4 Ways Leading Retailers Will Innovate to Recapture Market Share in 2018

More than a dozen American retailers will close the doors on hundreds of locations in the next 2-3 years.

Shifts like this happen. And because of technology, they happen faster than ever before.

We’ve covered online retail changes in-depth up to this point. So, let’s take a look at some other changes leading retailers have decided to embark upon to strengthen their market positions:

1. Abercrombie & Fitch

They’ve long had a focus on a highly sexualized brand that appeals to the “cool” kids in school. However, perhaps the market has grown too accustomed to this positioning. Going forward, the company has decided to focus on customer engagement, rather than image. So, they’re testing out a store in Columbus that allows customers to adjust the lighting in fitting rooms to see how they would look at the beach or in a club. The store also has more than 40 mannequins showing off clothing styles to help customers make decisions.

2. JC Penney Aims Its Sights at Sears and Home Depot

JC Penney successfully tested expanding its stores to include home appliance showrooms. It’s also going to begin offering home services like bathroom remodeling and blind installation. Everyone thinks of JC Penney as a fashion retailer. But since they successfully tested this out at a few stores already, they’re going to roll these changes out to hundreds more. Will this change rejuvenate their sales? Only one way to find out!

3. Lowe’s Will Use the “LoweBot”

Lowe’s actually hasn’t been hurting for sales one bit. They’ve grown nicely over the past several years. However, they definitely have no fear of risk-taking innovation. They’ve made the “LoweBot,” an in-store robot designed to help customers. But, it’s not just a gimmick designed to attract attention. Instead, it’s intended to take care of low-level tasks, like helping customers find items. Employees would then have their time freed up to help customers make more complex decisions, like coordinating a new item with their home’s design.

4. Macy’s Will Include More In-Store Shops

Macy’s has now strategically positioned itself to include more in-store shops. These include the practical LensCrafters, Backstage, which is Macy’s own discount store, and Blue Mercury, a beauty chain it purchased.

Other retailers, like Costco, use this model successfully to grow their own revenues. We’ll see how it plays out for Macy’s.

Innovating to win more market share is a necessity. And whether you find yourself in a rough position, or a strong one, it makes sense. Amazon had many great internal failures, and at one point lost 95% of its market capitalization. But, if you maintain a rigid commitment to innovation, you’ll find your path to success just like they did.

Why You’ll Love Impact’s Products

Every great company focuses on more than just making money. And that’s what helps Impact’s products keep their status in our President’s Club.

Besides making quality products, they aim to have a positive impact with every product, customer, and employee. It’s Impact’s goal to make your job easier, safer, and better. And they’re not just a company broadly focused on the cleaning industry. Rather, they’ve tightened their product selection to cleaning supplies and accessories. And that specific focus is another reason Impact remains a leader in the cleaning supply industry.

Much of the time, you might not even realize you’re using Impact products. That’s because more than 300 are available via private label.

Why might you choose Impact’s products? Well, here’s a few more reasons we love them:

  1. Value Proposition Customized to Your Company

    Impact doesn’t have cookie-cutter solutions offered to every customer. They discover your most painful problems. They learn your goals. And they deliver you solutions that put an end to your pain and help your company reach new heights.This sounds awfully ambitious for a supplier of cleaning products. But, it’s exactly the way Impact operates.
  2. Impact Helps You Reduce Your Effects on the Environment

    Impact’s phasing in more environmentally-friendly products in their line. They constantly research and strategically source in an effort to help you reduce your carbon footprint and make the world a greener, healthier place.Of course, by doing so, they’re reducing their own carbon footprint too.
  3. Impact Produces Their Products in a Safe Way That Also Protects Their Employees

    DuPont’s award-winning Safety Training Observation Program runs the show at every Impact facility. Employees work in the safest way possible, and produce the products you use in a safe way.

Why should you care?

This means less risk of disruption for your cleaning supplies. It also means costs stay lower because the company doesn’t have to factor in as much for the damage they cost.

The STOP program trains managers, employees, and even includes web-based software that allows Impact to record and analyze safety data to find opportunities for improvement. No aspect of safety goes untouched.

So, whenever you hear us recommend Impact products, now you know why. And you can have full confidence in their quality and ability to drive an almost ridiculous amount of value to your company.

What Makes D&W Fine Pack So Special?

