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Small Business Strategy Inquiry 2025 - ACT and Bira call for members to share their voice

20 Jun 2025

The House of Commons Business and Trade Committee has asked the ACT, and its parent company Bira, to help them reach out to small business retailers across the country, for their quick input on... Read more…

Beyond the discount: Restoring integrity to the cycle supply chain

18 Jun 2025

The Association of Cycle Traders believes the time has come for greater accountability throughout our supply chain, writes ACT Director Jonathan Harrison in an article published for BikeBiz.
Read more…

Bira welcomes Wales' business rates proposals but calls for key improvements

11 Jun 2025

Bira has welcomed the Welsh Government's consultation on business rate reforms for retail shops, whilst calling for significant improvements to ensure the proposals truly support high street... Read more…

New awards launch to champion Britain's independent high street heroes

9 Jun 2025

Retailers on Britain's high streets are being encouraged to put themselves forward for the first-ever Love Your High Street Awards, designed to celebrate the small businesses that bring... Read more…

"Tectonic shift" in employment law threatens independent retailer viability, warns Bira podcast

6 Jun 2025

Independent retailers are facing a "generational" transformation of employment law that could fundamentally change how small businesses operate, according to the final episode of Bira's first... Read more…

Retailers hope warm weather and bank holidays will boost high street sales

16 May 2025

ACT parent company Bira has said that members are hopeful the warm weather, Easter weekend and upcoming bank holidays will provide a much-needed boost to high street sales.
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Economic growth surges to 0.7%, but "April reality check" looms for high street retailers

15 May 2025

UK economy delivers strongest quarterly performance in a year despite forecasts of business downturn.
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Communities come together for Local Bike Shop Day 2025 celebrations

13 May 2025

Local Bike Shop Day 2025 brought a wave of... Read more…

ACT parent company Bira welcomes Bank of England's latest interest rate cut

8 May 2025

ACT parent company Bira has welcomed the Bank of England's decision to reduce interest rates from 4.5% to 4.25%, calling it a "much-needed boost" for the retail sector, including for cycling... Read more…

ACT parent company Bira responds to Beales' "Rachel Reeves Closing Down Sale" as iconic store makes final protest

8 May 2025

ACT parent company Bira has responded to the news that the 144-year-old Beales department store is staging a "Rachel Reeves Closing Down Sale" in its final weeks of trading, with giant yellow... Read more…

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Reinventing yourself to succeed

Posted on in Business News, Cycles News

business success The High Street isn't failing, it is buoyant and flourishing.

What is failing are the businesses without a plan, without innovation and without drive.

As businesses, you want to go back to the basics; product, price and people.

You want to reinvent yourself and your business through your people. People are the most important asset of a business.

Today:

  • Drive commercial layout
  • Drive innovation
  • Drive a confident team

You want to drive sales through the shop floor layout, drive sales with an engaged team and drive your sales through innovation and new initiatives.

Drive commercial layout

Today's customer demands an exciting experience, they want to shop in an interesting environment that is memorable.
Visual merchandising is important, so start increasing your sales through improved £££ per square foot. Think about point of sale (POS)! Your shop's entrance should be a best seller or non-distressed offer. Your entrance should change every couple of days because it's what people notice first.

Footfall numbers in today's day and age aren't as important as conversion rates based on a target. Footfall is something you can only influence to an extent. Make targets, meet targets and then drive those targets higher and higher.

Drive innovation

Visual merchandising, hotspots, themes and focal points are your key to best sellers. There are key focal points around your stores so utilise them in the best way.

hotspots 

Drive a confident team

Your team is the most important asset to your business.

Give your team goals and reward their success.

Start small and think about bringing your sales up by 10-20% and grow from there.

You want to invest in your staff. That could be through ideas or incentives but get your staff out into the store rather than behind the till, engaging with customers about the products they are passionate about.

One of the biggest things that stores fall short on is the add-on sale. Start communicating with your customers, a lot of customers don't randomly wander into stores, they are there for a reason even if that reason is merely curiosity.

The add-on sale is a forgotten version of sales, every fifth person says yes. The add-on sale isn't about being pushy but rather about communicating and serving the customer.

You want to reinvent yourself and your business all the time.

This doesn't mean changing what you sell but changing how you sell

 

 

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