If retail was to be summarized in numbers, the key statistic would be the sale conversion rate. While determining the financial health of the retail business, it is vital to ascertain the conversion rate out of the total incoming traffic in the store. A steady incline in conversions is usually linked with increased in-store traffic in the future. The challenge lies in mastering the sophisticated combination of attracting more foot traffic and delivering personalized attention to individual customers.
Store display – How many times have you entered a store just because it looked intriguing and just too appealing? It happens. And it can happen for your store, if you put your best out in a spectacular display. Creative brand and product imagery can help a small kiosk win over a sprawling showroom. Excite passing customers with interesting display and incentivizing signage. Keep them changing as per seasons, occasions and promotions, to counter visual fatigue. In an overcrowded marketplace, if you could manage to get the prospects into your store – half the battle is won!
Sales training – This might sound very basic and an existent part of retail business, in varying degrees. But in the customer-centric retail arena, just warm greetings and polite pointing don’t make the cut. Your in-store sales staff and customer support agents need to be groomed, trained and empowered with the right technology to consult customers with confidence. When a customer is treated with a truly personable experience, it becomes the key distinguishing factor for her to return to the store instead of using other channels to make the purchase, next time.
Customer feedback – One of the best trends followed in the present social media age is being vocal about your likes and dislikes. Customers vociferously review, critique and comment on various subjects, including their retail experiences. Online/offline surveys work to an extent but it can’t be your only medium of accumulating customer feedback. A substantial, savvy and trustworthy multi-channel presence wins favor with all kinds of customers. It induces and initiates conversations that engage customers and prospects alike. Through this, retailers derive actionable feedback which helps fulfilling customer expectations and nurtures brand loyalty.