In today’s competitive market place, you need an edge. But where do you find it? Do you just sit around waiting for a magic wand or the perfect merchandise to appear? Not in this world! The answer is actually staring you right in the face ... you must learn from your competitors!
Here’s what you need to do:
- Start by getting out of your store and visiting your competitors. While you’re at it, check out the best retailers in your mall or downtown area as well!
- Take the time to learn about their products and pricing. If you do this well, you will become much more knowledgeable and effective on your own sales floor. When you can tell customers what the competition offers and how your store provides better service or value, you'll close more deals in a shorter period of time!
- Learn how your competitors sell (the good things as well as the bad). Take these lessons back to your own store.
- To get more out of your research, create a simple form that you'll fill out after each shop. This will ensure that you look at the right things and use them properly when you return.
- Remember ... never knock the competition or the products they sell. Always be the consummate professional!
See? Retail success requires more than just knowing how to sell.
You must also know your company, your product, your customers ... and the competition!
So get out there and develop the edge you need!
Want to learn more about this topic?
Linda Montalbano is a true retail operator with a history of leading large retail teams to success. If you need a fresh perspective on what's going wrong in your stores, Linda is the one to tell you like it is and come up with a solid game plan to turn things around!