With many retail stores popping up in your area, you’d want to differentiate your own store from the rest so that it stands out from the competition. Remember, your competitors are also doing all they can to bring more consumers to their business. Therefore, you must also customize your retail store to give customers enough reason to step in and start inquiring about your products, which is the first step to making a purchase. With that in mind, here are six keys to make your retail store stand out:
1. Choose a suitable location
Your business location matters a lot when it comes to attracting more customers. Ideally, you should go for a spot with high foot traffic and easy accessibility. If you’re in the U.K., consider checking out Mayfair London rentals, which boast constant human traffic. (1)
The good thing is that you can always rent out such spaces depending on your budget. For instance, you can rent a given store space for as little as one day or week. Such flexibility eliminates the need for the usual heavy capital investment associated with long-term leasing. Additionally, it’s an excellent approach to assessing the suitability of a given location for your particular products, after which you can stick to the same spot or move elsewhere.
2. Have attractive window displays
Neat displays are simply magical; whether you’re selling antiques, clothes, or household appliances, displaying them effectively will lure customers into making a purchase. While many people shun the idea of walking into stores just to window-shop, they’re very comfortable looking at the goods from the outside. On this account, it’s in your best interest to have an impressive window display. By and by, people passing by your store will become more aware of your products and eventually purchase them.
While at it, consider changing your displays from time to time to break the monotony, and always give people a reason to stop and check what’s new. Besides that, it’s best to display only a few items so your store doesn’t look too cluttered, which some customers find unattractive. Most importantly, consider installing lighting fixtures that properly illuminate your products. When it’s too dark, it’s usually hard for window shoppers to make out what’s on your shelves.
3. Make appealing signage
Effective signage shows potential customers all the relevant information about your brand and the kind of products you’re selling. For the best visual impact, it must be easily visible from a distance, but not so large that it blocks your shop’s entry or covers the products on display. You should also use fonts that are easily readable from a distance. After all, it isn’t a good idea to use complex calligraphy on signage as customers might not be able to properly read what’s written.
On the same note, the signs should be made from high-quality materials for beauty and durability. You can also have bold signs which show urgency and drive customers to your shop. Some impactful wording you can use include: “don’t miss out”, “buy one get one free”, “last chance”, “deal ends today”, and many others.
4. Leverage the psychology of discounts
Most people love seeing discounts and coupons on items whenever they’re shopping. A study shows that 60% of customers are likely to buy certain products whenever there are coupons. Thus, to drive your sales and keep up with the competition, consider having such offers. This will lure in new consumers to your retail stores and keep the existing ones happy. But take care to design your discounts favourably so that you don’t incur any losses on your end while trying to please your clientele. (3)
5. Style it differently from your competitors
Competition is truly a force to reckon with in business, but you should acknowledge it because it’s healthy and makes you be more accountable to your consumers. To ensure your retail store stands out from the crowd, make sure to visit your competitors’ shops and investigate what they’re doing. (4)
Once equipped with this information, see how you can add variations to yours so that it’s not just a repeat of what your competition is doing. If they all have white interiors, think about styling your store in a different bright colour, like pink or yellow. Ultimately, you’ll offer your customers a unique experience not found anywhere else, which is key to driving sales and boosting profits. (4)
6. Have good customer relations
Some people specifically opt for brick-and-mortar retail stores because they want to create meaningful relationships with the attendants. On this account, you should cultivate good rapport with them and win their hearts. Good customer relations may even be a more significant selling point than all the physical attributes discussed above.
You can do this by elevating your communication prowess, having favourable return policies, and personally handing out flyers on new offers, among other effective tactics. In the long run, customers will flock to your retail store because of the excellent experience they have there.
Having a stand-out retail store helps ensure your sales are always high. It boils down to choosing a suitable location for your business, making the store attractive through well-thought-out displays and signs, and building a cordial relationship with customers. If you do all this to perfection, people will have a valid reason to walk into your shop and order your products.
1. “Choosing a Retail Store Location”, Source: https://www.thebalancesmb.com/choosing-a-retail-store-location-2890245
2. “7 Tips to Create Winning Window Displays”, Source: https://www.entrepreneur.com/article/223677
3. “The Pros & Cons Of Using Coupons For Your Business”, Source: https://www.investopedia.com/articles/personal-finance/051815/pros-cons-using-coupons-your-business.asp
4. “10 Tips on How to Research Your Competition”, Source: https://incafrica.com/library/201105-10-tips-on-how-to-research-your-competition