Regional Consumer Sales – Emergency Services – Dry Ice Corp #retail #outlets


#dry ice retailers

#

Regional Consumer Sales Emergency Services

Hazleton Bloomsburg, PA Region

Penn Mobile provides dry ice supply via preorder program for the Hazelton Bloomsburg, PA region
Order by 9:00 am on Friday for pickup in Ringtown on Mondays after 12:00 pm
Order by 9:00 am on Wednesday for pickup in Ringtown on Thursdays after 12:00 pm

Metro New York Region

Dry Ice Corp New York, NY.
34-52 Laurel Hill Boulevard
Maspeth, NY 11378
Phone: 718-392-9300

Hours: Monday Friday 5:00am 2:00pm
Emergency Services: Yes 24/7 pickup only
Emergency Delivery: Yes If prearranged

United City Ice Cube Co.
503 West 45th Street
New York, NY 10036
Phone: 212-563-0819
Fax: 212-397-0805
www.unitedcityicecube.com

Emergency Services: Yes

Emergency Delivery: Yes

American Compressed Gases
Rockland/New Jersey
316 Route 304
Bardonia, NY 109543
Phone: 845-623-8066

  • Home
  • About Us
  • Dry Ice Applications
  • Products
  • Product Brochures
  • Emergency Services
  • Severe Weather
  • Branches
  • Contact Us
  • Links
  • Purchase / Custom Quotes
  • Policies
  • Blog

Copyright 2016 – Dry Ice Corp. All Rights Reserved. 189 Central Avenue Old Tappan, NJ 07675 – Ph: 201-767-3200 Fx: 201-767-6554

Maryland – Washington, DC: Baltimore – Aberdeen – Frederick – Gaithersburg – Rockville – Annapolis

Northern Virginia: Alexandria, Chantilly, Reston, Vienna, McLean

Delaware: Wilmington – Newark – Dover

Pennsylvania: Philadelphia – York – Harrisburg – Lancaster – Reading – Allentown – Scranton – Wilkes-Barre

New Jersey: Camden – Trenton – New Brunswick – Perth Amboy – Edison – Elizaberth – Rahway – Newark – Jersey City – Paterson – Gibbstown

New York: New York City – Staten Island – Brooklyn – Manhattan – Bronx – Queens – Yonkers – Long Island – Maspeth – White Plains – Newburgh – Poughkeepsie – Albany

Connecticut: Bridgeport – Stamford – New Haven – Branford – Wallingford – Danbury – Hartford, Norwich – New London – Groton

Rhode Island: Providence

Massachusetts: Cambridge – Boston – Cape Cod – New Bedford – Worcester – Rockland – Framingham – Brookline – Lowell – Peabody – Lynn


Retail sales fall again, end 2015 with whimper #online #promo #code


#retail sales

#

Retail sales fall again, end 2015 with whimper

A worker gathers items for delivery from the warehouse floor at Amazon s distribution center.

WASHINGTON (MarketWatch) — Sales at U.S. retailers fell slightly in December, as 2015 recorded the slowest pace of gains since 2009.

Retail sales dropped a seasonally adjusted 0.1% last month, the Commerce Department said Friday. Economists polled by MarketWatch had forecast a 0.2% decline.

For all of 2015, retail sales grew just 2.1% even though job creation remained strong and more people earned an income. By contrast, sales expanded by an average rate of 5.1% from 2010 through 2014.

Much — but not all — of the year’s weakness in sales can be explained by plunging gasoline prices. Sales at gas stations, for instance, sank 1.1% in December following a 1.3% decline in November.

Still, overall sales in 2015 were on the softer side, at least in dollar terms, even after gas is stripped out. Sales minus gasoline rose a lackluster 3.9% last year despite record purchases of new autos.

“People just aren’t spending their dollars like they used to,” said Steve Blitz, chief economist at ITG Investment Research.

Sales were particularly weak at department stores and outlets that sells electronics and appliances. Department stores saw a 2% drop in sales last year while electronics retailers like Best Buy Co. BBY, -0.05% posted a 2.5% decline.

The tougher sales environment faced by big-box stores was illuminated on Friday when market leader Wal-Mart said it would close 154 locations in the U.S. as part of a global retrenching.

