As retailers and suppliers to the retail market our job is to continue to give consumers a reason to keep buying. The focus has to be on taking away any of the barriers that might stop someone spending money with you.
When you’ve completed your ‘retailer healthcheck’, you should have freed up a pot of cash to reinvest in your business.
Now it’s time to really look hard at your business from a customers’ point of view - stand back, be objective and evaluate how your shops/online business looks and how you are doing things so you can identify ways to improve. Remember, doing business with you should be straight forward and enjoyable!
· Product – a great selection of products well displayed in your windows, instore and easy to find online too
· Price – make sure you are well priced against your competitors offering good value particularly with the price increases you will be facing, it doesn’t have to be cheap,
· Service – this will be a significant differentiator with high street retailers and should be a reason to come into your shop rather than shop online, make sure everyone feels welcome when they come in to your shop, phone or visit you on line
· Experience – everything about visiting your store or website is simple, easy and welcoming
Identify areas of improvement and plan how you can deal with them in the next 3 months.
Aim to complete all your actions by July so your business is in good shape as you start to prepare for Christmas and you can optimise the changes in your Christmas plans for stock, displays, your website etc.
And then – for the rest of the year – keep listening to your customers, watch what is going on in the economy and the retail market and be ready to react.