What Are the Characteristics of a Successful Retail Store?
Author: TheMarket4You
Retail stores continue to open their doors both virtually and around our cities, offering products from a wide variety of industries. And although not every establishment can weather the challenges of retail, all successful retail stores share certain characteristics. These distinctive features help them to stand above the competition and capture loyal customers who will help to grow the business now and in the future.
Passion for Their Products
Thriving retailers believe in their products and convey that passion to their clientele. Think about retailers such as Trader Joe's or various specialty fashion retailers—everything from store set up to the welcome customers receive from an employee communicates a love for their offerings. When consumers feel, see and hear your passion and knowledge, confidence grows and action results.
Passionate retailers also keep up on the latest industry events and take pride in the brands that line the store walls or crowd the virtual storefront. This provides a leg up over other retailers and helps to overcome challenges presented by big box and department stores.
Focus on Genuine Service
More staff does not necessarily equal true service in the retail industry. Successful retailers find out ways to serve the unique needs of their customers and invest the time and money to ensure satisfaction. It's certainly not a perfect science, but genuine service needs to be top priority for retailers.
Retailers should focus on several facets of customer service, including merchandising, store staffing, shipping, return policies and feedback. Companies that connect with potential clients and understand their needs have the most success, but only those who continue to deliver genuine service will grow and thrive.
Ability to Harness Technology
As the retail industry moves online and virtual stores surpass physical locations, the role of technology becomes even more important. A successful retailer stays on top of technological advances and implements systems before they fall behind.
Does your company have a mobile site? Now that a majority of web users are browsing from their smartphones and tablets, retailers need to ensure their websites operate seamlessly on mobile technology. Thriving retailers assign key staff members to keep their company up to date and utilizing all that the tech world has to offer, from security and payment methods to marketing and administration.
A successful retailer needs to juggle several responsibilities in an ever-changing world. But with a passion for their product and by focusing on customer service, retailers can harness technology and expand their businesses.
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TheMarket4You is a virtual marketplace directly linking vendors, boutiques, and various small business retailers. At the click of a button, retail members will gain access to a wide array of vendors at original wholesale prices, along with the our Social Network Marketing option, an innovative solution to Social Media, email, and website marketing, coupled with industry best-practices training. By signing up, vendors instantly and cost efficiently expose their brands to new markets.
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