Clothing and grocery stores also experienced weak sales growth in 2015. Apparel outlets were hurt late in the year by unseasonably warm weather.

Yet some segments of the retail industry performed well, particularly ones that sell so-called discretionary goods whose sales usually rise when the economy is pretty healthy. They include Internet sites, home furnishers and stores that sell sporting goods.

More Americans are buying goods online than ever before, and a pickup in home sales has aided retailers that sell products needed to furnish them. And 2015 was a banner year for bars and restaurants: sales jumped 8.1% compared to the prior year.

Strong sales at restaurants is an especially positive sign. People go out to eat more when they are more confident about their job security and personal finances.

Another sign of improvement in the economy was the continued surge in auto sales. Although shoppers bought fewer new cars and trucks in December than they did in November, the number of new autos sold in 2015 hit a record high.

So what explains the overall weakness in sales excluding gas? Some economists cite the shift to nontraditional forms of spending, such as the growing use of gift cards and more online purchases not captured by the government.

Others suggest that rising rents and health-care costs are soaking up a great share of household income, though robust spending at restaurants would suggest consumers aren’t as pinched financially as they were a few years ago.

Whatever the case, the slower pace of retail sales in the final month of 2015 is likely to constrain the economy’s growth rate in the fourth quarter.

A measure used to help determine U.S. gross domestic product, known as core retail sales, fell 0.3% in December to erase much of the 0.5% gain in November. Core sales strip out gas, autos, building materials and grocery stores.

For the full year core sales rose a mediocre 2.4%.

Related Topics

Copyright 2016 MarketWatch, Inc. All rights reserved.

Intraday Data provided by SIX Financial Information and subject to terms of use. Historical and current end-of-day data provided by SIX Financial Information. Intraday data delayed per exchange requirements. S P/Dow Jones Indices (SM) from Dow Jones Company, Inc. All quotes are in local exchange time. Real time last sale data provided by NASDAQ. More information on NASDAQ traded symbols and their current financial status. Intraday data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. S P/Dow Jones Indices (SM) from Dow Jones Company, Inc. SEHK intraday data is provided by SIX Financial Information and is at least 60-minutes delayed. All quotes are in local exchange time.

Stocks

Columns

Authors

Topics

No results found

LatestNews


Retail Sales Math Formulas and Equations #online #retailing


#retail sales

#

Retail Math Formulas

Updated September 16, 2016

Retail math is used in various ways by store owners. managers, retail buyers and other retailing employees. It is used to evaluate inventory purchasing plans, analyze sales figures, add on markup and apply markdown pricing to plan stocks .

Although there are computer programs and other tools available, performing these retail math calculations often requires familiarity with formulas. Use the following equations and retail math formulas to track merchandise, measure sales performance and help create pricing strategies.

Acid-Test Ratio

This is a measurement of how well a business could meet its short-term financial obligations if sales suddenly stopped. The purpose of this calculation is to determine how easily a company could be liquidated, and helps financial institutions determine creditworthiness. The easier it is to liquidate. the less risk to the bank or financial institution.

Acid-Test Ratio Current Assets – Inventory ÷ Current Liabilities

Average Inventory

This can be figured by taking an item price and subtracting discounts, plus freight and taxes. The average is found by adding the beginning cost inventory for each month plus the ending cost inventory for the last month in the period. If calculating for a season, divide by 7. If calculating for a year, divide by 13.

Average Inventory (Month) (Beginning of Month Inventory End of Month Inventory) ÷ 2

Basic Retailing Formula

Cost of Goods Markup Retail Price
Retail Price – Cost of Goods Markup
Retail Price – Markup Cost of Goods

This is the point in your retail business where sales equal expenses. There is no profit and no loss.

Break-Even ($) Fixed Costs ÷ Gross Margin Percentage

This is the difference between total sales revenue and total variable costs. In retail, the Gross Margin Percent is recognized as the Contribution Margin Percent.

This is useful information for deciding whether to add or remove products and make pricing decisions.

Contribution Margin Total Sales – Variable Costs

Cost of Goods Sold

This is the price paid for a product, plus any additional costs necessary to get the merchandise into inventory and ready for sale, including shipping and handling.

COGS Beginning Inventory Purchases – Ending Inventory

Gross Margin

This is simply the difference between what an item cost and the price for which it sells.

