Sales Strategy
How Retailers Can Increase Sales By Adopting Simple and Time Tested Measures March 05, 2022 (0 comments)
Gurugram, India--The pandemic has put a dent in the purchasing power of many people. A McKinsey report highlighted that the pandemic weaved a web of disruption worldwide, impacting supply chains across segments and affecting sales and growth.
Experts, however, believe that the market will perform better. The online jewelry shopping market is expected to grow at a CAGR of 15.5% and reach almost $59 billion. This period brings just the right opportunity for retail shop owners to develop ways to outperform their competitors and increase their sales.
Mirrar highlights some practical tips for retail stores to grow their sales:
It recommends that business owners focus on a few segments and direct their resources to acquire customers in those very areas. It also advises businesses to carve a niche for themselves and stand out in the ever-growing competition.
Another straightforward way to attract customers--a time-tested one--is to offer occasional and legitimate discounts. It also suggests that the sales team be trained to achieve higher close rates and enhance the customer experience. Other factors towards establishing the brand include:
- Having a personalized approach to communication.
- Listening better to customer needs and service requirements.
- Continually asking for feedback to improve their experience.
The article also suggests businesses embrace Augmented Reality (AR). Here's an excerpt talking about the need for AR implementation:
"Foremost, digitize your inventory. Second, in a physical store set-up, install screens where customers can look at themselves via camera and virtually try on the jewelry. In the online store set up, install an AR solution on the website that allows the visitors on the products' page to virtually try on that product."
Read more on Mirrar.