7 Workable Tips for Retailers to Increase Profits During the Post-COVID-19 Era(2021)

I think you will agree with me when I say:

It’s really hard to run brick and mortar store because of COVID-19.

Well, you can use the below tips to boost your sales and get more profit.

Let’s dive right in.

confused of retail store
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    TIP #1 Integrate your online and offline business

    brick and-mortar store

    For retailers, it’s very important to link their in-stores and online shops together. The customers will have both online convenience and offline real experience.

    It’s a secret to remain stable sales for retailers in the future.

    With that, here are the tips:

    #1.1 Build your online store

    You can use Shopify.

    It is much easier to build an online store and selling products.

    With the powerful website and payment system from Shopify, you just need to upload products and pay some transaction fee, easy to go.

    shopify1

    Or WordPress 

    Without touching a single code, you can use some popular WordPress themes and import the template pages easily, together with the WooCommerce plugin, you’ll get a nice and functional online store.

    wordpress

    #1.2 Find the target consumers and top-selling products.

    By purchasing the paid industrial report from a professional consulting company, find who are your target consumers.

    Then analyze what they have in common.

    blank

    And you will get what products & services are the most popular.

    #1.3 Establish an offline experience store

    Through online data and customer portraits, you can find more accurate store locations. And in the experience store, customers can touch your products and feel the services.

    If you want to engage more meaningfully with customers, to be an experience hub, rather than a simple point of sale.

    jewelry store display showcase

    #1.4 Promote your online and offline together.

    For example, put physical store pictures or videos on the online store.

    This will encourage customers to experience your products, service and increase their buying confidence.

    Here is a real example of jewelry retail store OMEGA.

    jewelry store showcase

    And in physical store, the customers can follow your online store by code or or APP.

    retail store QR code

    Why we say both online and offline stores are important.

    Take apparel shopping for example.

    You can see the below graph, most of the customers will buy clothes via online+offline.

    online&offline retail store data

    TIP #2 Control costs and keep a healthy cash flow

    retail store cost 3

    As we know, controlling costs equals increased profits. And a healthy cash flow is the most basic guarantee for brick and mortar stores.

    I’d like to share some ways :

    #2.1 Withdraw funds. Selling unpopular products in stock by discount to withdraw funds.

    #2.2 Reduce product variety and make sure the right products and in-demand items are in the store.

    # 2.3 Funds support. Pay attention to the government’s support policies, and contact banks and related departments actively. You will get more money support.

    TIP #3 Using social media to connect with your customers

    social_media8

    The COVID-19 is not over, we can’t just wait.

    But do everything we could to bring in sales.

    This is what you do:

    # 3.1 Live streams by YouTube Studio

    And post the live streams by website, email, and other social media.

    In this way, you will keep in touch with the current customers and attract new ones.

    Take a real example, a jewelry store owner, Moriartys started live streams by Youtube studio.

    jewelry retail store video

    Jeff Moriarty said the live streams have generated a ton of sales.

    He said people need rings to engage and married.

    And also other jewelry to mark some important occasions.

    # 3.2 Advertising on Facebook or Linkedin

    Facebook Ads

    jewelry store ads facebook

    Linkedin Ads

    jewelry store linked in ads

    # 3.3 Training your staff in virtual selling

    Your staff should know how to make an online appointment, how to show the products and service to customers without face to face.

    3 tips for you    

    • Make a creative visual, audio, content, video. Also screen shares, e-collaboration, virtual whiteboards, customized Email, etc.
    • Enhance the connection with buyers by customized and personalized service.
    • Keep a balance between fun and professional, natural body language, and dress up as usual.

    # 3.4 One-one Video Chats

    You can use Zoom

    zoom

    or Hangouts

    hangouts

    Now it’s necessary to allow customers to book a virtual appointment by a sales associate, and take them on a boutique video tour. Then create a shopping list and purchase items.

    Burberry and MAC already took one-one video selling.

    retail store video

    One-one video selling is particularly workable in fashion and luxury lines, such as jewelry and cosmetics. People want to have personal chats before making high-ticket purchases.

