Insights, Ideas, Results
Unless your name is Jeff Bezos, most retailers both know and dread the fact that smaller ventures are finding it increasingly difficult to make profits nowadays. This doesn’t just apply to online or offline retailing, but the small-scale retail business in general. So, can your own retail business be made more profitable even in the shadow of giants?
It wasn’t that long ago that business experts were proclaiming the death of the brick and mortar store. The rise of ecommerce has taken many industries by surprise, and many are still struggling to make the transition to online trading. However, the fact is that physical outlets remain popular among consumers, and businesses that started life as ecommerce brands are instead making the move to brick and mortar. That’s because they allow you to communicate a brand more effectively and take greater control over the consumer experience. If your ecommerce venture is a success, then moving into the high street can be a valuable next-level move, but it comes with some inherent risks.
Ready to open a brick and mortar store? Those who want to start their own business have a lot to consider before opening day. When it’s time to start designing how the store looks and getting ready for the first customers to arrive, there are a few things you won’t want to forget. Make sure you have these five things before opening day.
If you’ve launched a business, chances are you’ll need a retail location. In today’s ecommerce world, brick and mortar stores help keep neighborhoods alive. According to the National Retail Federation (NRF), retail in America supports 1 in 4 jobs, and 98% of retail locations are comprised of small businesses. Whether you’re in the restaurant industry or are simply moving from your garage to a more official location, opening a retail location is a big step, and it’s a decision that needs to be made carefully. Opening a retail location is no easy task. Here’s what you need to know.
Starting any new business from scratch is a project that requires untold hours of work and dedication. Yet, founding a thriving business in the retail industry is especially difficult. One of the reasons why this is the case is because retail business owners have a wide range of factors they need to account for at all times. If you’re considering opening up a retail operation of your own, then make sure you think long and hard about these five elements of retail success:
Opening up a retail shop is always going to carry with it a certain amount of risk. Even with the absolute best products on the market, there is a lot that goes into determining a business’s success. What this means is that you need to do your best to ensure that you are covering all the basics and doing what you can to attract and build a loyal customer base.
One area that should get a fair amount of focus and planning is how you plan to set up the actual store. The way in which you display your merchandise, the store layout, and flow, and even the lighting can have a huge impact on how many customers you attract and convert into sales. Here we’ll break things down in detail and look at ways you can go about attracting customers into your new retail storefront.
Recreational cannabis has been legal in Washington for a while, and unsurprisingly, business is booming. Pot shops have cropped up on every corner of “the Evergreen State” particularly in and around the Seattle area, and both locals and tourists are finding it much easier to get a hold of good quality bud today than they did yesterday.
Retail business is in many ways very similar to any other kind of business. You are looking to draw in as many people as possible, keep them there by delivering a top-notch service, and hopefully encourage them to tell their friends and families, in the hope that they will do the same. In many ways, retail has it even easier than some other kinds of business. After all, you are looking at a physical shop, and it is often much easier to get people to walk into your shop than to get them to come to another kind of business. Of course, it is not all rose-tinted – retail also has its own set of unique challenges. In this article, we are going to focus solely on the shopping experience itself. It goes without saying that we want this to be as good as possible for our customers – but how do we actually go about achieving that? Let’s take a look at some of the things we need to do to make the shopping experience more memorable and enjoyable for our customers.
Most small businesses want to avoid falling into the “me-too” category. They want to do something different and be unique. And that’s understandable. But too many businesses take this sort of thinking so far. They reject things that the market has been doing for years because they work. And instead, they prefer to go their own way. The result is that they end up missing out on sales and profits.
Merchandising is one of those areas where you really don’t want to reinvent the wheel. Doing what the pros do is the best way to succeed and attract shoppers to your small business. And there are certain things that they swear by. Let’s take a look.
The goal of any small business (or any business, really) is to steadily increase your sales. One of the main problems with small businesses is the limited amount of funds. This can dampen some of your efforts to try and increase your sales. The old adage does say after all, that you have to spend money to make money.
Thankfully, this is not always true. There are ways that you can elevate your sales by spending little to no money. If you are looking for innovative ideas that really work, you should get advice from companies like Global Resources to improve your chances. Here is what you can do to make more money:
