Ace Hardware Corporation’s Post

Dealers, prepare for big changes in how you run the retail side of your stores. Here are seven big ideas from the National Retail Federation's Big Show this week in New York. https://lnkd.in/eQhjNMds

Collaborating with local event venues to host closeout sales events on-site can be a strategic move for retailers looking to liquidate excess inventory. These events can create a sense of urgency and excitement among shoppers, driving higher foot traffic and sales. One benefit of hosting closeout sales at event venues is the potential for reaching new customers. Event venues often have their own following and can help promote the sale to their audience, expanding the retailer's reach. Additionally, the unique setting of an event venue can create a memorable shopping experience for customers, increasing the likelihood of repeat business. Another advantage is the flexibility in terms of space and layout. Event venues are typically equipped to handle large crowds, providing ample space for displaying products and accommodating a high volume of shoppers. This allows retailers to showcase their inventory in a way that maximizes visibility and accessibility, enhancing the overall shopping experience. Furthermore, collaborating with event venues can be a cost-effective way to host closeout sales. Instead of investing in a temporary pop-up shop or warehouse space, retailers can leverage the existing infrastructure of the event venue, potentially reducing overhead costs. Overall, collaborating with local event venues can be a mutually beneficial partnership that helps retailers liquidate excess inventory while offering customers a unique shopping experience. #wholesalebusiness #wholesaleprice #wholesaledistribution #wholesaledistributor #liquidation #liquidations #wholesale #wholesaler #retailbusiness #retailer #retail #resale #resellers #resellercommunity #reseller #reselling #productsourcing #closeout #overstock https://lnkd.in/eh92HvDn

Great example of how one brand's sales decision can have a detrimental impact on its overall perception and brand equity... Easier said than done, but ensuring that your GTM decisions (i.e. heavy discounting) in one channel don't negatively impact your overall #connectedcommerce strategy is increasingly important where both your retailer partners AND end customers are present across all on/offline platforms. Again, #connectedcommerce!

If you're thinking about running a liquidation sale in your store, you may have watched the anti-climactic liquidations of Nordstrom, Target, and Sears and thought "if a big box store can't make liquidation work, how can I?" To learn more about why these sales were so disappointing for both the store and the consumer, and how to avoid the same problems with your retail liquidation visit our website: https://lnkd.in/gq5AjM5r #Retail #RetailLiquidation #LiquidationLessons #Nordstrom #NordstromLiquidation #Target #TargetLiquidation #Sears #SearsLiquidation #SilvermanConsulting #SilvermanCanada

How Inventory Mismanagement can lead to bad business"📉 The untold stories behind the fall of Toys R Us, Circuit City, and Radio Shack. From bankruptcy declarations to failed comebacks, we unravel the hidden truths behind the demise of beloved brands. 🛍️ What happened to Toys R Us, Circuit City, and Radio Shack? 💻 Blaming ecommerce for their demise? Think again. 📉 Bankruptcy declarations: Circuit City (2008), Radio Shack (2015), Toys R Us (2017). 💼 Failed attempts at comebacks. 📦 Issues unrelated to online competition. 💡 The non-glamorous truth: inventory mismanagement. 📉 Circuit City's downfall: failure to forecast consumer trends. 💔 Stocking up on goods not in demand led to significant losses. Tune in to the full episode to learn the untold stories behind the downfall of retail giants. Join Rolando and Dave as they delve deep into the intricacies of inventory mismanagement and its devastating impact on these iconic brands! #RetailDemise #BehindTheScenes #TuneInNow 🎥

Retail floor space is for selling your products. So what do you do when you have a lot of inventory or overstock items? You can coordinate with your MI-BOX dealer to have your MI-BOX available on the same day your inventory is delivered. It can then be loaded into your stockroom and the excess can reside safely in your MI-BOX unit until you need it. #RetailStorage #BusinessStorage

With in-store revenue representing roughly 1/3 of sales, the challenge for C-Stores is not only to compete for customers for fuel but to move them from pump to store. Further, with many brands using a franchise model, visbility and compliance are additional challenges. Challenge: On brand, on message. No locations going rogue. Some in my local market are dealing better with these challenges than others. What is your favorite C-Store Brand and why? #Colateral- Profile, plan, do, and review (compliance) #retaildisplay #campaignmanagement

In the ever changing world of #retail product shrinkage is a major concern of both brands and retailers alike. In this article, we detail different options available to showcase products securely and safely on store displays. #FrankMayerMade #retaildisplays

“During an era of store retrenchment, the footprint and fortunes of TJX — which owns T.J. Maxx, Marshalls, Home Goods and other banners — have expanded widely. The retailer closed out the fiscal year with annual sales up 9% year over year to $54.2 billion.” “The retailer’s supply chain — which involves more than 1,300 buyers on its end and draws from a base of over 21,000 vendors, Herrman noted — is a source of competitive strength, S&P Global analysts noted in a report last April.” “The Telsey analysts also noted that TJX is doing 30% to 40% more business with most vendors compared to three or four years ago.” “Along with store closures, TJX has benefited from the macro climate in retail. As retailers and brands have worked to clean up their inventory, there have been plenty of acquisition opportunities for off-price retailers like TJX.” ““One indirect byproduct ... that’s happening with all the store closures is the importance to the vendor community keeps rising for our merchants amidst less brick-and-mortar competition, so to speak,” CEO Ernie Herrman said Wednesday on the company’s fourth quarter earnings call regarding Macy’s recently announced closures.” “Herrman also hinted at higher merchandise margins as other retailers’ store bases shrink and more vendors come to rely on TJX. “That is one of the things that probably will continue to allow us to buy a little bit better on an ongoing basis,” he said. “So it’s indirectly related to the store closure question.”” - Ben Unglesbee

Macy's store closures could spell gains for off-price retailers, with TJX Companies, parent of T.J. Maxx, poised to benefit significantly. Analysts predict a 'few billions of dollars' in potential sales shifting towards off-price giants as Macy’s trims its footprint. With a high overlap in customer base and store locations between Macy’s and TJX's T.J. Maxx and Marshalls, the off-price sector could see a further boost in market share, continuing its ascent in the retail landscape. Follow the link to read more! https://buff.ly/4atGX8X #RetailTrends #Macy’s #OffPriceRetail #TJX