Retailing Advice: Improving Your Market Share in a Bad Economy

Does your entrance welcome customers?

Running a retail business isn't easy-- add in a bad economy and it's downright difficult.  But there are some effective strategies smart business owners can use to ensure that they not only will maintain their market share, but can actually increase it when the economy is challenged.

My philosophy in business was to focus on morale and training, to hold managers and assistant managers responsible for their people and to make certain communication and goals were clearly outlined and transmitted all the way from the top to the bottom of the store.

Using this, I was able to make sure each of my employees (I had 475) were able to do their jobs, wanted to do their jobs and understood what was expected of them.  This meant my customers got excellent customer service-- and in a bad economy when people are watching their pennies, choosing who to spend it with can be based merely on being the victim of bad service.

One of the things to remember about your business is it never runs better than when you are there, but that doesn't mean you should have to be there 24/7.  You need to be able to count on your employees and management team to deliver the service you expect.

Step 1 of Improving your Market Share:  Check the outside of your store.
Is it clean?  Does it represent the kind of business model you are attempting to convey?

Here's a simple checklist-- step outside and try to look at your store with fresh eyes.

1.  Entry should be BRIGHT and INVITING.  If possible, people should be able to see into your store before they walk in.

2. Trash cans placed outside should be emptied when they are 3/4 full-- without fail.  Nothing says "shop somewhere else" like overflowing trash.

3. Area should be swept and free of trash or debris not just at opening but throughout the day.

4. There should NEVER be ANY employees loitering around the entrance.  This means if you must have  a designated smoking area it should be in the back of the store and completely OUT OF SIGHT.

5. Carriages should be collected regularly.   Any employees in the lot performing duties should be aware of all customers, greeting them, helping them load bags-- and most importantly it should be CLEAR that they are an employee of the store.

6. Lighting should be bright and directional.  Is it clear where your entrance is?  Are there handbaskets available?  (Note: It's a good idea to place another SET of Handbaskets halfway through the store-- how many times have you wished you took a basket after you had six or seven things in your hand?)

NEXT: The Front End