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Pt IV: Avoiding Accidental Retail – Final strategy

August 10, 2011

9. Document the transaction

If you don’t have salon management software it’s time to get shopping. Most retailers have inventory management software so they can easily receive merchandise, order materials on time and in the right quantity, and build a consumer database. Knowing what sells is important, but if you really want to influence purchase patterns you need to know who buys what, in what quantities, and when. Do your clients typically buy only on promotion, in multiples, or just very select products? Once you start following purchase patterns and buying behaviors you can turn your knowledge into a competitive advantage and drastically increase your retail sales.

10. Get your message out

acommercialSuccessful retailers are continually communicating with their consumers, keeping them informed of all new arrivals, trends, product lines, launches, seasonal looks and of course any kind of price promotion, gift with purchase, purchase with purchase, or added value specials. Communicate regularly via e-blasts, your website, facebook, twitter, text messaging, direct mail or other advertising venues and media.

And finally, as an overall recap on how to maximize your retail potential:

Dedication and Perseverance

Keep revisiting your retail strategy seasonally so your assortment is always relevant, your brands are always aligned with your clientele, and you have a clear understanding of what works and what needs to be improved upon. Retail requires continual effort if you are to keep it fresh and interesting. Never be satisfied. The moment you stop improving, you start losing ground.

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