Retail can be a notoriously difficult game to play in 2017. There are so many different ways to sell your product and so many competitors all vying for the same customers, getting anywhere can often take a while. People these days have less disposable income than ever before, so they are more fussy about where they spend their money. For retailers, this means that you may need to market more fervently to your customers to clinch that all important sale. Even once you have got the customer’s attention, you need to keep them engaged with your brand and product the whole way through to them making a payment, and this means using a whole load of different sales techniques. If you’re looking to increase takings in your retail business, here are a few tricks of the trade you need to know.
Know your stock and takings…
… like the back of your hand. It is quite astonishing how much money can go missing in a retail business just due to a lack of care when it comes to taking stock. You, or whoever you appoint as the store manager, will need to take regular stock checks at the end of every working day and cash off any sales against the till system. Although it can be tempting to just do a rough check to save time, don’t estimate, as this is when mistakes happen! Use whatever method works best for you – for some people that will mean the good old combination of paper and pen, and for others, it will mean doing an electronic stock take. But feel free to go with whatever works best for you personally.
Have an easy payment system
No customer wants to spend ages filling up their bag with things they want to buy, only to get to the till point and be told that your store does not accept their chosen method of payment. To make your business easily accessible to everyone, why not open a merchant services account? Opening such an account means that you have all your merchant needs safely stored in one place with one company, so if anything goes wrong it’s relatively easy to solve. Accept as many cards as you can and make sure any in-store staff you have been trained in cash handling, so you don’t end up short-changing or under-charging anyone.
Even though there is still a place for retail stores in our society, you would have to be a fool to not utilise the internet as well for trading purposes. Hire a web developer to put together an e-commerce website for you so that you can sell your wares online as well as directly in-store. Just be aware that you will need to put a certain level of work into running your site as well as your store – so you may need to hire some extra staff to take care of the digital side of things.