In thinking about how shoppers see your shop there are five areas where you control the dialogue: the prices that you charge; the quality of the products that you sell; the quality of the service you will provide; the depth of range and availability that you will provide; and the atmosphere of the shop. All are levers that an independent retailer can use to engage the loyalty of shoppers. In thinking about which are the most important for your shop, you need to think about who your key customers are; the 20% who generate 80% of the profits (note I say profits and not sales). What are they looking for and how do you match your offer to meet their interests? For example, if you have children buying trading cards, how do you make this a great buying experience for them? What other products with high margins will appeal to them? Would you put up a poster in store with a countdown to the launch of a new collection? Would you set up an in-store event so that children could swap cards with each other?
We are launching the 2009 Independent Achievers Academy tomorrow in London with a group of retailers and suppliers. The marketing team have come up with a great practical exercise to help us relive the Academy experience. At its heart, the IAA has a simple concept: set a goal, plan to hit it and celebrate the outcome. I hope to learn lots from participants and will pass this learning on to you.
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