These retail resolutions may seem difficult at first. However, if you stick to them throughout the year, you have every chance of succeeding.
Here are five retail resolutions that will assist you in achieving your small business objectives.
Resolution #1. Surprise your customers.
It’s easier said than done to “put your consumers first.”
The customer experience is the next competitive battleground in business. This has never been more true than now.
Customer-centricity can mean anything from turning a customer complaint on Twitter into an idea to execute in six days to flying warm pizzas to a hungry customer by drone.
You don’t need drama to make a strong statement, though. Customers will be happy and conversion will increase if you focus on resolving typical friction points.
For instance, you seek to resolve an issue like an unreasonably expensive or slow delivery or confusing checkout. Or suppose you tackle the challenge of impossible returns. Either way, you will surprise your customers and win their confidence as well as their business.
Resolution #2. Use shipping as a marketing tool.
Shipping shouldn’t be difficult. In addition, it shouldn’t eat into your already slim profit margins.
However, while delivering orders was fairly unusual a decade ago, it is now a commonplace expectation. In addition, there are many technologies available today to help you achieve your shipping and fulfillment goals. These include such things as expanding shipment alternatives and lowering carrier onboarding costs.
Additionally, some businesses have been converting retail storefronts into tiny distribution hubs.
Modern eCommerce superstars such as Amazon are embracing shipping as a conversion and loyalty-boosting strategy. Amazon, for example, was responsible for delivering over a billion items over the holiday season.
With shipping issues accounting for 64% of cart abandonment, investing in excellent shipping and fulfillment systems will help pave the way to success.
Resolution #3. Set a self-awareness goal for yourself.
You’ll be in a better position to make the right decisions for your company if you increase your self-awareness.
You can do it through open feedback from your customers and team. Additionally, you can accomplish this by seeking guidance from subject matter experts on parts of the business that are underperforming.
Being self-aware also gives you a competitive advantage. This is because when you are self-aware you’ll be able to flex more effectively in response to shifting consumer attitudes.
As a direct response to the quieter experience of internet shopping, three Seattle retailers — Eddie Bauer, Filson, and Nordstrom — are revolutionizing the retail sector. They are trying to find new methods to express their brand story by investing in the in-store experience. As a result, they are improving the shopping experience by providing shoppers with a compelling reason to participate.
Resolution #4. Be on the lookout for the unexpected.
It’s always critical to prepare for the unexpected.
For example, it can be very beneficial to prepare for a time in your business when a ruthless competitor appears or when stock-outs occur. Suppose there is a shift in legislation. Rather than waiting to react when a threat arises, why not be proactive?
To begin, determine how much control you have over your activities. In addition, ask yourself if it is possible to extend your business across borders with your current infrastructure. Furthermore, ask yourself if you are being caught in inefficient processes.
How about your customer journey? Are you letting purchases slip away because of a cumbersome checkout process? Additionally, are you operating under out-of-date delivery options?
Local businesses who sit on their hands while the competition is changing will be pushed out of business.
Resolution #5. Set S.M.A.R.T goals and finish them.
Finally, make sure your projects are in keeping with S.M.A.R.T. objectives.
It’s true that it may appear to be easier to continue with old habits. Some people do not want to disrupt the status quo. Nevertheless, repeating the same old plans and pathways will never allow you to reach your full revenue potential.
Your team will firmly stand behind the new techniques you’ve included in your strategy if your objectives are a part of a S.M.A.R.T goals plan.
These resolutions may appear difficult or even impossible at first. However, if you stick to them throughout the year, you have a good chance of succeeding. Therefore, don’t give up! Your retail business, customers, and coworkers, are depending on you.
These five retail resolutions can help you reach greater levels of success in your business.
It’s true that we have experienced some of the greatest challenges in our history in the past few years. However, some of the greatest advancements in history came as the result of great hardship. Therefore, keep moving forward.
New technology and new opportunities are presenting themselves every day. Simply reach out and make use of them!