Gross Margin Total Sales – Cost of Goods

Gross Margin Return on Investment (GMROI)

The GMROI calculations assist buyers in evaluating whether a sufficient gross margin is being earned by the products purchased, compared to the investment in inventory required to generate those gross margin dollars.

GMROI Gross Margin $ ÷ Average Inventory Cost

Initial Markup

Initial Markup, or IMU. is a calculation to determine the selling price a retailer puts on an item in his store.

Initi al Markup % (Expenses Reductions Profit) ÷ (Net Sales Reductions)

Inventory Turnover (Stock Turn)

This is calculated by determining how many times during a given period that a business sells its inventory and replaces it.

Turnover Net Sales ÷ Average Retail Stock

Margin

This is the amount of gross profit a business earns when an item is sold.

Margin % (Retail Price – Cost) ÷ Retail Price

Markup

This is a percentage added to the cost of an item to get the retail selling price.

Markup $ Retail Price – Cost
Markup % Markup Amount ÷ Retail Price

Net Sales

Net sales is revenue with any returns and allowances subtracted. Net income any income after subtracting taxes, interest expenses. and depreciation.

Net Sales Gross Sales – Returns and Allowances

Open to Buy

OTB is the difference between how much inventory is needed and how much is actually available. This includes inventory on hand, in transit and any outstanding orders.

OTB (retail) Planned Sales Planned Markdowns Planned End of Month Inventory – Planned Beginning of Month Inventory

Sales per Square Foot

The sales per square foot data is most commonly used for planning inventory purchases. It can also roughly calculate return on investment and it is used to determine rent on a retail location. When measuring sales per square foot, keep in mind that selling space does not include the stock room or any area where products are not displayed.

Sales per Square Foot Total Net Sales ÷ Square Feet of Selling Space

Sell-Through Rate

This figure is a comparison of the amount of inventory a retailer receives from a manufacturer or supplier to what is actually sold .

Sell-Through % Units Sold ÷ Units Received

Stock to Sales Ratio

This calculates the beginning of the month stock to the amount of sales for the month.

Stock-to-Sales Beginning of Month Stock ÷ Sales for the Month


China: retail sales 2016 #retail #hr #jobs


#retail sales

#

Retail sales in China 2009-2016

Retail sales in China from 2009 to 2016 (in billion U.S. dollar)

This graph shows the development of retail sales in China from 2009 to 2012, with a forecast until 2016. In 2011, total retail sales volume in China had amounted to approximately two trillion yuan.

Retail sector in China – additional information

China has become one of the world’s most lucrative and rapidly growing retail markets. By 2015, total retail sales in China are estimated to increase by 12.8 percent compared to the previous year. Booming retail sales in China are mostly driven by the steady rise of private income. In 2013, per capita annual income of urban households in China had amounted to 29,547 yuan, reaching a near four-fold raise compared to the annual incomes of ten years earlier.

Due to large regional income disparities, purchasing power in China varies greatly. In 2013, average consumption expenditure of Chinese urban households had amounted to 22,880 yuan, whereas consumption spending in rural households had ranged at only one third of urban expenditure. In 2012, both urban and rural households in China had spent the largest proportion of their income on food, 35 percent and 38 percent respectively.

Unlike in the United States, where big retailers dominate the market, China’s retail market is highly fragmented. As of 2013, there were 80,366 retail enterprises in China. Another feature of China’s retail market is the flourishing e-tailing. China has become the world’s second-largest e-commerce market, with online retail sales reaching about 1.8 trillion yuan in 2013. China’s largest e-commerce company, Alibaba Group. had generated approximately 76.2 billion yuan in revenue during its fiscal year 2015 ending March 31, 2015.


US retail sales down 0 #pos #retail #software


#retail sales

#

Markets jarred by surprisingly weak retail sales

U.S. retail sales unexpectedly fell in June as households cut back on purchases of automobiles and a range of other goods, which could raise concerns the economy was slowing again.

The Commerce Department said on Tuesday retail sales slipped 0.3 percent last month, the weakest reading since February. May’s retail sales were revised down to show them rising 1.0 percent instead of the previously reported 1.2 percent jump.

Economists polled by Reuters had forecast retail sales rising 0.2 percent last month.

