When the till stops ringing and you make it through lunch uninterrupted… it’s easy to slip into the doom and gloom and assume people just aren’t spending. But that’s rarely the whole story. Before you panic… take a step back and get curious: What could be stopping people from buying?
Check your product mix first. Are you offering what your customers actually want right now? (Think seasonality and weather changes.) Your sales data can tell you what’s working and what isn’t. Listen to feedback, too. What customers say (or don’t say) is just as important as what they buy.
Next, look at your pricing. If people are browsing but not buying, they might not see the value in what you’re offering. Review your competitors to see where you sit in the marketplace. It’s not always about being cheaper, it’s about being clearer and creating a better perception of the value of the product.
Then review how your stock is merchandised. Where it is placed, the layout of your shop, how much product is displayed and how that looks, really can influence sales. Sometimes, small tweaks like bundling products together or repositioning stock can quickly create a different outcome.
Finally, walk through your shop like a new customer. Is your layout inviting? Are your bestsellers easy to find? Is there any other information you can share via good-quality signage? Small changes to how your shop space feels and how your products look (are merchandised) can have a big impact on what people decide to buy.
If your retail business is under four years old, you might find my free e-book Moving Beyond Survival helpful, it’s full of practical tips to make the early years more manageable and profitable. Find Out More HERE or head over to Get Your Copy NOW
