CrossCheck Blog

As we see it today, there are three major industry disruptions confronting our auto dealer merchants: plug-in vehicles and alternative powertrains, gas price fluctuation, and threats to the dealership model. Plug-Ins Drivers of plug-in vehicles can be considered the least economically motivated and most ecologically-minded on the road. Clearly, there is consistent, rising demand shown in the graph below. So much so that auto dealers sold 37% more plug-in vehicles in the first six months of 2014 than they did in 2013. Looking at California alone, drivers doubled their plug-in purchases from 2012 to 2013, totaling over 42,000 plug-ins (and 2014 numbers are expected to drastically increase as well).

Dictionary.com defines ‘trend’ as something being “currently popular” – and is especially applicable in the fashion and design industries. By their very nature, trends come and go and it’s your job as a manager to anticipate what customers want when ordering inventory, and ultimately maximizing sales to your bottom line. This is true whether you run a retail store or independent home furnishings outlet. As we near the end of 2014, let’s take a look at what is likely to trend in 2015:

If you’re looking for where you can get free check verification for your business you should know right up front that we haven’t found it either, for the simple reason that legitimate check verification services are not free.

With all the bright colors, improving technology features, and lofty price tags; it comes as no surprise that electronics are the most heavily showroomed items by consumers.

Have you ever been frustrated to get a red-alert email or call from your bank warning you of credit card fraud? I have, and while I am grateful for the precautionary steps the bank took in order to protect my account, it’s frustrating at the same time. First, because I was the victim of fraud. And second, because when they issue me a replacement card I have to re-save the new card information with all the online merchants I do business with.

A recent Gallup poll showed that 40% of Americans have showroomed at least once in some form or another, and brick-and-mortar stores may be losing 1 out of 10 customers due to showrooming. Helping contribute to this profit-killing practice is the proliferation of cell phone usage while shopping. Consider the following statistics from the Federal Reserve as they relate to cell phone usage and showrooming:

Running a motorcycle or power sports dealership is no easy task as you have to be aware of industry trends, manage employees, and understand an all-important accounting concept, FIFO (First In, First Out). For you to work this concept best, the bikes that get delivered first should be sold first. By its very nature doing this measures how many times your total inventory is sold in a given time period, which can be an excellent metric to track as the economy recovers. This approach keeps new in-demand bikes moving out the door so you have the opportunity to replenish them.

After 30 years in the check processing industry we have certainly seen many trends come and go. Just 10 years ago who would have thought that customers would swipe their “smart” phone over a payment terminal to complete a transaction? Back then nobody knew what smart phones were, let alone the still-nascent Near Field Communications (NFC) technology.