When you work in retail, your primary objective as an associate is to make sales and turn a profit for your store. However, retail customers are tricky. While customers are the lifeblood of your store, shopping habits and trends can sometimes be quite unpredictable. But when your store’s employees and associates focus on effective retail sales strategies, the limits for turning a profit are endless.
Popular Retail Sales Strategies for Stores Looking to Improve their Margins
Most people are familiar with the standard address that retail associates use to greet customers to stores. The associate usually welcomes the customer and asks whether or not they need help finding anything. Sometimes, the worker may even rattle off the sales or promotions that the store is hosting.
However, the same old, robotic salutations are falling short in terms of encouraging the customer to give business to the store. More than ever before, retail workers need to connect with customers on a personal level. This makes the customer feel unique and special, like the store cares about them.
Furthermore, you can’t sell entirely on charm. Often, you need to sell customers on the true value of a product. Find out what they’re looking for or the needs they hope to be met. Establish how the product or services they’re inquiring about can have a positive effect on their life. Otherwise, there’s no purpose in them buying anything from your store.
Events and Promotions
I’m sure at some point in your life you’ve gone out of your way to shop somewhere because of a special holiday sale or promotion? Don’t worry, we all have. But that just speaks to how powerful these promotions can be for retailers. Consumers tend to put greater emphasis on sales when they’re centered on a special event.
Therefore, it isn’t a bad idea to mix in a few of these sales days throughout the year. Of course, you will probably be hosting promotions for big holidays like Christmas and New Year’s already, but you don’t always need the most important occasion to host others.
More retail stores than you think use small holidays like Memorial Day and inconsequential events like the changing of the seasons to drive sales events. You just need to know your target audience and the typical customers you attract so that you always know what they’ll respond positively towards.
Other times, besides actual retail sales strategies, you need to pay close attention to the way that you actually design your store’s layout. Savvy visual merchandising strategically uses displays, lighting and fixtures in a certain way that both attracts and entices shoppers.
The goal is to create a retail environment that a shopper feels comfortable visiting and likes enough to come back to again. This is why the seemingly irrelevant details of your store’s retail design should never be undervalued.
Always use signage and posters to alert shoppers of any sales or promotions that you’re running. There’s no sense in having a big sale if a shopper knows nothing about it. The point is that you need to pay close attention to your overall visual merchandising, because it means much more than you’d think.
If you can perfect these proven retail sales strategies, then your store should be on the road to success in turning a lucrative profit and gaining lifelong customers.