There’s no question that the face of retail has been shifting over the years, as the digital consumer ecosystem has grown and taken hold. Traditional retailers that previously prided themselves on setting up a physical storefront and selling to customers one-on-one are now finding creative ways to leverage online opportunities and make more money. Better yet, these new approaches are also serving customers’ needs nicely and contributing to flexibility in both buying and selling. If you’re in the retail industry and looking for ways to stay competitive and grow your revenue, read on. Here are a few modern selling tactics that can spell success for you and your business.
Direct Selling Isn’t a Dead End – Tapping Into the Pop Up Party
Whether you call it multi-level marketing or direct sales, this business model has often gotten bad press. Over the years, many people have confused this selling method with pyramid schemes. But the reality is that there are many reputable, honest companies that believe in the direct sales model and are running ethical, profitable businesses accordingly.
For example, Amway is a global business that believes in high-quality health, beauty and home products, and distributes them through Independent Business Owners (direct sales). The company has grown and thrived for decades, thanks to its foundation of integrity and focus on making customers happy. LuLaRoe is another example of a booming and ethical multi-level marketing company, selling comfortable and fashionable clothing through independent representatives (known as Fashion Consultants).
If you’re interested in retail, or already have your own brand, direct selling is one option to seriously consider. By investing your dollars in equipping passionate sales reps, instead of allocating it to traditional marketing, you might just be able to build a loyal following and experience a great surge in sales.
We Like to Party
Whether you go the direct sales route or not, you can take advantage of digital parties as a way to sell your inventory. Facebook is one platform that offers an avenue for buying and selling within private groups, called “sell groups.” If you create one of these groups and indicate that you want it to be for buying and selling, you can then announce sale hours and live-stream a presentation of your clothing.
This can be a fun way to engage potential customers, display your retail items and get immediate commitments when customers type “sold” in the comments section (along with noting which item they want). It takes a little bit of planning to make this sort of party run seamlessly, but once you get the hang of it, it might end up being your favorite (and most lucrative) way of selling.
The Urgency of Pop Ups
Finally, pop ups are a trend that allow you to have the best of both retail worlds: a physical ‘store’ in which you can interact with customers directly, but none of the egregious overhead that comes with paying ongoing rent for a brick and mortar store. One of the reasons pop up shops can bring in so much money is that they create a sense of urgency by their very nature. Customers know that this physical display is only available for a limited time, so they’re more likely to make a visit and snatch up the inventory they like.
Pop ups are fun, too, because you can make each one a unique experience and keep things fresh for customers as you showcase different items each time. BarkShop is an example of a company that offered an interactive, exciting shopping experience for dog owners and their furry friends in a pop up atmosphere. By tailoring the environment to the customers, they had a lot of success — and you can mirror this tactic for similar success.
So as you think of how to grow your retail business, remember you have many options beyond having a boutique (and the costly price tag that comes with it). Try some of these ideas, and watch your sales soar.