At first glance, you may feel tempted to think D&W Fine Pack is just another aluminum, rigid, and cutlery products manufacturer. But under the direction of new CEO Kevin Andrews, who was hired to his position in December 2015, they decided to make a dramatic shift in a new direction.

They didn’t know what that direction would be at first. So, they decided to make a 90-day commitment to understanding what would make them special for customers just like you.

It turned out that the quality of their products is their key difference maker. D&W Fine Pack measures quality as the number of customer complaints across the number of cases shipped. The initial rate discovered was .0032%. Though already low, their goal is to drive that rate even lower.

…But that was only part of what D&W discovered makes its products so special for its customers.

These 4 Factors Combined Make D&W Fine Pack an Amazing Supplier

After D&W found out what makes them particularly special to their customers, they knew it would work to leverage other existing qualities to create a special package that differentiates them from the competition.

This includes D&W’s:

  • National footprint
  • Custom solutions
  • Desire to be the supplier of choice

And of course, the already-mentioned quality products. Customers are loving the custom solutions. Since D&W is including new tools and systems to improve their service, CEO Kevin Andrews only expects the company to get even better.

In fact, D&W has taken customization so far that they can even customize your customer’s products. That takes your own differentiation to an even higher level. To make it happen, they’ve invested in an additional Innovation Facility. In that facility, they work with customers to take products from Demand Creation to Product Delivery. Yes, they go as far as helping you perform your own innovation. And since they’re happy to allow you to private label, you get all the credit and the repeat sales from greater brand recognition.

D&W’s new approach helps customers like you win more than ever before. And it’s exactly why we happily recommend them to customers like you when they make the perfect fit for your needs.

Why Your Supply Chain Is Your Key to Success

In ancient times, you went to a chaotic open-air market where farmers and craftspeople hauled their goods for sale. About a century ago or so, that model shifted to permanent shops set up near the center of town. That slowly shifted to larger local, and in some cases regional, department stores. Then Walmart came along and created the big-box retail model, and it still rules in-store sales today, with its 2016 revenue rolling in a hefty $482.1 billion. And it all happened because of changes in the supply chain.

Today, however, that’s changing. Small online retailers are popping up everywhere and can compete in their own way. Even though retail has changed dramatically over the millennia, why consumers buy hasn’t changed. Their preferences have always been:

  • Speed
  • Choice
  • Price
  • Convenience

What has clearly changed, though, is the how. But why should you focus on your supply chain as your key driver of growth, rather than something else?

Here’s why:

  1. Logistics Costs Are the #1 Reason for Shopping Cart Abandonment

    The global average shopping cart abandonment rate in 2016 was 77.24%. Could you imagine your reaction if 7-8 people out of every 10 who entered your store left empty-handed? Your jaw would hit the floor in astonishment.Online shoppers don’t purchase for many reasons. But the chief one is additional fees at checkout.And what are those?

    Shipping fees. You could also call those “logistics costs.”

    It’s tough to deliver every package to each customer as fast and affordably as they want. But with strategic use of robotics and automation, you can keep your logistics costs down.

  2. New Technologies Are Driving Supply Chain Success

    Investing in your supply chain no doubt carries significant risk. Invest in a new type of data analytics or data science company, and you could find yourself losing all your money in 18 months anyway because it turned out their system wasn’t the most efficient after all. Many leading retailers have considered this, and then failed to adopt, but that too has only put them in an even weaker position.
  3. If You Don’t Innovate, The Worst Could Happen

    Currently, Americans can order (to a certain extent) directly from Asian manufacturers on Alibaba. They can provide lower costs than American manufacturers. But, they can’t match convenience or speed (yet). Customers may not actually get their product. It could take 3 weeks, or longer, to get it. And if it arrives damaged, a distinct possibility since it had to travel thousands of miles, the whole process starts all over again.

But, what if Asian manufacturers eventually innovate to the point where they master speed and convenience? Even Amazon’s not safe if it fails to innovate.

Is your supply chain your key to growth? Likely so. Taking the next right steps to innovate forward rests on you.

4 Reasons Retail Websites Lose Sales

This holiday season will undoubtedly drive your sales far higher. But, are your sales as high as they could be?

Check out these reasons to learn how you could increase your website’s sales even further:

  • Discuss Your Product’s Benefits

Every website nails the features (facts) about a product. Without exception, manufacturers, distributors, and everyone else, nails what the product is, has, or does.

