Driving your retail business forward in a high competition market

Driving your retail business forward in a high competition market

Retail is one of the most competitive industries to be in at the moment. Whether you are High Street or digital, everybody is looking for a way to not only survive but also thrive. The fundamentals will always remain the same but there will always be a number of ways that you can set yourself apart.

Retail itself is a $28 trillion industry and below will be a few proven ideas to help you drive forward and take a bigger piece of that pie. 

Use your advertising campaign to wow

Nowadays, advertising is everything. What most businesses don’t grasp is advertising does not need to be boring. Using social media and any other medium you wish to create a high impact, a somewhat provocative marketing campaign will make you memorable.

Taking into account the human brain when developing your advertising campaign can be one of the most important tools you can use. Even if we attempt to learn only a small amount of how the human brain receives information, you can still use it to your advantage. The human brain processes some information and stores it differently to other information. So a little market research on your potential audience will also be useful.

Networking 

Networking events are so important for retailers of all kinds. Simple networking evenings in a close quarter environment and you are just shaking hands and handing out business cards are a great place to start. Eventually, you will want to be taking a stand at conventions and making a name for yourself, in situations like this, you could turn to people like the guys at focalexhibitions.co.uk for some inspiration. In situations like this, you are a peacock and the stand is your plumage. Having something incredibly eye-catching will, of course, see people automatically gravitate in your direction.

Customer service

Customer service is something that everybody offers, but how many people actually provide it? For some companies, it is more of a formality, for others, it’s a widely missed target. What you want to offer is an amazing customer service. The be-all and end-all of this is simple, your customer service is great when your unhappy customers are happy. You have to make your company standards and stick with them.  

Sell the best items

One thing that should go without saying is to sell the best items. Pushing cheap rubbish only gets you bad reviews, a bad reputation and a speedy depletion in your customers. Whilst better items cost more, consumers will actually spend more on a more reputable product. This adds so much in the way of value to you as a retail business. A great portion of online retail businesses are now distributing only cheap replicas and ill-suited products, whilst companies selling reputable products are thriving.

Just by taking these few things into account and possibly actioning one or two of them, you could be making a bigger impact in no time at all. 

Mattress retailers head for period of consolidation, GlobalData

Mattress retailers head for period of consolidation, GlobalData

Amazon UK exec calls for High Street/online co-operation

Amazon UK exec calls for High Street/online co-operation