The retail industry is evolving and as a retail store owner, you may wonder what the rest of the year will have in store for you. Keeping up with the latest trends in the retail industry is important to keep consumers interested, and it is the only way to ensure that your business survives. Brian Tracy, author and self-development speaker says: “In a time of rapid change, standing still is the most dangerous course of action,” and this is truly relatable in the retail industry.
To help answer any questions you may have on how to better your retail store, how to attract more clientele and how to keep your employees motivated, here are the 5 major trends to watch in 2019:
- Investing more time in your workforce is top of the list
In 2019, overworking and underpaying your staff will not suffice. The retail industry’s employment landscape is adapting – the labour market is more competitive than ever; hiring is increasing and there are more individuals looking for jobs where they are valued.
This year, encouraging your staff to be more than salespeople and store administrators can be rewarding. Let your workforce evolve from being salespeople to consultants and experts in your store. Besides making sure that they are informed about the products you sell and the policies you have, offer training on how to interact and relate to consumers. If your staff can connect with clients, it will add value to your store.
- Offering in-store experiences is becoming more important
The nature of retail stores has changed. Your store’s location and the convenience you offer are no longer the only important selling factors, but the experience also matters. Modern consumers expect to be rewarded with memorable experiences when visiting your store.
To plan and execute unique shopping experiences in your store, you need to think about your products, your consumers and your store.
- Shoppers are becoming more demanding and you need to be flexible
Today’s consumers are more demanding than ever, they expect retail stores to be flexible and offer various options to meet their requirements. This is especially applicable in order and delivery options. Consumers want the option to choose between ‘same-day delivery’ or ‘in-store pickup’ and retailers need to adapt to keep clients happy.
- This year, you need to improve back-office operations
To improve your retail experience, you need to invest time and effort into the back-office of your store. This refers to the evaluation and improvement of your business’ processes to ensure efficiency.
- Adapt to selling through multiple channels
Nowadays, most retail stores have an online and traditional store and retail store owners therefore need to apply new metrics to measure their store’s performance. Also keep in mind that your performance in either of your selling platforms is likely to influence your brand perception in the other platform as well, which is why it is crucial to pay attention to all your selling channels.
If you are earning an income from guests at an Airbnb, or any other rental income from letting property as an owner, then it is your duty to declare such income to SARS (South African...
Hiring a suitable candidate to join your team is crucial. Not only is it important to ensure that the possible candidate has the necessary skills and qualifications to do the job, but...
Millennials refer to the generation of people that were born between 1980 and 2000. This generation grew up in the digital era using electronics, the Internet and social media. When it...