Merchandising Tips for Discount Stores
We’ve written about tips for online businesses and stores. Today we’ll be giving out tips on how you can grow your physical discount stores especially during this pandemic. It’s true that online businesses are booming right now, but let’s say that your location’s government unit isn’t very strict and you’re still allowed to operate. What adjustments are you going to make to your discount store? Here are some tips.
- Accept Online Payment Channels – online payment channels are a big help for physical stores right now. Technology advancement has been widely accepted not only in the United States but also in other developing countries. “In the U.S. market, there will be tremendous growth of mobile payments; eMarketer projects mobile payments will rise to $130.3 billion in 2020. Factors that fuel this growth include consumer acceptance, technology infrastructure and the continued growth of digital natives (the population aged 0 to 40, which has grown up using technology) as a vast amount of consumer purchasing.” said Forbes. You can try Apple Pay, PayPal, Google Pay, and others.
- Display Old Inventory in the front of your Store – this is a good way to quickly sell old items that has been sitting in your inventory for some time. Not only does this help you get rid of old items, but this lets visitors know that you’re still offering products of the same style that has been on trend before.
- Start a Newsletter – if your store already has a good number of loyal customers, newsletters are a great way to let your customers know what’s coming up. You can also let them know about promos, updates, and other information that are relevant in your business operations. Newsletters can also initiate a consistent flow of communication with your customers.
- Create appealing signage – if you’re getting your inventory from liquidation stores, chances are you have a lot of discounts and promos all throughout the year. Make sure that you use visually-appealing displays combined with clear text that promotes the promo or discount that you are offering.
- Offer “Impulse Items” near the store’s cashier – ever wonder why stores such as Forever21 and H&M has small trinkets and knick-knacks displayed near their counters? These are “impulse items” that are used in day to day activities. These items promote impulse buying and engages customers while waiting in line. You can display items such as accessories, cosmetics, nail polish, jewelry, and other smaller items.
- Implement Physical Distancing measures – this is for you and your customers’ peace of mind. Make sure to follow government advise and implement social distancing guides such as promoting a 6-feet distance between people inside the store. This is to reduce close contact with other people in order to help prevent the spread of the deadly virus. You can place visual cues like stickers and printed signs that educate visitors on how to practice social distancing.
Have any useful tips that you want to share? Drop them in the comments below!