Top Tips for a Successful New Shop

Whether your retail business dream is large, small, and totally unique or tried and tested, there are some basis research areas that you’ll need to concentrate on before you’ve even selected your stock.

1. Location

Being at the right place at the right time is an old adage that rings forever true. If you want the traffic for the products you are selling, you need to be in an accessible and relevant location. This is assuming that you know that there is a genuine demand for the market you are cultivating, so perhaps take the time to look at the local area you’re thinking of and any similar retail outlets that might be out there. If there are some comparables, pop in, with business and economy being a hot topic to many business-people, it shouldn’t appear too intrusive to casually ask how well their business is doing. Do they feel the area is generating growth overall? A good area for a new investment? How well-received are their products?

This will also determine whether it’s the right place for the people you want to attract, what levels of footfall to expect and the general shopper dynamics. This might help you to decide how much square footage you will need for your retail space, too.

Be mindful of shoppers’ behaviour in certain areas and what you need to do to attract their attention and easily persuade them through your door. Bear in mind convenience, accessibility, and whether there is good parking facilities on-site or nearby. On the other hand, you may find more suburban areas are filled with those who tend to be local and, more often, happy to walk.

Do you need to locate yourself in a position where you reflect your product? For example, situating a shop in a small rural village where walkers and cyclists congregate, and you are selling outdoor wear.

2. Identity

Create a robust identity. What are you going to sell? Who is your target audience? Is that dependent on gender or a specific age group? and how to best connect with them. If you are aiming at the younger generation, then you need to have a funky, quirky style through your logo and shop styling. You need to link through their channels, social media, text messaging etc.

The 50+ male will more likely respond to a classic, mid-tone and masculine design with a highly organised and easy-view, neutral store layout.

Think about your Unique Selling Points that you can use to add extra weight and give customers something to identify you with, for example, organic foods, a unique fashion line in a boutique, supplier of UK goods only, etc.

3. Layout and Display Design

Depending on the size of your retail space, it pretty much regulates your layout. However, basic rules govern how to add impact to all areas, while keeping it open, inviting, enticing and user-friendly.

Using quality, sturdy shelving options mixed with dramatic island counters and gondolas gives a nice flow without being too ordinary and orderly. Keep your customers’ eyes roaming around the store, at different heights and levels so they stay inquisitive and enthused. Use materials and colours that reflect your brand and stay in keeping with the overall tone of your outlet.

Keep shelves well-stocked and brimming with options rather than one choice that might turn them off. Make sure they can take the weight and is the right display solution to show your product off to its full potential. Use a range of floor-standing racks, break-out sections or a power wall to provide an instant effect. Designate areas to depict themes and features that can easily change or be modified.

If you have a promotion in your window display, try to create some urgency or exclusively on your messaging. This will hopefully provide one reason to walk through the door, so make sure you have the product in-store in prime prominence, and make it easy for them to purchase.

For more inspiration, please take a look at our blogs ‘Tips To Make Your Store Layout Stand Out’ and part two, ‘First Impressions Count’.

4. Window Display

Before you have even opened create a stunning window display to get the tongues wagging. Tease your potential customers with something that’s going to make them excited to explore and walk through the doors from day one.

Perhaps change the display a few times before opening giving them a slow enticing build up, then name the date just a few days before with some opening promotions.

A store-opening party is often a good way to get locals and influencers involved, especially if you can get one or two media people on board too and gain some valuable local magazine column inches.

Once opened keep revitalising the window display so customers know that you are evolving and regularly have more to offer. Keep it fresh and invigorating, focusing on either new products, seasonal displays or in-store promotions?

5. Research and Staying on Trend

Keep abreast of changing and current retail market trends and potential merchandising opportunities. Fashion changes swiftly, and if you can be first to the market with new and original products, your customers will quickly recognise this and make a beeline for your initiatives. Follow what’s happening on social media within your industry, talk to your suppliers and stay on the pulse of the press.

However, don’t just jump on the bandwagon; is it relevant to your offering? No doubt you started this type of retail business because you are genuinely interested in the product that you are selling. It’s easy to get overwhelmed or distracted with new products and ideas a little further down the road, once the day-to-day running sets in and can set you off course. So speak to your customers, ask what they’d like to see and buy. They should have a good understanding of your outlet, seeing possibilities as an outsider, and they can offer you lateral thinking.

6. Your Team

Having a good team behind you with a common goal and a happy, hard-working attitude will always pay dividends to the overall running of any retail business. Training staff to ensure your business code is understood is a worthwhile investment. Retail is all about the customer, so your service to them has to be first-class. They should be willing to speak to customers, appear approachable, be polite, knowledgeable and possess a basic selling prowess. Provide them with a working practise if they encounter awkward or upset customers.

Make certain that all team members understand your products, their functionality, features, benefits and price variations, against other similar products as well as promotion changes.

Provide your team with the attire that you would expect to represent your business most suitably. Encourage regular team meetings, and if possible, the odd out-of-work activity to provide a ‘2nd family feel’ to your team to strengthen unity and the ethos of working together.

Your Customer is Always Right

Your business is solely built on sales, generated by fulfilled and satisfied customers. Ultimately, this holds the key to the success of your business. Make sure their experience with you is amazing, and they are the focus of all your business motivations.

Take the time to greet your customers genuinely, then work out exactly what they are looking for. They can be your brand ambassadors if you can create an environment that they feel comfortable, appreciated and can engage with, along with products that touch their senses.