If you are a retailer or just about to start a new venture, let me share with you how yo grow your retail business FAST.
I’ve helped thousands of Business Owners Grow their business, so I know a thing or two about building a solid business.
(Watch this video to see how to grow your retail business fast)
Is physical retail-shopping dead?
I get asked by retailers “is retail dead?”, it’s really hard because the internet’s taken over.
As you can see from here, I don’t agree that retail is dead. There are a lot of approaches and strategies retailers can implement to strategically market their goods and services.
What I do agree with is that the people who are doing retail today need to change their business strategy.
People need to give people experiences.
That’s one thing that happens very well, here at Chelsea Market in New York. There are loads of people giving out samples, they’ve got demonstrations, and there’s a real experience and a vibe, it’s fun to be here.
Another example is Apple, while you might not be able to spend millions on building a store. Look at what Apple do and think what could you use in your retail store.
Gone are the days or people coming in to buy boxes off your shelves. They come into a retail store for your knowledge and know how. Maybe you have products that are only sold offline.
How To Increase Sales In Retail
If you’re a retailer, it’s inevitable that your sales will slump at some point.
Its not uncommon for retailers to have lots of highs and lows when it comes to sales.
I will be honest MOST retail is very boring which means that people will just end up buying on Amazon, and other places as a result.
You need to sell stuff that people can’t buy online because those products are commoditised.
Nowadays, people will just shop on Amazon because they’re just looking for the cheapest price. When I sold million of accessories online some of the brands I sold had ranges only sold to retailers offline.
Solution: If you want to succeed in retail, you need to change your strategy.
Find unique products that people can’t get anywhere else.
Because if they can, your customers are going to compare your products to those on Amazon & eBay along with another other online retailers.
Ultimately if you sell the same products that everyone sells online, you’re going to lose.
Retail Business Strategy
Retail marketing has changed the tactics that retailers use to attract customers and drive sales have changed forever.
As a retailer you need to create a marketing strategy that works in todays marketplace, craft content to attract clients, and offer unique products.
Think about the experience you can offer.
Can you get people in for open evenings to your store?
Can you give demonstrations?
Whatever it is that you do to just make it stand out and be different from the online world.
Make sure that you use a wiser approach for your business and ideal customers. Always combine your marketing strategy with great customer service. There is no reason that retail can’t work.
Retail requires a hybrid model, offline and online
A few years back I travelled Route 66 with my partner Katy. On the trip we used a lot of websites to find thing we should see along the trip. One retail store that got our attention was this fudge factory.
This retail store is in the middle of nowhere without a lot of passing traffic but it was PACKED. We visited on a random Tuesday it should have been dead, yet it was one of the busiest places I saw on the whole of Route 66.
(Check out this video outside the retail store on Route 66)
So think about that. Is it retail doomed? Can it survive?
Are retailers just lazy and blaming the internet when they could be changing? Let me know in the comments below.
If you own a retail store, one exercise I highly recommend is creating your customer avatar. Check out my new blog post on the steps to creating the perfect customer avatar.