    TIP #4 Stable Supply Chain

    retail store supply chain2

    # 4.1 Keep enough High-Demand Goods

    Many factories were shut down due to COVID-19, production capacity has been curbed.

    The goods supply will be tight when the situation recovers.

    So store owners should negotiate with suppliers for the supply of goods for the second half of the year.

    We must make sure we have enough best-selling goods.

    # 4.2 Contactless Delivery

    retail store delivery

    Use contact-less distribution services with logistics partners.

    Due to the COVID-19,  “contactless delivery” is no longer a convenience but a necessity.

    How it works:

    • Order preparation. Orders must be prepared in a contact-free environment. The paper and process should be digitized to reduce physical contact.
    • Notifying customers of arrival by SMS, email, or phone.
    • Contactless Pickups via curbside pickup, Out-of-the-door delivery, and smart locker delivery
    • Managing proof of delivery digitally
    • Sanitizing the premises regularly and ensuring that the staff working at these places are healthy.

    TIP #5 Hygiene and safety shopping environment

    In stores, we should take some visible safety and hygiene measures for staff and customers.

    What shall we do?

    # 5.1 Contact-less payment.

    Such as Apple Pay

    retail store apple pay

    It’s necessary to have an integrated POS system across your online and offline stores.

    retail store POS system

    # 5.2 Keeping customers safe in store

    We should offer a safe and secure shopping environment for our customers.

    With that, here are some tips

    • Daily store deep cleans: clean entrances, doors, handles, display showcase and disinfected with alcohol.

    • Store staff face masks, hand sanitizing. Provide hand sanitizers for both staff and customers.

    • Keep social distance. Control the number of customers in a time period to reduce the crowd。  

    • Sanitizing the premises regularly and ensuring that the staff working at these places are healthy.
    safe jewelry retail store
    • Install plexiglass barriers between staff and customers.

    retail store plexiglass barriers

    TIP #6 Sell your products on other channels

    such as EBay

    ebay

    or Amazon

    Amazon

    It could boost your sales while increasing your brand visibility.   

    Here is the growth of Amazon

    Growth-of-Amazon

    And the GMV of EBay

    ebay-GMV

    TIP #7 opening a new Brick and Mortar Store

    opening a new Brick and Mortar Store

    As governments work to control the epidemic and popularization of vaccines.

    I believe the world will open up later this year. Looking forward to our early return to normal life.

    The pent-up buying demand will be released again, retail will increase and rebound. I hope all retailers will catch the new opportunity.

    Currently, it’s easier to plan for a new physical store; As it takes generally at least 2 months for a new store design and decoration, get well ready to seize the market once the epidemic is over.

    # 7.1 Find a good store location

    What is a good store location?

    retail store location
    • Fitable store space. Think about your business model and calculate the approximate store area you need.
    • Near your target customers. Find who are you target customers. Care about theirs’ average age, income and their shopping habit. And make sure the location near them.
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    • Good transport facilities. Your customers can take the metro, bus, or streetcar to your store easily. It’s also important to have enough parking space(It should have 5 to 8 parking spaces per 1,000 square feet of retail space).
    • Competition and neighbors. The neighbors may hurt or help your retail business. Complementary, but not competing businesses are perfect neighbors.
    • Good visibility. The customers can find your goods and services quickly.

    # 7.2 Store design and custom display showcase

    To drive sales and bring people to your store, in particular, consider investing in the store design, custom display showcases, and making your store stands out. 

    I’d like to show you the detailed steps, let’s take a jewelry store showcase project we made as an example:

    Store layout

    jewelry store layout

    3D rendering

    3D rendering of retail store_ujoydisplay

    Technical drawing

    jewelry store technical drawing

    Workshop Production

    blank

    Real shot photos

    finished jewelry store showcase_ujoyodisplay
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    finished jewelry store showcase 3_ujoyodisplay

    Now it's your turn

    I hope you enjoyed this post with 7 tips. 

    Now I’d like to hear from you:

    Which tip from today’s post are you going to try first?

    Are you going to build a brick-and-mortar store or online shop?

    Or you may have better ideas.

    Either way, let me know by leaving a comment below right now.

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