Category Archives: XNews

Shop Insurance Buyers Guide

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Business owners often find that it is both pleasurable and challenging running their own retail shop. An important aspect of running a small successful retail unit is that you must ensure that your business is insured for all unforeseen eventualities. Failure to have a correct shop insurance policy in place will ensure the business is well equipped to face any unexpected disasters such as theft and liability claims.

A simple inventory of your shop retail business can highlight what sort of sum insured you need. If your business stops trading for a day, week or even longer period due to a fire claim for example could cripple most companies under this scenario. Obviously there is the cost of replacing the lost stock, loss of revenue and legal costs. All these items and more can easily be covered under a single shop package insurance policy. Getting the right cover in place ensures your business is protected now and for the future.

How to assess what you need insuring?

The most simplest way to understand exactly what the best package is suitable for your shop is to speak with a professional insurance broker that specialise in commercial insurance solutions for small businesses. Explain to the broker your current setup and they will then tailor a shop insurance package that will meet the needs of your retail business. Other options include utilising the power of the internet. There are many guides and small business portals available that have information on all types of things such as tax, legal, regulatory and insurance.

Getting a shop insurance quote online

There are many online quote systems catering for small business owners such as newsagent, salon, pub, café, grocers etc. Some of these quote forms simply catch the information you enter and pass this onto an advisor who then will contact you with a quotation or request additional information. Other systems will provide instant online shop insurance quotes and some even compare prices with a wide range of insurers and underwriters. To get a quote you usually require certain information to hand. Typical questions asked include:

  • Name and address
  • Type of business
  • Contents sum insured
  • Building sum insured (if applicable, you could be renting and landlord has the premises insured)
  • Previous claim history
  • Security measures

The above are just a few examples of the question set that may appear on a quote form. It is the duty of the policyholder to disclose all material facts to the insurer. Failure to do so could invalidate the policy and claims not honoured. It might be tempting to say that your premises are fitted with a burglar alarm system to get cheaper premiums. This is false economy and almost always ends in a disaster for the shopkeeper.

There many excellent commercial insurance brokers who offer highly competitive shop insurance policies that can be paid on flexible monthly terms. The shop owner can then budget this into their monthly expenses sheet.

How to Rid Yourself of Shopping Addiction

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Shopping, a favourite hobby of many of us, can sometimes lead to an uncontrollable addiction. For some, the act of buying satiates a hunger that seems to be never ending. Before we know it, we have fallen prey to the dangers of uncontrolled spending.

If you suspect you have a shopping addiction, take comfort in the fact that knowing is already half the battle. Here are some tell-tale signs that can help you know whether or not you are fighting an addiction, and what you can do to prevent yourself from going overboard with retail therapy.

Sign 1: Your home is filled with stuff that remain unused. It is an addiction when you simply feel that you have to buy something, even when you know that you have no real need or use for the item you are buying.

Shopping addicts tend to spend a good portion of their day in the mall, surfing online shopping sites, or watching shopping channels on TV, waiting to find something they can buy. Healthy shoppers, on the other hand, only visit online or offline stores when they already know what they need or want to buy and are just looking for the right item.

What you can do: Distract yourself with other activities. Participate in sports, go out with friends, or join community civic projects and other similar endeavours.

More importantly, stay away from places that tempt you. Ask somebody to block your access to online shops and never give you the password that will disable the blacklisting. Cut off your cable subscription to that home shopping channel. Stay away from malls.

Sign 2: Your credit card bill is so unusually huge, it is causing your family to become concerned. Maybe your family is used to you spending a lot – but not this much! If your recent credit card bills have become much larger than what your family is used to seeing, if you find yourself being questioned for your spending because it is larger than it used to be, then you may have a shopping addiction.

What you can do: Replace your credit card with a debit card to actively limit your spending before you’re completely buried in debt.

If you’re already buried in credit card debt, approach a debt management consultant to help you get out of the hole you’ve dug yourself into. Don’t think it’s a waste of money. It may in fact be the wisest thing you’ve spent money on in the past few months.

Sign 3: You find that shopping is the only thing that makes you happy. This is one of the most definite and dangerous signs of shopping addiction: You can’t distract yourself with sports and friends and other activities because all those other things fail to satisfy you. Nothing feeds your hunger except shopping. When you’re not spending money, you feel depressed.

What you can do: If you reach this point where only shopping makes you happy, you are not just dealing with an addiction; you are probably dealing with depression as well. At this point, you should definitely get professional help as soon as you can. Your doctor could be a source of help. Treat your depression, and control your addiction as well.

How to Rid Yourself of Shopping Addiction

Posted on by

Shopping, a favourite hobby of many of us, can sometimes lead to an uncontrollable addiction. For some, the act of buying satiates a hunger that seems to be never ending. Before we know it, we have fallen prey to the dangers of uncontrolled spending.

