How Retailers Can Increase Their Sales
Running your own store can be incredibly hard work
, but it can also be incredibly rewarding when you start making a profit and regular customers frequent your establishment. But for many new retailers, attracting customers to the merchandise can be an uphill struggle. If you have recently opened a retail store or are planning to in the future, it can be beneficial for you to read up on tactics that can entice shoppers to make a purchase. Here are a few tips for turn those browsers into buyers:
1) Advertise and promote your store. If your store has experienced a sales slump, you might be thinking that its time to make a few budgetary adjustments to stay afloat. Whatever you do, dont skimp on your advertising budget. This is a time when you really need to get your stores name out there and attract some new prospective customers.
2) Set Up You Store for Sales. When youre designing the sales floor, you should do so in a way that encourages the shopper to make purchases. This can be in small ways like creating impulse sales opportunities by the register or in larger ways by arranging sturdy store displays in an attractive and eye catching manner. These store fixtures are a great way to draw attention to merchandise that is easy to overlook, like jewelry. By illuminating these items in a beautiful glass showcase, you really pull the browser in and make them look at whats in the showcase. In addition, its important to position the merchandise in the store fixtures that highlights their attributes and isnt too overly crammed and crowded. If you find that your crowded store displays make it hard to see individual items, you should invest in a few more.
3) Connect with Customers. If all else fails, good customer service will keep people coming back and buying things. Think about it: you would rather give money to someone you liked, versus someone you didnt like or didnt know. So you and your staff should make a conscious effort to connect with every potential customer and make them feel special. This also includes the staff being knowledgeable about the merchandise theyre selling. They should be able to confidently and intelligently answer any questions a customer has about products. This makes all the difference to the potential buyer because the product is presented in a through, attractive, and fact-filled manner.
4) Manage your money well. Although it seems like an obvious statement, you should always be cognizant of where your money is going and always looking for ways to save without drastically reducing the essentials. Create a budget; know where every penny is going, and keep a keen eye on inventory.
All in all, if you have the business sense, the passion, the store fixtures, and a solid sales team that understands your goals and their responsibilities, you have the foundation for a successful retail business.
by: Mark Etinger
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