How to Make More Sales in Retail
Jan 12, 2022
The retail industry has been in a state of flux for the past decade, and it’s not going to get any better anytime soon. Sales are down, costs are up and margins are shrinking fast.
Retailers who want to survive need to learn how to make more sales with fewer resources. This is the only way they can stay ahead of their competition and avoid getting swallowed by them. This article will show how retailers can increase sales without spending money on advertising or marketing campaigns.
Growing revenue starts with understanding how people shop for things today: where they go for information before shopping, how they research products before choosing to shop and what influences their choices when shopping online and in brick-and-mortar stores. We also reveal some proven techniques to increase the average shopping value and how to turn one-time shoppers into loyal customers.
12 Tips to Make More Sales in Retail
1. Create a Compelling Story
When people walk into a store, they are looking for an experience. They want to feel like they are a part of something, that they are a part of the story being told by the retailer. If you can create a story that engages customers and makes them feel like they are a part of it, you will be more likely to make more sales.
2. Know Your Customers
If you know your customers, then you can find out how to make more sales in retail. You need to know how they shop and what type of experience they are looking for when walking into the store. Find out how old they are, how much money they make and where they live — this information will help you understand how best to market and advertise your services and products.
3. Identify How They Shop
It's not just enough to know your customers, you also need to understand how they shop. Some people shop impulsively, while others take their time and do a lot of research before making a choice. Knowing how your customers shop is essential to make more sales in retail.
4. Give a Great Customer Experience
Once you know how your customers like to shop, you can begin to create a great customer experience. This is how most companies are able to make more sales in retail. They pay attention to the smallest details and they go above and beyond when it comes to how they treat their customers so that they walk away feeling appreciated.
5. Offer Discounts
Discounts are a great way to make more sales in retail. People love to feel like they are getting a good deal, and if you can offer them discounts on your products or services, they will be more likely to shop from you. You will want to be careful though because you don't want to offer too many discounts or people will start to think your products are overpriced.
6. Use Social Media
Social media is how many people are making more sales in retail. Companies have large followings on Facebook, Twitter, Instagram and other platforms which they can use to advertise their products or services. You should be using social media, too. Create a business account that you can link to your website so that it will drive traffic there. Social media channels also offer paid opportunities to get in front of more people, so be sure to take advantage of those as well.
7. Prioritize Quality
If you want to make more sales in retail, then you need to prioritize quality. It is an easy way to become successful, helping your store gain a strong reputation of offering excellent customer service and products that are of high quality. When customers know they can trust you, they are more likely to return and make a shop with you.
8. Embrace Mobile Commerce
More and more people are using their smartphones to do their shopping, so it is important that you embrace mobile commerce. This means that your website should be optimized for mobile devices, and you should have a shopping app that customers can download. Embracing mobile will allow you to expand your reach and make more sales in retail.
9. Be Easy to Find
Make sure that your store is easy to find. If people can't find it, they won't be able to shop for anything from you. Use a good map system on your website (and on social media) and ensure that your store's location is clearly marked. You should also have a good sign out front so that people know where you are. When it comes to an internet presence, you also want to be easy to find on search engines as consumers are likely to use their phones and Google to search for the products they are looking for.
10. Communicate Clearly
If you want to make more sales in retail, then you need to communicate clearly with your customers online and in your marketing materials. This means having a clear and concise website that is easy to navigate with easily accessible contact information, and marketing materials that are equally clear. If there are any questions or concerns that customers have, they should be able to get in touch with you quickly and easily.
11. Create Loyalty Programs
Loyalty programs are great ways to make more sales in retail because they give you the opportunity to create long-term relationships with your customers. They also help bring back those customers who have been shopping elsewhere, as they can now earn points for shopping with you. Loyalty programs are often free and easy to set up, so there is no reason not to seriously consider them when thinking about how to make more sales in retail.
12. Offer Add-ons
Many people have a hard time making a decision when they walk into a store. If you want to make more sales in retail, then you need to help them out by finding ways to sell add-ons. These are smaller products that complement your main goods, and if customers shop for those as well, they will spend more money overall. This is how many stores make more sales in retail.
How Can Acima Help?
If you’re looking to increase your retail sales count, consider Acima. Acima empowers consumers and merchants with our point-of-sale leasing solutions*, and we’re in the business of expanding options for shoppers and sellers alike. Learn how it works, and open the door to new customers with Acima today.
Common Questions From Retailers
What is an add-on sale in retail?
An add-on sale is an item that complements your main product and helps increase the overall sale of a consumer. For instance, ice cream shops may offer hot fudge as an upgrade when you get an ice cream cone.
How can you attract customers to an online store?
Search engine marketing is a great way to drive traffic to your online store. You can also use social media platforms, such as Facebook and Twitter, to promote your business. Additionally, make sure that your website is easy to navigate and that all of your contact information is easily accessible.
How do you build a sales strategy?
Your sales strategy should be based on your goals, the products you are selling and your target market. You should also consider how you can adjust your strategy for more sales, how you can improve the customer experience, how you can offer discounts and how you can increase website traffic.
How can you attract new customers?
One way to attract new customers is by offering deals. You can also use social media platforms, such as Facebook and Twitter, to promote your brand. Additionally, you should be easy to find on search engines.