3 steps: how to rethink your store in times of crisis
Updated: Jan 24, 2021
John Fitzgerald Kennedy used to say that the crisis is the greatest blessing for people and nations, because the crisis brings progress. Creativity arises from anguish as day arises from dark night. It is in the crisis that inventiveness, discoveries and great strategies arise.
And for this very reason, now is the time to think about your store with a totally new vision.
Undoubtedly the crisis has bent our forces and put a strain on our resistance, but behind this great chaos there is a strong change, both external and internal and if we want to move forward in what pushes us to open the shutter of our activities every morning, we have to sit down and start seeing the business in a totally new way.
Today we are dealing with the economic crisis, the internet exists, large-scale distribution and competitors are more and more and will strengthen more.
1) Analyze the problem
The difficulties probably existed before but you hesitated hoping that something would improve .
A first important analysis must be made on the type of business you are managing and if there is still room for growth in that sector
2) Analyze your business data
The first thing to do is to take the numbers of your store in hand and understand what way you are doing, where are the losses and what are the expenses.
You can entrust this task to experienced retail professionals or directly to your accountant.
This will allow you to understand and understand the choices made so far regarding:
- Purchases (quantities, stocks, collections or choice of products, margins, etc) ..
-The concept (container of your products) that through the KPIs you can obtain an infinite reading list on the progress of the store.
-Visual merchandising: (all product management within the store) and all product rotations in different commercial periods within your store.
-The Marketing: (The use of communication in your shop)
What are you communicating, how and in what way you want to sell and above all to whom your product is aimed.
Without a clear view of your company you will not be able to make decisions.
3) Do marketing
Once you have identified the situation of your shop and understood that there is still a lot of room for growth and evolution of your business, then it is time to communicate, to see your shop as a company and not as a shop.
Start by studying the competition, find your goal, choose an appropriate positioning, create suitable marketing content and advertise it with the available technological tools.
The world is constantly changing and we cannot sit and watch its changes but with the helm in hand we must make sure that we are part of the change.
contact me now and request a free consultation, or look at all the services I can offer you, to enhance your brand and give the impetus you want to your business.