Thrive by Shopventory

The 5 days between Christmas and New Year’s is stressful if you don’t have a plan ?? Here’s everything you need to get organized going into the new year: Inventory checklist ??Update vendor information ??Review your vendor contracts ??Prepare your year-end sale ??Complete an end-of-year inventory count Financial checklist ??Generate income statements and balance sheets ??Review your cash flow statements ??Check payroll and employee information ??Organize tax paperwork Employee checklist ??Verify employee information ??Give out bonuses or end-of-year awards ??Gather feedback IT checklist ??Back up your computers and phones ??Run a security checkup ??Review your file naming practices Marketing checklist ??Audit your website ??Evaluate your marketing plan ??Review your marketing budget Business goals checklist ??Review your progress toward this year’s goals ??Evaluate your KPIs ??Set goals for the coming year Want a printable? Access your copy here!

How is everyone's in-store engagement going? We're loving stores that are putting product interactions at the forefront. Giving customers a chance to interact with your products before they buy allows shoppers to feel more confident about their decisions ?? Let's talk through all the benefits of memorable in-store experiences: 1. When customers have the chance to test a product’s quality, size, or functionality beforehand, this hands-on trial sets clear expectations. 2. Whether staff are conducting in-store demos, explaining product features, or answering questions, these interactions position your team as a knowledgeable, helpful resource. 3. While other retail stores stick to standard displays, interactions showcase the products’ features front and center, providing shoppers with a far more memorable experience. 4. Experiential retail, which blends shopping with immersive interactions, has become a key driver in consumer behavior. 5. Encouraging shareable moments increases visibility, especially among online communities, where word-of-mouth increases your brand recognition and attracts new customers. 6. When customers interact directly with your products, they provide real-time feedback that helps you refine and improve your offerings. Want 7 of our favorite product interaction ideas? Read our full blog ??

You might want to sit down for this… Black Friday is in ???days! Use the next few days well by creating a marketing strategy worth the hype. Here are four ideas you still have time for: 1. Email out major deals 2. Maximize online conversion by adding pop-ups or a banner 3. Promote holiday gift guides 4. Create a retailtainment experience like a gift wrapping station or live holiday music

Want your shoppers to buy more each time they reach the checkout counter? ?? Of course you do, that's why you should be curating multiple products together for your customers to make it easy for them to buy more. This is called product Bundling ?? Still not convinced? Here's how your store can benefit from Bundles: ? By?grouping related products, you gently nudge customers toward trying new things that complement their initial purchase. ? Bundles encourage customers to spend more in a single transaction. ? When you’re?launching a new item, bundling it with a best-seller puts it in the hands of more customers. ? Pairing slow-moving products with bestsellers clears out old stock, prevents inventory waste, and makes room for new stock, ensuring your product lineup stays fresh and appealing to customers. ? Shoppers love getting a good deal, so bundling products for a lower price enhances their experience with you. ? This approach appeals to bargain hunters looking for deals and fence-sitters who need a little extra incentive to buy.

Have you used our free tools yet? Thrive has a bunch of free templates, kits, training webinars, and downloadable guides for small business owners. Here's what we've got for you: ??Stock counting resource kit ??Inventory 101 kit ??Holiday readiness kit ??End of year kit ??Inventory formulas template ??Stock count checklist ??Stock count worksheet ??Vendor contact list ? End of year checklist ? Inventory management email course ? Product assortment strategy webinar ? SKU & barcode generator Access Thrive's free tools here ??

When making your physical inventory count plan, this is what you need to keep in mind. 1. Schedule training to go over the procedures, divvy up responsibilities and answer any questions from your staff. 2. Set up an inventory cycle count report using a spreadsheet or an inventory management system to track which products you need to account for. 3. Integrate barcode scanners to speed up your count compared to pen and paper counts, saving your team hours. 4. Determine your inventory count method (we recommend location or category-based). 5. Pick a date and a time that your store is closed and your staff is available.

?? Last call - Is your e-commerce store ready for the holidays? Alright, here are 5 ways to sell more online this holiday season. 1. Remarketing:?Take a look at the products a customer was browsing, and run an ad for the same or similar products. 2. Electronic gift cards:?Not only do they provide gift-givers with an easy present, but it ensures shoppers return to your store. 3. Exclusive e-commerce promotions:?Offering free shipping, early bird offers, and discounts can be effective marketing campaigns for attracting customers to your e-commerce store. 4. User-generated content:?Accumulating user-generated content allows your audience to see everyday people using your products and enjoying them. 5. Zero-party data:?Gathering zero-party customer data can help you identify trends and build them into your longterm marketing strategy.

?? Hot take: Small businesses don't take cross-selling and upselling as seriously as they should. While it might seem simple, suggesting more expensive or complimentary products can make a big impact on your bottom line. Adding cross-selling and upselling to your sales strategies lead to increased profits by presenting a higher value to your customers. It can be tricky to determine the right situation to cross-sell vs upsell, so let's break it down ?? 1. Cross-selling complementary products: Think of items that are frequently used together or that could enhance customers’ main purchase. 2. Upselling for extra features: Upselling, on the other hand, is ideal when you have a premium version or add-ons to your products that show customers all the best features and benefits available. 3. Know your customers: Upselling ushers existing customers who frequent your store to an elevated experience with your business. While, cross-selling is beneficial for first-time buyers, as it introduces them to more products that enhance their current selection. 4. Ask the right questions: Some customers will be thrilled to pay a bit more for a product with extra features, while others might be watching their budget. Asking open-ended questions makes it easier for them to open up about what exactly they’re looking for. Ready to build your cross-selling and upselling strategy? Keep reading https://hubs.ly/Q02Vy7YW0

@Square's 50 most impactful businesses of 2024 list is now live! Get inspired by small businesses making big waves in the following ways: 1. Innovation 2. Growth 3. Community 4. Experience 5. Sustainability https://hubs.ly/Q02VxRSk0

Season 3 of the Power Up Podcast is here! Hear @seanstaicer get five successful small business owners to share their secrets. Episode 1: How a personal project inspired a million-dollar brand Episode 2: This furniture store expanded to retail, and you should too Episode 3: Prioritization tips every entrepreneur can learn from Episode 4: This sneaker store's smart approach to tourism Episode 5: Maximizing profits by controlling production https://hubs.ly/Q02TZSB60