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Tag Archives: retail
The holiday season has passed and many retailers have experienced a bounty of increased sales. Unfortunately, this is also a time where retailers become the most vulnerable and at risk for losses suffered at the hands of cyber criminals.
In fact, according to the Chubb Cyber Index, which includes more than two decades of claims data, there is typically a 35% increase in the number of cyber claims across all types and sizes of retail businesses during the holiday season. Continue reading
Should a cyber incident occur during a high traffic period, such as the holiday season, it could wreak havoc on a business’s bottom line or even put them out of business completely – not to mention the impact of how an organization responds on their reputation with their customers and employees.
So what can a retailer do to help mitigate this risk?
Once confined to Halloween and holiday fare, pop-up stores have proliferated, selling everything from fine silk to skater gear. For retailers, pop-ups can be a way to move from online to a brick-and-mortar presence, generate buzz for a new or growing product line, or move large quantities of inventory.
If you own or manage commercial real estate, pop-up shops can make good business sense for your firm, too. Need to fill vacant space and bring in revenue at the same time? Want to draw more people in with popular products? Looking for potential leads to long-term leases? Pop-ups might be the answer.
But before you sign that next short-term lease, consider the potential downsides. New pop-ups can introduce unanticipated risks that the space may not have been designed to address.
A Cheetos-themed restaurant. A St. Ives skin care product mixing bar. A Metallica gear shop. Pop-up stores have come a long way.
If you’re looking to move from online to a physical location, generate more buzz for your brand, or create an immersive customer experience, you’re likely considering a pop-up shop.
With the year-end holiday season over, research and negotiation has started in earnest for pop-up retail stores planning to open later this year. With merchants racing to capture the best space, it’s important to understand not only contract terms, but also the potential risks and hassles, to avoid making crucial mistakes in the rush to sign a lease. Continue reading
The growing popularity of pop-up stores can offer opportunities, but also challenges for building owners and property managers. While even a short-term occupancy can be better than having a space remaining vacant, you need to perform due diligence and consider a variety of factors before turning over the keys to a pop-up merchant. Continue reading
For retailers, customer safety has become as important to Black Friday planning as cutting prices and scheduling team members. With customers and retailers alike counting the hours until Black Friday savings are available, it’s important for businesses to understand the potential hazards and to make the appropriate plans. Continue reading