Consider key factors of foot traffic, product mix and customer experience 

As you look forward to the coming year, are you left wondering something like this? “Will I be able to survive another year in the brutal retail environment when online retailers seem to have all the fun with no end to programs and service offerings?” These programs and services have been threatening traditional brick-and-mortar stores for years—and they will be a challenge in the coming year as well.

As you make plans for the coming year, here are three things to ask yourself every day:

• ?What generates foot traffic in my store and draws people in?
• ?Do I carry the right product mix?  
• ?Am I creating a customer experience that motivates shoppers to spend money in my store rather than elsewhere?

 ATTRACT CUSTOMERS

Facing the year ahead, one of the primary questions every retailer should ask is: How do I attract more customers to my store? This is probably the biggest challenge retailers are facing with the growth of online shopping in the past decade. 

Think of expanding your reach beyond walk-in customers. Invite customers in through new approaches. Consider hosting in-store events on a regular basis. Invite churches to have a prayer breakfast or Bible study in your store, then offer everyone who attends a 10% coupon valid for that day.  

If space is an issue, network with local churches. Try to become the service provider for all their curriculum and VBS needs. Your target audience is church-goers, but they need a compelling reason to shop at your store. 

Take a fresh look at your store. Is it inviting? Is it the kind of environment shoppers are drawn to because of the attention your staff gives to merchandising, store layout and design? Think of the places you like to shop. Why do you choose to shop at some stores rather than others? Is your store the kind of place people talk about in your community because of its appeal, great product selection and friendly staff? Or is it the kind of place people avoid because your display windows are drab, fixtures and interiors are worn  and friendly staff is nowhere to be found? 

When visiting a Christian retail store recently, I noticed  that the store name on the sign outside was faded. If the owners didn’t care enough to fix the sign that every potential customer sees, I wonder what kind of first impression that makes and what the store looked like inside.

A steady decrease in foot traffic always precedes the closure of any retail establishment. Many of the stores that have closed through the years lacked the necessary “curb appeal.” Pay close attention to details of how your store appears to a customer and how products are merchandised. Make sure that the floors and bathrooms are always clean. Ensure that shelves and displays are given adequate attention so that customers can easily find product.

If you have a display window, make good use of the space and always keep it fresh and updated. Seasonal displays are always appealing. Tying into community events or fundraisers will personalize your store and might allow you to present items representing that theme. No one likes to stand in front of a display window that has nothing eye-catching in it or visit a store where they see outdated, faded product.

When it comes to carrying the types of product that bring in customers, consider carrying more gift products. We live in a digital age and it can be tough to compete with that. But as of now, no one has figured out how to download those gift items your customers are looking for. 

ADAPT INVENTORY

This brings us to the second question: What should my product mix be?

One of the comments I often hear from Christian retailers is that Bibles, gifts and church supplies are category leaders. If this is the case, then it is important to allocate the amount of shelf space proportionate to dollars sold. This may seem fairly obvious, but it can be surprising how many retailers are not always cognizant of the importance of shelf space allocation and profit maximization. One strategy supermarkets use is to showcase the most profitable items at consumers’ eye level. Studies have shown that the number of items consumers picked up that were placed at eye level surpassed those that were at floor or waist level. 

Revisit your product category loss and profit leaders. Be ready and willing to adapt your inventory accordingly.

Also be particularly attentive to what customers are looking and asking for. Make note of the number of times you are out of stock of different products. Do you often have to special-order items that might need to be a part of your core inventory?

 If you find at the beginning of the new year you are overstocked in certain categories, either return the product or reduce the price and clear it out. The worst thing you can do as a retailer is hang on to inventory that has been in your store for months in hopes that it will one day sell. Inventory turns are critical to your survival. The most successful retailers in the world have this down to a fine art. If a customer asks for something you don’t have, offer to special-order it and have it drop shipped directly to their house. Be prepared to match Amazon’s price to keep the sale. Doing this keeps the customer coming back.

 AWAKEN EMOTION

As for the third question to constantly keep in mind: Am I creating a customer experience that will keep customers coming back to my store again and again? Think about what customers will say to their friends, colleagues and family after they leave your store. Developmental molecular biologist John Medina once said: “The brain remembers the emotional components of an experience better than any other aspect.”

What kind of emotional experience are your customers left with when they leave your store? Are they feeling satisfied that qualified and helpful staff served them well? Word-of-mouth is one of the most important ways to attract new customers to your location. Satisfied customers will brag on you and invite others to come to your store.

As Christian retailers, you sell life-changing product with eternal value. Every single customer experience has the potential to be a “wow” moment. To quote Carmine Gallo from his book The Apple Experience:  “Create a magical customer experience that enriches people lives. Just make it great—insanely great!”