In March 2020, retail business owners had to shift their operations quickly so they could survive. As life starts to return to normal—or something resembling normal—many retail companies face the task of returning to their pre-pandemic profits.
For some businesses this creates a challenge: retail stores are used to customers visiting brick-and-mortar locations, but for over a year now, many stores have operated mostly or entirely online.
Here are some retail store recovery tips for how to improve your retail store performance, so your business can continue to thrive.
Retail store recovery tips
The pandemic had a significant impact on the retail industry and how customers shop. Many retail businesses moved operations online, and customers grew used to the convenience of shopping from home at any time. Rather than planning to go shopping, they planned around delivery times or opted for curbside pickup.
Those who did go out shopping tended to frequent stores where they could get everything in one location. Big box stores did well, with one report indicating they had an earnings decline of only 0.6% on average, compared with mall-based retailers whose earnings reportedly dropped 256% from last year.
That doesn’t mean you have to start offering everything under the sun at your shop to be successful. It does mean that you’ll likely have to implement some retail store recovery tips if you want to improve your retail sales performance.
Embrace online shopping
When stores closed and people had to stay home, customers turned to their computers and mobile devices to make purchases. Even those who may not have ever considered online shopping before the pandemic found themselves browsing online stores. This is a habit that could continue as stores reopen.
Many people may shop online but schedule curbside pickup rather than going into the store. If you can, offer both options for your customers.
Understand changes in what people buy
With people working remotely and not able to go out, casual and workout clothing has become much more popular. Companies that offer professional wear have seen a decrease in sales, while online pajama sales increased 143%, according to one report.
Look at your sales to see whether your customers have shifted their purchases and whether you could adapt your offerings to accommodate the change.
Offer ways to buy without touching items
Many shopping experiences involve touching, tasting or trying on items before purchasing them. A significant part of make-up purchasing was trying on colours before making a selection. Grocery stores and speciality food stores often offered food samples to whet the appetite and increase interest in a product.
To limit shared surfaces and interactions—and maintain compliance with guidelines—stores have done away with the hands-on experience, which affects the shopping experience.
If you’ve previously relied on customers touching or sampling products first, you may have to figure out a way around it, such as virtually trying on clothing or minimizing customer interactions with samples.
Strategies to improve your retail store performance
Now that stores are reopening, there are ways to go about improving retail store performance and get your sales back to where you want them.
Show you care
Many customers are uncertain about shopping in person and need to feel safe and comfortable to do so. Acknowledge the uncertainty and show people that they’re safe coming into your store. Have employees consistently sanitizing your shop. Enforce cleaning rules so customers see that your store is safe.
Host events
You may have to reduce the number of people who enter your store at a time, but you can host events to encourage people to come in (in line with local government guidelines).
Sponsor events that are relevant to your store—for example, if you have a clothing store, invite a stylist to lead an in-store workshop on choosing clothing that complements skin tone. Limit the number of tickets you sell and offer a discount for customers who make a purchase following the workshop.
Reward customers
Retail stores can offer loyalty programs that reward customers for shopping with them—and for how they shop.
Offer a discount the first time they order online for curbside or in-store pickup. Give bonus rewards when customers shop at typically slow periods. Replicate online bonuses in your store—if you offer free samples when people buy online, offer them in the store as well.
Streamline the in-store experience
Customers have grown used to entering and exiting stores quickly with very few other people around. Providing your retail business customers with a streamlined in-store experience encourages them to come in.
Offer online virtual walkthroughs of your store so customers can see where the items they need are located before they come in. Provide contactless payment so they don’t have to worry about handling a payment terminal that many other people have also touched. Place the most frequently purchased items at the front of the store rather than forcing people to walk through your location to find them.
Reimagine your brick-and-mortar strategy
You don’t have to make major changes to your retail business to encourage customers to come back in. By implementing a few retail business growth strategies you can improve your retail store’s performance.
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This article is intended for general informational purposes only and does not constitute legal advice or an opinion on any issue. It should not be regarded as comprehensive or a substitute for professional advice.