While some of the largest names in retail are forced through weak earnings to close stores and file bankruptcy, the small boutique owner can't help but wonder about what lies in store for the future.Fear of the unknown can often lead to paralysis and generalized business inertia at precisely the point when fresh initiative and action is needed. It takes courage in these uncertain times to invest in your business but investment doesn't mean draining your already strained financial resources.
Simple and shrewd adjustments can derive substantial benefits for your business with the minimum of cost. The appearance of vitality is essential if you are to thrive in these testing economic times.Your ability to anticipate change and move rapidly is a powerful advantage you wield over the decision-by-committee structure that frequently hobbles larger business models. Even if prospective customers don't buy on their initial visit, if they encounter an inviting and stimulating environment the odds are they will be back again and your business will benefit from word of mouth promotion, which again means additional future traffic and a furthering of the cycle.
Bear in mind that visual merchandising starts on the street. Shoddy window displays will work against you. Upgrading scruffy retail displays is a must and needn't break the bank. Check online for various options and price points and keep an eye open for local auctions and store liquidation sales, which are abundant right now.
Weight your inventory to reflect your target demographic and their ever-evolving circumstances. Faster moving items will be the lower price points - grow your accessories merchandise.
Thursday, July 23, 2009
Fashion Boutique Retailer Survival Guide
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