5 Tips to Help Retailers Stay Abreast
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5 Tips to Help Retailers Stay Abreast

By Retail CIO Outlook | Friday, February 07, 2020

E-commerce platforms offer all kinds of products anywhere, anytime. The only thing left for traditional retail stores is the human experience. Customers are looking for that little extra effort that makes their shopping experience a better one

FREMONT, CA: Technology is transforming the way business is conducted, more than ever. New and disruptive technologies provide solutions for problems that were once considered unsolvable. And this change is not restricted to a few sectors. The retail industry is transforming as you read this, and businessmen need to rapidly adopt emerging technologies to stay in business. The digital age is upon us, and the best option for brick and mortar retailers to remain in business is to go digital. e-Commerce has grown significantly in the last decade. Staying relevant in the digital age can be challenging and requires a lot of fundamental changes.

Here are five tips that can help traditional retailers survive in these changing times.

Change is the Only Constant

Customers leverage the online medium to find all kinds of details on what products they want. Staying in stores and doing business, the traditional way is nearly impossible. Customers no longer willingly walk into stores out of brand loyalty. Everybody wants value for money, and until the store has something lucrative to offer, customers are not going to walk in. The aim should be to reach out to people. Marketing is of utmost importance, and social media is the most viable medium. The costs involved are minimal, and it also has the best reach. Social Media platforms such as Instagram and Facebook can be leveraged to optimize the business and increase profitability.

Find your Niche

Forget what others are doing and focus on creating a unique brand identity. Create an image for the brand that best highlights the principles at the core. Find your own voice, and make sure it is heard. Select merchandise based on your style, build a rapport with your niche audience and adopt a one to one approach with customers. Help customers pick products based on individual tastes and preferences.

Let your Brand Reflect your Style

Who are you? What is your core purpose? What is your style? Who do you admire? Make sure to ask these questions before developing a specific method for your brand. Asking these questions helps create an identity chart. This chart should be applied across various aspects of the business, like window displays, business cards, and shopping bags. Ensure that the brand is distinguishable in a crowd. Associating the brand with a particular color helps. All the successful brands have a color that customers can associate with.

Think in Terms of Concepts

E-commerce platforms offer all kinds of products anywhere, anytime. The only thing left for traditional retail stores is the human experience. Customers are looking for that little extra effort that makes their shopping experience a better one. Do not try just to sell a product. Instead, try to market concepts, with an extra human touch. Get in touch with your customers and find out what their preferences are. Conduct in-store polls and identify what is trending and what is not.

Instagram is a Friend, Not a Foe

Instagram is emerging as the new marketplace. Users like the concepts of images and short videos and retailers should look to leverage this to expand their business. Establish a digital presence for your store, geotag your store and let the customers click pictures. Make your Instagram handle known to your customers and let them share your products. Also, create content which showcases your customers. Use the 'shop window' feature for marketing your products on Instagram.

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