In an economic system, there are a few recognised variables that influence demand and consumption. Practically speaking, you should never ignore the equ[...]
If you had to explain why you’re in the retail business, you’d likely come up with at least two reasons: to delight customers and make money. But how? You have many options available to you. Implement[...]
Let us ask you this: What do you think your customers expect from you when they enter your store? If you were to say it’s to find the right product at the right price, you’d be correct. However, you s[...]
It’s a widely-held belief that winning new customers costs you more than it does to keep existing ones. You’d only need to turn to Forrester Research to confirm it as fact. According to the market res[...]
There is the argument that says consumer behaviour is nothing more than the study of how people make decisions when buying a product. On one level that’s true. However, there is so much more to it. It[...]
If you want your retail business to be a success (and make you money), you should aim to do this one thing: please your customers. It’s that simple. Keeping your customers happy and satisfied can be a[...]
Living up to customer expectations can prove to be a heavy load for any retailer to bare. That truth hits harder when you consider the many different types of shoppers who shop at your store. They all[...]
No two customers that enter your stores are alike. That’s even if they’re looking for the same product. They could be buying it for two different reasons. Since everyone is different, that means they’[...]
One of the reasons retailers exist is to satisfy consumer demand. Shoppers need a product and if you’re the appropriate retailer, you need to supply it. Of course, that doesn’t mean that it’s simple t[...]
Good product knowledge. For any retailer, it’s the foundation on which your products are sold. Fail to spend enough time on learning about your products and you’ll struggle to sell them. There’s also [...]
Customer loyalty can be a tough nut to crack. That’s especially true when you consider the level of competition in the retail industry. With so many options, your customers can choose where they want [...]
