Plus: SBA microloan guide | What's Q-commerce?
Is sustainable really attainable? This week, we look at ways to make your business more eco-friendly to better the environment and attract socially-conscious customers. We also examine why entrepreneurs remain optimistic, but realistic, despite the challenging times.
But first, check out how Bangkok retailers are innovating with cutting-edge digital screens.
Dollars and sense: Dollar General unveils new store format, subscription program
RIP: Bay Area retail legend, Fry’s Electronics matriarch dies at 94
Private eyes: How going private spurred Nordstrom’s turnaround
Retail Rx: L.A. takes a page out of S.F.’s retail revitalization playbook
Biz owners beware: Avoid “QuickBooks support” callback scam
15 ways to become a more sustainable retailer
There’s a raft of statistics pointing to customers, retail leaders and employees all preferring sustainable business practices. So what can retailers do to implement best practices? Some are obvious: go paperless, source sustainable products, use recyclable packaging, recycle/upcycle/donate old goods, cut waste out of manufacturing processes, reduce your carbon footprint and use clean energy.
Less obvious ways: exploring a rental model, selling second-hand items or setting up a buy-back program. And, if possible, give customers the option for carbon-neutral shipping.
Why this matters: The key is to not only set sustainable goals, but to implement and stick with them. It's possible to achieve economic growth and climate change goals. (Shopify)
Why entrepreneurs remain optimistic in challenging times
In the latest “Small Business Check Up Survey” from the Small Business & Entrepreneurship (SBE) Council, 92% of small business owners described their current situation as stable or growing, including 22% who said they were thriving. Only 8% reported viability concerns. They also expressed cautious optimism about the economy, but 73% expressed some degree of concern about inflation, while 62% were worried about tariffs and 59% about a recession. Raymond J. Keating, chief economist of the SBE Council, said this kind of realistic optimism is necessary for the survival and growth of any small business.
Why this matters: Not having your head in the clouds or being a pessimist, but rather a realistic optimist, can inspire confidence about how your business will thrive in good times and survive in bad ones. (SBE Council)
American Express shares loan delinquency and write-off rates
How Target has retooled its premium beauty section
Business Loans 101: A complete guide to SBA microloans
Running man: Follow a day in the life of Nike’s new CEO
Harvard Business School study finds AI leads to “brain fry”
Why physical retail still matters in the era of q-commerce
Gaurav Manchanda, founder and director of sustainable retail chain The Organic World, believes that super quick delivery, or “q-commerce,” doesn’t have to mean the death knell for brick-and-mortar retail. Instant gratification may now be an everyday expectation, but speed alone won’t satisfy consumers entirely. Trust, discovery and confidence in their choices are key, and it’s nearly impossible to provide all three in a digital-only format. Speed hasn’t replaced trust; stores provide experiences and education and the future is omnichannel but human-centered.
“Quick commerce has changed retail forever, but it has not made physical stores irrelevant. Instead, it has clarified why stores matter: they build trust, enable informed choices and nurture long-term relationships." –Gaurav Manchanda
Why this matters: Manchanda thinks retailers that balance speed of delivery with substance will win. In an era of instant delivery, retail experiences that encourage shoppers to slow down and make better choices could be the most valuable. (ET Insights)
C-suite AI agents? MasterCard unveils virtual CFO for SMBs
Mastercard has launched a new agentic experience called Virtual C-Suite, which aims to streamline operations while helping SMBs manage rising costs. For small teams, this AI-powered system gives you access to innovative technology, data at scale and strategic expertise typically reserved for larger enterprises. The Virtual C-Suite integrates with the accounting systems, business software and banking applications that SMBs already use. The first roll-out, Virtual CFO, features user-friendly dashboards and conversational interfaces, enabling business owners to ask AI agents about cash flow fluctuations or underlying business trends (culled from billions of transactions annually).
Why this matters: Mastercard plans to expand the Virtual C-Suite with additional executive-function modules, allowing business owners to focus on operating and growing their businesses instead of managing complex administrative tasks. (AI Magazine)
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The SKUpe is curated and written by Marcy Medina and edited by Bianca Prieto.
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