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Tips for negotiating renewal-option clauses
Dale Willerton and Jeff Grandfield RetailThe renewal-option clause in a lease is there for the sole benefit of the tenant. Essentially, its purpose is to ensure that you're allowed to lease your commercial space for another lease term — providing you meet the predetermined conditions in the lease agreement.
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Change in bank card technology envelops retailers, consumers
Bob Kowalski RetailTechnology moves forward every day, but one of the latest advances carries big implications for banks, retailers and consumers. In this case, the technology involves purchases made with credit or debit cards via card readers. Encoded chips are being embedded in newly issued cards, which are designed to improve security by replacing the magnetic strip that was more susceptible to hacking.
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The Canadian economy’s impact on the retail holiday season ahead
Katherine Radin RetailThe Canadian retail sector has seen several closures this year — Target, Future Shop, and Black's, to name a few. Combined with the country's current economic state, the holiday season ahead might not bring the most positive outlook for retailers.
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Smart shelves: Taking customer satisfaction to the next level
Danielle Manley RetailHow important is customer service to the success of a retailer? Approximately 50 percent of shoppers who experience poor customer service will stop doing business with that retailer, according to Kissmetrics. In addition, 81 percent of shoppers who have a good customer service experience will become repeat shoppers.
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Take a ‘long’ look at your customer relationships
Fred Berns RetailWhat's it take to develop long-term customer relationships? How can you turn contacts into ongoing contracts? How can you convert current clients into continuing ones? Those are critical questions, considering that increasing your repeat business by 40 percent can help you double your income in a year.
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Metals Thoughts: As good as it gets?
Brad Yates Natural ResourcesFriday's weak non-farm payrolls and even weaker August revision have effectively changed the prevailing paradigm for risk markets. Gold and (especially) silver have caught a bid, equity markets are having their longest winning streak of the year and yields are much lower all across the curve.
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Metals Thoughts: 1 step back
Brad Yates RetailAfter a volatile week, gold is basically right where we left it last week, but with a failed move above the 100 DMA at 1149. Silver has not fared nearly as well amidst the uncertainty and seems to be getting dragged along with PGMs and other more cyclical metals.
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How small businesses can use social media to increase sales
Mayur Kisani RetailConsumer shopping behavior has evolved rapidly. Shopping online on mobile devices is the new norm and is preferred to physically visiting a retail store. Capitalizing on this trend, most social platforms have — or are in the process of incorporating — a "buy button" and more features that favor e-tailers.
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Groupon: The one-hit wonder you don’t want to be
Jessica Taylor Business Management, Services & Risk ManagementIf you haven't heard the latest business news, Groupon is laying off approximately 1,100 employees in customer service and international sales. But that's not all. The company recently exited operations in Greece and Turkey, and will be doing the same in six more countries.
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Metals Thoughts: Fed dove edition
Brad Yates Natural ResourcesThe much-anticipated Fed meeting last week was incredibly dovish. We expected a "hold" but a bit of hawkishness from the dot plots, press conference or future implications. Instead, the meeting showed little indication that this committee is in any hurry to get off the zero-rate lower bound and begin rate normalization.
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