Retail industry resources are evolving as new technology replaces old modes of billing and collection operations. And as the landscape surrounding retail industry analysis continues to grow, you have to keep up with retail industry research to be able to make the best presentations and know what your competitors are doing and what you clients are demanding.

Read retail industry statistics in magazines that can keep you updated with news and information that is specific to your company. Take advantage of US retail industry trade groups that keep members apprised of news and trends. Attend seminars and meetings where retail experts can frame the current economic outlook and show how it will affect your sales figures. Look for retail industry information resources news and trends in a number of ways.

1. Follow the writings of a retail industry analysis expert.

2. Ask your staff to collect retail industry information.

3. Learn about new retail industry resources through your trade group.

Action Steps
The best contacts and resources to help you get it done

Get regular retail industry news online

Get retail industry research from resources that you know will send you news that's important to your business. Find a columnist that hits the points you need to know about; look for niche publications that cover the changes in your specific line of consumer goods and include general news in your daily reading to keep up with consumer confidence figures so that you can prepare for the coming trends.

I recommend: Retail Industry News Weekly stays on top of national trends that you should watch to remain competitive and be prepared for the movements in the nation. Find niche news for your business in the publication that’s always on top of the latest resources at Convenience Store News.

Read together from the latest retail industry reference reports

Retail industry news will point you to emerging markets where you may find deals from suppliers and vendors. Retail industry analysis and reports can reveal the latest software and hardware that can streamline your stores and your HR operations.

I recommend: Put someone in charge of keeping up with global retail news through Association for Retail Environments. Sign up for specific reports that a number of your staff could share at Retailnet.

Join groups that provide retail industry information resources

Most trade associations produce valuable retail industry statistics that they know will affect your business because retail industry professionals run the groups and have the same vested interest in the latest news. Get involved with your trade association and take advantage of the group's newsletters and trade shows.

I recommend: The International Council of Shopping Centers keeps members apprised of retail news that is important to those involved. Keep up with industry events you don’t want to miss while following the day’s headlines through the National Retail Federation.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Ask your peers what new retail industry reference publications they are reading and try them out. Most publications will provide a free trial sample before you need to subscribe.

Retail industry information resources are essential if you want to start any type of retail business. With the right retail industry information, you will be able to structure your business in the way that is most profitable.

You can find retail industry resources in many different ways, from books and magazines, to websites and newsletters. Each format has distinct advantages and disadvantages, so make sure you look at each one to decide what's best for your business.

Some of the reasons why you might need retail industry information resources are:

1. You are new to the industry and are thinking about starting a retail industry business. You'll need as much information as possible to make a good choice.

2. You want to expand your business. By studying retail industry trends, you'll get a better feel for the industry and find new ways that you can increase your profits.

3. You want to compete effectively in the retail industry. When you perform a retail industry analysis, you'll be able to see what works for other businesses and begin to get ideas of how you can set yourself apart from the competition.

Action Steps
The best contacts and resources to help you get it done

Go to the government for retail industry statistics dating back several years

You cannot argue that the government is going to provide some of the best research for your business. Find the data that you need and carefully study it to notice industry trends that can help your business.

I recommend: The U.S. Census offers detailed statistics on sales from many retail industries. Look for the most up-to-date information on economic factors by visiting the U.S. Census main page. Keep in mind that the government does major surveys every five years, so data may be slightly outdated.

Hire a market research firm to gather retail industry information

It can be difficult to interpret retail industry statistics. Many business owners may not understand how the information in front of them can affect their business. In cases like this, it's a good idea to hire a professional to compile the data and help you form an actionable plan.

I recommend: Frost & Sullivan has a number of research groups at its service and aims to help you develop a plan for business growth. They can examine your particular segment of the retail industry, ask customers what they want and help you to develop that. Research and Markets is a market research company that conveniently sells reports on various industries. You are likely to find a report on your segment.

Sign up for a newsletter to receive retail industry news in your email

Business owners should always stay up to date on current trends, but it can be difficult to find the time to do so. Newsletters easily help you stay up to date and are often free of charge.

