In 2022, brick-and-mortar retail grew faster than ecommerce for the first time in years, signaling that in-person retail is not only able to compete with its digital counterparts but is actually growing too. This means for those in retail or looking to start a new retail venture, this is a great time to push through with plans.
But what can you do to ensure your retail outlet is successful?
Location, Location, Location
Location plays a massive part in how successful your store will be. If you are in a location with other retail outlets, such as Main Streets or malls, then you will already be guaranteed footfall, but if you’re moving into an upcoming area, you need to be sure there are ample opportunities for you to attract customers. You need to be in a city that has excellent transport links and parking and is accessible for everyone, i.e., you’re not hidden away off the beaten path where many people might miss you. Being too close to competitors might not work so well, but if there are similar stores in the vicinity, this could also signal that there is a demand for what you are planning to sell so that it could work in your favor. Avoid opening up in an area that is potentially already saturated, removing the opportunity for you to stand out against established businesses.
Neat and Tidy
Now, this is something you really need to keep in mind: customers absolutely hate going into stores that aren’t neat and tidy. If they see misplaced products, clutter, stains, dust, or just an unclean look in general, they’ll leave. Untidiness, and especially lack of cleanliness, make customers feel uncomfortable, and they’ll just go to other nearby establishments instead.
While yes you can get your staff to do some cleaning, like sweeping and mopping, you’re still better off hiring commercial cleaning services to get the job done for you, such as waxing the floors, removing tough stains, and so on. But be sure to get your staff to constantly keep an eye on the inventory and how it’s displayed, as customers do pay attention!
Staff Training is Vital
When opening a store, it is vital that all of your employees offer exceptional customer service to be able to process sales and orders efficiently, handle queries, run stock, and keep things moving as they need to be. You need to ensure that you and your members agree to OSHA regulations for retail to keep themselves and customers safe and that they strive to offer helpful service and a positive experience for everyone who enters the doors.
Inviting Atmosphere
You need to create an inviting atmosphere to entice people through the doors. This could be an exciting window display showing off your wares and having music playing in-store: SiriusXM for Business offers easy installation, attractive lighting, and in-store displays encouraging people to come in and browse.
You can choose to have an employee standing at the door or entrance to welcome people in and assist if required, or you can place staff around the store ready to help at a moment’s notice.
Good Stock Levels
Lastly, you must ensure that you keep good stock levels so people aren’t faced with empty shelves or continually low stock levels when shopping. If this is something shoppers encounter frequently, chances are they will find another retailer frequently to get what they need. Check inventory, rotate it regularly, first in, first out, to retain freshness and quality, and monitor all instances of fast-selling stock and slow-moving lines so you can keep your orders correct and avoid losing money on stock that won’t shift or not replenishing fast selling lines when needed.
Opening a retail outlet is still a viable business option, even in a world dominated by ecommerce. But knowing what you are getting into and how to attract and retain customers can make this a successful venture.
