The High Street Is Dying, Can Your Business Survive?
In 2016, we have seen more shops close down than ever. Either they have been beaten by the online competition. Or, the shop owners have decided to take their business online. We suppose this is one possibility when trying to survive the death of the high street. Rather than continuing to fight, you can just give up and switch to the online model.
There are plenty of advantages to this possibility. A fresh source of demand that you can feed into, increases in customers and cheaper costs. But what about businesses that don’t want to give in just yet? Is it possible for these shops to stay open on the high street? We think so.
Rather than switching to an online model of business, you can simply relocate the company to another area. The high street may be dying, but business in shopping malls is booming. If you want to see increases in sales and a steady supply of demand, buy space in a mall. Malls are packed in the evenings and on the weekends with hundreds of people looking to buy.
Getting a space in a new mall won’t be cheap. Some even have certain standards that they will want shops to match. Look and presentation is often of great importance. However, there is no doubt this type of relocation could do wonders for the bottom line of your business.
Efficient And Consumer Friendly
One of the reasons the high street is dying is because it’s easy for customers to just buy online. One click, a few days wait and their product arrives at their front door. It’s a hard model to beat, and while they can’t beat it, business owners can certainly rival it. They can make their business model as efficient and as effective as possible. The secret to this is using all the technology at your disposal.
For instance, credit card merchant services will allow you to setup your company so customers can buy how they want. You can even use contactless payments to make processing faster than ever. Some stores offer the possibility of using portable scanners. Customers can make purchases as they walk around the store.
Sales And Deals
You should be offering customers sales and deals on a regular basis. Most online shops feel like they don’t have to offer constant sales. They’ve got the best model business and due to this, there’s no need. This opens up a way in which retail shops can beat online stores. Offline deals are attractive and will get customers to walk through the door. All you need to do is constantly come up with deals that are attractive to customers and won’t cause profits to drop off.
Mixing The Old With The New
Finally, you can keep your store open and still use online marketing. In fact, online promotion can be useful for businesses that exist in the real world. Using local SEO, you can get the customers to shop with you and promote your company to the biggest audience possible. At the same time, though, they will still be making the final purchase in store.