If you suspect you have a shopping addiction, take comfort in the fact that knowing is already half the battle. Here are some tell-tale signs that can help you know whether or not you are fighting an addiction, and what you can do to prevent yourself from going overboard with retail therapy.

Sign 1: Your home is filled with stuff that remain unused. It is an addiction when you simply feel that you have to buy something, even when you know that you have no real need or use for the item you are buying.

Shopping addicts tend to spend a good portion of their day in the mall, surfing online shopping sites, or watching shopping channels on TV, waiting to find something they can buy. Healthy shoppers, on the other hand, only visit online or offline stores when they already know what they need or want to buy and are just looking for the right item.

What you can do: Distract yourself with other activities. Participate in sports, go out with friends, or join community civic projects and other similar endeavours.

More importantly, stay away from places that tempt you. Ask somebody to block your access to online shops and never give you the password that will disable the blacklisting. Cut off your cable subscription to that home shopping channel. Stay away from malls.

Sign 2: Your credit card bill is so unusually huge, it is causing your family to become concerned. Maybe your family is used to you spending a lot – but not this much! If your recent credit card bills have become much larger than what your family is used to seeing, if you find yourself being questioned for your spending because it is larger than it used to be, then you may have a shopping addiction.

What you can do: Replace your credit card with a debit card to actively limit your spending before you’re completely buried in debt.

If you’re already buried in credit card debt, approach a debt management consultant to help you get out of the hole you’ve dug yourself into. Don’t think it’s a waste of money. It may in fact be the wisest thing you’ve spent money on in the past few months.

Sign 3: You find that shopping is the only thing that makes you happy. This is one of the most definite and dangerous signs of shopping addiction: You can’t distract yourself with sports and friends and other activities because all those other things fail to satisfy you. Nothing feeds your hunger except shopping. When you’re not spending money, you feel depressed.

What you can do: If you reach this point where only shopping makes you happy, you are not just dealing with an addiction; you are probably dealing with depression as well. At this point, you should definitely get professional help as soon as you can. Your doctor could be a source of help. Treat your depression, and control your addiction as well.

Fuel-up to Shop or Shop to Save Fuel?

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With gas prices being so low, uh I mean HIGH (almost got you there), people are starting to wonder which is better, to stay home and shop on-line or to get in my car and head to the store. Let me start by giving you some online retail information.

According The Census Bureau of the Department of Commerce, the estimate of U.S. retail e-commerce sales for the first quarter of 2008, adjusted for seasonal variation, but not for price changes, was $33.8 billion, an increase of 0.8 percent (±1.0%) from the fourth quarter of 2007. Total retail sales for the first quarter of 2008 were estimated at $1,024.2 billion, an increase of 0.1 percent (±0.2%) from the fourth quarter of 2007. The first quarter 2008 e-commerce estimate increased 13.6 percent (±1.2%) from the first quarter of 2007 while total retail sales increased 2.8 percent (±0.2%) in the same period.

E-commerce sales in the first quarter of 2008 accounted for 3.3 percent of total sales. On a not adjusted basis, the estimate of U.S. retail e-commerce sales for the first quarter of 2008 totalled $32.4 billion, a decrease of 16.9 percent (±1.0%) from the fourth quarter of 2007. The first quarter 2008 e-commerce estimate increased 13.4 percent (±1.2%) from the first quarter of 2007 while total retail sales increased 3.7 percent (±0.2%) in the same period. E-commerce sales in the first quarter of 2008 accounted for 3.4 percent of total sales. Click here for more information: http://www.census.gov/mrts/www/data/html/08Q1.html

Now, you may think that with only 3.4% of consumers shopping online that the trend is negative and not very popular. Let me put things in perspective for you…it was only 0.6% in 2000! So although it is clear that physical shopping is still the preferred method of shopping, virtual shopping is on the rise. With gas prices always rising, online security improving, shipping cost reducing, and online “special” becoming very aggressive…you may be the next person joining the online shopping growth! Here are a few tips for shopping online: there are a few things to keep in mind when choosing the right online store. First, check their security. Do they have a certificate (https://) or hacker proof? Then, read their policies…don’t just click “agree”. Some policies are not clear and very misleading.

Then, look for a purpose! I found that many sites give you ways to shop that are very rewarding. Some online mall may provide shopping while giving to charities (up to five). Plus you may even get great rebates, access to brand name stores such as Land’s End, Office depot, etc… Points or loyalty program is something that you should also take in consideration…you know, the WIIFM (what’s in it for me) factor. This is online shopping at its best!!! And let’s not forget our blogging…you will find many articles on online shopping with ideas on goodwill, donating, volunteering, fundraisers, and much, much, more!