That’s important for consumers to know.

But if you stop there, you bleed sales.

Your customers also need to know why they should buy your product. This means discussing the benefits your products offer.

In simple terms, you focus on discussing the experience your product offers. If you stick to just features, well, many other products have exactly the same features.

So, why should a customer buy yours if they can get the same from someone else now, or at a lower price?

And yes, you need to discuss these even if they’re obvious. Because, customers won’t necessarily think about the benefits your product implies.

Make it real for them so it’s easier for them to decide to buy.

  • Let Customers Give You Their Email for In-Stock or Sale Notifications

How many thousands of customers arrive at your website, find out you’re out of stock and on backorder, and then leave, never to return again?

Simply have your web development team give them a box where they can enter their email address and you can notify them you have their item in-stock.

Don’t be tempted to think a “Wish List” works just the same. That requires your customers to take extra steps, like creating an account, going through a frustrating password creation experience, and then actually adding the item and checking their account for updates.

Every step you make your customers take leads to lose customers and sales.

Make buying ridiculously easy for them instead.

  • Slow Load Times

Websites, even at some of the nation’s leading retailers, don’t offer a good user experience. For example, you may have to wait several seconds before the product page loads.

Unacceptable!

Every page on your website must load in a couple seconds. Or, your visitors get angry and frustrated. Instead of buying, they leave.

  • Free Shipping

You may not be able to offer free second-day shipping. And maybe the idea of offering free shipping of any kind at all scares you.

But somehow, find a way to offer it. Customers would much rather have an option for free shipping, rather than paying the cost.

You may have to attach this to a minimum order amount. It could only come on certain occasions through email promo codes. Or, maybe you ask for a small monthly fee like Amazon.

The point is to find some way to offer it to at least a portion of your customers.

One of the main reasons many retailers can’t compete today is they choose not to meet the demands the market has for their website. Now that you know what your market wants, deliver it to them and watch your sales grow.

5 Easy-to-Implement Valentine’s Day Retail Sales Strategies

Let’s be honest: most men wait until the last minute to do Valentine’s Day shopping for their sweethearts. On a rare occasion, you get one who thinks ahead and takes care of everything in a planned manner. But, that’s not the norm.

So, you have to cater to this procrastinating crowd who wants things simple and easy. Here are some ideas to boost your upcoming Valentine’s Day sales:

  • Create Gift Kits and Bundles

With a bundle, a man can simply go and purchase the bundle, and then get a card. They’re in, they’re out, and their wife stays happy. That’s what they want.

So, create kits and bundles. They also give you the opportunity to wholesale one or more items and increase your margins. And since you’re offering a bit of convenience, you may also be able to boost your margins even further.

It’s a win-win.

  • Offer Creative Options

Men want as little difficulty as possible as they choose their gifts. Women love surprises.

So why not take the afore-mentioned bundles and kits and offer creative options with these?

How about an indoor-picnic type gift basket loaded with cheese, olives, crackers, wine, and a bouquet of flowers?

You’ll have to strategize your own gift sets. But, this gets you going in the right direction.

  • Have Your Employees Randomly Nominate Memorable Customers for Special Gifts

Don’t necessarily reward your customer based on what they spend. That doesn’t build strong rapport.

Instead, give your employees the ability to reward customers for a reason they find appropriate. This could be that a certain customer stayed patient as your company made mistakes. Or it could be a customer who was just really exciting to work with. And it could be one going through a hard time.

Make sure your customers know you’re doing this promotion. And then, be doubly sure you promote the stories that result to build interest.

  • Have Your Customers Vote For a Local Charity to Support

You can do this with any holiday, including Valentine’s. Facebook makes it easy to create polls.

So make one with some options for your followers to vote on. Then, as before, make sure you share photos or videos from the event when you actually make the donation. And also share how the donation will be used at the organization.

  • Hold a Customer Appreciation Party

You can take all sorts of creative approaches with your party. If you’re a grocer, offer free food and drinks. After all, isn’t the way to a man’s heart through his stomach?

And of course, share photos and videos of the event so your customers gain interest.

No matter what your store’s sales happen to look like, you’ll send them even higher when you implement these tips.

Why Amazon Isn’t the Reason You’re Losing Sales

Believe it or not, as successful as Amazon has been, and as disruptive as they have been, they’re not the largest reason retailers close their doors.

