Saturday, September 18, 2010

Competing in Retail

Point to keep in mind to competing in Retail :-

    Part of running a successful retail store is being able to compete with other stores or even online web sites that sell products identical to yours. You have to find something that makes you unique and push it. You don't necessarily need expensive advertising or marketing to make a name for yourself, but you do need to promote yourself in different ways.




1) Make sure that people are aware of what makes you special. You may want to put signs in your front window displaying what special brands you carry. The manufacturers will often send you free promotional material if you ask. If you run newspaper ads, magazine ads, or other types of paper communication, make sure that you include details about your store in the print. Be careful not to only mention a sale and forget that a new customer might be reading and need to know why they should come to your store as opposed to going online and finding your products at a discount.



2) Promote yourself socially. There are several social web sites that can help you to become popular. Not only will you notice jumps in search engine rankings, but you'll notice that it's easy and free to communicate with your customers. Holding contests or having give-aways are great ways to get new fans. People that talk about you to their friends are immensely valuable and social sites are the easiest way to make that happen.



3) Give your customers something to talk about. People love to get a good deal. How many times have you complimented someone on their shirt, shoes, handbag, or accessories only to hear a response that tells you how they came about owning them? You rarely hear, "Oh yes, these shoes are very well made." More often you hear something along the lines of "I got the best deal on these!" People are excited to share their shopping experiences, whether they are good or bad. So, make sure that each person that enters your store has a great experience, even if they didn't buy a thing.



4) Pay attention to the little details that can make people happy to shop in your store. No one likes to dig through cramped racks or bins. They also don't want to be smashed up against other customers while they shop. Use a slatwall display system to keep the store nice and neat. When items are displayed on slatwall or slatwall panels, they are highly visible and easy to browse. You can easily maneuver slatwall accessories to accommodate different inventories at different times of the year, with very little effort. Spotlights can give texture to the space while increasing product "pop" and deterring theft. Don't blast music so loud that it gives people a headache. Make sure that your staff always exhibits unwavering customer service skills and always goes above and beyond for your customers.

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