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Spring
2017
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Inside
Outdoor
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you become the local expert in your
industry. I work with an outdoor store
whose motto is, “Ask Us – We’ve
Been There.” Whether camping, hik-
ing, boating, climbing or backpack-
ing, this store hires local experts who
relate to what the customer is going
to be using the product for. Think
about it: would you rather buy a pair
of running shoes from someone who
hasn’t run a mile in their life or from
someone who goes for a daily run be-
fore or after work?
When it comes to pricing, brick-
and-mortar retailers should know the
online prices for the products and/
or services they are selling. Unfortu-
nately, these days, this includes shop-
ping not only other online retail sites
but also many vendor sites, since they
often sell directly to your customers.
You must at least consider offering
on-the-spot price matching whenever
possible, and free shipping when it is
economically feasible.
The idea that all shoppers will
justify paying more to support a lo-
cal retail establishment is indeed a
noble notion. However, I don’t believe
it is sustainable over the long term.
About 80 percent of adults today
have either a smartphone or some
sort of access to the Internet. Today’s
shopper knows what the prices are
going to be and probably has done
some homework prior to coming
into your store. When you can, post
current online prices next to certain
items. Why not encourage your cus-
tomers to do online comparisons?
They’re going to do it anyway. We all
do! This is not a suggestion that you
seek out and post the lowest price
possible; instead, it is a way to show
your customers that your prices are
reasonable and include the cost of
knowledgeable and expert service,
which cannot be provided online.
Traditional retailers also have
another advantage over e-commerce-
only merchants. It is the opportunity
to make another sale when merchan-
dise comes back – as it does nearly
30 percent of the time for online-only
retailers. Use this to your advantage;
you might even go so far as to stick
a $5 coupon in the bag for their next
trip to the store, just to counter any
perceived inconvenience a customer
experiences in making a return.
One more advantage: you can give
the customers a “new” experience
every time they visit you. Don’t forget
to keep the merchandise fresh and
exciting. Change the window and in-
store displays weekly and rotate cur-
rent inventory on end caps. Above all
else, manage your open-to-buy (OTB)
and especially the inventory on-order.
You always want to have a con-
stant flow of merchandise landing in
the store – new looks and products
to excite and delight your customers.
Remember: Nobody comes into your
store to see what came in last year.
Ritchie Sayner is the author or
“Retail Revelation –Strategies for Im-
proving Sales, Margins, and Turnover,”
available from Amazon. He can be
reached at
RSayner@rmsa.com.BACK
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