They certainly play a role. However, even the most generous of estimates of Amazon’s growth don’t account for the overall decline in sales many retailers experience. So, blaming Amazon for lower sales amounts to an excuse rather than a genuine reason for falling behind in the marketplace.

Besides Amazon, what else drives why the marketplace sees so many leading retailers belaboring declining sales, filing bankruptcy, and closing more physical locations?

These factors play a much larger role than Amazon does, according to Brendan Witcher, principal analyst at Forrester:

  • No Knowledge of Customer Pain Points

Customers want to buy what they need at a price that makes sense. They want to be able to return the item without any hassles.

Retailers complicate the real issues customers face. And as a result, their stores don’t offer experiences that solve customer’s problems.

  • Undifferentiated Store Experiences

Strange as it sounds, in-store experiences haven’t really changed for the past century.

A whole century!

If your store is just a building that houses your inventory, why go to it when you can simply order a product online?

Offer samples, smells, sights, sounds, demos, helpful (not pushy or salesy) store associates, or create a marketplace-like atmosphere like you get at the now-Amazon-owned Whole Foods.

That’s the key to winning the in-store shopping game.

  • Use Opinions Instead of Data to Drive Strategy

Because of the internet and mobile technology, customer expectations have shifted quickly. Without data, you have either an opinion or a guess. So whatever you decide to do, make sure you gather data and analyze what it means before you act.

Otherwise, you’re acting foolishly.

  • Focusing on Products, Rather than Experiences

Any consumer knows they can find the exact same thing somewhere else for a similar or lower price. Once you turn your products’ sales into a pricing game, you begin competing with Amazon, Target, and Walmart. In other words, you’re bound to lose.

Even if you’re a small company, focus on giving customers a reason to shop with you. These days, offering products only made in the USA could be a powerful reason for a niche market, for example.

You’ll have to discover this for yourself. But, it’s a key to long-term retail success.

  • You Have Too Much Bureaucracy

Your employees need freedom to make decisions, take risks, and fail. They can’t be faced with limitless rules that basically turn them into order-taking robots.

That keeps your business the same. In America, where innovation reigns supreme, stifling risk is the surest path to mediocrity – or even bankruptcy.

Amazon lost 15% of its stock value 107 different times. It fell from a high of $113 at the end of 1999 to $5.67 in September 2001. And it lost more than 50% of its share value on 3 occasions, including during the 2008 financial crisis.

Risk includes short-term failure. But it also makes your long-term success likely.

Is Amazon a reason for declining sales? Yes. But Brendan Witcher argues that, because of these factors, it’s a symptom, not a cause. Take an honest inventory of how you’re doing business to see if any of these factors may be holding you back.

What Makes Pactiv Advanced Packaging Solutions So Great?

You’ve probably read several of our President’s Club vendor profiles by now, where we feature our top vendors. You’ve learned why we like them so much and why they make an amazing addition to your company when their products make sense for your needs.

In continuing with that theme, today we’ll take a look at Pactiv Advanced Packaging Solutions and what makes them so awesome (and why you’ll think they’re pretty cool too).

Founded back in 1959, the Packaging Corporation of America (as it was called then) made one thing and one thing only: cardboard boxes. Purchased by Tenneco Inc. in 1965, the company subsequently made numerous additional acquisitions to transform itself into what it is today: packaging for all industries, with a growing focus on the foodservice industry.

  • An Unrelenting Focus on Core Principles Got Pactiv to Where It Is Today

You probably know many corporations who shift their identity to whatever the market happens to demand. It’s inauthentic, and actually turns many customers off.

This hasn’t happened with Pactiv. They’ve clung to their core ideology of doing the right thing in the right way, and they do not bend from it. Their core principles of customer service and being the only destination their customers need to purchase packaging materials from have helped them remain strong in the marketplace, despite numerous changes and acquisitions over the decades.

And in regard to ethics, for example, Pactiv requires all its own business practices, and those of its suppliers, to use services only from companies who show humans the respect they deserve. No one in their network can use forced, bonded, or child labor. And they even have a special page on their website where you can anonymously report violations of this policy. Then they cease doing business with that violator until they come into compliance.

