Rules for Retailers to Get Back in the Game
With the facilities provided by the online market, retail stores are suffering a huge loss. When you can get the perfect shoes, bags, jewelries even from the comfort of your bedroom why waste your Sundays in malls rather spending it leisurely.
Not only do they face competition from the growing ecommerce industry but also from other retail stores. This type of fierce battle might reduce your chances of survival to zero. In such kind of situations, what people generally look for is just one ray of hope, one advice or a strategy that might turn their business around towards their profit.
Well retailers here are some quick tips collected together just for you from some of the best experts around the world to help your business get through these thin times.
Lure customers to your store
Everyone likes something extra or a something at a special price. What adds up to the thrill is a limited period during which it is available. The proven example of this your competitor online. Online giants like “Myntra” or “Flipkart” always provide some of their stocks at sale rate. It not only helps them to clear out the old ones and make room for the fresh ones but also earns them little profit if not a huge one. Utilize this strategy for your retail store. Create some event in such a way that customers are driven to your store. If they come they’all not only buy what they need but also might end up buying extra. Also you can also create coupons for your store, partner it with online sites like “Groupon” or “Couponduniya”. This will ensure customers coming to your store to encash it.
Restoring sales is not a full stop
Once your sales’ consistency is up, do not sit back and relax. Learn what’s not selling in your store. Research on it. Take customer’s survey if needed. Get to the bottom of why is not selling and strategize accordingly or replace it with some new one. This is just an example when it comes to products. Similarly audit your selling techniques, your employees, read the wants of customers you do not have currently and you want to gain. If you research things in detail you might progress in a very short time.
Land of festivals? Take advantage of it
All of us know India for its festivities. One month Dusshera, other month Diwali and on and on. The good point is people love to give their loved ones a gift. However due to busy life, everything falls unto the last moment. Take advantage of it. Sell gift hampers or packages by putting together three to four of your best products decently and in a cute package that attracts even the lazy eyes. Who know the hampers might sell like fire leaving the individuals behind. Soar up your sails while the tide is high.
Attract customers with your store events
People love to chill out in weekend with some music n dance. Make your store the organizer of it. Give them some entertaining and use the entertainment in a right way to promote you store. If everything goes well you might end up having friends or relatives of your customers as your customers too. It’s all about the right event for the right audience at the right place and time.
Happy selling !
Please let us know if you have any queries and suggestions in below comments.