It has recently been reported that shops which are currently faring well in the UK are those that offer their customers authenticity and an enjoyable shopping experience. Large stores such as Tesco and Marks and Spencer have been seeing a decline in business recently due to the fact that the middle classes are now looking elsewhere to purchase items that are of higher quality. Therefore, shop owners have been advised to revisit their business plans and look for new ways to attract customers, and here Nova Insurance provides you four top tips:

Focus on the Right Customers

Even if you are selling basic day to day necessities such as food or cosmetics it is wiser to advertise to customers that have money to spend. As the economy improves we are seeing customers spending more money, however at the same time they are still discerning as to what they spend their money on and where. Therefore, it is wise for shop owners to try to appeal to these people and convince them to spend their money on their products and in their stores. This can be achieved by researching your target demographic and competitors in your industry that are doing well. For instance, farmers markets and organic food shops are currently doing extremely well as customers move away from buying their produce from large supermarkets. These businesses offer their customers the best products available and pride themselves on being specialists in their industry, which is something you should do too.

Create an Atmosphere

Here at Nova Insurance we often state that it is important for shop owners to pay special attention to their premises as it can have a huge impact on the amount of business you see. These days customers want shopping to be enjoyable, so you need to make sure that your shop is somewhere that people love to go. This is a method that businesses such as hotels use, as they know that customers are more inclined to spend their money on a hotel which looks impressive and offers a number of services rather than one that simply provides a bed for the night. It is therefore essential for you to spend a substantial amount of time ensuring that your shop is always in good repair and is designed to attract and retain customers. When was the last time you changed the design of your shop or gave it a fresh coat of paint? If it’s been over a year then now is the time to give it a proper overhaul!

Be Exclusive

If there is one thing that people love it’s being part of something exclusive as it makes them feel both wanted and needed. Therefore you should ensure that your shop has an air of exclusivity about it and doesn’t just cater to everyone. This can be achieved by only selling a limited amount of stock or stock of a certain type, such as high quality footwear made from certain suppliers or gluten free food. By establishing yourself as the seller of a certain product you will likely see customers visiting due to word of mouth and your reputation in the industry. When these customers do visit make sure that you are able to talk about the products you sell in depth – by being an expert in everything you sell it is likely that you can convince your customers to purchase additional products or visit again in the future!

Love what you do

Regardless of whether you are a shoe addict, food lover or a collector of rare books, if you love what you do and what you sell it will show. This is why so many people set up pop-up shops or hire out market stalls in order to sell their products and get their foot in the door of the retail industry. You may think that in order to sell something you love you need a considerable amount of money, however this isn’t true. As long as you can afford necessities such as shop insurance, rent for a premises and a suitable amount of stock then you are good to go. What really makes a difference when it comes to being a shop owner is passion, so if you really feel passionate about something make sure you let it show to your customers!

Photo by Denisema4 / CC BY 2.0