Cookie Preference Centre

Your Privacy
Strictly Necessary Cookies
Performance Cookies
Functional Cookies
Targeting Cookies

Your Privacy

When you visit any web site, it may store or retrieve information on your browser, mostly in the form of cookies. This information might be about you, your preferences, your device or used to make the site work as you expect it to. The information does not usually identify you directly, but it can give you a more personalized web experience. You can choose not to allow some types of cookies. Click on the different category headings to find out more and change our default settings. However, you should know that blocking some types of cookies may impact your experience on the site and the services we are able to offer.

Strictly Necessary Cookies

These cookies are necessary for the website to function and cannot be switched off in our systems. They are usually only set in response to actions made by you which amount to a request for services, such as setting your privacy preferences, logging in or filling in forms. You can set your browser to block or alert you about these cookies, but some parts of the site may not work then.

Cookies used

ContactCenterWorld.com

Performance Cookies

These cookies allow us to count visits and traffic sources, so we can measure and improve the performance of our site. They help us know which pages are the most and least popular and see how visitors move around the site. All information these cookies collect is aggregated and therefore anonymous. If you do not allow these cookies, we will not know when you have visited our site.

Cookies used

Google Analytics

Functional Cookies

These cookies allow the provision of enhance functionality and personalization, such as videos and live chats. They may be set by us or by third party providers whose services we have added to our pages. If you do not allow these cookies, then some or all of these functionalities may not function properly.

Cookies used

Twitter

Facebook

LinkedIn

Targeting Cookies

These cookies are set through our site by our advertising partners. They may be used by those companies to build a profile of your interests and show you relevant ads on other sites. They work by uniquely identifying your browser and device. If you do not allow these cookies, you will not experience our targeted advertising across different websites.

Cookies used

LinkedIn

This site uses cookies and other tracking technologies to assist with navigation and your ability to provide feedback, analyse your use of our products and services, assist with our promotional and marketing efforts, and provide content from third parties

OK
BECOME
A MEMBER
TODAY TO:
CLICK HERE
[HIDE]

Here are some suggested Connections for you! - Log in to start networking.

Things To Consider When Opening a New Retail Store - Sophia Belnap - ContactCenterWorld.com Blog

Things To Consider When Opening a New Retail Store

Did you realize there are over 1 million retail stores in the United States? There is no denying just how much Americans love going shopping. If you are thinking of using your knowledge of shopping and the world of retail to open your own establishment, you need to work on developing a detailed business plan. Failing to have this plan can result in a number of mistakes being made.

 

Rather than allowing these mistakes to rob your business of the potential it has; you need to hedge your bets with a great plan. Here are some things you need to consider when trying to open a new retail establishment.

....NOTE - content continues below this message

DON'T MISS THIS!

We invite you and your colleagues to join us LIVE as we take the highest rated industry conference to the next level! the 2022 World's Best! - join us and the elite in the industry at the 17th annual NEXT GENERATION Contact Center & Customer Engagement GLOBAL Best Practices Conference!

>>>>> FIND OUT MORE: HERE


....CONTENT CONTINUED BELOW

 

Performing Market Research is Crucial

 

One of the biggest mistakes you can make as an entrepreneur is starting a business without performing market research. If you want to provide consumers with a unique retail experience, you need to vet your idea. Making sure there is an actual market for the products you will sell in your new establishment is vital. Failing to do this can lead to your new retail business venture failing in fairly short order.

 

As you start to perform this research, be sure to identify who your competition will be. Knowing more about the competition and the success they have achieved can help you see if there is room in this space. The more you know about the retail scene in your local area, the easier it will be to start your new business with confidence.

 

Choosing The Right Location Takes Time

 

Once you have performed market research for your business idea, you will need to focus your attention on finding a commercial space to lease or buy. Most areas have tons of vacant commercial spaces on the market, which can make finding the right one difficult. The key to getting a good deal on a high-quality retail space if working with an experienced real estate agent. These agents will be able to provide you with access to the buildings at your disposal.

 

Going in and touring each of these options is the only way to make an educated decision. As you look at each of these spaces, you need to consider things like size, location and price. Ideally, you want to choose a retail commercial space that is located near other successful retail establishments. This will allow you to take advantage of the traffic these businesses are already attracting. Choosing the wrong space for your new retail business can be disastrous, which is why you have to take your time when making this important decision.

 

Make Sure Your Prices Are Competitive

 

The first thing most consumers look at when visiting a retail establishment is their prices. If your prices are far higher than the competition in the area, you will have a hard time making your new venture profitable. This is why you need to do your homework to get a feel for the going prices on the goods you will sell in your new establishment.

 

Be sure to also check the prices of online retailers that sell similar items. Many people look online to find the products they want and then search them out in their local area. This is why you have to make sure your prices are in line with online competitors as well.

 

Don’t Forget To Market Your New Business

 

Another important factor to consider when opening a new retail business is how you will effectively market this venture. One of the most effective and affordable ways to get the word out about your new retail store is digital marketing. Getting a website developed and setting up profiles on popular social media platforms can help you attract a wider audience.

 

If you don’t have the time or experience to market your business online, hiring professionals is a great idea. With their help, you can make your new retail establishment a big hit.

 

It’s Time to Get Started

 

Using the tips in this article can help you get your new retails establishment off the ground in no time.

Publish Date: February 20, 2021 7:23 PM

About us - in 60 seconds!

Submit Event

Upcoming Events

17th Annual NEXT GENERATION BEST PRACTICES CX & CC Conference & Expo aimed at those who operate in North and South Americas, Europe, Middle East & Africa, Asia Pacific will help you with award-winning strategies and tactics from the best in the regio... Read More...
 1719 

Newsletter Registration

Please check to agree to be placed on the eNewsletter mailing list.

Latest Americas Newsletter
both ids empty
session userid =
session UserTempID =
session adminlevel =
session blnTempHelpChatShow =
CMS =
session cookie set = True
session page-view-total = 1
session page-view-total = 1
applicaiton blnAwardsClosed =
session blnCompletedAwardInterestPopup =
session blnCheckNewsletterInterestPopup =
session blnCompletedNewsletterInterestPopup =