With retail trends and consumer habits changing everyday, we need to do everything possible to retain our customers even as we seek to get new ones. With vast research and speaking to experts in the industry we not only discovered what retailers can do to improve their businesses but also some common habits they should certainly get rid of.
1. Not knowing customers
Customers are the most important people in any retailer’s business, because without them there is just no business going on. When customers have a good experience the first time, they are likely to return. The more you interact with your customers, both new and repeat, you are likely to get to know what they like, their best time to shop and their spending power. You could even get down to the nitty gritties and create small profiles for them. Once you know them well, you can be able to make personalized offers through emails and whatsapp. It will also help you know the item/s on demand and what’s not so that you may increase or reduce their stock.
2. Not accepting many payment options
It is important to have several payment options so as to accommodate all sorts of clients, this includes cash, swiping and mobile money. Having only one payment option may lock out several clients. It is also a good idea to include the credit customers which may be well accounted for if you use a system like the RetailPay PoS.
3. Not taking advantage of data collected
Collection of all data is important from the onset of the business. It helps in monitoring the business and ultimately improve short and long term goals. The RetailPay PoS helps in data collection by capturing details of all transactions that take place in the retail outlet. Google Analytics also helps a great deal when you want to capture information on online visits to your website and social media services. It also helps to determine website conversions during marketing campaigns.
4. Not converting browsers to buyers
Other than tracking the online site visits, it is important to convert these visitors to buyers. First things first, to ensure the sites being visited are easy to navigate, the images load easily and all the information provided is clear and easy to understand. You can then monitor to see which sections are visited the most and through which platforms the visitors are streaming in from. This makes it easier to track the visitors and contact them.
5. Not being flexible to change
Every retailer should be flexible enough to learn from mistakes made in the past and possibly change their way of running their business in order to improve it all round.