Especially when you're the head of every department from store design to customer service and loss prevention, it quickly becomes clear running a retail store is a challenging business that isn't getting any simpler.
Successful retailers don't let chaos overwhelm them. In fact, winning retailers are masters of managing change and very creative problem-solvers. Sometimes the best path to a solution starts when you focus on a challenge.
After you've pulled together all the elements of a satisfying shopping experience, how do you motivate shoppers to buy?
Friendly service is expected. Consumers are also reacting to tangible and intangible factors that add up to the total relationship they have with your brand. How can your small retail store be famous for the shopping experience you deliver?
Shoppers think less about the price of a product, and more about the value added by your store, when the people who work for you are trained and equipped to add genuine value to most every purchase.
When you know your shoppers well enough to dazzle them with an offer, sooth them with a service or impress them with an event, you're well on your way to building a group of customers who's loyalty can help you sustain profitable growth.
A quick look at a retail income statement tells us there's a big difference between top line sales and bottom line profit. The question you must answer is: how can an independent retailer exert control over the gap between the two?
One store can't compete
on price? Then don't. Help high-spending customers buy more from your store by making it easier for them to do business with you.