Sometimes we just need a reminder, tip or suggestion to recalibrate our business. These are 7 Tips to help Retailers recalibrate:
1. Adopt a service culture / focus in your store – Make it easy to deal with you – including:
- Staff attitude, language and behavior
- Product selection
- Service process
- Delivery on & offline
2. Become the Expert in your category, look outside your four walls:
- What does your customer see?
- What are other stores in your category doing?
- What is the latest product in your category?
- What is next?
- What is going on internationally
3. Create ‘Theatre’ & a fun experience in-store:
- Give the customer to get in their car, find parking, come into your store
4. Stop focusing on PRICE and SALE, it’s all about VALUE!
- Using Sales to drive income is lazy retailing
- It’s also not profitable
5. Review ALL pricing across your whole business – Australian retailers are now competing with the world and now must adopt a VOLUME vs MARGIN pricing model.
6. Constantly source new products (or suppliers if they are not innovating their products) and Rationalise your supplier base, remove duplications; this will save time and money.
7. Build Collaborative Relationships with suppliers, retailers and local neighbours:
- Become savvy connectors with mutually beneficial outcomes