, and inclusion (DEI) has become a key phrase for the roaring 2020s, as the world wakes up to accepting and welcoming people of every race, color, gender, religion, and sexuality.

In retail, we’re seeing that play out both in the products on shelves and the sourcing practices of retailers.

Target’s focus

Target’s focus on diversity is not going unnoticed. Last year the retail giant pledged it will spend more than $ 2 billion with Black-owned businesses by 2025 and now carries more than 500 Black-owned business brands in stores and online, already ahead of its goal.

This “includes everything from investing in underrepresented entrepreneurs and launching Black-owned brands on our shelves, to working with Black designers and suppliers,” LaKesha Brown, a Target spokesperson, told RangeMe. 

Target also has a Forward Founders program, designed to engage entrepreneurs, particularly Black founders, early in their startup journeys by helping them navigate critical stages of bringing a brand to market, including ideation, product development, and scaling for mass retail. More than 2,000 founders have attended the virtual program since it launched.

Chill Tips at TargetTarget carries more than 500 Black-owned business brands in stores and online Blk & Bold Coffee at TargetTarget carries more than 500 Black-owned business brands in
…
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In: Wholesale Advice|Last Updated:

Shopify is arguably one of the best platforms for dropshipping. But, how does it work? If you do not know, there’s no need to worry. We’ll cover everything you need to know to get started. But first, you’ll need some background info. What is dropshipping Dropshipping is an eCommerce model that enables vendors to sell […]

The post Shopify dropshipping: All you need to know appeared first on Wholesale2B Blog.

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