Managing a successful business today, especially a retailer, is no small challenge. There are so many things to think about from staff management to replenishing stock, all the while with you trying to find new ways to improve your profit margins.
While this may feel like a constant battle, there are some methods you can use to really improve your chances of success as a small, independent retailer. We’ve put together a few of our best tips to help improve the way you run things and ultimately allow you to find much more success.
Incorporate Digital Ordering
One of the biggest focuses of retailers today is to improve the experience for their customers, especially when it comes to efficiency. Many Brits prefer to shop online today, and giving customers the option to buy online so they can quickly pick up their order in-store, as well as giving them the option to order for delivery, is a great way to keep your small indie business relevant and desirable to those with busy schedules or those that are hesitant to spend too much time inside shops.
As well as this, digital ordering services can double as a preview system so that people can browse your stock before swinging by and making a purchase. This not only benefits these customers, but it also helps to keep your store running smoothly, decreasing the amount of people taking up space browsing your shop, which can deter other customers from coming in.
Decluttering the shop floor
Another focus of store owners is to keep the shop floor generally clear and accessible for safety reasons. Aisles have been widened, extra space has been created, and one-way systems have been implemented. Unfortunately, as a small business, storage of this excess stock isn’t always the easiest thing to find. It may be worthwhile finding a new solution to keep any stock you’ve had to take out to clear some room. You could find a storage container for hire from companies like Jennings Containers & Storage where you can safely store that stock or even things like furniture that you’ve had to remove from the shop floor, such as counters and shelving units.
Play To Your Strengths
It’s obvious that there are some serious challenges for independent retailers, especially when it comes to resources and general selling power. Big high street chains have a huge amount of power behind them, and their recognisable brand will always bring in the masses, oftentimes taking potential customers away from you.
With that said, there are actually some great strengths to being an independent retailer. You may not be able to go toe-to-toe with the big brands, but you can use your flexibility and adaptability to your advantage. Keep on top of local and global trends and implement them quickly into your business, as this can often take months of marketing research and logistical efforts for a big superstore. You could even work with other local retailers in a sort of alliance, directing customers to each other for items that you don’t stock. As well as this, think about making your store and brand into a foundation of the local community by being extremely customer focused, getting your name out there during local events, and even being a voice for local communities and charities.