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Something Different
Listed under: Retail Clinic
Published: Friday, August 24, 2007
Matt Stringer, European education sales manager for Ellison, a die-cutting and embossing systems manufacturer, shares tips on making your business stand out from the crowd
Look in-house
In today’s retail environment and ever-increasingly competitive craft market, stores live and die by the ideas that are generated within them. It's key to come up with ideas to keep customers loyal and to be the all important light in the area where new crafters, as a moth to light, will travel, often past other craft stores, to come to sample the many resources you have to offer them. The secret behind many successful and long trading hobby craft stores isn’t just good product choice, it’s also about the golden word in retail: differentiation. Differentiation is the ingredient that will make customers travel that extra mile and make that extra excuse to their partner that allows them another visit to your store. Some of the best examples of this come from retailers who look in-house and fully tune in to what their customers actually want; they haven’t searched for differentiation in new technologies or strived to have that ‘new something’ that no other retail has got. That can gain the greatest results.
Talk to customers
Try finding out what products keep them coming back time and time again, as well as what is coming out to the market that is causing a buzz. You’ll soon start to see a trend in product categories that do this - most probably die-cutting, albums, adhesives and papers. Once you have your market information, do your research and establish key suppliers in each of the fields you have identified and work with them to help you in your quest for differentiation.
Use your suppliers wisely
You’ll be surprised how many retailers overlook the basics. Deciding on a firm sales and marketing plan you will be able to invest in stocking a good range of those core products that are of interest to your customer. When you have made a commitment to those manufactures and suppliers, work with them on developing a support plan for your store set against sales targets for their brands. You could also organise in-store demonstrations, open days or product launches.
Keep it up
The final string in the bow of a good committed relationship with your key suppliers in store is the ability to use your partnership with them to establish yourself as high priority on their customer list for product sales, bundles, new product launches, special sales and extra discount opportunities. By having a committed partnership with your key suppliers it allows you to offer the best products at the very best prices, savings can be passed onto the customer, or retained by you as extra margins. The customer won't mind this if the care they have received and information given to them when making their purchasing decisions was first class.
In today’s retail environment and ever-increasingly competitive craft market, stores live and die by the ideas that are generated within them. It's key to come up with ideas to keep customers loyal and to be the all important light in the area where new crafters, as a moth to light, will travel, often past other craft stores, to come to sample the many resources you have to offer them. The secret behind many successful and long trading hobby craft stores isn’t just good product choice, it’s also about the golden word in retail: differentiation. Differentiation is the ingredient that will make customers travel that extra mile and make that extra excuse to their partner that allows them another visit to your store. Some of the best examples of this come from retailers who look in-house and fully tune in to what their customers actually want; they haven’t searched for differentiation in new technologies or strived to have that ‘new something’ that no other retail has got. That can gain the greatest results.
Talk to customers
Try finding out what products keep them coming back time and time again, as well as what is coming out to the market that is causing a buzz. You’ll soon start to see a trend in product categories that do this - most probably die-cutting, albums, adhesives and papers. Once you have your market information, do your research and establish key suppliers in each of the fields you have identified and work with them to help you in your quest for differentiation.
Use your suppliers wisely
You’ll be surprised how many retailers overlook the basics. Deciding on a firm sales and marketing plan you will be able to invest in stocking a good range of those core products that are of interest to your customer. When you have made a commitment to those manufactures and suppliers, work with them on developing a support plan for your store set against sales targets for their brands. You could also organise in-store demonstrations, open days or product launches.
Keep it up
The final string in the bow of a good committed relationship with your key suppliers in store is the ability to use your partnership with them to establish yourself as high priority on their customer list for product sales, bundles, new product launches, special sales and extra discount opportunities. By having a committed partnership with your key suppliers it allows you to offer the best products at the very best prices, savings can be passed onto the customer, or retained by you as extra margins. The customer won't mind this if the care they have received and information given to them when making their purchasing decisions was first class.
