6 Ways to Increase Retail Business Competitiveness

Retail businesses thrive when great location and premises meet with effective sales and lead generation techniques. In this article, we look at the top six ways to boost your retail business competitiveness.

1. Maintain Attractive Premises

Retail spaces that have that extra bit of magic enhance the customer’s buying experience and entice new customers. Maintain attractive, well cleaned premises. Along with great design and updating your displays on a regular basis, services for commercial cleaning in Sydney and elsewhere can help you with keeping premises sparkling clean.

2. Customer Analysis

Find out more about your customers and local demographics to maximise sales. A thorough customer analysis can help you make more targeted marketing strategies. Your product line may lend itself well to certain sectors in your local area.

For example, if you sell medical equipment in an area predominately populated by people in higher age brackets, you may distribute paper flyers and brochures to get the message out about your products. Alternatively, if you sell electronic gadgets and you’re situated near a university, you can find it useful to market yourself locally.

The key to leveraging your location is finding out where your buyers are coming from and using your location to encourage more leads from all groups of existing buyers.

3. Use Effective Signage

Along with window displays, effective signage is vital for capturing local pedestrian traffic. Use signage to make your presence known, to communicate specials, and to highlight particular items. Some ideas for signage include:

  • Pavement and outdoor advertising, such as A-frames outside your retail space.
  • Building and awning signs.
  • Banners.
  • Teardrop signs.
  • Backlit, electronic, or neon signs.
  • Eye-catching window graphics.

Along with signage, well maintained retail spaces can attract more people to your store. Services specialising in retail and office cleaning in Sydney and elsewhere can assist you with keeping your retail space attractive and enticing.

4. Staff Commitment to Customer Service

Commitment to customer service is demonstrated in everything from your returns policy to your staff. Great customer service from staff can mean different things in different industries.

For example, a good degree of technical knowledge is vital if you provide electronic goods and IT equipment. If you’re in the retail clothing industry, your staff may require a different set of skills. Training can be provided to staff to equip them with the necessary skills and technical knowledge to provide great service.

5. Develop a VIP List

Developing a VIP list helps you keep track of your existing client base. What are their buying patterns? How do they respond to specials or new product lines? A discount card or point accumulation system can encourage VIP clients to purchase more often. It can also allow your business to track buying preferences in order to provide better service and retain existing customers.

6. Generate Leads with Specials

Everyone loves a special, and often it’s an easy and effective way to generate new leads and grow your existing client base. Publicising your special – whether it’s a sale night or a discounted product line – is the key to maximising the impact of your special deal.

  • Give buyers plenty of notice and run the special for a suitable period of time that allows buyers sufficient time to take advantage of it.
  • Advertise your event or special on social media as well as through traditional marketing channels.
  • Using features such as coupon codes can help you retain information about purchases.

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