Personalising the Shopping Experience for Smaller Retailers – a Great Strategy
It’s a difficult environment out there in the retail world.
The question many smaller retailers are asking in 2018 is “How can we survive?”
Well, the good news is they’re still opportunities out there to set your business apart from the rest, and get ahead.
Don’t immediately think that competing on price is the answer. It may work but it certainly isn’t an easy fix strategy.
Focus on local market conditions and the behaviours of your customer base.
Make a point to study them closely with a goal to offering outstanding personalised customer service and experience.
Having a wide-ranging view of each customer enables smaller retailers to cater specifically for individuals in a personalised way.
Larger retailers might have more opportunity to use research data, but smaller retailers can do their own research to better understand and even predict their customers’ behaviours.
They can supplement talking to people in-store by conducting market research in their local area.
Ask questions like:
How do they shop? A combination of bricks and mortar, online or both?
Where do they shop? Locally? In large shopping malls or smaller strip shops?
What brings them into the store?
What do they like to do or see on entering the store?
What new and innovative technology do shoppers like to take advantage of?
Personalisation of the shopping experience by constantly refreshing the look of the retail store is a sound strategy.
It’s a great way to get customers coming back.
Changing the layout, even in minor ways, changing merchandise displays frequently, refreshing the entrance often, updating signage, offering extra touches, make it interesting and “new”.
Larger retailers are often less agile to be able to do this, so this is where smaller retailers win.
Offering a range of specialised products and services whilst giving a personalised experience to customers in a smaller store context is a great strategy. Larger retailers located especially in oversized shopping malls are now being seen as less favourable and more impersonal than ever.
The future is looking like heading away from large traditional models into smaller, more localised shopping.
A great strategy is to choose stock which is different from the larger stores and combine it with the latest technology.
As a savvy retailer, you’re able to be more responsive to consumer demand.
Technology is a great advantage for a small store.
If applied well, any customer with a mobile device could use an app which might give immediate notification of sales so you know what's popular, what your stock levels are and what you should be ordering for advance stocking.
A great tool!
Personalising the experience is a retailer’s winner.
Make it all about keeping up and having that edge over your competitors.