Avoid these mistakes to achieve retail successAvoid these mistakes for retail success
Faults are bound to happen in different facets of the retail operation, such as sales, experience, ecommerce and inventory management.
While many occur on accident, most, if not all, are preventable, regardless of whether they're occurring in the digital or physical arenas. Ultimately, too many mistakes can have a profoundly detrimental impact on customer perceptions.
Specialty retail companies are known for providing people with world-class experiences that are unique to their brands, and fixing the following grievances will allow them to uphold this reputation.
1. Leaving customers to browse alone
Bob Phibbs, a reputed author and retail expert, maintained that leaving customers to aimlessly search for items in-store isn't constructive to enhancing their experiences. In his blog, The Retail Doctor, Phibbs discredited the token argument employees usually give to their managers: "I want to be left alone when I shop."
Believe it or not, customers have specific choices and preferences in mind. No one browses just for yucks – people are looking for products that can satisfy specific needs, some simply just don't know exactly what those items are. Bottom line: Assess a person's desires and find the goods that will fulfill those preferences.
2. Choosing the wrong locations
It doesn't make sense for a retailer specializing in cold weather apparel to set up shop in an Alabama city. In a separate article for Retail Customer Experience, Phibbs emphasized that merchants may be sick and tired of hearing about how much of an impact location can have on their sales. However, it's a factor that companies shouldn't take for granted. Otherwise, overhead costs may eat up profits.
"Fortunately, rents are a good clue," wrote Phibbs, alluding to brick-and-mortar expenses. "Yes, you can save 30 percent with a location that's off the main road but you'll probably give that 30 percent back – and more with advertising to try to get them there."
3. Putting unknowledgeable employees on the front line
No matter how capable a floor salesperson is, he or she should learn about the products on sale before being put into action. It can be surprising how challenging some of the questions posed by the average consumer can be. The solution? Test your new workers' knowledge of specific items. In addition, allow them to interact with the materials to get a better idea of what they can be used for.