The high street has gone through a rough time during the past few years, especially as the recession has led to a large percentage of the UK having less disposable income. Add to this the fact that internet shopping has also grown in popularity and you can see why many shop owners are concerned for the future. However, with a bit of business knowledge and some hard work your shop can thrive even during these difficult times. It’s just about knowing how to retain your current customers and attract new ones…

Be Unique

One way to ensure that your shop will remain in business is to offer something that no-one else does. For example, even though some people do most of their shopping online they don’t get to physically inspect products before they buy, meaning that their shopping experience is more practical than fun. In contrast, you can make shopping exciting for your customers by making sure your shop displays are eye-catching and different to those of your competitors. Create a wall display out of your products, add some bright coloured table cloths, or group products together that you think will complement each other. It’s all about making the most out of what you have!

Specialise in Customer Service

In this day and age most people are extremely busy which means that in some shops customer service can fall by the wayside. In order to improve the first thing you need to do is talk to your staff and see if there is something that is preventing them from providing the best customer service. Working with your staff is a great way to not only improve your business but also the shopping experience for your customers – remember, a happy staff is a helpful staff! You also need to make sure that you set an example by providing great customer service on a constant basis. As the owner you are the most responsible when it comes to customer service.

Keep an Eye on your Finances

Even if your business is doing well right now you should still make sure that you have a contingency plan for the future which means making sure that you have all your finances under control. If you own a shop you will undoubtedly find that paperwork can often pile up as you will require information concerning your lease, shop insurance, licence, and employee contracts. All these pieces of information are extremely important which is why it’s essential that you have them organised and can easily gain access to them as and when needs be. If you are struggling to stay on top of your finances then it may be an idea to hire an accountant who will not only be able to fill out your paperwork but also advise you if there are any parts of your business where you can save money.

Get to Know the Neighbours

Your shop will probably have some sort of competition in the local area, however that doesn’t mean that you can’t benefit from getting to know your competitors as well as other shop owners. Knowing other shop owners will allow you to gain more information on the state of the retail sector in the area and help you all come up with ideas on how to improve it in the future. Having a good relationship with other shop owners will also come in handy if you experience issues such as frequent thefts or break-ins. You could also think of ways to reach out to the community as a group and encourage them to shop at your establishments instead of large chain stores.

Even during difficult times protecting your shop from the future can be achieved by making the most out of your business and reaching out to customers in any way possible. This may not always be easy, however the more you try the easier it will become. Just remember that there are always opportunities to improve and adapt your business to the changing times.