The government wins, and I’ll tell you why. By Bill Scott, founder of StoreReport LLC & Scott Systems Inc. I’m sure I may be setting myself up for a lot of grief, but I’ve been studying the convenience store industry for over three decades, and I am certain that most convenience stores will not be…
Does Lowering Inventory Levels Truly Increase Sales?
By Bill Scott, founder of StoreReport LLC & Scott Systems Inc. I recently did an analysis on the inside sales of 16 stores over a period of 36 months (August 2012 – July 2015). Here are the results: Total Tenders: 21,263,310 Total Sales: $50,914,146 Total Individual Items Sold: 22,647,084 The details support my theory. I…
How Dramatic Changes Are Affecting The Retail Industry
By Bill Scott, founder of StoreReport LLC & Scott Systems Inc. Millennials and Generation Y consumers do everything with their tablets, computers and smartphones; and they subconsciously avoid entering areas that sever the links between them and their virtual world. But that’s just the beginning. The retail store of the future will be a lot different…
Are Convenience Store Robberies On The Rise?
By Bill Scott, founder of StoreReport LLC & Scott Systems Inc. According to the latest statistics, robberies involving convenience stores have remained fairly steady, at about 6% of all robberies reported over the past few years, with a slight decrease in the 90s, mostly attributed to the development of better crime prevention methods. Repeat victimization however…
How Automated Replenishment Systems (ARS) Impact Store Profits
By Bill Scott, founder of StoreReport LLC & Scott Systems Inc. Surprisingly, although several retailers have automated their ordering process in the last few years, there is almost no academic source examining this topic down to the store level. Furthermore, while the study of the extent and root-causes of retail out-of-stocks has received substantial interest…
How To Understand Your Distributor’s Perspective
Discovering that it is not the distributor’s fault. By Bill Scott, founder of StoreReport LLC & Scott Systems Inc. In 2004, I was forcefully ejected from a place of business. I believe that this was the first, and only, time I have experienced such a thing. I had been asked by my convenience store customer to visit a…
Is It Time For Private 9-1-1 Centers for Retailers?
We already have the technology to provide a safer environment for customers and employees, so when will we use it? By Bill Scott, founder of StoreReport LLC & Scott Systems Inc. I intercepted an article yesterday telling about a couple that was attacked by a gang of thugs at a convenience store. It resulted in a…
A Convenience Store is a Grocery Store on Steroids
Change takes effect much faster in a convenience store than in a grocery store. By Bill Scott, founder of StoreReport LLC & Scott Systems Inc. Convenience stores make the perfect test labs for statistical analysis, because they offer an environment where the slightest change may have immediate, far-reaching and noticeable effects. In these compact environments,…
How Assumptions Can Kill Success
Proving the unprovable for fun and profit. By Bill Scott, founder of StoreReport LLC & Scott Systems Inc. I am neither an astronomer nor an astrophysicist. I don’t care if Pluto is a planet, a fly spec on the lens of a telescope or a famous cartoon character. It makes no difference if creation began…
Exploring Employee Research Groups
By Bill Scott, founder of StoreReport LLC & Scott Systems Inc. Employee Research Groups (ERG)s, once focused on personality traits or characteristics, such as age, gender, religious affiliations, etc. largely due to the Internet, are expanding into interest-based groups gathered around particular activities, such as environmental advocacy and workplace wellness. The five most popular…