Key Features of Successful Retail Sales

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A retail sale is when a company sells a product to an individual consumer for their own use. Wikipedia describes retail as an activity in which goods or services are sold directly to consumers or end users. Depending on the product, retailers can also offer their products to business customers. Retail sales transactions can be done through a variety of channels such as brick-and-mortar (physical store), online, storefront, direct sales, or dropship.

Retail is an extremely important activity in a society where consumers benefit from having access to a wide range of products and services. Retail stores also create a place, time, and choice of choices with flexibility for consumers when they have a need. They help consumers by offering ready-to-eat goods in their respective stores or showrooms. Retailers, regardless of the size of the store, store goods by their own means to ensure customer convenience.

Retail also has a major impact on a country’s economy. Economies need vibrant retail, and retail plays a dominant role. Perhaps the most important economic function of retail is to create jobs where millions of people around the world and in Sri Lanka are directly or indirectly employed.

In addition to direct employees, the retail sector contributes to the economy through numerous manufacturers of merchandise, wholesalers, distributors and many other industry players.

Every retailer, big or small, wants to sell more in their retail stores. Without exception, they are looking for new ideas or strategies to increase sales volume. From the mega showroom to the roadside retailer, the most common ways you try to be creative. While a large retailer offers discounts, incentives or free gifts, a small retailer offers reduced prices or other innovative incentives to customers depending on the product.

A conscious understanding of how to sell in a retail store is the key skill any retailer should focus on. Retail sales techniques are an orderly process of developing the best possible connection between the buyer and the product through the right interaction.

Most importantly

The most important factor in retail is that the customer comes to their doorstep with a need. This means that 50% of the sales effort is completed successfully. The retail seller only needs to do the rest 50% with their skills. Hence, here are some simple ideas for improving retail sales in the store.

The famous saying “the first impression is the most lasting” is the most important thing in any sales situation, but even more so in retail. Currently, however, everyone, including sales staff, is wearing face masks due to health restrictions. But look carefully in the mirror.

Your friendly smile is clearly visible to the customer through your eyes and your greeting can be heard unmistakably. Therefore, with or without a mask, the best way to make a good first impression with a pleasant greeting is an extremely important first step.

Cross-selling or selling another product or service to a customer from the available product portfolio is a very powerful tool in retail to add value to a sale. Cross-selling skills leverage the customer’s intention to buy by presenting additional products. Therefore, training showroom staff in cross-selling and involving staff can increase sales.

However, when it comes to cross-selling, timing matters. The rush with the customer is deadly and putting it off carries the risk of losing the sale altogether. Most of the time, the best window opens when the customer commits to a purchase after the seller has spent some time with the customer. For example, when the customer buys an item of clothing, the salesperson can approach the customer to suggest suitable accessories.

In addition, the sales pitch for a new item should come after the customer has completely settled in with the first purchase and not immediately after making a purchase decision. Additionally, when the seller needs to consider the customer’s budget before promoting another item.

Value and benefit

An essential aspect of cross-selling is that the add-on must not only serve to increase the value of the existing sale. The item you propose must necessarily offer the customer value and benefit. The seller really has to believe that the add-on is a need of the customer.

Conveying a sense of urgency or scarcity is one method skillful salespeople practice with customers. “FOMO” or “fear of missing out” is a phenomenon triggered by a short squeeze that amplifies sudden purchases. Sales volume can be increased if this perception can be used in a timely and efficient manner by the sellers in a retail store. Limited time offers and “Today Only” promotions near cash registers are some examples.

Awareness initiatives are extremely effective ways of attracting customers and getting them to buy from a retail store. Teaching a customer something new by any means available in the store not only strengthens customer loyalty, but also helps the business build authority with visiting customers. This is the reason for some of the best retail chains in the world and Sri Lanka to constantly organize product demonstrations, product tests and useful shopping guidelines for customers.

Upselling is another technique used by sellers in retail stores by offering a more expensive version of the same product. The upsell proposal needs to be carefully conveyed after subtly getting an idea of ​​the client’s budget. A customer on a budget may feel offended when a more expensive alternative is boldly presented. Just like the cross-selling approach, this technology must also be presented to the customer in a timely manner.

According to Wikipedia, “clientling” is a technique used by retail workers to build long-term relationships with important customers based on data about their preferences, behaviors, and purchases. The practice involves recording each customer’s purchase history. This helps the retailer to stay in contact with the customer over a long period of time and to encourage them to make repeat purchases.

This technology not only binds customers in the long term, but also builds unbreakable trust. The method is also used successfully by numerous retailers in Sri Lanka. Keeping communication channels open to customers and maintaining constant contact with welcome messages, newsletters, new product launches, promotions, and competitions is a surefire way to retain a customer.

Customer service

Repeat purchases are the key to success in retail. Hence, customer service is an incredibly important part of the retail business. It is also one of the most important elements for differentiating aspects of the currently highly competitive retail market. Every retailer, from a large retail chain to a small neighborhood store, is focused on providing the customer with an enjoyable and comfortable shopping experience.

As is well known, the speed, courtesy and friendliness of the staff are an essential part of customer service. In addition, the knowledge of the product, the language, the ability to overcome objections and the undivided attention are also integral parts of the service excellence that must be lived by all employees on the front line. Even the average customer will notice these behavior patterns when visiting a store. These aspects form the customer’s perception of the business.

A retail sale is an unpredictable action that should be carried out by trained personnel. The aim is to sell everyone who walks into a store. A customer visits a retail store with the definitive intention of buying a product or service and not taking advantage of the 50% pre-sale is a waste. Even if a single customer drops out due to inefficiency or negligence of the staff, the cost to the merchant can be immense since the core intention in retail is to make repeat purchases.


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