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Starting your own retail business for today
The first thing to understand is that almost all the textbooks on retailing are redundant. In fact, any written before the Internet existed should be abandoned without reading.
Retailers for the customer of today need to know how to;
Customers want no fuss or hassle when trying to buy your products. Ensure that your purchase system is easy to use for customers and staff and that the waiting time is as short as possible.
Look at your retail store layout for access and flow to see if customers can interact with all your shelves, display points, and sales tables with ease.
With this in mind you also need to enable your retail store to be able to process customer payments from a wide range of sources. Direct debit, credit cards, eftpos, cheque and cash as a minimum.
Tip #2 Be open and have stock available at all times
Online shopping is increasing because shoppers know that the product they want will be found somewhere online. They have become frustrated with retailers saying "Sorry, we don't have what you want but we can order it in for you."
The customer will often respond with "That's okay. Don't bother I will just go online and order it myself now."
Make sure your retail location is allowed to be open at the times your customers want to find you open. Check your trading hours restrictions and consider the staffing requirements of being open when your competitors are not.
Tip #3 Make your store an experience destination
Give your customers a reason why they want to visit your retail store and want to stay longer. This generation of customer's want an experience from your store, not just buying things.
With the right strategies it is possible to maintain retail sales growth in the face of online competition, as long as the retail owner listens to their customers.
The first thing to understand is that almost all the textbooks on retailing are redundant. In fact, any written before the Internet existed should be abandoned without reading.
Retailers for the customer of today need to know how to;
- Use the power of social media for branding as customers want to trust you first
- Develop a strong website presence, even if you don't have an online shopping channel, you still need one for advertising
- Respond to customers that will use their mobile technology to scan your products and prices to make instant comparisons
Customers want no fuss or hassle when trying to buy your products. Ensure that your purchase system is easy to use for customers and staff and that the waiting time is as short as possible.
Look at your retail store layout for access and flow to see if customers can interact with all your shelves, display points, and sales tables with ease.
With this in mind you also need to enable your retail store to be able to process customer payments from a wide range of sources. Direct debit, credit cards, eftpos, cheque and cash as a minimum.
Tip #2 Be open and have stock available at all times
Online shopping is increasing because shoppers know that the product they want will be found somewhere online. They have become frustrated with retailers saying "Sorry, we don't have what you want but we can order it in for you."
The customer will often respond with "That's okay. Don't bother I will just go online and order it myself now."
Make sure your retail location is allowed to be open at the times your customers want to find you open. Check your trading hours restrictions and consider the staffing requirements of being open when your competitors are not.
Tip #3 Make your store an experience destination
Give your customers a reason why they want to visit your retail store and want to stay longer. This generation of customer's want an experience from your store, not just buying things.
- Is you store attractive and clean
- Have you set aside areas where customers can stay and relax
- Do you have talking points for customers to share comments about
- Have you considered adding a coffee or book reading section
With the right strategies it is possible to maintain retail sales growth in the face of online competition, as long as the retail owner listens to their customers.
Information supplied by Paul Baker
Over twenty years of business development & change management strategies successfully used in National organisations across Australia. The focus is on continuous improvement of business systems to stimulate growth through our principles of Initiate, Inspire, Innovate.
Customer-centric focus using our extensive experience in consumer behaviour and business process operations to find ways to help business owners manage their organisations.
Avatar Business Intelligence
avatar@startingbusinessadvice.com.au
http://startingbusinessadvice.com.au
Over twenty years of business development & change management strategies successfully used in National organisations across Australia. The focus is on continuous improvement of business systems to stimulate growth through our principles of Initiate, Inspire, Innovate.
Customer-centric focus using our extensive experience in consumer behaviour and business process operations to find ways to help business owners manage their organisations.
Avatar Business Intelligence
avatar@startingbusinessadvice.com.au
http://startingbusinessadvice.com.au
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