In: Retailing Tips|Last Updated:
6 Ways Rising Costs are Impacting Consumer Behavior

Consumers have struggled with rising inflation concerns for well over a year, and the uncertainty has profoundly impacted family spending decisions.

 As the economic downturn stretches into the second quarter of 2023, consumer confidence is still on shaky ground, even as inflation shows signs of slowing down. 

According to a study by Deloitte, consumer concern for rising prices did not fall below 70% at any point in 2022, a trend that has continued during the first few months of 2023.

As a valued partner of ECRM & RangeMe, Parent Tested Parent Approved, a leader in brand trust strategies and home to one of North America’s most influential consumer product awards, did a deep dive into consumer behavior and spending habits. Engaging select members of our parenting community of over 250,000 members, we surveyed over 2,000 parents about their purchasing trends in recent months. Following are some of our findings.

1. Consumers are struggling to budget for recurring living expenses.

As inflation climbed to its highest rate in decades, it’s no secret that discretionary spending is down, with the majority of consumers feeling the pinch on everyday necessities. With rising inflation sending prices skyrocketing right into 2023, more than 75% of …

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In: Dropshipping|Last Updated:
Cash Flow Formula: Definition, Types, and Importance For Business (2023)

There are key formulas small-business owners should know for keeping track of cash inflows and outflows. These formulas help ensure you have enough cash not only to survive, but also to grow and expand. Lenders and investors also look at these metrics to assess the health of your business.

In this article, we’ll give you a rundown of the essential formulas every small-business owner should be familiar with to effectively manage their cash flow. But first, let’s look at the definition of cash flow formula.

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What is cash flow formula?

A cash flow formula is a key element in financial analysis utilized by accountants and business owners alike. It allows for calculating a business’s net income, with cash flow statements providing valuable insights into various financial transactions. 

Cash flow statements can range from those that focus solely on core business activities like manufacturing and sales to those that include ancillary income such as dividends from investments. Analysts and investors closely examine these diverse statements to assess a company’s overall financial standing. 

4 important cash flow categories

A cash flow analysis helps company owners see the amount of money entering and …

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In: Dropshipping|Last Updated:
Top 9 Eco-Friendly Products For Profitable Sales In 2023

It’s hard to go even a week without hearing news about climate change and its effects on life as we know it. It’s also hard to go a week without hearing about sustainable, eco-friendly products that have been introduced to help combat climate change.

Not only do these products play their part in helping to preserve our future, they’re also in high demand from buyers who understand how important they are. For this reason, selling environmentally friendly products can be a win-win: helping the world while running a profitable business.

In this article, we’ll look at some of the top sustainable products you can start selling today, in niches such as tech, pets, fashion, and personal care.

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1. Sustainable apparel

“Fast fashion” is a buzzword that haunts the most environmentally responsible fashionistas. The fashion industry has been known to use unethical and unsustainable practices to quickly produce cheap, low-quality clothing.

But “slow fashion” is here to combat that. You can source your entire supply chain with more mindful materials and practices that go farther than just using organic cotton. For example, you can source products locally, or use vegan …

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In: Retailing Tips|Last Updated:
Creating a More Sustainable Final Mile

The commerce landscape has changed dramatically since the e-commerce boom of 2020, leading to a new omnichannel environment. Consumers now have more options than ever before when it comes to how and where they shop. E-commerce channels allow them to deliver straight to their doorstep, in-store pickup, or secure pickup locations. However, this shift has come with some environmental costs, as many consumers are becoming increasingly concerned about the impact of their shopping habits.

According to a recent survey, 40% of consumers are concerned about the environmental impact of increased online shopping. Additionally, 66% believe it’s important for retailers to improve sustainability efforts. However, while consumers want to make more sustainable choices, they are often unsure how their shopping habits impact the environment. For example, 29% are uncertain about the environmental impact of online vs. in-store shopping.

Ultimately, the impacts of increased e-commerce spending are clear. The World Economic Forum predicts 36% more delivery vehicles will be in inner cities by 2030. Similarly, Accenture predicts a 32% increase in carbon emissions from urban delivery vehicles by 2030.

Reducing Final Mile Emissions

So, how can retailers reduce the environmental impact of e-commerce fulfillment? The starting point is in the final mile. …

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In: Retailing Tips|Last Updated:
Unmasking Imposter Syndrome for Better Business Relationships

A few years ago, I was moderating a training conference with the senior leadership of a small, emerging company. During the meeting, I asked the CEO to share a moment that had transformed how he now leads. This individual was truly loved, admired, and respected by the members of his team because he was known for inspiring others with both his head and his heart. His response to the question shifted the atmosphere immediately, bringing tears to some people’s eyes.

After a successful prior 10 years at a company, he had lost the support of his team and had grown apart from his boss. He recalled walking the city streets until 4 AM, feeling bewildered and empty as he assessed leaving the company because he felt he no longer fit the culture. Tears filled his eyes as he shared the story, recounting the feelings and stress it put on his family. He paused and shared, “That emotion is still with me.” It was a moment of truth and openness. Everyone recognized the authenticity of this remarkable leader because he had removed his mask.

Many of us have had these moments and empirically understand this feeling. It has been estimated that …

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In: Dropshipping|Last Updated:
What’s a Digital Creator? And How You Can Become One

If you’re tapped into today’s digital world, you’ve heard all about digital creators (also referred to as content creators). A lot of the conversation revolves around what they’re up to: things like what interesting new trends and issues they’re talking about, and how they’re engaging with their fans and partners.

Perhaps one of the most interesting conversations is how they’re making a living financially. It’s true that many of the top digital creators we see are making millions of dollars a year putting out content.

So how do they do it—and how can you get a piece of the action? Sit tight, because we’re going to cover it all. 

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What is a digital creator?

Digital creators are individuals who create online content and share it across various platforms. Their content may feature images, video, and even written text. Digital creators distribute their content across channels like TikTok and YouTube, as well as owned websites, to reach a greater audience.

In recent years, independent digital creators have had greater opportunities to earn money from the audiences they’ve cultivated around their content. They achieve this through brand partnerships, advertising, merchandise, and gated …

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