7 Actionable Steps to Improve Your Retail Store Sales
This month marks my second year of owning and managing a neighborhood retail store of household staples; commonly known as Sari-sari Store. By God’s grace, we did not only survive, but we are thriving. Our product inventory quadrupled since we first started.
It’s still a small business but it has been one of the main sources of our family’s income. If you are planning to start a retail store or you are new to the business, the strategies below will help increase your sales.
1. Introduce one new product every week.
One of the core needs of people is certainty. That is why as individuals, routines are essential. Businesses need to consider this need by being consistent and providing what customers expect.
As much as we need things to be constant, we also need the opposite, novelty. Introducing a new product every week will fulfill this need of your customers. I can attest that this works because every time I display a new product, it almost always becomes the fastest-moving item in the first few days.
Don’t overstock on a new item though, since you’re not sure if it would click. Buy a few and adjust your next purchase based on their performance.