Retail sales excluding automobiles, gasoline, building materials and food services dipped 0.1 percent after an unrevised 0.7 percent increase in May.

These so-called core retail sales correspond most closely with the consumer spending component of gross domestic product.

Coming on the heels of June’s disappointing employment report and sharp drop in small business confidence, the weak retail sales data suggests the economy might have lost some momentum at the end of the second quarter, having struggled at the start of the year.

The soft data could cast doubts on a possible September interest rate hike from the Federal Reserve.

Economists had forecast core retail sales rising 0.4 percent.

Sales last month were broadly weak, with receipts at auto dealerships falling 1.1 percent after rising 1.8 percent in May. Clothing stores sales dropped 1.5 percent, the largest decline since September 2014.

Receipts at building material and garden equipment stores fell 1.3 percent and sales at furniture stores declined 1.6 percent, the biggest drop since January last year.

There were also declines in sales at online stores and at restaurants and bars. Rising gasoline prices supported sales at service stations, where receipts rose 0.8 percent.

Sales at electronics and appliance stores rose 1.0 percent, the biggest rise since September.

“The immediate reaction in Treasurys – a rally – seems appropriate however we aren’t sure the drop in sales changes the larger narrative from the Federal Reserve’s standpoint,” Dan Greenhaus, chief strategist at BTIG, said in a statement. “The consumer isn’t very strong and by extension, neither is the U.S. economy. Today’s report doesn’t alterthat view in any respect.”

CNBC contributed to this report.


US retail sales dip in Feb; Barclays slashes GDP view #river #island #jobs


#retail sales

#

US retail sales dip in Feb.; Barclays slashes GDP view

U.S. retail sales fell less than expected in February, but a sharp downward revision to January’s sales could reignite concerns about the economy’s growth prospects.

The Commerce Department said on Tuesday retail sales dipped 0.1 percent last month as automobile purchases slowed and cheaper gasoline undercut receipts at service stations.

January’s sales were revised to show a 0.4 percent decline instead of the previously reported 0.2 percent increase. Economists polled by Reuters had forecast retail sales slipping 0.2 percent in February.

Following the data release, Barclays cut its U.S. GDP forecast to 1.9 percent from 2.4 percent.

Retail sales excluding automobiles, gasoline, building materials and food services were unchanged after a downwardly revised 0.2 percent increase in January. These so-called core retail sales correspond most closely with the consumer spending component of gross domestic product and were previously reported to have risen 0.6 percent in January.

Last month’s weak reading, together with January’s modest gain, suggest that consumer spending will probably remain tepid in the first quarter after growing at a 2.0 percent annualized rate in the fourth quarter.

The report came as Federal Reserve officials prepared to gather for a two-day policy meeting. The U.S. central bank is expected to leave interest rates unchanged as policymakers monitor developments on global financial markets, domestic inflation and the labor market.

The Fed hiked its benchmark overnight interest rate in December for the first time in nearly a decade.

A 4.4 percent drop in the value of sales at service stations weighed on retail sales last month. Gasoline prices dropped 9 percent in February, according to the U.S. Energy Information Administration, as oil prices fell further.

Retail sales were also hurt by a 0.2 percent fall in sales at auto dealerships. Auto sales declined 0.2 percent in January.

Clothing store sales rose 0.9 percent last month. Receipts at building materials and garden equipment stores gained 1.6 percent, while sales at furniture stores fell 0.5 percent.

Sales at sporting goods and hobby stores rose 1.2 percent and sales at restaurants and bars increased 1.0 percent. Receipts at electronics and appliance stores slipped 0.1 percent. Online store sales dropped 0.2 percent.


United States Retail Sales MoM #retail #math #formulas


#retail sales

#

U.S. Retail Sales MoM

Retail Sales measure the change in the total value of sales at the retail level. It is the foremost indicator of consumer spending, which accounts for the majority of overall economic activity.

A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.

U.S. Retail Sales MoM

Oct 14, 2016 (Sep)

Sep 15, 2016 (Aug)

Aug 12, 2016 (Jul)

Jul 15, 2016 (Jun)

Jun 14, 2016 (May)

May 13, 2016 (Apr)

News

Investing.com – U.S. oil rose on Monday, and managed to stay above the $50 a barrel threshold as investors continued to eye the details of a planned output cut by the Organization of the Petroleum.

