A retail business buys products or services from a manufacturer or wholesaler and sells them to consumers, right? As easy as this might sound, it takes a lot of initial work and planning to start up the business. However, with the right strategy and adequate planning, your business will stand the test of time. In today’s article, we put together three common retail mistakes and show you how to avoid them.
A store’s layout is one of the key strategies in its resulting success. Therefore, a lot of time and effort has to go to assemble the key features that would represent the store. Not dong this is one of the most dreadful retail mistakes a retailer can make.. Make a strong first impression from the entrance with your store design and ambiance. Place displays showing discounts and ongoing promotions in very conspicuous locations. Baskets, carts, and trolleys should be kept to the right., as more people are right-handed, they turn right as soon as they enter a store. Customer satisfaction includes the ease with which customers can find their way in your store, so organize products and categories together so the customer can find items they are looking for in one location. Equally, put complementary products in proximity to promote an additional sale. Aisles should be wide to encourage traffic flow and direct customers on a circular path around the store. Essentially you should create an environment that strategically aligns with customer’s behavior while considering taste and ambiance.
The level of trust your customers have for your business determines if they will be comfortable enough to share their personal information with you. This level of trust is usually not achievable in a pure transaction environment. Customers want retailers to know them intimately and expect a personalized experience, so you have to look beyond the routine transactions to add value and score a much loyal customer base. Building a relationship requires an open line of communication between yourself and the customers. By doing this, you give customers a reason to share information they mostly wouldn’t. The simple act of listening and learning from customers will go a long way in ensuring loyalty and longevity in business.
Our new reality has come with everyone embracing the need for an online presence. Being active online is being visible where your customers are. Your business must have a footprint online to engage customers via your e-commerce site, your social media pages, or an app. The 21 century and the present-day reality has changed the way we interface with customers. Retailers need a digital marketing strategy to evaluate how customers interact with their products and other retailers across channels. With this platform, you can educate consumers about your brand. For example, you can put out information like upcoming promotions, testimonials, blog posts, and every other detail that might be hard to showcase in-store on your online profile. A store’s online presence overflows directly into the in-store experience, which then presents customers a chance to feel the products they have already exposed to online. One of the retail mistakes, retailers are making is to think of their online store as a separate entity from the physical store. Never think of online and in-store as an either/or proposition. Use both venues to build relationships with your customers.
Loyalty and long term relationships begin with small critical steps. Although it might take a little while, with commitment and innovation, relationships and loyalty will flow naturally.
Thinking of how to start, you can start your retail innovation with a point of sales software that connects the instore and online experience for your customers. Contact us to begin your journey: email@example.com.
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