Discover retail trends, strategies, and innovations shaping the industry.
Business Insights
Wendy's has announced plans to close approximately 140 of its restaurants in 2024 as part of a strategic move to streamline operations and improve overall profitability. This decision comes amid increasing competition in the fast-food industry and changing consumer preferences. The company aims to focus on its most
Supply Chain
Many companies grapple with the issue of excess stock, regardless of their industry. This surplus inventory problem extends beyond just tying up financial resources; it also inflates storage expenses and risks product obsolescence. Efficiently managing stock levels is thus crucial for trimming excess and streamlining business operations. This piece explores
![Cosmico - A Beginner's Guide to [Value-Based Pricing]](/content/images/size/w600/2024/02/beginner_guide_value_based_pricing_2024_cosmico_business_tech_insights.jpg)
Business
Value-based pricing is a strategy businesses use to price their products or services based on the perceived value to the customer, rather than the cost of production or the price of competitors. This approach requires a deep understanding of the customer's needs, preferences, and the value they attach
Business
When it comes to running a successful business, setting the right price is crucial. Pricing strategies influence not only how much profit a company can make but also its competitive position, customer perception, and overall business sustainability. We will discuss the top 3 pricing strategies designed to maximize profit: Cost-Plus
![Cosmico - What is [Gen AI] and the Future of Work?](/content/images/size/w600/2024/01/gen_ai_generation_ai_future_of_work_2024_cosmico_business_tech_insights.jpg)
Artificial Intelligence (AI)
Gen AI, or Generative Artificial Intelligence, is a term used to describe the growing population of artificially intelligent beings. These beings are not human, but rather digital entities that can perform a variety of tasks and functions. Gen AI is becoming increasingly prevalent in our society, and its impact on
Branding
Brand recognition is a crucial aspect of any successful business strategy. It goes beyond having a memorable logo or catchy slogan; it encapsulates the overall awareness and familiarity that consumers have with a brand. In a competitive market, establishing and maintaining strong brand recognition is paramount. This article delves into
Sales
In the dynamic world of sales and marketing, strategies to maximize revenue and enhance customer satisfaction play a crucial role. Two common techniques employed in this pursuit are cross-selling and upselling. While these terms are often used interchangeably, they represent distinct approaches to increasing the value of a sale. In
Business
In the world of business, the pursuit of growth and sustainability is a constant tug of war between two essential strategies: customer acquisition and customer retention. Both are crucial, yet they demand distinct approaches and resources. The question that often plagues businesses is, "Which is the best path to
Marketing
Word of mouth marketing, often abbreviated as WOMM, is a powerful and timeless form of marketing that has consistently proven its effectiveness in the ever-evolving world of business and advertising. It's not a new concept, but its significance has grown exponentially in the age of digital communication and
Business
In the world of business, one metric stands out as a true north for success - Customer Lifetime Value (CLV). CLV is a forward-looking and indispensable measure that every company, regardless of size or industry, should prioritize. It's the key to unlocking sustainable growth, increasing revenue, and fostering
Retail
In today's fast-paced business environment, having an efficient and reliable Point of Sale (POS) system is crucial for success. Whether you run a retail store, restaurant, or an e-commerce business, a well-chosen POS system can streamline your operations, enhance customer experiences, and boost your bottom line. In this
E-commerce
Finding the right supplier is a critical step in the success of any business that involves the sale of physical products. Whether you're a budding entrepreneur or an established company looking to expand your product line, a reliable supplier is essential to ensure quality, consistency, and competitiveness. In