Retail Stores: It's Kill Or Be Killed
You have seen the headlines, read the news articles, and quaked in fear if you are a bricks-and-mortar retail store owner, but despite what you may have heard, physical retail isn’t dead in the water. Not yet, anyway. Consumers still like to shop on the high street, with the hands-on approach to products that the online giants still struggle to replicate. People enjoy spending time together, and a trip to the shopping centre is a social experience for many, and hopefully will be for a long time to come.
While many stores have closed down (rest in peace Toys ‘R’ Us), there are still those retail stores that are facing an upswing in profits. Some of them are included here, https://www.insider-trends.com/15-of-the-uks-fastest-growing-retailers/. They are combatting the shift in consumer behaviour and are doing their best to survive in the changing environment of retail. So, despite their best efforts, Amazon hasn’t quite won the shopping war just yet, but there is still cause for concern. There are those big-name stores that have closed down, and while the news isn’t bad for some just yet, there is a need to change the way of thinking if they hope to stay open for the long-haul.
If you’re the owner of a physical retail store, it’s time to consider your position. To stay open against the thriving online competition, there are changes you may need to make. You can pick up some helpful suggestions in the linked article above, as well as taking notice of the following.
You need to…
Increase your visibility, on the high street, focussing on visual merchandising to attract customers into your store. You can do this yourself, or you can hire specialist services such as this one https://www.design4retail.co.uk/discipline/visual-merchandising/, to help you improve your efforts.
Embrace the digital world, rather than fear it. This can include opening an online store to compliment your physical retail outlet, marketing yourself on social media, and writing a blog to engage your customers. The retail world may be changing, but you don’t need to stick to traditional methods all of the time. Our advice here, https://www.coppermilkcreative.com/ can help you promote your business online in today’s digital world.
Do more in store to attract customers. This includes providing free wifi, offering refreshments, having promotional days, and gearing yourself around special events, such as specific anniversaries. You may need to think outside of the box a little, so take a look at the retail initiatives here, https://www.insider-trends.com/50-best-retail-initiatives-2017/ for some creative ways to enhance your business.
Offer a better service to your customers. This can include the use of Apple and Android Pay as in-store payment methods, to stay in line with modern consumer trends. You can ensure customer loyalty with reward programs, perhaps through a mobile app. And do what online sellers can’t, and offer better face-to-face interaction with fully trained staff to make the customer visit a happy and rewarding experience.
By following these simple tips, you will find yourself in a better position in the consumer market. While you may be reluctant to change, remember the demise of those other stores around you. Physical retail isn’t dead, but it will be if it doesn’t move with the times.