Accounting & Bookkeeping for Retail

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4 Ways for Retailers to Stay Out of the Cash Flow Black Hole

A potential pitfall for any retailer is the time gap between paying the manufacturer for the merchandise you sell and getting paid for it by the customers you sell it to. When that interval lasts too long, cash on hand becomes all too scarce. Here are four smart strategies for staying out of the hole.

Micro-Influencers and Small Retailers: A Perfect Match

We’ve all seen A-list celebrities endorsing mega brands and stores. This marketing strategy’s price tag (up to $1 million for celebrities like Kim Kardashian) is far beyond the scope of most retailers’ budget, but there’s another way to get in on the endorsement bonanza: social media micro-influencers.

7 Steps for Retailers to Reduce Inventory Shrinkage

Inevitably, somewhere between the manufacturer and the cash register, some of your merchandise disappears. Every retailer has this problem; in fact, it adds up to more than $42 billion in annual losses nationwide. The three biggest causes of shrinkage are administrative errors, employee theft and customer theft. Here’s how to counteract them.

How Small Retailers Can Win Big Over Mega Stores

Cutthroat prices, huge inventory, massive advertising bucks — a small retailer is bound to feel like David going up against Goliath when competing with the big chains. But, like David, you can win the battle. The trick is to fight it on your ground, not theirs.