The recent troubles and potential massive store closures at House of Fraser and Poundworld have sent shock waves through the retail sector, but the impending death of the high street may be being exaggerated.
Many smaller retailers are showing the way ahead with innovative ideas about how to attract customers, while containing their top-line costs. It has not escaped the attention of these traders that many companies are struggling with high and long-term rental costs and out-dated offers to the customer in store.
So the first step is to ensure that any rental agreement is set at an affordable rate and that rent reviews are kept to a minimum over the rental period.
To ensure that the offer in-store attracts customers it is vital to involve employees in your strategy.
Provide a forum
Sales staff on the frontline can offer valuable insights into how the business can improve. Try to take their ideas on board or provide a forum where ideas can be discussed. Remember they are the ones likely to influence customers first impression of the store.
Another strong tip is, whatever the size of your organisation, continuously train staff. It is important that they are given as much information as possible about the products you sell, to ensure rapport with your customers. A browsing customer can be turned into a purchaser by a member of staff who has good knowledge of the products and an engaging manner.
In store Media
The correct choice of in store media can also make an immediate impact on customers. Tailored offers such as those provided by https://moodmedia.co.uk/in-store-music-for-business/ can help to influence client buying habits. Note that you’ll probably need a PRS (Performing Rights Society) licence for music if you play recorded music in your store. This can include playing a CD, radio, or a music channel.
You also need to listen to your customers. Get to know them and get their opinions, it may be the best free business advice you ever receive.
Tap into your customers’ emotions. Buying is often an emotional experience making the purchaser feel good about themselves. The ambience of your store will help the sales ledger.
A common mistake is thinking you know your market and so the more you discuss it with staff and customers the more successful you will be.
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