The secret to successful retailing is to be one step ahead. This is perhaps the hardest challenge for small retailers.
However, it’s the quietest season of the year so it’s a great time for you to get your shop in order. So, here’s our top tips for making some retail resolutions that will set you up for a prosperous year.
Resolution #1: Make that stocktake happen
Many Pros are guilty of avoiding that full stocktake, which is the only real way of knowing what is working in your shop. Most pros are on a stock turn of 2 but this could easily be 3. By doing stocktake and making sure you do them regularly, the average shop would have around £15,000 more in their pocket. Don’t worry, we can help you achieve this. We work hard to provide you with technology that makes stocktaking as easy as possible but, if you still can’t face doing it yourself, we also offer an expert independent stocktake service to get your business back on track.
Resolution #2: Make sure you have a tidy shop
Commit to rearranging shelves, club racks and displays every day. A tidy shop, that’s aesthetically pleasing will encourage customers to buy as they will be able to see and find products easily.
Resolution #3: Make your EPOS system work efficiently
An efficient EPOS system will allow you to create more accurate business reports and ultimately make better business decisions. Spend a couple of hours sorting out your product categories and suppliers to make sure the information is going to the right places. Clean up all those products that have zero or negative stock so you know how much stock you really have.
Resolution #4: Invest in staff training
A well-trained team will mean an efficient shop and more sales. It’s important to have staff who understand the basic principles of selling and know the features and benefits of the products that are being stocked – they can also make your customers feel special too. It’s always worth the investment.
Resolution #5: Get to know your customers
Knowing your customer is key and it’s the reason why many companies survive and even thrive. If you accurately identify your target customer and stock the products that they want to buy, you’re far more likely to get those all-important sales.
Resolution #6: Turn quiet times into productive times
As our Chairman, Phil Barnard, mentioned in his blog, asking staff to put their phones away will make for a much more productive shop. Without Facebook and other distractions, you and your team will discover there are far more hours in the day. Instead they could be using XAPP, our stocktaking app, to make sure the stocktake is happening every day, how productive and powerful that can be.
So, have our retail resolutions inspired you? Or would you like some more expert advice? Get in touch with our team on 01454 418 395 and we can visit you onsite to help make 2017 the year your kept your retail resolutions.