Retail Detail

Once your store is up and running, it's time to start thinking about all the little

details that can help your store to run more smoothly, survive down economies, evolve with changing trends, and build a good customer base.

1) Inventory control and management is very important. If people think that you don't ever have their size or if they constantly have to order items that you don't have in stock, they'll simply stop coming to your store. Controlling shrinkage in your inventory is also important. You need to put policies in place that deter employees from stealing. Deterrents around the store are also important. Signage, lighting, space, and mirrors can be helpful in discouraging shoplifters. Make sure that you have inventory control counts on each shift for high priced items. Tags, alarms, mirror domes, cameras, and other inventory control products can be well worth the initial investment.

2) Customer service is extremely important. People care about more than good products at low prices. We are a society of "convenience seekers" that want pleasant shopping experiences. We want exactly what we want and we want it right now. Shoppers are now savvy and look for good service, good return policies, and maybe a little special treatment. Remember that you're competing, not only with other stores and boutiques, but also with online shopping and auction sites. You need to make sure that shopping in your store is a special experience worth coming back for.

3) Stay on top of the competition by tracking their promotions and sales. You may want to keep a file or a spreadsheet on each of your top competitors and just monitor what you see. Pay attention to things that you liked, what you didn't like, what was effective, and whether or not there's a cyclical pattern. You may be able to predict what types of sales they are going to have and when so that you can position yourself to have better offers right before or at the same time as the competition.

4) Turn your store into a shopping paradise. Offer little amenities like water, places to sit, magazines to read, and relaxing lighting in areas where there is little product. People don't want to be cramped and you don't want them to have the cover that they would need to shoplift. Keep garment racks on the floor to a minimum. Utilize slatwall and slatwall panels to get your inventory up off of the floor and within eye shot of your register. People will have to ask for items that they need down and are far more likely to feel uncomfortable shoplifting. Your employees will see that it is obvious when a garment is missing and are also unlikely to steal. Use bars with slots or balls to keep the hangers separate. This will make it more noticeable if something is gone and help you to take quick inventory counts at the end of each shift.

Retail Detail

By: Ron Maier

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