Investing.com – The dollar slipped lower against the other major currencies on Monday, pulling away from a seven-month high ahead of U.S. data, although hopes for a 2016 U.S. rate hike still lent.

Investing.com – European stocks edged lower on Monday, amid growing expectations for a U.S. rate hike before the end of the year and as investors eyed the release of euro zone inflation data later in.

Analysis

By Kathy Lien, Managing Director of FX Strategy for BK Asset Management. Over the past week, forex traders were focused on divergences in monetary policy. We learned that the Bank of Canada is.

GBP/USD is almost unchanged in the Wednesday session, as the pair trades just below the 1.23 line. On the release front, it s a busy day. The UK released key employment numbers, with the Average.

USD/CAD has posted slight losses on Wednesday, as the pair trades at 1.3080. On the release front, the Bank of Canada will set its benchmark interest rate and release a rate statement. As well, BoC.

Retail Sales (MoM) Discussion

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we ve all come to value and expect, please keep the following criteria in mind:

  • Enrich the conversation
  • Stay focused and on track. Only post material that s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  • Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE. Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com s discretion.

I have read Investing.com’s comments guidelines and agree to the terms described.


Retail Sales in U #disney #retail #stores


#retail sales

#

Retail Sales in U.S. Decrease to End Weakest Year Since 2009

Sales at U.S. retailers declined in December to wrap the weakest year since 2009, raising concern about the momentum in consumer spending heading into 2016.

The 0.1 percent drop matched the median forecast of 84 economists surveyed by Bloomberg and followed a 0.4 percent gain in November, Commerce Department figures showed Friday in Washington. For all of 2015, purchases climbed 2.1 percent, the smallest advance of the current economic expansion.

The slowdown, including electronics stores, clothing merchants and grocers, indicates Americans probably preferred to sock away the savings from cheaper fuel instead of splurging during the holiday season. While hiring has been robust in recent months, faster wage gains remain elusive, one reason household spending may have a tougher time accelerating as the new year gets under way.

“There isn’t anything encouraging in this report,” said Thomas Simons, a money-market economist at Jefferies Group LLC in New York. “It’s very disappointing. The labor market is in good shape, which suggests the outlook is probably better than this.”

Estimates in the Bloomberg survey for retail sales ranged from a decline of 1 percent to a 0.3 percent advance. The November tally was revised up from a previously reported 0.2 percent increase.

Weak 2015

The increase for all of 2015 followed a 3.9 percent gain the prior year. It was the smallest advance since demand slumped 7.4 percent in 2009, when the recession ended in June of that year.

A separate report from the Labor Department showed inflation remained contained at the wholesale level. The producer price index decreased 0.2 percent in December from the prior month and was down 1 percent year-over-year.

The retail sales report showed six of 13 major categories showed declines in demand in December from the prior month, with a 1 percent slump at general merchandise stores that was the biggest since February, the report showed.

Receipts at gasoline stations dropped 1.1 percent. The Commerce Department’s retail sales data aren’t adjusted for prices, so lower fuel costs depress filling-station receipts.

Regular gasoline at the pump has dropped to a seven-year low, falling below $2 a gallon this week to reach $1.93 on Thursday, according to AAA, the biggest U.S. motoring group.

Clothing, Electronics

The retail report also showed sales decreased 0.9 percent at clothing chains and 0.2 percent at electronics stores.

Automobile dealers’ sales were little changed.

Industry figures earlier this month showed purchases of cars and light trucks came in at a 17.2 million annualized rate in December, the slowest since July, after an 18 million pace the prior month, according to Ward’s Automotive Group. Even so, industry sales data shows 2015 was a record year for automakers.

The figures used to calculate gross domestic product, which exclude categories such as food services, auto dealers, home-improvement stores and service stations, unexpectedly dropped 0.3 percent, the biggest decrease since February, after the prior month’s 0.5 percent increase in the so-called retail control group that was smaller than previously estimated.

Warm December

Warmer than usual weather last month probably curtailed purchases of winter gear including clothing. This was the warmest December on record for the contiguous U.S. according to the National Oceanic and Atmospheric Administration.

Some economists may lower estimates for fourth-quarter gross domestic product and consumer spending following the retail sales results. The median forecast in a Bloomberg survey shows household purchases rose at a 2.2 percent annualized rate from October through December, after a 3 percent pace in the prior three months.