I recommend: RetailWise Retail Management Newsletter was on "Best Ezines" and can provide you retail information and tips for working in the industry. At JRob Consult, you can read past issues of the newsletter before signing up for future issues. If you do sign up, you'll also receive a "101 Retail Tips" ebook that could help you with your business.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Start a library including reference material and magazines that discuss current retail industry research. Make sure that all employees have access to this so that you can get ideas from everyone.

Retail industry information resources education and training is essential for business owners that work in and with the retail industry. Whether you take a class, read a report or search through retail industry information resources, it is important to keep yourself up to date.

Many educational institutions offer courses on the US retail industry, but if you do not have the time to sit in a classroom there are alternative ways to find and understand retail industry information resources. Some things to keep in mind when looking for retail industry information resources are:

1. Reports contain retail industry statistics and retail industry trends.

2. Newsletters are an ideal source for a current retail industry analysis.

3. Online educational papers or courses are great retail industry reference materials.

Action Steps
The best contacts and resources to help you get it done

Go to retail industry resources for up-to-date training

Industry associations are some of the most fact-filled sources of retail industry news materials, reports and training opportunities. Retail industry reports offer statistics, trends and news about the industry. Regardless of your type of business, it is essential to stay abreast of the happenings in the retail industry. For the latest information, attend association training events and read reliable sources and reports.

I recommend: The National Retail Federation offers a wide range of training resources, including a series of webinars. If you deal in the college retail industry, check out the Professional Development page on the National Association of College Stores website for a selection of education and training opportunities.

Attend US retail industry events to keep your knowledge fresh

If you own a retail business, or your work in the retail industry, you know it is important to stay current with the latest retail industry news and information. Conventions, seminars and trade shows are great places for any individual that works within the industry, and they are also a great source for business owners that work with people in the retail industry.

I recommend: The Association for Retail Environments offers several training programs and seminars at events and conferences throughout the year. Or, sign up for one of the Retail Leaders Industry Association's many training events.

Take online or traditional classes to expand your retail industry education

Whether you are looking for a job in the retail industry or your just want to further your current skills and knowledge, a class is a helpful tool. Or you may want to try reading through a few research papers to gain a feel for the current retail industry statistics.

I recommend: The David F. Miller Center for Retailing Education and Research offers several programs for retail industry professionals, including an MBA in Retailing. For online retail classes and degrees, check out Capella University.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Be sure to check the sources of your retail industry information resources. Some resources are written by unreliable sources, and other resources are not factual.

Much research needs to go into starting and maintaining any kind of retail business. Using the knowledge uncovered during research will help turn your business into a profitable one by making the best decisions on how to structure your business and maximize money-making opportunities. Information resources can come from a variety of places and range from inexpensive to requiring quite an investment, but the most comprehensive and accurate information will be gathered across many different sources. Before starting the process, get to know the following retail industry information resources key terms.

Action Steps
The best contacts and resources to help you get it done

Retail industry associations

A retail industry association is an organized group of people with a common interest in retail business, the advancement of the retail industry and sharing of knowledge of the retail industry.

I recommend: Learn more about the purpose of retail industry associations by reading the mission statement of one, the Retail Industry Leaders Association.

Retail trade shows

A retail trade show is a special event at which new and innovative retail goods and services are exhibited and demonstrated.

I recommend: Look through listings of upcoming retail trade shows at RetailSystems.com to see some examples of the specific retail industry segments they can target.

Statistics

Statistics is the numerical data collected, organized, and interpreted of surrounding the retail industry, such as industry sales reports, forecasts and consumer trends.

I recommend: Get a better idea of what retail statistics can tell businesses by researching the statistics complied by the U.S. Census Bureau.

Market research firm

A market research firm is a company that specializes in using various qualitative and quantitative research. They use techniques to gather and analyze the most in-depth data on the retail industry.

I recommend: Find out more information on what a market research firm, like QMS Partners, specializing in the retail market can do for your business.

Ezines

An ezine is an online magazine electronically distributed in regular intervals, just like any publication, and may be called cyberzine or hyperzine. It is an inexpensive resource for the most up-to-date retail information.

I recommend: STORES Magazine is one of the leading retail publications with a comprehensive ezine edition.

Niche publications

Niche publications are industry publications, also called trade publications, that cover information on specific industries such as fashion, recreation or drug stores.

I recommend: Find some major niche trade publications at Entrepreneur Magazine.