Introduction
It is usually very exciting to open a retail shop. However, the challenge usually lies in making the shop a profitable one. For the success of any retail shop, the interest of the buyers must always come first. The store owner needs to stock those items that the customers need the most like the food stuff. Just attracting the customers alone is never enough; the store owner must also find a way of retaining those customers that have been attracted to the shop. The best way to attract customers is always to advertise the store to the people around.
Step 1
Apart from advertising the store, the location of the store also matters a lot. The retail shop should always be located in open lace that is easy to access. The area should have good road network while at the same time be secure. This will ensure that thieves do not break into the store when the owner is away.
Step 2
The retail shop owner should also stock their shops with most of the items that the customers need. This will ensure that the customers get all their requirements under one roof and this will save on their time. This can have a very big effect when it comes to customer attraction to the shop.
Step 3
One can also introduce the use of modern technology to their retail shop by allowing the online or even mobile phone shopping. This will allow customers to order for whatever goods they may need online or by phone call and have them delivered to them at their door steps. This is a very effective way of increasing individual’s sales since there are several internet users who can easily be converted to online shoppers.
Step 4
Even though having parties in the retail shop may be expensive, the store owner may organize cheap parties to the loyal customers at regular intervals. This is likely to attract many customers who may want to be included in the list of those customers who will be attending the parties. Those who may be running clothing retail shop may also include fashion shows to attract customers. This may help as those customers who may be satisfied with the services obtained are likely to spread the news to their friends about the services of this shop.
Step 5
Offering discounts to the customers may also help attract customer’s new customers and retain those already existing. This will lead to high sales of the retail shop which in the end will translate to increased profits. The retail shop owner should however be careful not to sell goods at very low prices that may lead to losses in the business.
Tips
The retail store should also be open for 24 hours to cater for those customers who may be coming from work late in the night. The communication between the customers and the shop attendant should also be well maintained to enable the shop owner identify the needs of the customers and respond to them. This will help retain the already existing customers and increase an individual sale that will in turn maximize on profits.
Sources and Citations
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