5 Retail Secrets to Success

November 21, 2015

money-256319_1280Why do some retail businesses manage to stay successful for decades while others open and close shop quickly? It’s simple! Successful businesses know the retail secrets to success. Do you? Here are the top five:

Give customers a WOW moment.

With all the competition on the market, no matter what industry you’re in, customers are looking to be wowed. Find a way to make the customer experience superior to your competitors. Nordstrom did this by asking employees to send handwritten thank you cards to customers and walk shopping bags around the counter after a transaction. These small touches have made Nordstrom synonymous with customer care, and are easily replicable in any industry at any scale.

Don’t set spending limits on customers.

As you work on selling to a customer, you may find yourself stopping short of the full sale potential once you reach a number that you yourself would stop at if you were the customer. Repeat after me: you are not the customer and this is not your money. Never sell yourself or your business short by setting a budget for a customer. If a customer tells you upfront they have a certain budget in mind, be respectful of that number, but otherwise, it’s ok to continue selling until they say no.

Train your team.

There’s a reason why employees at Apple’s Genius Bar can answer any question you throw at them. They have been trained well. Invest your time in thoroughly training employees to understand your business and products. Customers should feel confident that the information your team provides is correct, and that they can get honest opinions on products from them. More importantly, train your team on how to interact with customers. Every customer should be greeted and offered help, but not harassed if they send “leave me alone” vibes. Customers should feel the presence of your employees in the store, but should not feel bothered by them.

Plan for the customer.

When ordering inventory, try to separate your own likes and dislikes from the customer’s. If a product line you’re carrying isn’t performing well, don’t keep it in your store because you’re a fan of it. The best feedback any retail business owner can get from customers is sales. Numbers don’t lie, so don’t lie to yourself by ordering something based on your own personal taste.

Look the part.

For brick and mortar stores, it’s incredibly important to be visually appealing, otherwise you’ll never attract new customers. Consider every interaction the customer will have with your store, from the website and social media pages to the window displays and in-store merchandising. There should be consistent branding across all of these platforms, and online information like store hours or upcoming promotions should be verified as accurate. Window displays should be updated frequently so returning customers don’t see the store as stale. No matter what visual display you work on, remember your target audience and design to appeal to their taste.

Business & Finance Articles on Business 2 Community


Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.