Retail - McGraw-Hill Introduction to Business

To Compete with Startups, Colgate Plans to Launch Subscription Services

July 3, 2018

In 1873, Colgate got its start by selling toothpaste stored in glass jars. Then about 20 years later the company began using collapsible tubes for storage, making it the first oral hygiene brand to do so. Colgate didn’t change much in the century that followed this revolutionary packaging decision, even after Palmolive purchased the company in the 1950s. And while it has since introduced new products like electric toothbrushes, Colgate’s central mission remains focused on selling as much toothpaste as Continue reading →

Subscription Services, Colgate, Product Development, Retail, Health, Product Distribution, Entrepreneurship, E-commerce

Chapter 1: Taking Risks and Making Profits, Chapter 6: Entrepreneurship, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Bonus Chapter B: Technology and New Media

Etsy Upsets Its Sellers after Rate Hike Announcement

June 26, 2018

NickelsMcHughMcHugh

The e-commerce site Etsy is almost entirely powered by millions of independent sellers who offer everything from vintage clothes to freshly made slime. A good number of these entrepreneurs make their living by selling stuff on the site, which explains the anger that many of them felt towards a recent policy change at the company. Instead of collecting a transaction fee of 3.5 percent of sales, Etsy now plans to take a 5 percent cut of both sales and Continue reading →

Retail, Pricing, Product Distribution, Etsy, E-commerce, Ethics

Chapter 1: Taking Risks and Making Profits, Chapter 7: Management & Leadership, Chapter 14: Product and Price, Chapter 15: Distribution, Bonus Chapter B: Technology and New Media

Online Retailers Could Start Collecting Sales Taxes

June 22, 2018

NickelsMcHughMcHugh

In recent years, millions of consumers have grown accustomed to the convenience of online shopping. Along with enjoying wide selections and free home delivery, e-commerce customers often don’t pay sales tax for items purchased online. However, that last fact could soon change thanks to a new Supreme Court ruling.

The decision reverses a previous ruling that prevented companies from collecting sales tax in states where they had no physical presence. Given that online retailers aren’t constrained by borders, though, a Continue reading →

Retail, Pricing, Regulation, Amazon, Ethics, E-commerce, Sales Tax

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 4: Ethics and Social Responsibility, Chapter 14: Product and Price, Bonus Chapter A: Business Law, Bonus Chapter B: Technology and New Media

7-Eleven Plans to Provide Healthier Food Options

May 2, 2018

NickelsMcHughMcHugh

Famous for its sugary Slurpees and Big Gulp soft drinks, 7-Eleven allows people to grab a quick snack and get back on the road without a second thought. Although this business model has served the chain well since the 1940s, recent changes in consumer behavior have executives worried that 7-Eleven could be falling behind its competitors. According to the leading trade association of the convenience industry, the nation’s more than 155,000 convenience stores sold $53.3 billion worth of prepared foods Continue reading →

Product Development, Retail, Marketing, 7-Eleven, Franchising, Food

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 5: Forms of Business Ownership, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution

Credit Card Companies Begin Phasing out Signatures

April 10, 2018

NickelsMcHughMcHugh

Paying with a credit card is an almost entirely electronic process except for one notable step: the signature. Although this final part of the transaction is meant to provide another layer of security, many consumers quickly squiggle something down on the line just to get the procedure over with. Then there are people like Doug Taylor, who goes the extra mile by signing his receipts with a doodle of a little dog wagging its tail. “It gets a laugh, most Continue reading →

Retail, Innovation, Currency, Security, Credit Cards, Operations Management

Chapter 9: Production and Operations Management, Chapter 17: Accounting, Chapter 20: Money and Financial Institutions, Bonus Chapter B: Technology and New Media, Bonus Chapter C: Managing Risk

Consistent Work Schedules Help Both Employees and Profits

March 30, 2018

NickelsMcHughMcHugh

As anyone who’s ever worked in retail knows, dealing with unpredictable work hours can be a frustrating experience. At the Gap, for instance, schedules must be posted 10 days in advance but can change quickly if the staff must prepare for big events like sales promotions or visits from executives. Even during standard operating times this system is far from perfect, with employees uncertain if they’ll work the same shifts from one week to the next. “I don’t count on Continue reading →

Retail, Work Environment, Management, Scheduling, Motivation, Gap, Human Resources, North Carolina

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 7: Management & Leadership, Chapter 9: Production and Operations Management, Chapter 10: Motivation, Chapter 11: Human Resource Management

Ebook Sales Have Been Slumping since 2015

March 16, 2018

NickelsMcHughMcHugh

As we saw yesterday with the sad state of Toys ‘R’ Us, the last few years have not been kind to brick-and-mortar retailers. The rise of online commerce has encouraged an increasing number of consumers to do their shopping at home, leaving many companies worried that they could be the next to go under. But while this is a new feeling for some, others like independent bookstore owners have had to deal with such fears for a long time. Continue reading →

E-commerce, Entrepreneurship, Books, Product Development, Retail, Innovation, Product Distribution

Chapter 1: Taking Risks and Making Profits, Chapter 6: Entrepreneurship, Chapter 14: Product and Price, Chapter 15: Distribution, Bonus Chapter B: Technology and New Media

Toys ‘R’ Us Plans to Close or Sell All of Its U.S. Stores

March 15, 2018

NickelsMcHughMcHugh

Last year, we looked at how Toys ‘R’ Us filed for bankruptcy after struggling for more than a decade with increasing competition and crushing debt. And while its future didn’t seem particularly bright at the time, the retailer at least had a plan in place to stay afloat in the short term. Along with taking out a massive loan to buy stock for the Christmas season, the company also claimed it had no plans to close any stores.

This relatively Continue reading →

Retail, Amazon, Legal, Product Distribution, Bankruptcy, E-commerce, Debt, Toys ‘R’ Us

Chapter 1: Taking Risks and Making Profits, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 19: Securities Markets, Bonus Chapter A: Business Law, Bonus Chapter B: Technology and New Media

L.L. Bean Ends Generous Return Policy

February 13, 2018

NickelsMcHughMcHugh

In 1912 Leon Leonwood Bean sold his first 100 pairs of boots to local hunters, promising that the footwear would “give perfect satisfaction in every way.” Soon enough, though, 90 customers brought their boots back after the bottoms became separated from the tops. While Bean nearly went bankrupt providing refunds, he knew that he had to stick to his word in order to regain his customers’ trust. As a result, people continued to support his business, which eventually grew from Continue reading →

Clothing, Marketing, Retail, Ethics, Pricing, Entrepreneurship, L.L. Bean, Maine, Product Returns

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 16: Place and Promotion, Bonus Chapter B: Technology and New Media

[VIDEO] American Shopping Malls Struggle to Survive

February 9, 2018

NickelsMcHughMcHugh

Last week, we looked at how property owners are trying to combat the decline of shopping malls by appealing to non-retail tenants like gyms and fitness centers. This video provides more background on this downward spiral, showing footage of American malls thriving in their heyday as well as the decaying, abandoned structures that some have become. But the video isn’t entirely doom and gloom: it also gives a lot of screentime to an Atlanta-area shopping center called Plaza Fiesta that Continue reading →

Malls, Atlanta, Retail, Innovation, Demographics, Product Distribution

Chapter 1: Taking Risks and Making Profits, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion, Videos