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Are Retail Stores Still A Viable Business Option?

Are Retail Stores Still A Viable Business Option?

Despite the changes in the commerce industry over the past couple of years, you might be forgiven for thinking that opening a retail unit is a thing of the past. Despite the uptick in online sales, there is still a huge section of consumers who prefer to do business in person, which includes doing their shopping. We will always need stores, regardless of the sector you are trading in. Nothing can beat perusing the shelves to find the right item you need or checking out what is on offer, especially not via shopping on a screen.

Photo by Artem Beliaikin from Pexels

But in this day and age, what do retail businesses need to know about opening a shop?

Looks matter!

That all-important first impression still stands, and if your storefront looks a little old, dated, shabby, then customers will walk on by. There is a difference between shabby chic and rundown, and you want to go for the former rather than the latter. Think about how your store looks to passers-by and the vibe it gives out. You want a modern contemporary feeling incorporating the best designs, and features such as Rainscreen Panels make sure your store stands out and gives out the right impression. This goes for your sign too.

Location is Key

This cannot be stressed enough, but you need to evaluate the type of consumer you are targeting and then consider if the location is right. For example, if you set up a bakery or cake shop, a buddy high street or shopping center can be key. But if you are targeting Gen Z with new toys and tech to help them grow their online following, you need to be located in an area that caters to this age group and has other stores and amenities to attract them. A mom and pop 7/11, however, can be well served in the hub of the community.

Marketing and Websites

Consider your ideal customer, what are the current trends for shopping. Most age groups these days are proficient in buying online, and as such, you would be doing your store a disservice by not having a website. Even if it isn’t an e-commerce site. Allow potential customers to pursue your wares online when you are shut, and if you do not fancy selling online, then they can head to the store to buy from you when you are open,

Add to this consistent branding and marketing efforts across social media, and you really will be mixing the best of both worlds here. Being active across social media accounts is vital to any marketing efforts and a great way to interact in real-time with customers and potential customers.

Sharing your goods, your day, behind the scenes is especially important if you make what you sell on the premises, encouraging customer reviews and testimonials. Even if you don’t sell online, this is a great way to build your brand and reputation for pretty much little, no outlay.

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