What we don’t read enough about are the 62% of shoppers today who prefer to shop in-store rather than online, according to a recent Retail Dive Consumer Survey. http://bit.ly/2m8tMWG And that does not take into account customers who buy online AND in-store.
So why are so many retail chains doing poorly? The real answer: they lack common sense. Here are 10 reasons that prove it:
- How many retailers rather than invest in under-performing stores with remodels and technology just keep opening more stores? Does that make sense?
- How many retailers continue to cut staff at store level where it is needed most rather than find other ways to reduce expense such as lowering executive compensation? Does that make sense?
- How many stores have dirty floors and bathrooms with messy aisles along with missing items on the shelves? Does that make sense?
- How many retail chains don’t provide "effective" training at the store level and even though many methods exist, they rely on managers doing it which either doesn’t happen because of schedules and when it does it causes significant inconsistencies. Does that make sense?
- How many retail companies are more interested in buying a competitor regardless of the problems both companies have rather than improve their own business for long term growth? Does that make sense?
- How many retailers spend millions of dollars on advertising campaigns attempting to get customers in their stores, but when the shopper comes in the store there is no connection at all to the ad campaign and the in-store shopping experience, making the customer feel like they’re shopping at a different company? Does that make sense?
- How many retailers are more content chasing after competitors with price and product matching rather than focusing on being different and have their rivals trail them? Does that make sense?
- How many retailers are interested in selling out to a private equity firm, so the stock holders make a huge, quick profit, knowing most likely their company will go out of business in a few years because of all the debt the acquisition will create? Does that make sense?
- How many retailers still don’t look at the in-store shopper and the online shopper as the same customer and insist on “in-store only offers” and “online only promotional offers,” frustrating the customer? Does that make sense?
- How many retailers think that technology will solve all their problems rather than investing in a blended combination of smart technology and well-trained store associates? Does that make sense?
The bottom line is that retailers have many opportunities today to increase their store sales. All it takes is understanding that when you have a customer in your store, you have a chance to make a sale. Do what it takes, engage and “wow” that customer. Go back to the retail basics which are the product and the price, but most importantly, service. Be different and give that customer the type of attention they deserve. If you do that, the customer will not only buy from you, but they will also look forward to returning and tell their family and friends about you. It’s just a matter of using common sense!