Palmer Retail Solutions Blog

The Price You Pay for Cash Handling at Your Retail Store

Posted by Kathy Heil on Jan 16, 2019 3:18:29 PM

If every customer paid with a card, retailers would be happy. You see, handling cash at your business can actually cost you money. Think we’re exaggerating? Research from IHL Group reveals the true cost of cash for retail stores runs anywhere from 4.7% to 15.3%. That hurts, especially in retail, where margins are notoriously slender.

There are two distinct problems associated with handling cash. The obvious one is that cash is easy to steal. The not-so-obvious issue — and the one that is costing you the most — is the time you’re spending dealing with cash. IHL Group suggests that automating this process can help a store recoup as many as 500 labor hours each month. We thought that was certainly worth looking to, so we did. Here's what we found.

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Tags: Point of Purchase

How the Psychology of Store Layout Impacts Customers

Posted by Kathy Heil on Jan 11, 2019 11:21:12 AM

We know that color and music have a big impact on our shoppers, but what about store layout? Does your store layout really influence your customers? It does — in both positive and negative ways! Understanding the psychology of store layouts will not only attract more shoppers through your door, but it will also give them a memorable shopping experience and plenty of opportunities to pick up impulse items.

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Tags: Retail Experience, Customer Experience

Retail Trends That Harness Technology to Start the New Year Off Strong

Posted by Kathy Heil on Jan 3, 2019 11:39:17 AM

For years, technology has transformed the retail landscape, in large part because it created serious online competition. But now, technology is also transforming retail inside brick-and-mortar stores. The Internet of Things (IoT) is here — it’s everywhere. If you haven't started thinking about smart shelves, layout optimization, automated checkout, and beacons, it’s time you did.

And it turns out, many of the 2019 retail trends will harness the power of IoT.

The Internet of Things (IoT) refers to the fact that wireless technology can now power all sorts of physical devices, as long as they have an internet connection. Your smart home allows you to operate everything from your thermostat to the window blinds and front doorbell camera via your smartphone. Retailers are taking advantage of similar technology to give customers a far more tantalizing and personalized shopping experience and to more efficiently manage back-end operations.

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Tags: Retail Trends

Many Happy Returns: How to Manage Customer Returns

Posted by Kathy Heil on Dec 26, 2018 5:51:56 PM

For retailers, the post-holiday return rush can be almost as overwhelming as the initial sales action. So, it may be difficult for you to use the words “happy” and “returns” in the same sentence. But, rejoice! With a new outlook on customer returns and a new approach in place, you and your customers will indeed be happy.

Returns are inevitable. Yes, some people are simply hard to please, but holiday sales are about gift-giving. No surprise, then, that the gifted item is the wrong size, color, style or — seriously, Aunt Marge? — wrong in every way.

But returns don’t have to be a pain, for customers or for your store. You can transform returns from a dreaded negative into an experience so positive it generates new sales and brand advocates. Here are a few tips to manage customer returns.

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Tags: Customer Experience

The Best Location for A Cash Wrap Counter

Posted by Kathy Heil on Dec 19, 2018 3:20:54 PM

Deciding on the best location for your cash wrap counter is one of the most important decisions you’ll make as a retailer. You want to ensure cash wraps are conveniently located and easy to find, whether you have just one or several throughout your store. But you don’t want to give up your most valuable sales space. So, where is the best location?

Typically, the best location for your cash wrap is 12–20 feet inside the exit to the left. Of course, the exact location depends on a number of factors. Here are five things to consider when choosing the best location for your cash wrap and the best way to configure it.

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Tags: Cash Wraps

Planogram 101: The Ultimate Guide to Store Design

Posted by Kathy Heil on Dec 12, 2018 10:28:37 AM

Store design and visual merchandising work together to sell your products but only if you arrange things strategically. A planogram is the centerpiece of that effort. It organizes your store so people can find products, and it helps you place items where they will attract the most attention and tempt customers to buy more.

A well-designed planogram can boost sales, cut costs, and improve your customer's overall experience. Of course, it helps to know your customer, and know something about buying behavior.

Here's the 101 on planograms.

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Tags: Store Layout

Tips to Turn Mall Foot Traffic Into Kiosk Customers

Posted by Kathy Heil on Dec 5, 2018 11:36:10 AM

One of the most challenging aspects of the mall kiosk business involves engaging with customers. So far, our series on mall kiosks has discussed how to get started in the business, how to pick the right size for your kiosk and how to keep your merchandise secure. Now let’s talk about the human side of your business – turning the foot traffic swarming all around you into mall kiosk customers.

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Tags: Kiosks

8 Retail Stockroom Organization Methods to Improve Productivity

Posted by Kathy Heil on Nov 28, 2018 3:45:43 PM

If your retail stockroom is messy or poorly organized, you can lose track of inventory and lose sales, too.

It’s time to take stock, as they say, and get that stockroom organized, so you can be less frustrated and more productive. Even if your inventory storage area is quite small, you can make maximum use of it if you plan carefully. Here are some organization methods for your stockroom.

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Tags: Retail Trends, Store Displays and Fixtures

5 Tips to Make Your Storefront Stand Out

Posted by Kathy Heil on Nov 14, 2018 12:09:28 PM

Whether it’s on the street or in the middle of a mall, you want your storefront to stand out from your neighbors. Your prosperity depends on attracting customers, so your storefront design has to capture their attention and inspire them to visit. But, especially if you’re a smaller face in the crowd, how do you make that happen? Follow these five tips to make sure your storefront captures customers’ attention.

Use Creative Signage

Your store signs help people find your business, introduce you to prospective customers, and promote your shop, but your signage can be much more than a simple colored logo.

LED or electronic signs add extra zest and movement, something you can use in window displays as well as for your primary signage.

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Tags: Customer Experience, Retail Experience

Creative and Profitable: 5 Tips for a Successful Kiosk Design

Posted by Kathy Heil on Nov 7, 2018 10:50:56 AM

You’ve decided on the perfect products or service for your kiosk. You just know people will love what you have to offer. But how can you get them to notice your kiosk and step up for a closer look? It takes creative design to catch the eye of distracted mall shoppers and inspire them to engage with you. Here are some tips on how to build a kiosk that sells.

1. Purpose-Driven Design

Are you going to be selling hot food? Cell phones and accessories? Scarves? Beauty products? Customize your kiosk’s design so it is both functional and visually compelling. Keep in mind that a successful kiosk design works for you as well as customers. As a free-standing “store,” you’ll need space to efficiently store supplies and backup inventory.

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Tags: Kiosks