5 Ways to Make Your Retail Business Stand Out, and Beat Competition
06/03/2019
Retail stores generally provide access to everyday items, and are an essential part of communal life all over the world. The high demand for retail services has naturally made the industry lucrative and more attractive to investments. Consequently, you are guaranteed to find a retail store on every block or small neighborhoods across the globe.
That multinational franchises like Amazon and Alibaba have their fangs out, ready to eat the smaller retailers’ lunches, which only exacerbates the problems facing most store owners. Fortunately, there are simple and proven ways to make your retail business stand out in the midst of all the competition. Here are a couple:
1. Have a Clear Identity
Very few retailers sell their own brands of products, and even those who do, tend to incorporate other items from various manufacturers. There’s also the fact that the majority of retail stores sell homogeneous products, with (mostly) similar price ranges. Hence, it is essential for a store to differentiate itself from others that sell identical products if it wants to succeed.
Having a clear brand identity is essential to attracting and retaining customers in the retail market. A retail brand should typically have a business logo, catchy name and tagline, and primary colors. All of these should then be incorporated into all aspects of the business, from the store exterior, to interior decor such as point of sale display stands to cash receipts and even the staff uniforms. The key is to have customers, and the general public, to relate to the store just from seeing its colors and name.
2. Work on Boosting Convenience
Today, shoppers are spoilt for choice when it comes to retail stores. With prices being largely uniform, customers are considering other factors before deciding to enter, or occasionally patronize a given store. These factors include customer service quality, convenience, store appearance, and product range.
Convenience is one thing that captures both the hearts and minds of retail shoppers. It includes simple things like making the shelves shorter to increase the accessibility of items, even for kids and shorter people and using brighter lights. It’s also great to have labels for each brand of products in the store, detailing the prices and quantities.
3. Incorporate Alternative Payment Methods
The world is gradually heading to a cashless economy, with the proliferation of online payment methods such as PayPal, CashApp, and digital credit/debit cards like Visa. Cryptocurrencies, particularly Bitcoin, are also getting increased traction as unofficial legal tender.
To succeed in today’s retail environment, you need to invest in card readers and e-wallets to enable customers to make payments without necessarily having to carry cash. Have posters or boards to this effect, and you will definitely pull in some customers, especially the younger generation. Cashless payments could also improve your sales as people who pay using debit cards, or e-wallets are susceptible to impulse buying.
4. Embrace the Digital Scope
Almost everyone has a smartphone, and regularly browses the Internet, these days. This is especially true for the younger generation, who are the dominant demographic in most countries. You can make use of the infinite opportunities that the Internet offers to put your business on the frontline.
For one, setting up dedicated social media pages on Facebook and Twitter will help connect to users who happen to be in your neighborhood. Matter of fact, you can work with Facebook to show your ads to people within a particular area.
Social pages can also serve as customer service platforms. Regularly post pictures of the store, showing various products and staff on your social pages to catch the imagination of viewers.
Above all, have a business website, adorned with your business colors and logo, where people can view your product range, location, and contact information. Regularly update the website to reflect new products or changes in prices. Additionally, make sure to synchronize the online experience with the actual in-store experience so as to maintain your clientele.
In Summary
In retail, standing out is just a matter of playing with your product displays stands, and tweaking a few things as far as customer service goes. Here at POPAI Global, we work with retailers from different countries, and in different niches to improving their competitiveness through innovative and catchy displays.
We manufacture all types of products display stands, including retail Point of Sale display (POS) and Point of Purchase displays (POP). These include floor displays, lit acrylic, and electronic signs, hook displays as well as pallet displays. As we own our production processes, we are able to customize our products to fit all forms of (reasonable) customer budgets and requirements.
We have a strong presence in Australia, with a dedicated supply chain that covers the cities of Perth, Sydney, and Melbourne. Change the performance of your business today!
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