  • And Pactiv Provides Their Products in a Sustainable Way

No modern packaging company is complete without sustainable production solutions. Pactiv produces all their packaging materials in a 100% sustainable way that focuses on these three key areas:
Energy-efficient buildings and production processes.

Use of alternative resources and recycle materials. Pactiv constantly explores new ways to produce their products.

Reducing waste reduction and management. Pactiv recycles around 90% of their manufacturing scrap.

Feel good about Pactiv? We certainly do. And that’s why we’ll happily recommend them when their products make sense for your business needs.

Why You’ll Love JRMI (Now AmerCare) Products

Mergers and acquisitions happen so frequently and rapidly they’re hard to keep up with. We’ve loved JRMI for many years. They’ve also been acquired by AmerCare, which happened May 6, 2016.

Today, AmerCare primarily focuses on paper disposable products for the foodservice and retail industries. They now have more than 1,200 products available.

Historically, AmerCare has been known for its service to the disposable glove industry. JRMI has had the greater focus on the foodservice industry. Today, they both operate together under the AmerCare Name with a warehouse in Charleston, South Carolina, Dallas, Texas, and one more in California.

When customers come to AmerCare today, they have one of the broadest portfolios of products in the industry available to them. And that’s what makes AmerCare so strong in the market.

AmerCare’s most popular product lines include:

  • Point-of-Sale Supplies

AmerCare has a massive selection of POS supplies available. Register rolls are available in thermal, bond, or carbonless paper in nearly every width, link, color, and configuration. Printer ribbons are available for almost every type of POS printer used today.

  • Straws

AmerCare’s one of the leading paper products suppliers to the restaurant industry. Customers can get straws in every color, length, and style, ranging from giant size sipsters to wrapped and unwrapped straws.

  • Kids Products

AmerCare makes colorful entertaining placemats to keep your kids busy while you wait to be served…and if they finish way before you. Customers can even customize their placements with their own logo. Recyclable plastic cups are shatterproof and can be given to kids as souvenirs.

  • Napkins and Bands

AmerCare has, as you guessed, a napkin for every situation – beverages, lunches, dinners, or dispensers. To accent your napkins, simply add a colored band of your choice.

  • Plastic Cutlery

Need to fill out a cafeteria, picnic, or simple event? AmerCare’s plastic cutlery comes in every weight, length, and color to match your event to perfection. Custom kits can be assembled per your requirements.

Notice a pattern here? If you need it, AmerCare has the product for it. That’s why we love them, and happily recommend their products when they make sense for you.

3 Simple Techniques to Increase Your Holiday Sales

Boosting your holiday sales doesn’t need to be a monumental task. You don’t have to spend months planning the greatest innovation your company has ever seen, with the risk that it could totally fail.

Increasing your holiday sales can actually be quite simple, and even easy. Have you tried any of the tactics or techniques below?

Consider each carefully:

  • Make Receiving Alerts Easy

Many e-commerce sites have “Wish Lists.” But here’s the problem with those: you have to create an account, which involves a few steps and memorizing yet another password.

Every extra step you add to any online process means customers drop off. So, why not make it super-simple for them to get exactly what they want?

For every item on your website, add a box where they can enter their email to get an in-stock alert, or notification of a sale price (and even both). Then, they simply enter their email, which is just a single step, and leave.

That’s easy and painless. And you’ll get more customers back as a result.

  • Offer a Discount for Signing Up to Your Email List

Have you ever browsed a few hundred e-commerce sites and looked only at the promos they use to get you to sign up to their list?

Clear out your browser’s cookies and do it. You’ll see a wide range of techniques. The most effective offer a tantalizing incentive for joining their email list.

Tactics include 10% or 20% off your first total purchase, free shipping on your first order, or a random mystery discount ranging from 10 – 40%. Then, some companies simply say,”Join our list to get the latest sales and promotions.”

Nothing’s a bigger turnoff than that last one. It’s vague, and offers no real motivation to join.

Customers on your email list spend the most with you over the long term. So it’s worth your time and money to test and improve your incentive for joining.

  • Consider Adding Live Chat

What customer doesn’t like to have help immediately available, should they need it?

Having the option for live chat can do wonders for sales. Your rep can clarify a question that helps a customer buy from you (and not someone else). They can upsell the customer by offering additional suggestions on what they might also be interested in. You could even empower each rep with a certain amount of special discounts they can offer customers.

