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Retail

SNAP benefits permanently increased by more than 25 percent in USDA’s Thrifty Food Plan

News, Building Your Business, Featured, Seasonal Trends, EBT, Retail

On Monday, August 16, 2021, the U.S. Department of Agriculture (USDA) released a re-evaluation of the Thrifty Food Plan, which is used to calculate Supplemental Nutrition Assistance Program (SNAP) benefits. As a result of this re-evaluation, the average SNAP benefit–excluding additional funds provided as part of COVID-19 pandemic relief–will increase beginning on October 1, 2021. 

EBT Processor goEBT Adds Credit Processing, Smart Payment Terminals to Service Offering

News, Building Your Business, Featured, goEBT News, Retail, Retailer, Equipment, Technology, POS Equipment, Credit

EBT Processor goEBT Adds Credit Processing, Smart Payment Terminals to Service Offering

goEBT+ payment terminal application enables EBT, credit processing on one smart device

The Importance of Maintaining Great Business Credit

Building Your Business, Industry News, Retail, Retailer

According to the Small Business Administration, the second leading cause of business failure is insufficient or delayed financial support. In many cases, this is brought about by a poor business credit score. If you are unaware, a business' credit score is similar to a personal credit score. A person's credit can be improved by paying loans on time and avoiding any reoccurring debt. Business credit is almost exactly the same with minor differences. In today's blog, we will discuss the differences between the two and why business credit is important for the success of your business. 

How the new Families First Coronavirus Response Act can support the health of your business

News, Building Your Business, goEBT News, Industry News, EBT, Retail, Retailer

Now more than ever the American people will be turning to local businesses to meet their families’ nutritional needs. With the economic impact of COVID-19 the number of applicants for government assistance has doubled. As part of the U.S. government’s $2T stimulus package, an additional $15.5B has been allocated to the SNAP/EBT government benefits program.

Have You Heard of the NACS In Store Initiative

Building Your Business, Industry News, C-Store Trends, Retail, Retailer

A large part of gaining favoritism among legislation is bringing these officials to your level as a store owner and showing them how valuable your business is. In recent years, the value that C-stores provide to their community was lost in the eyes of legislators. Laws did not exist to protect the C-store industry from data breaches or loss of people's financial information. NACS is seeking better representation from legislators and government officials in the hopes of turning this around. Through this new initiative, NACS expects a better understanding from government leaders when passing laws to bring more success to C-Stores across the nation.

NACS is Working to Protect the Convenience Industry in Data Breaches. Find Out How They are Going to do it

News, Building Your Business, C-Store Trends, Retail, Retailer

It's unfortunate to admit but with past legislation, many C-Stores were left on the hook for crimes not caused by themselves. Recent years saw many convenient stores covering for issues caused by processing companies and credit consolidators like Equifax. These issues, mainly data breaches, cost millions of dollars to consumers and business owners when they happen. The tides are shifting and current legislation has made small businesses more of a priority by holding big processors accountable. 

Our Top 10 Favorite Retail Technology Developments

Building Your Business, Consumer Trends, C-Store Trends, Retail, Retailer

Technology is always making advancements to help whatever industry they are implemented in. Retail is no different and over the past decade, plenty of innovations have hit the market to make business life easier and improve a customer's shopping experience. In this blog, we will list our top 10 favorite developments, that we believe, can put your business at the forefront of the market and help you succeed. 

Your Guide to Staying Organized

Building Your Business, Seasonal Trends, C-Store Trends, Retail, Retailer

In business, time is money, and if you are spending too much time trying to maintain your store, you may be losing money in the process. Organization is more important than most people realize and it can drastically affect how customers perceive your business and how you run it. If you're struggling to keep your products in order, reduce clutter, and track all purchases/invoices then here are a few tips to get your business back on track. 

Sales are High but Profits are Low, What Should You Do?

Building Your Business, goEBT News, C-Store Trends, Retail, Retailer

Issues with high sales and low profits usually relate back to your store's product margins. Margins refer to the amount you spend on a good versus how much you sell it for.  Simply put, when you subtract your cost of a good from the amount that you sold it for, the remaining amount is the margin.  The goal of any business owner is to maximize their margins so that they are gaining as much profit as possible from every product they carry. For many businesses, combining the cost to ship and purchase the good while keeping it at a low price for their customers leaves them with little money left in their pockets. Factor in all the other expenses businesses have each month, and people can be operating in the red and losing money more often than they can afford to.  If you find yourself in a similar situation, we have some options for you: 

Top 8 Technologies for High Volume Small Businesses

Building Your Business, Consumer Trends, C-Store Trends, Retail

As the title mentions, this blog is meant to assist the businesses who struggle with high traffic coming into their store, and their ability to cater to all their clientele efficiently.  While the profits from consistent rushes are great for your wallet, if you are unable to help every customer who comes through the door then you might lose business over time. Now, these tips are not just for those businesses who have high volume, but can also help businesses who are looking to increase their shoppers.