Retail Observer

RETAILOBSERVER.COM DECEMBER 2019 54 H ave you ever asked yourself, "What value am I really providing my customers?" Keep in mind, value isn't only about price. Value, in your customers' eyes, might include the shopping experience, the interactions with the sales team or the add-on services you're offering. Many factors can impact how your customers perceive your store's value. Here are 12 suggestions for quickly adding value in today's fast- paced retail environment. • Make a Lasting First Impression — A consumer's first impression of your business might be your website, your store's exterior, their first steps through the door – or all of the above. The bottom line is that you need to keep it fresh, from inviting and appealing eye-catching displays, to keeping your website's homepage updated with the latest offers. • Pick the Right People — Despite technology's increasing role in our lives, retail remains a people business. Identifying, understanding and caring for your customers' needs is key to your long-term success. Staffing your store with people who appreciate the importance of their role will be a vital factor in your success, and theirs. • Create an In-Store Experience — Design your store to steer the customers to the right side of the entry. Studies show that most folks look first to left, then right when entering a store. Shoppers usually prefer to move right and walk counterclockwise around the store, so it's most effective to angle your aisles to the right, keeping them wide enough for the consumers to navigate. Create breaks and use end caps while keeping sight lines open. • Stay Open 24/7 — Your online store is open 24/7, and your customers are shopping at all hours of the day. With so much information at their fingertips, they have endless options. Research shows that consumers will visit multiple sites and look at product reviews, watch videos, and compare pricing in their decision-making process. And fully 85% of those shoppers will want to see pricing online before they make a purchase. If you aren't showing prices on your site, most consumers will simply assume your prices are too high, and they'll move on. • Promote Value — Don't chase your competition. Stay ahead of the game by being innovative, strategizing, communicating, having a mission and taking responsibility. Don't be afraid to let your customers know what makes you different from and better than your competitors. You may think your store speaks for itself, but there's no harm in preaching your value to the people who walk through the door. Tell them your story! • Be Ready for the Duress Shopper — Every hour of the day, consumers are dealing with broken dishwashers, washers and refrigerators that they can't live without. These shoppers make up the bulk of today's appliance customers, and they will very rarely wait for a special promotion. They have an urgent need that independent dealers are in a prime position to fill. • Offer Delivery — Today's independent retailers must operate in a world where free two-day shipping is the norm. It's why dealers must offer take-with, same-day or next-day delivery. You can charge accordingly, but the customer will expect the convenience, so this service needs to be front and center on your website and communicated as broadly as possible. • Create Add-on Sales Opportunities — Why not offer the busy consumers a one-stop shop? Make sure they have everything they need, from purchase through installation. For example, set up a water filter auto-ship program with each refrigeration purchase, and make sure the post-purchase process is as convenient and seamless as possible. • Embrace Technology — Nowadays, technology helps your customers make critical decisions, and it can smooth the process of shopping in your store. Digital price tags, live availability information, and portable data terminals can transform the customer's in-store experience and boost your business. • Adapt to Industry Changes — Instead of shying away from the changing dynamics of our industry, why not embrace them? Digital retailing is growing in exciting ways. Consumers have welcomed the shift, and the benefits that go along with it. Retailers would be smart to do likewise. • Set Goals — Keep the customer at the center of your business strategy. Have a customer service strategy that includes short- and long-term goals, and don't forget to revisit your goals, track your progress, and adjust as needed. • Be Memorable — What makes your location memorable? Don't overlook the small things that can make a difference – the smell of fresh-baked cookies, the aroma of fresh-brewed coffee. Do what you do with passion and the customers will notice. 12 TIPS TO ADD VALUE IN THE CHANGING RETAIL WORLD Missy Hodges Appliance Trends Missy Hodges, Vice President Appliance Merchandising Nationwide Marketing Group RO

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