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Friday Retailer Flex – Episode 29

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Retail Strategies for Improving Sales

Support the show

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The Friday Retailer Flex – Episode 29

Fri, 10/8

SUMMARY KEYWORDS

customers, retailers, bicycle, store, retail, dealers association, pro tip, engaging, experience, merchandise, pay, tip, sales, sales associate, membership, tip number, live stream, engage, today, number

SPEAKERS

Heather Mason, NBDA

NBDA   00:10

You are listening to bicycle retail radio brought to you by the National bicycle Dealers Association.

Heather Mason  00:16

Welcome to the Friday retailer flux, a weekly pointed digest of inspirational and actionable insights you can implement today to take your business to the next level. This is NBDA President Heather Mason. If you’re a first time listener, be sure to check out the previous episodes. Please do us a favor and leave a review. It helps members of our industry find our podcast. This podcast is designed specifically for the bicycle industry dedicated to strengthening our retailers and cycling community. Today’s flex is centered around some retail strategies for improving sales. The best retailers know who their target customers are and why those customers are shopping with them. Experienced bicycle retailer or just getting started in our industry. We have seven retail sales tips to grow your business. Number one, attract new customers with great windows and engaging website, a blog and social media. The logical step when you want to go after new customers is to give them a consistently high quality experience, whether they might be engaging with you wherever they are. That means you have killer window displays that tempt desire with one grouping rather than hard selling everything in store. That means paying for a website that mirrors a high quality experience with your hours directions, and what customers will get from coming into your physical store. It means a blog that continues to help your customers to do more with the items you carry. And it means a compelling social media strategy that includes Facebook, Instagram, YouTube, and more. The second tip, pay your employees more. There’s a reason many small retail business stays small, they think small and try to limit every cost. When you pay your sales staff more you can expect more. stores that pay higher wages with more full timers have lower turnover and higher profitability. never compromise your store’s ability to create an exceptional experience for your customers. Do the hiring whoever will work for the lowest wages. Pro Tip number three. Train your employees on an ongoing basis. Take nothing for granted when it comes to how your employees answer the phone, greet a customer, sell your merchandise or even take out the trash sales training as a must have in your retail strategy. Tip number four, curate your merchandise skews. More lines, more models more choice is not what customers are looking for. Your customers are coming to you because they’re looking for the best choice. That means you want to be the curator that organizes and presents a collection of products customers can clearly see have advantages over the competitors. Tip number five, engage the customer in the best way. We talk about greeting the customers but retailers who station a greeter at the front of the store to pair everyone Hi, how are you today are not engaging, they’re actually annoying. The best retailers are the ones who hire and train and know the game is to engage the customer in a conversation. That doesn’t mean to Badger them with 100 questions. But encourage your sales associate to find a way to engage the customer in a back and forth dialogue. To be helpful to be handy to be human and to elevate the customer experience. Tip number six. Invite your customers to return often. The last thing people leave your store with is how you sent them out back into their own world. Thank you was fine. But the best bicycle retailers find a way to come around the counter. Think the new rider again. motivate them to ride and invite them to return back to your shop to interact with you in a clinic or group ride. Or perhaps remind them to visit you online. Pro Tip number seven. consider doing a live stream on Facebook or Instagram. It’s important to remember that social media is for more than offering discounts, coupons and product shots. But hosting a live stream allows you the possibility to answer potential customers questions to teach existing customers something new and does it with a way of authentic personality coming across to your customers. It’ll bring them back into your store allows them to feel like they know you on a more personal level. Consider it it’s not that hard once you get into it. Keep in mind your personal retail strategy is what sets you apart from the competition. We hope today’s flex provided a bit of insight and left you ready to attack the day. That’d be Va extends our thanks to our membership base if you’d like to support the show, don’t forget to subscribe on Spotify, Apple podcast or wherever you get your podcasts. Please share your favorite episode with friends and on social media. Thank you for listening now go be great.

NBDA   05:15

This has been bicycle retail radio by the National bicycle Dealers Association. For more information on membership and member benefits, join us at nbda.com

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The NBDA has been here since 1946, representing and empowering specialty bicycle dealers in the United States through education, communications, research, advocacy, member discount programs, and promotional opportunities. As shops are facing never-before-seen circumstances, these resources offer a lifeline. Together, we will weather this. We at the NBDA will not waver in our commitment to serving our members even during this challenging time—but we need your support.

Now is the time to become a member as we join together to make one another stronger. Whether you’re a retailer or an industry partner, your membership in the NBDA is one of the best investments you’ll make this year. 

Learn more about the benefits of being a member and join now.

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