My sister has worked in retail for a long time, and with her help, we’ve come up with these tips to improve your retail store’s performance… Running a retail store is a challenge in the modern world. Not only do you have to compete with local businesses, but you also have to beat online stores to the sale. Plus, let’s not forget the additional costs of paying for premises and utilities.
Tips to improve your retail store’s performance
When business quiet, life can get very stressful for any business owner – including retailers. It’s worth reading on to ensure you’re doing everything you can to attract customers. Throughout this post, I will be exploring some ideas and tips to help improve your retail store’s performance.
Location Location Location
The majority of retail stores are located in convenient spots… This is a deliberate move. Enabling people to reach you while they handle other tasks, makes them more likely to pop in “when they are passing”. Letting others use your space is a brilliant way to increase foot traffic and potential sales. Offering your space as a venue for events, club meetings, and a range of other money makers can be a brilliant idea. A Cafe offering a parent and baby session on their quietest morning, or a book shop running a book club are great examples of this. Of course, this could mean the store is closed to others if you opt for an exclusive session,. However, it may be worthwhile if you know you’re likely to be quiet for the day, anyway.
Build Some Branches
Having some branches can be a powerful tool for a small business. I don’t mean tree branches in this instance… I’m referring to smaller versions of your business which can “pop up” at relevant events and venues. Investing in a couple of printed gazebos, means you can position your company wherever you like. In some places, this will require special permits, but it’s a great way to get your brand out there. If you specialise in organic goods, why not “pop up” at the local seller’s market or cruelty free event? For a relatively small outlay, you can improve your retail store’s performance massively.
If you haven’t already got a website for your business, make it your top priority. Try to find the funds to hire a professional if you don’t feel confident with computers. It’s not all that hard to build something for yourself using a services like Shopify or Squarespace though, and both can be a great, affordable option.
Build A Following
Over the last decade, websites like YouTube have taken the content consumption industry to new levels. Millions of people log on to watch clips from their favourite creators every day, and this is something which you can take advantage of. If you run a toy shop, it may be worth thinking about making video reviews for the toys you sell. Youtube is a good way to help your customers, and it can also become a source of income – once your views and subscribers are high enough to become monetised. Work With The Community
People usually appreciate local events and improvements. If a business works to make changes and improvements in your neighbourhood, they will often gain local popularity. This, in turn attracts more customers. To make this work best, the area which you improve must impact a portion of your target demographic. For example, if you’re trying to sell to parents, putting some investment into local schools or play areas could be the perfect option.
Those Who Can, Teach!
Lastly, it’s time to think about the skills which you have. In many businesses, teaching customers is considered a bad idea. This is because it can stop them requiring your services. In retail, though, the opposite is sometimes true, and teaching people can lead them to spend more money with you. If you are running a camera shop, for example, offering a photography session could be a great idea. People will always value a company which can do more than simply sell. If, like me you’re a fan of Apple products… You probably visit the Apple store for help, when you have an issue with your iPhone? Can you do that with your store? How about if you sell underwear, offer a bra fitting service. If your store specialises in computers, stock accessories and offer upgrades or 1-1 lessons to get technophobes set up.
Finally, I hope this information has been useful, and has given you some ideas to improve your retail store’s performance. Feel free to check out my business section for similar posts!