Small Things that can Make a BIG Impact on Retail Sales

iphone-1451614_960_720Do you own or manage a retail store? If so, you should pay close attention to the following elements, because they can have a significant impact on your sales.

Lighting

Even lighting can affect retail sales. According to some studies, bright lighting in retail stores triggers emotions of honesty and positivity, while also encouraging impulse buying. Consequently, dim lighting has the opposite effect, throwing shoppers off balance while discouraging them from buying the store’s products. This is why it’s important for retailers to use ample lighting throughout their store, using a combination of lamps, overhead fixtures and other lighting solutions.

Sound

Don’t underestimate the importance of sound in a retail store. Slow-tempo music triggers relaxation in shoppers, which slows down their rate of shopping and ultimately encourages them to spend more. Furthermore, this leads to greater contact with merchandise, increasing product visibility and sales. Something else to consider when choosing music for your store, however, is its popularity with your target demographic. Ideally, you want to play music that’s popular with your audience; otherwise, it could backfire and actually hurt your efforts to generate sales. As explained by Wikipedia, a retail store that sells apparel for teens should play pop music, as this is the most relevant music for this demographic.

Colors

Of course, colors also affect retail environments and their respective sales. Red triggers passion and intensity, whereas blue has a calming effect. White is a neutral color that falls somewhere in the middle. Use color to invoke energy in your shoppers, getting them moving around and browsing your store’s products. Don’t focus your store around any single color, however. Instead, use a combination of colors to encourage more sales.

Scents

You might be surprised to learn that scents can affect sales in a retail store. Lavender, for instance, has been shown to ease stress and reduce anxiety, whereas vanilla has a comforting and calming effect Incorporating some of these scents into your store’s environment may have a positive impact on sales. The only way you’ll know, though, is by trying it for yourself. So the next time you decide to make over your store, try adding scents and aromas to the environment.

If you have any questions at all about visual merchandising, please give us a call at 800.241.6897 or email us at https://melvinroos.com/contact-us/.

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Retail Strategies for Emerging Markets

smartphone-695164_960_7202There are both pros and cons to opening a retail store in an “emerging” market. You’ll have less competition, which usually translates into easier sales. But on the flipside, there are typically fewer customers. It’s a double-edged sword so to speak that can either help or hurt your efforts to create, and maintain, a successful retail business. But there are ways to shift the odds in your favor, so check out the following retail strategies if you’re planning to open a new store in an emerging market.

Choose the Right Location

Location can make or break a retail store, but choosing the right location is even more important when it involves an emerging market. You should choose a location that’s in, or close to, the main commercial part of town. Doing so increases your store’s visibility while attracting more shoppers in the process. If you open your store in some obscure part of town that’s off the beaten path, you’ll face an uphill battle trying to build your brand and generate sales.

Create a Strong Brand

Another effective tactic for successfully cementing your retail business in an emerging market is to create a strong brand. If your target audience remembers who you are and what you do (or what you sell), they’ll feel more inclined to choose your retail store the next time they need one of your products. So, invest the necessary time and resources into building your brand. Using a combination of both local and online techniques, promote your brand and its respective elements to your target audience.

Expand Your Operations

Of course, you can always open a new retail store to further strengthen your position in an emerging market. But opening a new store isn’t a decision that retailers should take lightly. It requires double the work, and double the capital.

Price Competitively

Even if there are few to no competing retail stores in your area, you should still price your products competitively. The fact is that many consumers now shop for products online. So before buying a product in a retail store, they’ll check online to see if it’s offered elsewhere at a lower price. Failure to offer a competitive price could result in these consumers choosing one of your competitors instead.

If you have any questions at all about visual merchandising, please give us a call at 800.241.6897 or email us at https://melvinroos.com/contact-us/.

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5 Elements of a Successful Retail Marketing Campaign

house-309156_960_720Studies show that more than half of all small businesses fail within their first five years. Statistics such as this can be daunting for aspiring store owners and entrepreneurs, as it reveals the highly competitive nature of small businesses today. But there are ways to ensure your store remains open for business long after the five-year mark, including a proper marketing strategy.

Inbound Marketing

Don’t focus your marketing efforts strictly on outbound techniques. Sure, some outbound techniques can drive sales, but there’s been a growing trend towards the use of inbound marketing techniques in recent years. Inbound marketing involves creating content and advertisements that indirectly promote a business’s products or services. Instead of directly promoting your store’s products, for instance, you can create content that’s relevant to your target audience, encouraging them to seek out your store on their own.

Create an Online Presence

I know what you’re probably thinking: why do I need an online presence if I sell products in a retail brick-and-mortar store? Even if you have no intentions of selling your products online, having an online presence will benefit your store in several different ways. For starters, it helps produce greater brand recognition so your audience knows who you are and what you do. Furthermore, it allows prospective customers to find your business more easily. When a prospective shopper wants to find your store’s address, he or she may search online. And without an online presence, you could end up losing this customer to one of your competitors.

Track Your Results

Another helpful marketing tip for retailers is to track your results. In other words, use metrics/analytics to determine which advertising platforms are generating sales and which ones aren’t. Using this information, you can tweak and optimize your campaigns for a higher return on investment (ROI).

Offer Competitive Pricing

You can’t expect shoppers to buy your products if a competitor offers the same or similar product for less. The advent of smartphones and mobile technology has made it easier than ever for shoppers to research product prices. Before making a purchase, many shoppers will check to see if another store sells the product at a lower price on their smartphone. To prevent those shoppers from leaving your store, offer competitive pricing and/or a price-match guarantee.

If you have any questions at all about visual merchandising, please give us a call at 800.241.6897 or email us at https://melvinroos.com/contact-us/.

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