Recent reports had signaled the November-December holiday season was a mixed one for retailers. Same-store sales fell in the two months for chains ranging from Macy’s Inc. to Best Buy Co. while those who snagged an increase included J.C. Penney Co. Same-store sales for the industry as a whole account for about 17 percent of total retail sales, which make up almost half of consumer spending.

Beige Book

“Growth of consumer spending ranged from slight to moderate in most Districts,” according to the Federal Reserve’s Beige Book economic survey based on reports from late November to early January by regional Fed banks. “Auto sales were somewhat mixed, as activity has begun to drop off from previously high levels in some Districts.”

Employers added 292,000 workers in December and payrolls for the previous two months were revised higher, the Labor Department reported last week. The jobless rate held at a more than seven-year low of 5 percent. Wages stagnated, with average hourly earnings unchanged from November and up 2.5 percent from a year earlier. They’ve been in the 2 percent range since the expansion began in 2009.

Before it’s here, it’s on the Bloomberg Terminal. LEARN MORE


Retail Sales Definition #value #retail


#retail sales

#

Retail Sales

What are ‘Retail Sales’

Retail sales are an aggregated measure of the sales of retail goods over a stated time period, typically based on a data sampling that is extrapolated to model an entire country. Measuring consumer demand for finished goods, retail sales help gauge the pulse of an economy and its projected path toward expansion or contraction. As a leading macroeconomic indicator, healthy retail sales figures typically elicit positive movements in equity markets.

VIDEO

Loading the player.

BREAKING DOWN ‘Retail Sales’

In the United States, retail sales are a monthly economic indicator. The retail sales report, compiled and released by the Census Bureau and the Department of Commerce. covers the previous month, and is released about two weeks after the month-end. Comparisons are made against historical data; year-over-year comparisons are the most-reported metric because they account for the seasonality of consumer-based retail.

Behind the Retail Sales Report

The retail sales report captures in-store sales as well as catalog and other out-of-store sales. The report also breaks down sales figures into groups such as food and beverages, clothing and automobiles. The results are often presented two ways: with and without auto sales being counted, because their high sticker price can add extra volatility to the data.

Retail sales figures are vital to stock investors as a whole, and especially to those who directly invest in retail companies. they are also a big component of the total gross domestic product (GDP) in the United States, so any extended drop-offs in retail spending can trigger a recession by lowering tax receipts and forcing companies to reduce head counts.

As far as broad economic indicators go, the ail sales report is one of the timeliest, providing data that is only a few weeks old. Individual retail companies often give their own sales figures around the same time per month, and their stocks can be very volatile around this time as investors process the data.

Retail Sales and the U.S Economy

Known as a key leading economic indicator, retail sales reports reflect statistics culled from 5,000 retail outlets and food service entities. With consumer spending accounting for approximately two-thirds of GDP, retail sales are viewed as a major driver of the economic health of a nation.

May 2016 retail sales were about $455 billion. The figure represents a 0.5% increase from April 2016 and a 2.5% increase over May 2015 figures. The May 2016 results came in higher than economists’ forecasts of 0.3%. Subsequently, better-than-expected retail sales results have prompted an expectation that U.S GDP growth estimates may be raised from the 2.5% annual projection currently fostered by economists.

Online retail purchases grew 1.3% over April 2016. Largely based on the growing popularity of retailers such as Amazon.com, Inc. sales from the cyber-segment reflected a 12.2% increase over May 2015. By contrast, weakness in traditional department stores continued. Sales fell by 5.8% over May 2015 figures as companies such as Macy’s, Inc. continue to close locations in the wake of a declining number of shoppers.


Eight mistakes that kill your retail sales training #nada #retail #value


#retail sales training

#

Eight mistakes that kill your retail sales training

You’ve only got one shot at training new hires. One. You can’t go back.

Whatever skills and attitude you instill in sales training affects how employees will approach their job with you forever.

That’s why top-notch retail sales training focuses not on the investment but on the long-term ROI on your staff’s abilities to move your merchandise.

Over the years, I’ve seen some common breakdowns in retail sales training programs that ruined their effectiveness. Fortunately, they’re easily avoided with a little insight and refocus.

