New Year’s Resolutions for Your Retail Store in 2020

//New Year’s Resolutions for Your Retail Store in 2020

With the new year right around the corner, it’s time to start thinking about ways to improve your retail store’s reputation and grow your business. Here are some things to consider doing for your retail store in 2020.

new retail location real estate

Rearrange Your Store

Has your store had the same layout ever since its grand opening? It’s time to consider switching things up. There are numerous floor plans that you can use to arrange your merchandise and both pleasantly surprise your customers and increase sales. Something that you need to consider when deciding on a new floor plan is where you are “leading your customers”. Make sure you’re intentionally leading them to the merchandise you want them to initially see and consider purchasing.

Plan Holiday Deals

Everyone loves a good sale. Sales events build rapport with customers and establishing a good rapport will encourage others to be invested in and trusting of your brand – especially when a sale is associated with a holiday. Even though the current holiday season is here, you can still plan events around other holidays throughout the year.

To have a good holiday sale, in-store event, or promotion, you must plan them far out in advance. Create a to-do list at least a month in advance and make sure you appropriately market your holiday sales event. Some ways you can accomplish this are by:

– Sending email invitations
– Creating a Facebook event page
– Putting out banners in front of your store
– Leaving flyers at neighboring stores (with their permission)

Get More Involved with the Community

Strengthening your relationship with your community is extremely beneficial for retail store owners. Not only do you have the chance to get to know your customers, but you can also thank them by doing something that benefits their community. Getting involved isn’t limited to volunteer work, you can also:

– Teach complimentary classes
– Sponsor an event
– Join a parade
– Throw a party
– Donate to a local charity

Relocate to the Perfect Space

If your retail store is located in an area with low foot traffic, any of your efforts to increase sales may be in vain. If you’ve outgrown the space you’re currently in, want more foot traffic, or lower overhead costs, consider relocating your business. Even though this decision isn’t something to be taken lightly, relocating can benefit your business in ways that are just not possible in its current location.

Find the Perfect Location for Your Business in 2020

If you’re ready to relocate or are looking for retail leasing in Seaford, DE, look no further than Tomarchio Enterprises. We make sure that you get the best location for your business so that you can grow and thrive in your market. Contact our team of experienced and respected brokers to see what more we can do for you and your business.

By | 2019-12-05T19:38:19+00:00 December 5th, 2019|Commercial Real Estate|Comments Off on New Year’s Resolutions for Your Retail Store in 2020