Wednesday, March 30, 2016

Mistakes Retailers Should Avoid

Impression is one of the key components of your business’ success. Since it is important to feel and look good for your clients, it is very important for owners to take note of even the simplest detail. However, as reviews and studies have concluded, most retailers start their business without knowing the basics of the industry they are to undertake. If they have indeed done their research, they have zero experience. This leads to mistakes causing many retailers to jeopardize their own business.

Information Technology also has its own retail mistakes which are oftentimes repeated despite the spontaneous change. Mobile retailing industry, for instance, has its own share of failed fortune and disappointments. It has attracted a lot of business newbies because of the rise of mobile adaptation and the increasing growth of IT. Many people thought venturing into this kind of business impulsively is easy since there is not much to lose anyway. And more often than not, they are proven wrong.

To assist you in identifying mistakes done by your predecessors, the Peterson Group, distributor of mobile phone accessories and laptop peripherals in Taiwan has listed some of the most common of these mistakes which we have also observed from some of our retail clients and includes tips on how you can best avoid them:

1.Dysfunctional Displays
In order to impress the customers, many retailers stuff more than half of their products within a few meters from the entrance. We call this the decompression zone. Maria Hernz, author of “the Psychology of Buying” has stated that “By the time the person is starting to engage with the physical environment, some of the stuff you’ve put by the door is blown past”. After touring around the busy center of Jakarta, Indonesia, she also said, “…these store owners thought they attracting people. They are only crowding the eyes”. She then suggests displaying a few items and using lighting to do the magic of contrast.

2.Overcrowded Merchandise
We are oftentimes aghast on the number of orders we get for accessories. It is quite understandable when it is for the in-demand products but for those which are not yet introduced in the market, it would seem like our customers are preparing for a long hoard or something. Resist the urge to order bulks of products and stop yourself from displaying too much merchandise in one area.

3.Unappealing Sights
Watch out for some details which your customer might find appealing such as electric warning signs on top of some open wires or open restroom doors with the toilet seat open.



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