CrossCheck Blog

The National Retail Federation presents NRF Protect, a retail industry loss prevention (LP) conference, on June 26 – 28, 2017 in Washington, D.C. at the Gaylor National Resort & Convention Center. Billed as “the largest, most important retail and restaurant LP event in North America,” NRF Protect includes educational sessions and workshops, a tradeshow, an awards presentation, special-guest speakers and multiple networking opportunities.

Retail means building awareness according to the National Retail Federation (NRF). The organization advances “the interests of the retail industry through advocacy, communications and education” with a dedicated action center, resources on safety and other industry concerns, trending news and a nonprofit foundation. As the largest retail trade association worldwide, NRF represents and brings together a collective force of businesses from “Main Street merchants” to department stores, supplying retailers with the tools to stay informed on the latest issues and make positive differences within the industry.

In the words of character Carrie Bradshaw, “I like my money right where I can see it — hanging in my closet.” Following a post-recession aversion to spending, luxury retailer stores are beginning to see consumers loosen their purse strings, toss out old handbags and purchase new in-style replacements. With consumer confidence on the rise, specialty retailers are advised to stay ahead of the trends in customer services to retain and attract new revenue.

Adolescent boys have dreamed of playing guitar ever since Chuck Berry recorded “Johnny B Goode” in 1958. Of course, many teen girls now have those same aspirations. Whether they include plugging in and turning up the volume, or simply strumming an acoustic six-string, their visions are generally accompanied by numerous trips to the local music store and test driving an “ax.” Early visits to specialty retail music stores entail a lot of gawking and listening to other people play. In fact, there’s an excellent chance that one of the employees is a weekend guitar slinger in a local rock band. When business is slow, they might pick up a sunburst Fender Limited Edition Stratocaster with a rosewood neck and play a few bars — with gnarly volume and digital delay, of course — to an iconic guitar-hero song from any number of eras.

The combined $32.3 billion that Americans are predicted to spend this year for the Super Bowl and Valentine’s Day translates to increased profits for specialty retailers across the country. The data was produced by a cooperative effort of the National Retail Federation and Prosper Insights & Analytics.

The support group started right on time. About halfway through, apprehensively, I made my way to the podium. I felt the calling and it was my turn to confess. With all eyes on me, the walk down the middle aisle seemed miles long. I stood behind the podium, straightened the microphone, cleared my voice more than once, grabbed both sides of the podium, and gave in a higher power. "I'm a collector," I warbled. What a relief to have been on the first step to becoming a recovering collector. With that said, let the record reflect that I am not a hoarder!

More than 150 million shoppers participated in Black Friday and Cyber Monday sales this year, increasing retail sales dramatically. Online sales alone were estimated at nearly 3.07 billion dollars, a 16% increase from last year's numbers and the season isn't over yet. With big money at stake, you may want to gamble big, but there are some risks you shouldn't take — like guaranteeing your check payments. How do you keep your assets secure and momentum going while wearing the many hats that your business requires?

Specialty retail owners and managers who want an outstanding fall season might focus on this simple but ruthless truth: you're romantically involved with your customers, and getting a sale is like getting a date.

It's possible that researchers at Carnegie Mellon have gotten a little carried away with their analysis of sales psychology. They took brain scans while people were shopping and found out that when they decide to buy, their "insular cortex" activates:

Now that pending home sales have hit their highest level in nine years, building supply and landscaping nursery owners and managers may want to prepare for homeowners improving their property for sale. Today, selling a home requires that most homeowners consider their house as a commodity with a certain value that they must present in as attractive a light as possible – and you are the retail resource that can help them the most.