Mistake #1: Dumbing the sales training down. Treating sales training like a kindergarten class is the #1 way to kill employee motivation.

Your Fix: Assume your sales team is capable of the sales skills you expect from them. First, focus on fundamentals: instilling right attitudes, teaching a process to sell and then practicing those skills so they can truly be your brand ambassadors.

Mistake #2: Complicating sales training. Your sales training program only has to do 3 things:

  • Convey your company brand, personality, and culture through building rapport
  • Show how to lead customers to products they might also want
  • Show how to lead customers through to purchase.

Your Fix: The best sales training programs are simple and elegant. Developing practical skills application is far more important than loading employees down with information they’ll never remember. Focus on training them to take 100% ownership for each customer who walks through your door.

Mistake #3: Flooding trainees with content. This is another over-complication of sales training. It’s good to have visual materials. Many people learn best by reading. But when your new reps hit the floor, they won’t have a textbook to crack open.

Your Fix: It’s far more important that your team develops confidence and composure while communicating. Interactive, practical sales training is the only way to build those real-time skills.

Mistake #4: Obsessing over scripts. You already know this: people buy out of emotion. If customers are in your brick and mortar store, it’s because they want to be there. The more your sales team builds their trust, the more likely they are to buy. Not only that – they’ll feel great and rave about you to all their friends. However, encountering a salesperson incapable of interacting without a script is a total turn-off.

Your Fix: All sales people need to have general scripts to rely on. Think of a training script as the backbone that holds customer interaction through the five parts to a sale, but the salesperson must personalize it and make the process seem effortless in order for scripts to be effective. It’s more important that your team has a good grasp on the process of leading someone through to making happy purchases. Creating interactive exercises where they develop scenario-based personalities and confidence are in order.

Mistake #5: Creating meaningless acronyms. Acronyms are a great trick to aid memory. But having irrelevant (or flat-out lame) acronyms aren’t. M-A-G-I-C is good if it is a meme employees easily remember, but memorizing the meme to be able to recite it is just a waste of their talents.

Your Fix: Focus on coming up with superb memory-assisting tools, like practical-application drills, step-by-step orderly processes and engaging visual aids.

Mistake #6: Treating trainees like prisoners. History recap: The Industrial Revolution gave rise to training disciplines based on inputting information and regurgitating it for a test, essentially treating people like machines.

Fast forward to 2012: many companies still work under this paradigm. They mistakenly use techniques like locking new hires up in a training room, isolated from the world. Or sitting them in front of a monitor, “learning” information online with no real interaction with humans.

Your Fix: Understand that retail is about building trust and rapport between staff and customers. That’s a relational process. Everything else is secondary. Don’t teach your team to have the forced, obedient-drone attitude of Industrial Era factory workers. Get them interacting, practicing and having fun selling your products instead. We’re becoming a species at home in front of a screen typing or viewing all kinds of virtual life. If your employees are to work with the public, you just might have to teach them how to be human.

Mistake #7: Throwing them to the wolves. It’s tempting to just toss new hires out on the floor, to flub their way through interactions while a trainer hovers over their shoulder. That approach is great in theory. In reality, it alienates customers. It ties up floor staff, and leaves best new hires unmotivated; they’re embarrassed to learn in front of strangers.

Your Fix: Set up designated sales training areas. Be willing to invest time, energy and resources into creating a stellar learning environment.

Mistake #8: Not having a superb trainer. You might have the most brilliant sales-training program in the world. But if your sales trainer, the one making that training real, actionable, fast-paced and fun is a lump of coal, you’re going to make little lumps of coal of your trainees. If your trainees are treated as “nothing special,” that feeling will rub off on your customers too, leaving them feeling like “they’re nothing special” also.

Your Fix: Humans are hard-wired to imitate each other. As a sales trainer, your job isn’t just to disseminate information. It is your responsibility to breathe confidence into your team and to deliver energy and attitude aligned with your brand personality. A superb retail trainer accepts 100% ownership and responsibility.

Bob Phibbs / Bob Phibbs, the Retail Doctor, is a popular motivational speaker and small business Consultant who has transformed thousands of businesses throughout the world with his straightforward, proven advice. His success at making over businesses has been featured on PBS Life Times, in the Los Angeles Times, Entrepreneur magazine, and the New York Times.
www