How do independent brick-and-mortar retailers become the store of choice? It comes down to two things that I explain in this episode of Real Retail TV. You have to be a skilled retailer and you have to commit to creating a great customer experience. It’s all about doing the things that the big box stores can’t or won’t do.
Is employee loyalty dead? Absolutely not. But just like customer loyalty, employee loyalty must also be earned. You have to make your employees feel valued and included. The labor market is much more fluid than it used to be. The best retailers will take this as an opportunity to level up their recruiting skills and build a deep bench.
If you automatically assume customer loyalty you are going to wind up disappointed. It’s not up to your customers to be loyal, it is up to you to earn their loyalty. There are many things you can do to engender customer loyalty. Proactively build the relationship by providing an exceptional in-store experience, implementing a great loyalty program, and having customer-friendly policies.
If you want to build a business that serves your life, now is the time to write a vision that will get you there. What do you really want from your business? How can you spend less time in your business and more time enjoying your life? A vision statement can become the roadmap to get you to the future you desire.
Should independent retailers be passing along these fees to their customers? The short answer is no. It’s your #1 competitive advantage to be able to provide an incredible in-store experience. And no matter how wonderful your sales staff is or how perfect your merchandise is, when a customer goes to pay and sees that they’re being charged a credit card fee, they’re going to feel like they’re being nickeled and dimed.
In this episode of Real Retail TV, I share what I believe to be the best store hours for independent retailers. The bottom line is, if you want to be competitive with the big box stores, you have to keep the same hours as they do. The goal is to make it as easy as possible for your customers to shop when they want to shop.
In this episode of Real Retail TV, you’ll discover how one simple question can get your team more focused and move you closer to your goals. Here at WhizBang! Training, we teach W.W.M.C.W. (What Would My Customer Want?). When you ask yourself this before any customer interaction you can easily build a culture that creates customer loyalty.
Main Street isn’t a place, it’s a state of mind. Whether your store is in a quaint downtown, in a strip mall, or in the middle of nowhere, you can still be a “Main Street” merchant. The main street state of mind encompasses the power you hold as an independent retailer. It’s your creativity and your customer focus that drive local loyalty.
After 40+ years of experience in retail, I have identified 12 traits that make successful independent retailers. In order to become competitive in today’s market, store owners need to build a strong foundation with these characteristics.
One mistake I see many retailers make is putting all of their efforts into new customer acquisition when in reality, the easiest way to grow your business is by increasing your average ticket. But beyond that, the big money really comes from getting your current customers to shop with you more often.
