Articles

Thank you, Phillip M. Perry, for publishing a very positive "Retail Forecast 2011" in Aqua Magazine. If you haven't had a chance to read the article yet, check it out at  

http://aquamagazine.com/articles/article.aspx?articleid=2004&zoneid=21
 
I love it when the voice of our industry is shouting out positive numbers and headlines like "Economic recovery brings opportunities." I am DONE with doom and gloom, and I know you are too. It's time to move onwards and upwards.

According to the article, Retailers in almost every industry are expected to rebound with a projected 4.2% increase in sales. Reportedly, the "most important concern, though, is the low level of consumer confidence."

Well then, it seems to me that it is up to the Authority figures (Manufacturers, Retailers, Trade Magazines, etc) to ensure confidence is high and unchallenged. Admittedly, this may sound like something of a challenge, but luxury is always something people dream about and, if you can make your customer believe that luxury is attainable, they will love you for it. 

So, how can you increase consumer confidence in your business? There are a few DOs and DON'Ts that might help out:

DO give the impression that you are ready for business. When your customers come into your store, they need to see full shelves and smiling staff. Of course you have inventory concerns and staffing budgets, but you need to give the appearance that you expect business and are ready to provide for anything that may be requested.

Appearance is not always fact, but it goes a long way in comforting your customer. If you are restricting your inventory, make sure that all the product you have is at the front of your shelves and hangers, and not pushed all the way back leaving the space looking open and deserted. If you are short-staffed, make sure the few employees working are ready to greet customers as they come in, rather than playing around at the test station in the back. 

DO NOT give the impression that your business is struggling. Consumers are like wild animals, they can smell fear and will attack. You don't need to compromise your margins, but if a customer thinks they can push you against a wall because YOU need THEIR business, they will try. They can also smell desperation, and are likely to turn tail and run if they catch a whiff in your store.

DO promote your business. You don't have to spend a lot of money if you don't have it, but you do need to make sure that your customer base knows you are ready and waiting for their patronage. The more you can "show yourself," the more likely you are to have a full store. Rather than spending hundreds of dollars on expensive signage or advertisements, buy yourself a book on Guerrilla Marketing and find some cost effective and fun ways to promote your business.(Merry Wise has some great PR tips in a following article, which starts on page 20 of the issue. A digital copy can be found here:  http://www.aquamagazine.com/digitalissue/0211/)

DO NOT shy away from trying something new. This is a chance for new beginnings, and it is time you embraced change. Try out some new products, bring in some new display ideas, take a chance on a crazy marketing technique. Show off a bit. Get a little outrageous. Call attention to yourself. 

Give the consumer an undeniable reason to buy and they will buy. Create the impression that what you are offering is imperative to a happy, stress-free and well-rounded existence. Consumer confidence starts with you--if you don't have confidence in your business, why should they?