The pandemic has been going on for 2 years and its impact on the world economy is immeasurable. Not outside this "war of the century", Thailand is one of the countries most affected by the pandemic, even for the retail industry.
In the context of living with the pandemic, many effective sales strategies have been put in place to help business owners maintain business operations as well as ensure revenue for the store. What are those strategies? Let's find out together with Blog Sapo in the comments below.
1. How the Covid pandemic affects the retail industry
In the context of complicated Covid, many inadequacies have caused difficulties for business owners as well as consumers due to the lack of consistency in allowing the circulation of goods, leading to the situation that many goods are not considered goods. essential chemistry. This causes many difficulties for manufacturers as well as retail business owners, especially grocery stores and supermarkets.
The large demand but the inability to meet the supply is one of the inadequacies that directly affect the business activities of the retail industry as well as the lives of people.
This is also explained based on the change in consumer behavior when tourism and entertainment activities are restricted, customer groups will shift to safe shopping and eating activities. This will help retail activities have the opportunity to increase sharply not only during the pandemic but also in the longer future.
One of the reasons why the retail industry is highly appreciated for its potential is its ability to transform and come up with many sales strategies such as market expansion, sales channels to increase new customers as well as store revenue. row.
2. New retail sales strategies during Covid
2.1 Retail based on buying experience
As of August 2021, the implementation of social distancing or restrictions on going out has greatly affected people's consumption habits and behavior.
This can be seen clearly in the marked increase in online purchases today even for essential goods. Changing this habit also helps customers to shop more easily through many applications, platforms or social networks, ...
The demand is extremely large and growing even when the epidemic situation is less stressful because the habits of consumers have changed, or at least the expansion of their shopping channels. This is considered one of the factors that turn a risk into a risk for retailers now and in the future.
2.2 Increase visibility for your merchandise
Also based on consumer demand, increasing merchandise visibility means how customers can see what products you have in your store before they even go to the store in person. .
Therefore, this is considered one of the retail strategies that require the ability to sell omni-channel. When you have the ability to expand the sales channel, it means that your customer base is wider, more customers everywhere can know your store or brand.
Although it will not be easy to start and manage multiple channels at the same time, it will be an opportunity to help business owners gain more customers and increase sales effectively even during difficult times.
This is most clearly shown by starting a business on e-commerce platforms such as Shopee, Lazada, ... or starting from your own personal Facebook and especially a professional Website. Expanding the sales channel and increasing the coverage of your products is an extremely important factor for you to sell more easily.
2.3 Focus on delivery activities
The increasingly complicated epidemic situation means that movement is also restricted to ensure the safety of everyone. Business is no exception and you are forced to find your own direction on online channels. This is a time when online order management and shipping management are especially important elements in an effective sales strategy that you must keep in mind.
If you trade products on e-commerce platforms, the process of creating orders and pushing shipping orders will not be too difficult. However, for business owners doing business on social networks, Website optimization for shipping and online order management is not a simple thing.
Let's start by diversifying shipping units, don't rely too much on just one unit. Combined with the detailed management of each online order to ensure delivery and business without any problems.
And finally, do not forget to check with the shipping unit to ensure the store's interests. If your orders are increasing or you manage multiple sales channels at the same time and you always struggle to manage, the application of support solutions such as multi-channel sales management software is definitely something you should consider. .
2.4 Multi-channel synchronization and management
Multi-channel selling means that you have to manage multiple sales channels at the same time with different ways of doing business, product management, and finance. This forces business owners to arrange and provide appropriate management to ensure that they can control, monitor and evaluate the sales strategy of each sales channel.
This is the time when most business owners have to find out for themselves the right direction to make sure they don't have problems such as shortages and misalignment of inventory on each channel. Along with that is accurate management without confusion for each online order.
That is why synchronous and centralized management in a single place is a must-have factor that every business owner must consider to minimize risks as well as ensure effective omni-channel business. the best.
3. How to effectively increase sales from retail sales strategies?
3.1 Capture the business performance of each item
Retail is an industry with an extremely diverse number and models of products. Therefore, based on the periodical report, each time the business owner can clearly understand what are the best-selling products, which are the difficult-to-sell products and the large inventory.
This not only helps business owners come up with appropriate business plans, but also identify consumer trends and customer needs at each time to promote more.
3.2 Increase interaction and promote customer care activities
For many stores doing business in the retail industry such as cosmetics and fashion, revenue from old customers accounts for a very large proportion. That's why maintaining customer care, regular interaction and improving service quality will help you a lot in improving the rate of loyal customers and increasing revenue most effectively.
Along with that, in other products, business owners can increase interaction with customers when selling in stores or consulting online to improve service quality as well as better understand demand. want and receive the most accurate feedback on the products that I sell.
In addition, business owners can provide customers with useful features related to products they are interested in, their needs or incentive programs. You can combine with CRM software to optimize costs as well as ensure the implementation of Marketing campaigns in the most effective way.
3.3 Develop appropriate incentive programs
Building effective sales strategies such as incentive programs is extremely important for you to quickly increase sales as well as attract more potential customers for your store.
Depending on your business plan, you can deploy incentive programs accordingly. Minimize the abuse too much, but should deploy campaigns that are really valuable and attract each specific customer file to ensure conversion.
In particular, always consider costs and profits to ensure you will not lose after campaigns. This can be assessed in detail through sales reports, marketing reports for each specific campaign.
3.4 Invest in images
For multi-channel business on social networks, e-commerce floors or Websites, images and interfaces are especially important. This is the top factor that helps customers pay attention to your products and booths and they will spend more time learning about your products. Along with that, do not forget to provide detailed product information so that customers can assess suitability and make purchasing decisions faster.
The above are retail sales strategies to help you optimize operations and increase revenue quickly even during the epidemic season. Hopefully the above sharing of Sapo can help you better understand how to operate and manage to improve business efficiency for your store.