With new competition from online sellers and continued competition from other retailers, maintaining a successful brick and mortar retail store is no easy task. Luckily, there are things that you can do to get a leg up on the competition.
Here’s 5 tips for survival in tough markets:
- Keep track of your customers with video analytics and proper reporting software
Knowing how many customers come through your doors throughout the day is an excellent way to measure how well your business is doing and improve the efficiency of your business. With a video analytic technology like, Pcount, you will be able to find out useful information like how many customers come through your doors and when your store gets the most foot traffic. This will allow you to make more informed staffing decisions, keep track of how well you’re doing at attracting store visitors over time, and set reasonable goals for sales.
- Run sales when everyone else is charging full price
Most stores run their best sales around holidays and at the end of seasons.That is probably what your competition will be doing. To draw more people to your sales, consider running them during off times.Customers will have a harder time finding a good deal at other stores during those times of year, so your sale will be even more appealing.
- Let customers choose the merchandise
It can be hard to predict what merchandise will sell and what won’t. You are bound to bet on some flops. But there is a way you can guarantee at least some of your customers will be interested in the items you sell. Choose a few potential items as potential merchandise and display them in your store for a month before you order your inventory. Let your customers vote on which item they would most like to see your store carry.
- Start a rewards program for frequent buyers
Most chain stores already offer rewards to their frequent customers. If you’re an independent retailer, offering a program of your own is a way you can compete. You might even want to leverage your local identity by partnering with other local businesses to offer special deals for your best customers.
- Hire a greeter
Greeters can bring your customer service to the next level. They make sure customers feel welcome from the moment they enter your store. This is especially helpful when your store is at its busiest, since it is often hard to give each customer the attention you want. The greeter can help your customers feel like they are being cared for, even if the sales staff can’t get to them right away.
Want to keep better track of how many customers come through your doors each day? Please contact us!
