Success in the retail industry depends on a lot moving parts. Location, business model, and inventory selection are just a few components of what really drives a successful retail venture. No one would argue that these economic times are some of the most challenging on record and that business has to change to meet these new challenges. If you have a retail space in the up and coming Baldwin Park locale, consider yourself lucky to have found a great location! But, location by itself will not necessarily bring in repeat customers. The way you design your store in that great location will have a lasting impact on your long-term business success.
Many times during the start up phases, business owners do not plan out how much product they need to sell in order to cover their operating costs. Breakeven points and profit management are important factors in making sure your store runs on a daily basis and your customers are satisfied. One part of store design is deciding how much inventory you will need on a regular or rotating basis. Few things bother customers more than product stock outs and planning out inventory turns will help you sell more of what people want.
Lighting is another important factor in store design. Selecting the proper lighting that includes energy efficiency and strategic placement is essential to how attractive your product will present. Every product, no matter what it is, has its own, unique flattering type of presentation and cheap lighting will not make your product look good. It can be dramatic or understated. But the result needs to be the same: sales.
To their detriment, many retailers do not pay much attention to checkout. Checkout design should be carefully considered, and owners should ensure it does not become too cluttered. A clean, presentable checkout area stocked neatly with last minute purchase items will make your customer’s purchase experience a good one and keep them coming back!
In these uncertain times, retailers need to leverage all of the tools available to make their store a successful business venture and store design is a key part of that plan.