Photo by Artificial Photography on Unsplash
We’re delving further and further into the future, and from a business standpoint, that means more transactions are taking place online. It’s becoming more and more convenient for us to do things from the comfort of our own homes – especially during this strange pandemic era. Clicking on an item and having a courier service deliver it seems like a no-brainer at this point. Either that, or we download whatever we purchase immediately onto our device. We barely have to move a muscle nowadays.
Still, that doesn’t mean real, physical, tangible outlets don’t still exist – and do very well, of course. A lot of us still need to get out of the house and walk into a building that is selling the goods we need. The technological era is well underway and will continue to make things convenient, but actual retail stores will not be going away for a while.
That said, if you’re a budding entrepreneur looking to sell items to the general public in the hope of creating a fortune, then you might want to consider opening up a physical retail outlet. Having an online business is all well and good, but you need to be able to branch out (pardon the pun) and reach every single lead you can attract.
If this idea has crossed your mind, or better, is part of your plan, then you might want to consider how you’re going to approach the entire project. It’s not just a case of acquiring a building, laying out your products, and standing behind a counter. That would’ve worked in the old days (or if you’re selling lemonade), but you need to up your game a little nowadays. Here are a few things you’ll need to do if you want to compete in the retail game:
The Perfect Location
You need to pick your place carefully. People will subconsciously (and sometimes consciously) judge where you’re situated. It would be nice if you could house yourselves comfortably within an area that is rich in retail business so that you’re well and truly ingratiated, but that probably won’t happen to begin with. What you don’t want to do is land in some old, rough area that nobody will want to travel to – that’s a fundamental flaw right there.
A Well Thought Out Floor Plan
Again, it’s not just a case of throwing any odd item on the rack and hoping someone buys. You have to think about where everything is placed and how it is placed. There are small psychological cues that many don’t even consider when it comes to the retail world. For instance, you need to leave a space at the entrance as you don’t want to overwhelm or bombard new customers. You should also trick small, impulsive products near the exit as people tend to give in and spend a little before they leave. Those are just two examples, but there are so many.
Perfect Service
Customer service is obviously a huge part of having a successful retail store. It should go without saying, but your staff should be trained in terms of the way they present themselves. Being cordial and keeping calm under pressure are two huge parts of this job, and they’ll need them in abundance. They should also know a fair bit about what they’re selling – especially if it’s a real niche store. If you’re opening up something akin to a supermarket that sells all kinds of things, then they can be forgiven for not knowing absolutely everything about the contents.
The Right Technology
Nowadays, technology reigns supreme – as we mentioned at the start of this. If you’re stuck in the past, then other stores are going to be a more attractive prospect. You’ll need to bring in some digital assistance. Things like credit card machines from merchant accounts, security systems and cameras, self-checkouts, and interactive boards are all expected at the very least in the year 2020. Sure, you may not begin with all this stuff, but as you grow, they should become part of the store as standard.
The Brand’s Colours And Design
You can’t just add whatever you like to the store’s design. Well, it’s a free world, so technically you can, but you won’t be taken as seriously as perhaps you’d like. You need to keep everything in line with how your brand looks and will always look. People become familiar with particular graphics, colours, words, and behaviours, so they might not like what they see if you go changing things up suddenly. You’re also going to want your brand, design, and colour ingrained in people’s minds – so that continuity is necessary.