Thursday, 27 March 2014

A clear purpose of what your retail business delivers is key

You must be able to communicate what your retail business stands for and what your customers are to expect in order to be successful.  The more successful retailers of the present times are clear in what they do best, tell their customers "what they are famous for" and their customers respond with loyalty and passion.

Some examples-

Poundland and Home Bargains stand out here for me, as they consistently offer good products at a great price and their customers love it.  You can expect average customer service, often long queues and no shop floor staff to ask questions, but this is the price you pay to pay the price you pay!

This is the success story of John Lewis and Waitrose over the long-term and especially over the last few years.  The long-standing guarantee of "Never Knowingly Undersold" is their tagline but it is the absolute quality of their products (and staff) that sets them apart.

Getting the fashion trends "just right"
Now this is more difficult to put your finger on, but Next and Zara have hit the nail on the head, year after year.  They produce what their customers want to wear and their growth and sales have followed.

I have marked this as what a retailer can stand for as Tesco with their Clubcard and Boots with their Advantage Card have built loyal customers through their store card schemes, even though they lack in certain other areas (in my view, Tesco with service and Boots with price.)

Their are certain retailers that are just accepted or known as the experts or leaders in a certain area.  If you want to buy sports gear then you will more than likely end up in Sports Direct.

All of these companies named have posted great results over the years and they, their staff and their customers are very clear in what they get from their shopping experience.

Ensure that you and your team have a strong, solid idea of what you want to be famous for and  communicate this clearly and consistently to your customers with your everyday conversations with your customers, your marketing and your social media presence.

No comments:

Post a Comment

If you have any comments or questions about my blog then please let me know via the comments section.