Things to consider when planning what 2020 looks like for your Brand.

When is your brand busy and when is it quiet?

Now, there isn’t always a way to boil these times down to the day, but most brands will have a rough idea of when these periods will occur. ‘Knowledge is power’ and in this case knowing these times may just lead to an increase in revenue.

How?

Like any great sporting team your brand always needs backups, subs, or people sitting on the side lines ready to jump in when necessary. This is never more crucial than during your busy periods. Organising extra Brand Ambassadors to be allocated either across the board, or specifically to your busier stores, will ensure your brand’s reputation for quality service remains, that brand awareness increases, and you don’t miss a single pound of revenue that could be generated.

In 2017 Forbes quoted a report by Retail Dive which stated, “Retailers are understaffing stores- and losing sales.” The article went on to state, “Retailers are losing consumers fast as frustration builds when store associates are nowhere to be found.” Whilst retail traffic fluctuates and brands reduce staff to compensate, having an agency like Wave in the wings with those much needed subs will help safeguard your revenue.

How to maximise your down time.

You can spend your quiet periods in one of two ways: preparing or generating.

Preparing

If your brand has clear quiet and busy periods it may be a good idea to spend your down time preparing to make the most out of your busy periods. If you start with an audit, you’ll have the information you need to know how to proceed and make the most impactful changes. Auditing staff is best done with Mystery Shops, allowing for an unbiased and everyday consumer opinion of your staff. Once you have the data and insight you can begin training and hiring in the areas it’s needed most.

Generating

In a world of experiences and technology a brand can’t afford to just stand there and look pretty. You need a personality to go alongside that pretty face; you must give consumers a reason to visit your stores and spend. When generating business, you should ask yourself what sets you apart from your competitors and how can you capitalise on it. TheStoreFront reported that, Millennials now say 52% of their holiday spending would go to experience-related purchases. Enter: retailtainment.” It’s also important to note that in-store purchases still account for the majority of purchases made. So, in your quiet periods create a reason for consumers to visit you in store and capitalise on social media friendly experiences. Build it and they will come, but make sure you blast it on social media too.

 

If you’ve read this article and it’s re-affirmed your plans for 2020, well done! If it’s left you with things to consider, then this article’s done its job. Need help with anything mentioned in this article? Please reach out, we’re more than happy to have a chat.

 

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