Customers who don’t get an immediate solution to their question leave. They go and purchase what they need from one of the thousands of other e-commerce sites.

None of These Solutions are Groundbreaking

Adding one, or even all, of these features to your website doesn’t come with a huge time or capital investment. But they certainly can have a huge payoff.

Low risk? High reward? It just makes good sense to test each and see what results you get.

3 Common Challenges Retailers Face During the Holiday Season

Last holiday season, 2/3 of the nation’s leading 40 retailers missed their expected sales projections. This happened despite 2016-2017 being the biggest holiday shopping season since 2011.

Why would this happen? What’s going on? What can you learn from the struggles the largest retailers in the nation face?

Check out a few of the highlights below:

Online Purchases and Fulfillment Cost Far More than Expected

Some of these leading retailers notice much higher online sales than others. Despite their increased revenue, however, their net profit missed expectations.

Why?

They don’t have the behind-the-scenes logistical network in place to efficiently fulfill demand. This inability to manage online orders hurt market leaders so badly that, even though their online sales outpaced the competition by a wide margin, they still had an overall disappointing holiday sales season.

That’s the first major area to analyze both this year and going forward.

Personalizing Their Online Shopping Experience

Personalization is no secret. But doing it in a way that works for your shoppers remains a challenge.

For example, imagine you visit a leading retailer’s website, shopping for NFL gear for your favorite team. Your 7-year-old daughter uses your account to look for her favorite dolls a little while later.

When you use your account later on, you’re bombarded with ads for dolls for 7-year-old girls. And then later you see ads for NFL gear.

Isn’t this an excusable mistake?

Not anymore. Today, your website needs to understand the various contexts in which you, and others who use your account, might shop. It needs to then deliver a relevant shopping experience based on what you’re doing right now, even if multiple people use the same account for different reasons.

A Complex Online Check-Out Experience

Once customers have what they want online, they want to get through your check-out process as fast as possible.

They should only have to do these steps:

  • Give you their billing info
  • Have an option to pay with gift cards
  • Enter their shipping address (or simply check a box showing both are the same)
  • Purchase

That’s it. You can give them the option to create an account or join your email list. However, these should be options with checkboxes, and they shouldn’t require action before customers can advance. That makes them truly an option.

Some of these problems you can easily fix. Others are long-term projects. Regardless, they’re all important to your holiday sales season.

3 Ways You Can Improve Your Supply Chain’s Efficiency

In the aftermath of the chaotic holiday shopping season, you sometimes wonder how it all worked out. Market demand shifts so rapidly, and sometimes unexpectedly, you wonder how were you able to make the sales you did.

After every holiday season, you probably realize you did (admittedly) have some areas where you missed opportunities for additional sales. It happens. No company actually does the holiday season perfectly, and that even includes industry giants like Amazon.

How could you improve this holiday season, or even begin strategizing for the next? These ideas may help your supply chain efficiency:

Join A B2B E-Procurement Network

With a B2B e-procurement network, you understand what’s going on with your suppliers’ suppliers. Cloud-based technology means you get real-time updates on the status of your supply chain from your suppliers. Instead of passively reacting to changes in supply, you proactively address them and avoid costly supply shortage blunders.

Make Sure Marketing and Your Supply Team Are On the Same Page

Ever had a smash-hit marketing promotion, only to realize you didn’t have the necessary product available to fulfill demand? It happens. And, much of the time it happens simply because marketing and your supply team aren’t in close communication, and don’t understand what the other is doing.

So, make sure they work closely together. If it requires a meeting headed by someone with greater authority than both, then make it happen. It’s simply too large of an opportunity to overlook during the holiday sales season.

Consider Re-Evaluating Your Distribution Center Network

You won’t be able to complete this one during the current holiday season. However, it is a problem that even the nation’s leading retailers face. They simply don’t have their distribution center network optimized for fulfilling online orders. Even in 2017, it’s still set up for in-store sales by most retailers.

Some experts believe you can still greatly improve your supply chain efficiency with only minor changes to your distribution center network.

Per usual, Amazon has this model finely honed and optimized (though not perfected). Their fulfillment center locations can all be found online so you can study and learn why they might have their network setup as they do.

Can you improve your supply chain’s efficiency? You sure can. Every business has room for at least some improvement. And when you get that additional efficiency, you’ll notice fewer markdowns and more sales.