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How a Grocery Business Can Benefit from a Mobile App

How a Grocery Business Can Benefit from a Mobile App, most grocery stores lag behind their retail counterparts in taking advantage of app development.

Published

5 years ago

December 9, 2019

TwinzTech

How a Grocery Business Can Benefit from a Mobile App

Having a mechanical arm is essential for modern businesses. It’s the best way to reach a wider audience, increase customer engagement, and offer better analytics. However, most grocery stores lag behind their retail counterparts in taking advantage of app development.

This is a shame as well because the demand for these types of mobile apps is definitely on the rise. According to a report from the Progressive Grocer, about 43% of people report that they’d instead shop for groceries online rather than visiting a physical location.

Mobile App Can Benefit for Grocery Business

These statistics mean that the development of these apps is sure to rise and, in the meantime, a grocery business can stand out from the crowd with the implementation of a high-quality app. Also, several benefits will cause a grocery business to see a significant rise in profits if they develop, operate, and maintain their app correctly.

Table of Contents

1. An App Adds Convenience

It’s a basic concept of business that the easier it is for a consumer to shop with a company, the more they’re likely to do just that. Almost no one will choose a business that inconveniences them when a less stressful and high-quality option is available.

For grocery stores and other businesses alike, an app streamlines the customer experience. Through one, they can easily place orders and more comfortably browse the store’s collection of products for sale.

2. Apps Offer Additional Advertising Potential

Apps Offer Additional Advertising Potential for business

If a company wants to make a profit on a high volume of sales, they need to retain customers and entice them to make additional purchases. Traditionally, this has included steps like flyers or coupons delivered in the mail. Unfortunately, this comes at a high cost.

An app can be leveraged in marketing because it allows businesses to utilize features such as push notifications and alerts. These can be used to remind customers of deals and even encourage impulse spending.

3. An App Can Be Used to Build Customer Loyalty

A business or application company can take advantage of the fact that apps require a customer to have an account to use the app and make purchases. This affords them a chance to enroll these consumers in loyalty programs automatically.

These types of programs reward customers for stacking purchases, usually through a concept like a points-earned system. This encourages buyers to continue to make purchases with the grocery store to achieve a new deal.

4. Apps Allow for Order Tracking

Apps Allow for Order Tracking

What someone purchases at a grocery store can be cleverly implemented in targeted marketing. For example, if someone frequently buys one product, the company can use that information to recommend them similar products. This pushes them to buy new things that they may not have otherwise.

With the analytics from an app, businesses can easily see what customers are buying on each account. This will help them to make future recommendations and edit any personalized notifications that the app sends them.

5. An App Can Help Build a Brand Image

An app gives a business a unique opportunity to show consumers the personality behind a business. Through the visual design of the app and the features that it offers can solidify the impression, the company leaves on a customer.

Not to mention, just having the logo of the app in their periphery all the time can build up brand recognition between a customer and the store. This is another component that plays a huge role in customer retention.

Overall, developing an app to add functionality to your business, as for a grocery store, these apps can drive up profits, decrease advertising costs, and streamline the customer experience. This can build up consumer loyalty and increase the number of orders that each one places.

Business

Navigating the Process of Selling Deceased Estate Shares

This article aims to provide a comprehensive guide to selling shares from a deceased estate. Process of Selling Deceased Estate Shares.

Published

3 months ago

May 9, 2024

TwinzTech

Navigating the Process of Selling Deceased Estate Shares

Table of Contents

1. Understanding the Basics of Selling Deceased Estate Shares

Dealing with a deceased estate can be a challenging and emotional process, especially when it comes to handling financial assets like shares. This article aims to provide a comprehensive guide to selling shares from a deceased estate.

2. What are Deceased Estate Shares?

Deceased estate shares refer to the stocks and shares that were owned by an individual who has passed away. These shares become part of the deceased’s estate and are subject to the terms of their will or estate plan.

3. The Importance of Valuing the Shares

The first step in selling deceased estate shares is to obtain a current valuation. This valuation is crucial for several reasons: it helps in distributing the estate among beneficiaries, it may be necessary for tax purposes, and it gives an idea of the market value of the shares.

4. Legal Requirements and Executor Responsibilities

The executor of the estate plays a pivotal role in the management and distribution of the deceased’s assets. This section will cover the legal responsibilities and steps the executor needs to take to lawfully sell the shares.

5. Obtaining Probate

Before any action can be taken with the shares, it’s often necessary to obtain probate. Probate is a legal process that confirms the executor’s authority to deal with the deceased’s assets.

Transferring Shares into the Executor’s Name

Once probate is granted, shares may need to be transferred into the name of the executor. This process varies depending on the company and the type of shares.

6. The Process of Selling Shares

After completing legal formalities, the executor can proceed with selling the shares. This section will outline the steps involved in this process, including choosing a brokerage or financial service, understanding market conditions, and making informed decisions.

Deciding on the Right Time to Sell

Timing can significantly impact the returns from selling shares. Executors need to consider market conditions and financial advice to determine the best time to sell.

Completing the Sale

This subsection will detail the actual process of selling shares, including placing orders, handling transaction fees, and ensuring all regulatory requirements are met.

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7. Navigating Tax Implications and Reporting

Managing tax obligations is a critical aspect of selling deceased estate shares. This section will explain the potential tax implications and the importance of accurate reporting for both capital gains tax and inheritance tax considerations.

Understanding Capital Gains Tax Responsibilities

When shares are sold, any profit made from the time of the deceased’s passing to the sale date may be subject to capital gains tax. Executors need to be aware of these implications and plan accordingly.

Inheritance Tax Considerations

In some jurisdictions, the value of the deceased estate’s shares might impact inheritance tax calculations. It’s essential for executors to understand these aspects in order to ensure compliance with tax laws.

8. Common Challenges and How to Overcome Them

Selling deceased estate shares can present unique challenges. This section will discuss common issues such as disputed wills, fragmented information about the shares, and market volatility.

Dealing with Disputed Wills and Beneficiary Disagreements

Disputes over the will or disagreements among beneficiaries can complicate the process. Executors must handle these situations delicately and legally.

Managing Market Volatility

Shares can be subject to market fluctuations. Executors should be prepared for this volatility and may need to consult financial advisors to navigate these waters effectively.

9. Tips for Executors Handling Deceased Estate Shares

This section will provide practical advice for executors, including the importance of seeking professional advice, keeping thorough records, and communicating clearly with beneficiaries.

Seeking Professional Financial and Legal Advice

The complexity of selling shares from a deceased estate often necessitates professional advice. This can range from legal counsel to financial advisory services.

Record Keeping and Communication with Beneficiaries

Maintaining transparent and thorough records is crucial. Executors should also prioritize clear and consistent communication with all beneficiaries to avoid misunderstandings.

Conclusion

Selling shares from a deceased estate is a responsibility that requires careful attention to legal, financial, and interpersonal dynamics. By understanding the process, staying informed about tax obligations, and tackling challenges head-on, executors can fulfill their duties effectively and respectfully.