As a busy independent retailer, you’ll understand how competitive retail has become. Ecommerce giants have disrupted the market and technology is changing the way people shop.
According to market and consumer data provider, Statista up to 87% of UK households made online purchases in 2020 – the highest rate in the past 11 years. The swell of activity is testament to how the internet is now the driving force behind shopping intention.
As an independent retailer, you’ll appreciate how difficult it can be to acquire new customers. Running promotional campaigns to attract them to your store can be expensive, let alone the time and effort they involve. And, even when you do acquire them, there’s no guarantee they won’t just be one-off shoppers.
Disappointed customers are not good for business. When they can’t buy what they want from you because you don’t have it in stock or they don’t know when it will be available, they lose faith and shop elsewhere. That’s why it’s so important to be on top of your inventory so you never miss that sales opportunity.
Customers nowadays want – and expect – to have access your products any time day or night. They don’t want to be restricted by opening times, the availability of an item or difficulty getting hold of it.
Customers who buy from you time after time is every retailer’s dream, but getting them to do it is a tough call. While some customers will be loyal to you, others can be more price driven or choose to shop wherever they can get their items from in the shortest amount of time.
Supplier product data can vary wildly and changes continuously. There’s no uniform layout and information and images can often be missing.
Juggling the day-to-day commitments of running a business whilst maintaining a work/life balance can be tricky.
People used to talk about two distinct types of shopping; online or in-store. Internet retailers and bricks and mortar retailers were judged to be two separate sides of retail, competing for the same customers.
Whether you’ve been rushed off your feet with unexpected demand, managing with reduced staff or looking for different ways to engage your customers, there are lots of challenges for independent retailers right now… and it’s not like there was a load of spare time to begin with!