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Reinventing yourself to succeed

27 Feb 2019

Forget the noise of the High Street, reinvent the noise on the High Street
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Make your staff aware

27 Feb 2019

The minimum workplace pension contributions will soon be increasing
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Discover the latest trends in food and drink

25 Feb 2019

Discover the latest trends in food and drink at Fine Food Show North 

Read more…

Brexit guidance for retailers

18 Feb 2019

The government has published more Brexit guidance for retailers in the case of a no deal Brexit
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Smart metering implementation programme

15 Feb 2019

The Department for Business, Energy and Industrial Strategy's have proposed to increase engagement with microbusinesses to build their awareness and understanding of the use of smart meters
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Extending the Single-Use Carrier Bag Charge

15 Feb 2019

The Department of Environment, Food and Rural Affairs' have proposed to extend the carrier bag charge
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E-learning courses for businesses

11 Feb 2019

East Sussex Trading Standards are working with their partners in the Fire Service and Environmental Health and widely through the Business Advice and Support Partnership to supply e-learning for... Read more…

Guidance in preparing for EU exit

11 Feb 2019

A new guidance has been published for the retail sector with information on preparing for the EU exit
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Mobile ecommerce conversions are low, but why?

8 Feb 2019

Desktop ecommerce is getting outweighed by mobile ecommerce but conversions are still very low
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Click & Collect market is predicted to grow

8 Feb 2019

The click & collect market is predicted to grow to 46% over the next five years
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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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