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Retail 2020 and beyond…

Retail 2020 and beyond…

The world of retailing is going through massive change at an uncomfortable pace for many. Online, mobile and the use of data have changed the playing field and retailers need to adopt new methods to remain in business and competitive. Coming through lockdown will have asked questions of many and now is the time to consolidate with a strong close to this year and the start of 2021. 

But what should you be focusing on? 

in what areas should you be placing more energy and maybe even spending more money?

There are many tools and strategies that retailers can use:

  • Stay in touch with customers – have you communicated at all with your customer base during the pandemic?
  • Do they know that you’re open again?
  • How easy have you made it for past customers to do more business with you?
  • Deliver better service – surprisingly it’s not all about price. If you deliver first-class customer service and show you care then you will create loyalty from them. And it’s easier and cheaper to sell to an existing customer than it is to find a new one!
  • Increase profits – there is still money out there, in fact, some people have more disposable income now than they have ever had. A small increase, especially if you have not had an increase in the last twelve months.
  • Provide an all-round retail experience – what can you add that makes it worthwhile visiting your premises or online shop?

Let’s be clear, bricks and mortar retailing is still alive and kicking, albeit, a little challenging. The numbers within your business will tell you where to concentrate your efforts, you just need to focus on the right numbers.

If you need a little help with determining which are your key numbers, and how to monitor them easily and efficiently then Just ping me an email mikeglynn@mgretailconsulting.co.uk or visit emssystem.co.uk/mikeg.


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