Owning a successful retail business looks different to every retailer. But the bottom line will always be to increase revenue and have satisfied customers. And dealing with competitors in the same industry adds more pressure. Knowing how to navigate through the industry means knowing what not to do. Here are some common mistakes to avoid in your retail store.
Choosing the Wrong Team
The staff members of a store are a reflection of the business. Never forget that employees represent the brand, and hiring a team that doesn’t elevate the business could be the reason it fails. Avoid hiring friends and family simply because you know them.
Unless they have prior experience and stellar references, you don’t need them inside your store. During the hiring process, test some of the candidates out. See how they do with live customers or have one of your current staff members pretend to be a customer. This gives you a chance to see their customer service skills and how well they mesh with the atmosphere of the store.
Incorrect Store Design
Being creative inside your retail store doesn’t mean designing it like an unsolved jigsaw puzzle. You never want your customers to be confused as they walk through the store. Make everything flow. Choose the correct store location, and never keep the most popular items hidden.
Don’t make it overwhelming inside or outside the store. Space items out evenly so that areas don’t appear congested, and try to keep the store as organised as possible. Also, be cautious not to place too many signs in your storefront windows, as that can appear cluttered. Customers need to both see inside the store and receive the message you’re displaying.
Neglecting Your Brand
The store’s brand needs to be everywhere, and that means more than putting your logo on the wall. The brand also means the personality of the store and the employees. If your store has a specific motto, make sure to include that in the daily activities.
It’s easy for retailers and business owners to acknowledge the brand as a physical thing, but it goes beyond the visual features. Consider branding a figurative aspect, too. Customers should feel the brand in the atmosphere once they walk through the doors.
An unorganised backroom will reflect on the front of the store. Inventory management is one of the most important factors that retailers need to pay attention to. Neglecting the stock room ruins the efficiency of the store.
Create a strategy to optimise your inventory so that you can always meet customer demands. Survey the store and note the areas that need improvement. Work on setting up the inventory room in shifts so that everyone gets a chance to see how it’s run.
No retail store is perfect. Mistakes will happen eventually. The goal is to avoid the common ones.