Look at any profitable fashion brand and all of us could learn a thing or two when it comes to creating customer loyalty, repeat business, and stronger profits.
There is something for everyone. There aren’t a hundred stores like Target and there aren’t thousands of stores like Louis Vuitton. There is one Target and one Louie. Brands that make it on their unique perspective and don’t pay attention to what everyone else is doing.
So before you start a new side hustle or add another offering ask yourself “Who else is doing the same thing?” and “Is my motive unique to me and my vision or is it because it is the ‘cool’ thing to do?”
2. More isn’t better. Even Costco has an edited selection. You are the expert looking after your customers. So do them a favor and edit their options. Editing isn’t about limiting. Editing your offers is about respect and standards. Respect that you don’t offer your audience just anything. And have standards that reflect that you aren’t the average brand. You know quality.
3. Details matter. All good shopping experiences have details. From the shiny showroom window, to how the price tag is secured, to what material the price tag is made of, to the entire check out experience - include the quality of the paper of the receipt. Every aspect of the experience has been thought of.
Yet, far too often we as entrepreneurs, don’t think of such details. We just do and throw it out there. The finer details of how all the elements from our brands to our marketing to our check out process aren’t refined to show the attention detail our audiences secretly desire.
4. It is all about the experience. Profitable retailers know how to create a great shopping experience. From online to offline, the shopping experience is fun and engaging. But it is an experience. From comfy chairs to take a breather, to a glass of champagne or a bottle of water- retailers know that to create a positive experience- hospitality must be shown.
Hospitality is truly a lost art for most entrepreneurs. We are so obsessed with the business only mindset of “must make money” that we forget to extend the human kindnesses we all desire and look after our customers just as much as we look after the bottom line.
5. Relationships equal repeat. Profitable retailers know that the key to repeat business is the relationships created. As human beings we innately crave connection, not a new pair of sneakers or another little black dress. So we go “check out” a store more because we want to have a chat with the associate we like more than the fact that we are looking for something specific.
Check out the Steal The Strategy vlogast on Entreventure.co to learn more of these industry stealing strategies that create true results in your brand.