Kavan Choksi Business Consultant Talks About The Ways to Increase Sales in Retail

Estimated read time 3 min read

Retail sales are an important predictor of the economic health of a nation. Strong retail sales indicate that people have confidence in their purchasing power and are encouraged to spend money. This can lead to improved economic activity and expansion. Kavan Choksi Business Consultant underlines that on the other hand, if retail sales are low, it might signal that people are apprehensive about the economy and hence are spending less money.

Kavan Choksi Business Consultant marks ways that can help retail businesses improve their sales

Most retailers strive towards the same goal, which is to accelerate the amount of foot traffic that comes into their store, as well as entice customers to return. This ambition however does come with a second problem, which is to figure out how to earn more sales along with the increase in the amount of foot traffic at the retail store. All retailers desiring to expand and grow their business should try to sell more during peak house, through up-selling and cross-selling, promotions, or just outright outstanding customer service.

Here are a few tried and tested strategies that might help people to increase sales in their retail shop:

  • Put consumers first: Every retailer must endeavor to be customer focused. It ultimately boils down to effectively comprehending the requirements of the target audience and prioritizing them appropriately. Doing so does go beyond just having their desired products in stock. Rather, it starts with improving the customer experience.  Retailers must have a dialogue with the customers, find out their needs and subsequently offer options that are priced according to what they can afford. If the customers enjoy the service provided at the store, they are more likely to return.
  • Invest marketing efforts at the point of purchase: Marketing at the point of purchase takes place when low-investment items are positioned near the cash register of the store. This is done to encourage impulse purchases of inexpensive items. Unlike goods present on the sales floor, customers decide whether or not to purchase a point-of-purchase product in only a few seconds. Gift cards, chocolates, and shoe cleaners are common examples of low-investment goods that can be used for this purpose.
  • Consider the foot traffic in the analysis: The initial step in improving the layout of a retail store would be to calculate the amount of foot traffic entering and exiting the establishment. Frequent analysis of the foot traffic of the store can help the business owner to evaluate whether or not their location and retail layout are ideal.
  • Develop an engaging retail space: Lighting, music, design and even aromas play a significant influence in establishing a retail experience that encourages purchasing. Hence, all of these aspects have to be considered to create a truly vibrant, engaging retail space.
  • Have a loyalty program: Loyalty programs can be a good tool for retailers. They offer vital insights into customer preferences and may help in increasing customer loyalty.

As per Kavan Choksi Business Consultant, all retail store owners must prioritize encouraging potential customers to venture inside their store. They can use many tactics for this purpose, ranging from appealing window displays and witty messages on an exterior sign to starting customer loyalty programs.

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