Tag: customers

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Retailing in a Recession: Part Two

retailing in a recession

Although we aren’t in a recession, we want to give all retailers the tools to succeed if there is one. In part two of our series, we cover how customers can spend more in your store.

Recession Tip: Find the Needs-Offer Gap

A great way to retail in a recession is to get customers to spend more. Easy right? All you have to do is give them what they want. The challenge lies in figuring out what they want (and no, unfortunately it isn’t more of what you’re already selling). Enter the needs-offer gap.

To identify your needs-offer gap, you’ll need more than data. Unfortunately, data will only tell you what is selling, not what could be selling. However, if you do the work to identify your needs-offer gap your store will reap the benefits.

Take this example. A retailer was experiencing a decline in apparel sales. They could have limited the apparel they were offering and expanded their accessories and handbags (which were selling), but this would have led to over serving. Instead, the retailer looked at why their customers shopped elsewhere for apparel. They found out their customer base wanted “clothing for the right occasions, in the right styles, at the right price, and with the right fit.”

This led to the retailer evaluating their merchandise initiatives. By introducing new brands, offering more wear-to-work options, and expanding mix-and-match basics, the retailers saw their margins improve.

For more information on the needs-offer gap, check out rule number two in the Harvard Business Review’s Five Rules for Retailing in a Recession. And stay tuned next week to learn more on good versus bad costs in part three of our Retailing in a Recession series.

If you’re looking for more information to guide you in owning a retail business, subscribe to Creative Retailer today. Already a subscriber? No worries—join our Facebook group for insights and dialogue from industry specialists like you. And don’t forget, you can always purchase single issues if you prefer that instead.

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Make the Most of Mannequins

mannequins

Did you know customers are more likely to notice mannequins than any other fixture in your store or window display? This is simply because mannequins look like them. Read on for six ways to dress a form to add to your store’s environment.

How to Dress Mannequins

  • Be dramatic: Think of items you can style on your form. The goal is to spark interest to products customer wouldn’t have otherwise thought of to increase sales. Pro tip: use items that are experiencing a sales slump!
  • Add-on: Consider adding surprise items, such as a button necklace, to your mannequin. This might entice shoppers to head to your lightly visited button area in the corner of your store.
  • Tell a story: Use your mannequin to tell a story about the product. It’s a much more effective way of connecting with customers compared to showing a slew of choices in a strewn-out manner.
  • Think light: Less is more. Try not to overdue props or supplies as the product should stand for itself.
  • Try marketing: Use your mannequin in social media. Consider adding a competition for followers to name the mannequin (where the winner gets a prize)!
  • Be intentional with color: Colors that highlight current trends (think Pantone’s Color of the Year) are a great way to show your signature style.

Inspiration for this post came from “Dress Them Up” by Anna Woodward published in the August 2022 issue of American Quilt Retailer.

If you’re looking for more information to guide you in owning a retail business, subscribe to American Quilt Retailer today. Already a subscriber? No worries—join our Facebook group for insights and dialogue from industry specialists like you. And don’t forget, you can always purchase single issues if you prefer that instead.

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Small Business Guide to Blogging

blogging

Isn’t it ironic that you can read a guide to blogging from a blog? Every small business should have one—read on to find out how to start yours.

Blogging 101

The first thing to know about blogging is that your customers are your readers. So blog for them!

Second, the content you’re blogging about should be constructive. It’s easy to think of blog ideas when you think of what you’d like to know. Topics can include day-to-day problems, social media tips, display ideas, inventory management, what gets you inspired (including self-help books and self-care strategies), the list is endless really.

Third, you don’t have to write a lot, but you should post often. When it comes to blogging consistent content is more important than thorough content. Speaking of content, people are visual thinkers and learners so images are important. Believe it or not, a catchy title can go a long way as well.

Finally, get the whole team involved. Your blog will go places further than you imagined when you bring in others to help.

Executing your blog

The easiest way to stay consistent with blog posts is to plan them out. A great way to plan your content is to become inspired by customers! What questions have they been asking lately? Is there any sort of product that seems to be in higher demand?

Similar to your physical store, you should interact with your customers online. That is, if someone comments, respond!

Last but not least, analyze your readership numbers. If something doesn’t seem to be working, try something new to see if that fixes it.

If you’re looking for more information to guide you in owning a retail business, subscribe to American Quilt Retailer today. Already a subscriber? No worries—join our Facebook group for insights and dialogue from industry specialists like you. And don’t forget, you can always purchase single issues if you prefer that instead.

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A Guide to Copywriting

A Guide to Copywriting

Copywriting may seem easy on a surface level, but the best copywriters spend hours trying to come up with the perfect line.

So what is copywriting? Copywriting is the art of writing copy (or the words that go on your website, products, advertisement, etc.) that make your services compelling and initiates your customers to take action.

Sales people reach customers one at a time, and a copywriter reaches them all at once. Although it may just seem like words on a paper, copywriting is a critical part of your business.

Understand your product or service

You should know your product or service inside and outside. If you don’t spend some time with it, researching it, using it, and whatever else you can do. This sets up the baseline and gives you the sales advantage; you should be the service expert so anytime someone asks you a question you know more about it than anyone else.

Create your product/service description

A good way to start this is to answer these questions:

  • What makes the product or service unique?
  • How would you describe the product or service?
  • What benefit does the product or service provide?
  • Is their pain the product or service alleviates?
  • What are the product or services features?

By knowing your product or service better than anyone else, answering these questions should come easy.

Know your customers

Knowing you customers, and what they want, can take some trial and error. One thing that will make this trial and error easier is through research. Here are some questions you should find the answer to:

  • Who currently buys your product or uses your service?
  • Who would you like to buy your product or use your service?
  • What does your typical customer look like?
  • What do they love?

Knowing your customer means you can cater your copy to make it more compelling. Remember, copywriting should be unique, specific, and convey urgency. The combination of these may not seem easy, but with a little work you can become persuasive in 20 words or less.

If you’re looking for more information to guide you in owning a retail business, subscribe to American Quilt Retailer today. Already a subscriber? No worries—join our Facebook group for insights and dialogue from industry specialists like you.