The world of retail is extremely competitive and the competition continues to intensify with the added competition of online stores. Standing out from the competition can be done in a variety of ways to help grow a retail business. Not all types of retail stores can use the same strategy to stand out as certain stores will need to have a more relaxed approach with others having a more serious approach. When buying medical supplies you want a more serious approach but in a toy or video game store a more relaxed approach will help foster more sales. The following are ways that you can stand out with your retail based store.
All retail stores should have some form of swing tag as it makes it easier than ever to read sizes as well as pricing. These attract the eyes of customers and can help increase conversions. Certain brands do a much better job than others of catching the eyes of a buyer. The added detail of something as simple as swing tags allow products to stand out even if in a rack of a large number of other products. These swing tags products can allow a store to increase the price of the product so the margin is higher. The better the margin on products that sell due to catching a customer’s eye will help margins for the store as a whole.
Respond To Online Reviews
Everyone flocks to the internet to see if a store is worth visiting or not. One scathing review can impact all customers that walk into the store that looked it up online. The time that is takes to respond in a constructive manner to a negative review shows all current and potential customers that look up reviews that you care about their customer experience. Small retail stores often times do not monitor what people are saying about them online which can directly impact the amount of visitors to the store on a daily basis.
Offer Discounts Via Social Media
Social media is a free platform that a retail store can grow a community of followers in the area. This can be the perfect place for a person to reach out to see if a new product has come in. This can also be a great way to offer discounts for a retweet or share of a post on one form of social media. This will help maximize your reach in the local area as well as drum up business from return customers. This might also be a place where people voice complaints so it is important to monitor as well. You can retain a customer that otherwise would have not returned simply by offering a solution to the problem that they have had. If a person is being abusive it is important to take the high road as it will reflect poorly on the store if you go back and forth with personal insults.
Standing out from the competition is important to do so small things like carrying products with flashy swing tags can impact your profits immensely for the month. Be as proactive as possible and deliver provide great products for your store to flourish. As a working mother this might seem like a lot but you are used to having quite a bit of responsibility daily!