There is no doubt that pandemic has dramatically and drastically changed the retail business scenario worldwide. Traditional selling procedures may not work as well as before, so it is better to add some new recommendations to help your retail sales in today’s business competition. If you have landed on this write-up, chances are you’re looking for expert’s tips to uplift your retail business. Perhaps you have experienced a sales slump or want to make things favourable for yourself.
Whatever your reason, you can get your solutions from this blog. It is also applicable for new learners pursuing their business or MBA studies. Here are some compiled best answers in this post, along with the additional commentary, advice and examples.
By applying your consumer psychology threat to your sales strategies, you can design more effective marketing campaigns, launch or promote new products and look for customer satisfaction. Here are 11 ways you can use the inner workings of the customer’s brain to your advantage
- Make customers feel safe in your retail shop
In the period of COVID 19, one of the best factors you can do to drive new consumers or traffic and sales is too immense implant confidence in your customers. Due to the pandemic situation, many of your customers are scared of unhealthy and unhygienic things. They want a healthy and safe environment to check things out and buy accordingly.
To win their confidence, start by clearly communicating the safety measures taken by your side. Explain all you have been doing to keep your service management team safe in your location, and then use multiple channels to get the word out.
Most brands use this policy to retain their old consumers and promote “safety measures” like the “No Mask No Entry” sign. If you are active on social media, you can encourage these safety rules and precautions and post various posters of your people wearing masks and sanitising their hands. In addition, email marketing and promotions via websites are great ideas for promoting COVID protocols.
- Don’t offer plenty of options
It is a common psychology of people that they like the choice. But too many options can be hectic to handle. That’s what is known as the “paradox of choice”.
According to a popular study, Iyengar and Lepper set up two tables in their grocery store.
A table A, consumers could taste from a selection of 5 jams, and at table B, they could choose among 25 various jams.
More people stopped by table B, where the options are more, but only 3% of them actually bought a jam. On the other hand, almost 30% of the customers who stopped at table A purchased a jar.
So, you must limit the store’s flavours, colours, and brand options. If you offer too many alternatives, you may end up selling less than you expected. It is also a common topic for business students.
Sometimes, they must survey the market and arrange the report. If you are also a learner, take Assignment help from a professional expert on business studies.
- Have a loyalty program
A loyalty program is an excellent way for retailers. They provide significant knowledge to consumers’ preferences, uplift loyalty, and according to current studies, they can also make consumers happier in your store.
For example, in a study by Kate, Hans and Greg, customers with a reward or coupon card for a store smiled more. At the same time, shopping chatted longer with boutique employees, said “thank you”, and left a tip more often than customers who were not part of the loyalty or reward program.
- Ensure that your store shows up in online search results
It doesn’t matter how old your shop is or how popular your business is in the locality. Now more than ever, consumers keep searching your store on Google to find your products and services.
So ensure that you are showing up on the online search lists while new consumers search you by your retail shop. If you have a café then, you want nearby consumers to find your café whenever they search for “best café near me”.
By setting up business listings on Google, Facebook, and other online platforms, you can do this. When creating your profile, mention information, reviews and ranking as many details as possible. Include your name, address, contact number, email id, website link, Facebook page link etc.
- Emotional hacks
Messages with solid emotional attachment are easier to remember and more effective than Emailer. It focuses on reasonableness. You can also use common words like “Find your greatness”. The messages you are giving your consumers should be emotional or nostalgic. Sometimes, aggressive messages work like “Explore why 90% of the Fortune 500 brands choose us” or thoughtful messages like “Taste like 90s music”. These hacks really work to make consumers shop, and they less worry about money and are therefore willing to pay more for products.
- . Use items’ popularity to make them even more popular
Humans have common psychology. They tend to copy other people’s choices and behaviours. It is also applicable while buying something. The brain’s easiest tip is to make good choices with minimum effort.
That’s why there is a considerable significance of importance for sales.
A recent report on Amazon.com says that how many reviews a product has is actually more important than the actual rating. It means that people prefer something that a lot of people have already tired over with perhaps better reviews.
So they only rely on live reviews given by the consumers.
In your retail shop, make sure to highlight how popular your products are. For example, if the Korean cheesecake is regularly sold out in your bakery by 11 am, put up a sign announcing when it’s available. If last time a specific food item sold out over a weekend, announce its return featuring that stock might not last long.
- Be polite – unless you sell expensive items
Amazingly, research showed that in high-end brand stores, snobbish staff could increase sales. It is only applicable when running luxury stores or brands in a posh area. It doesn’t apply to mass-market shops or brands.
If you are the owner of a luxury store, you may allow your sales representative to act as if they hadn’t yet had their first meal of the day. For all other retailers, better stick to tried-and-tested smiles and politeness.
- Understand your customers’ language
While discussing the customers, try using the exact phrases and body language. Mimic language is an attractive way to grab the spotlight. Due to the “mirroring effect”, people tend to feel a stronger affinity to people who perceive similar to them.
This hack can also be used to resolve difficult situations.
If a customer says, “ I am highly disappointed by your products”, it’s better to acknowledge them using the very same words by saying, “Let me know your issues and I will help you by giving your another product” instead of using different words, such as “I am sorry you feel upset”.
- Place popular but inexpensive items by the entrance
Human psychology says once your consumers have made a purchase from you, no matter how small, they are more likely to buy more products.
A smart way to use this effect is to put low-priced yet popular products like ribbons, chocolates, magazines. This kind of items, which most customers buy without having to think about it for long, is particularly suitable for last-minute impulse purchase.
- Let customers touch the product.
According to a recent business study, customers are willing to pay more for items if they touch them. Therefore, the sensory experience is vital that the longer people spend looking and holding products, the more money they are willing to pay for them.
- Give away offers
Receiving something for free makes consumers feel special. It also makes them want to return the favour.
Dr Robert Cialdini, the writer of “Influence: The psychology of persuasion” book, says how one waiter increased his tips by 3% offering diners a mint after dinner. When he offered two mints, tips went up 14%.
Give customers a small freebie – it can be as inexpensive as a cookie or a sticker – to make them feel happy and increase their chances of buying from you.
Summary:
Knowing how consumers’ psychology works and what makes them think and tick can help make your sales strategy more effective. Make sure that you use the right approach for your business and target market and that you always combine these strategies with excellent customer service. Then, apply these mentioned ten tips to improve your retail business.
Author Bio:
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