Three Steps to Becoming a Better Retailer
Well all want to be better at we do! Becoming a better retailer can be about finding the time to help you help yourself.
Three steps to a becoming a better retailer:
- Educate your staff and yourself
The retail business is a constantly changing environment. What the average consumer expected 10 years ago is very different from today. Which age group that has the most disposable income has also changed. If you are running your store like you did 10 years ago, what are you missing? How much have you learned about the changes in retail recently? How often is your staff trained professionally, either in customer service or product knowledge? What about emerging technologies, which ones should you look at?
- Put feedback mechanisms in place
Beyond the balance in your bank account, do you have any feedback mechanisms in place? As a retail manager or business owner, you need to ask yourself how do you measure the growth and success of your business? What departments are making you money, and what departments do you need to scale back on? Which staff member deserves a raise? When is the store the busiest, and when do the highest paying customers come in? What is your conversion rate (foot traffic to sales)?
- Work ON your business, not just in your business
It can become so busy as a retailer, especially in an owner/operator role. The problem with this is that you can get so consumed by operating the day to day retail business that your store cannot chart a course. You are reactive to the market, the customer, staff and other factors rather than proactive. What are your plans for the next 2 years? How will you get to that goal? What steps are required, and do you have the skill set to reach the goal?
If you have any questions about improving your retail business contact us or give us a call at 1-800-725-6810. We’d love to help and it’s what we do best.
Shawn Dillon is the Chief Technical Officer at CRS. He has been involved in hundreds of retail installations and has worked in the IT industry for over 20 years, with independent companies as well as government agencies.