If you’re not making price changes today, you may not be in business tomorrow. That’s the stark reality of a market plagued by higher-than-normal inflation and supply chain issues. When cost outruns the shelf price, retailers who fail to keep …

Understanding how to effectively set prices could be intimidating for a new manager. Like many facets of retailing, pricing strategy is part art and part science. How a retailer sets prices will have a direct impact on the viability of …

If you’re like many managers, you may suffer from feedback phobia. It’s easy to tell employees “nice job” when they do something right, but it’s harder to ask them to fix something they’re doing wrong. Put off that conversation too …

Giving employees feedback about their job performance can be tricky waters to navigate for the inexperienced manager. Done correctly, kind and clear criticism can lead to growth and development. Mishandled, critical feedback can be a bad experience that divides a …

When you notice an employee doing an exceptional job or going above and beyond their normal duties, thank them. Let them know you notice and appreciate their efforts. You might even want to go a step further and offer a …

United Hardware retailers attending the cooperative’s Fall & Winter Buying Market had opportunities to learn about their company’s brand revitalization initiative, e-commerce platform and new options for creating stronger category solutions. The buying market, held June 23 – 25 at …

If you’re like most business-minded people, you have no shortage of ideas. Put on your retailer glasses and you might see opportunities everywhere. If the past couple of years have given you above average sales and you have money in …

For a strategic plan to effectively guide you into the future, it must take a comprehensive look at your business. The questions you ask about your business will be the starting point for knowing your strengths and weaknesses.  Robert Debs, …