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5 Retail Best Practices That Will Help You Succeed

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5 Retail Best Practices That Will Help You Succeed

5 Retail Best Practices That Will Help You Succeed

Living in the modern era, many retailers are complaining about how their businesses are struggling in the midst of today’s competitive landscape when technology is evolving every day, fresh competitors are entering in the massive market with new ideas, and trends are changing in no time. Here are the 5 best practices that we believe will help retailers all over the world to improve their in-store processes, stay ahead of the competition, and grow their business:

 

Pay More to Your Employees

Never compromise your store’s ability to create an exceptional experience for your customers by hiring people who will work only for wages. You all are sailing on the same boat, so if they are serving you with enthusiasm and loyalty, you should pay them back with the same energy to keep the flow going. When you pay employees more, you can expect more. Stores that pay higher wages with more full-timers have lower turnover and higher profitability.

Also, when you hire people to work for your repair business, ensure they understand your business plan, their goals are aligned to yours, and encourage them to work their hardest to make that a reality.

Use Efficient Training Methods

Focus on providing retail training on the topics that solve common issues faced by your sales associates. This could include how to handle common sales objections, how to deal with difficult customers, or properly preparing the store for selling. Either you can choose in-house training and ask any senior employee to train the juniors, or opt for the latest courses offered by experts.

Researches show that about 46% of employees stay if the company is willing to invest in their skill-enhancement training. Take nothing for granted when it comes to how your employees answer the phone, greet a customer, sell your merchandise – even take out the trash. Retail sales training is a must.

Analyze Your Inventory Turnover

More piled up shelves, more models, more choice is not what customers are looking for. Your customers are looking for the best choice. Be very attentive about your in-stock investment, and in order to determine whether the inventory turnover ratio is high or low, you should compare it with the industry average. Also, there are various ways to boost your inventory turnover ratio – using grouping and detailed up-to-date reports help to make clear what is selling well and generating actual profit and what is not is a good way place to start.

RepairDesk provides you with an extensive variety of reports meeting all your business needs. From sales to inventory reports, employee tracking to profit reports, we have everything that you are looking for!

Use Digital Tools to Drive In-Store Traffic

Surprisingly, many businesses continue to stick with the same traditional advertising methods they have always used instead of taking advantage of smart technologies. In this digital generation, retailers need to create memorable interactive experiences that take customers beyond shopping and make their store a destination in order to drive foot traffic throughout the year.

Your repair store can offer more than repair services! It is one of the best practices to install smart devices to take orders, touch screens, customer-facing displays with attractive banners, or go for the splash screens showing discounts to an all-new dimension of customer service.

Use integrations to power automation

There are plenty of powerful integrations that make it easy for retailers to automate their workflows and it is a necessity for today’s businesses. Offer different payment methods, self-check-ins, and automatic email campaigns to get maximum engagement from your customers. It is always the best practice to facilitate your user. If you don’t have multiple payment methods other than cash that you accept, you risk losing a sale. TSYS, PayPal and Square are all great options but do your research first to find the best fit for your business needs.

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