Retail Myths

We found a great article written by John Winning. It was featured on the Smart Company website and we wanted to share it with you. As we look ahead to a new financial year, it's important to shed some light on the retail myths that have been thrown about for the last 12 months and bring to the surface some retailing realities.

Myth 1 – Shopfront retail is dying

Shopfront retail is not dying; you just have to be innovative and willing to change your methods to catch the eye of shoppers that have an abundance of choice. We recently launched Australia's premier appliance showroom, which includes world first displays. The Winning Appliances Flagship Redfern Showroom offers a unique lifestyle experience for appliance shopping and we opened this showroom following our biggest year on record, with over 20% year-on-year growth.

Myth 2 – People won't buy "that" online/in a store

These sorts of stereotypes no longer apply. People, and even my own father at the time, told me nobody would buy appliances online. Innovation leads to growth.

Myth 3 – Product is more important than delivery

The delivery of a product is just as important as the product that you sell. The timing, communication and professionalism of your delivery team – such as removing any packaging – is crucial to repeat business.

Myth 4 – Pick offline or online and stick to it

It's a new ball game. You can't distinguish between offline and online retail anymore; it's just retail.

Myth 5 – The lowest price will get you the sale

Australian shoppers are extremely savvy, so they won't just settle for a low price offer. An end-to-end customer experience that includes convenience and prompt delivery will be required to impress customers.

Myth 6 – Play the game with your competitors

Stick to your own business plan and don't be influenced by your competitors. It doesn't pay to have the same offering; consumers are always looking for a unique experience.

Myth 7 – You need mass advertising to get noticed

You don't need to blanket advertise to get noticed, in fact this can infuriate potential customers. Use your money wisely to invest in advertising campaigns that ensure shoppers not only remember your name, but also the reason why they should shop with you.

Myth 8 – You need to be loudest to be heard

You don't need to have the loudest voice within your industry to be noticed; you just need to have the most sensible things to say.

Myth 9 – The primary purpose of customer support is to assist people purchasing a product

It's always easier to buy something than return it. Your customer support team should also be solutions focused; a business is defined by how they handle something when it goes wrong.

Myth 10 – Get it right for the next customer you serve

You need to impress EVERY customer that walks into your store or lands on your website. Fix issues and solve problems immediately; word travels fast, so you can't afford to lose a customer.

To find out more about Smart Company, please visit their website www.smartcompany.com.au