In India business is no more restricted to a particular caste, but it is now a part of every family. But there is some kind of insecurity among retail store owners due to the online business. The most disturbed markets are fashion clothes and handicrafts. The bigger companies like Flipkart, amazon etc. provide a huge discount on various items and hampers the traditional business. Even if these traditional shoppers try to provide some kind of “Sale” but they don’t have that big margin. There is a strict need to improve this traditional market.
How Traditional Businesses work?
Let’s say your retail store is located in Ahmedabad and there is a huge demand of Kanjivaram Silk Sarees found in the southern part of India. Then there occurs a need to go to south and any buy sarees. Can you imagine the cost involved in this whole purchase, including your travel, margins of dealers etc.? That will be huge! But ordering such things through online wholesale stores can be a real benefit. There will be no loss in your retail store during your travel as you can order online sitting anywhere. So the first awesome step for a good retail store is to purchase goods by online wholesale stores.
The second step of running a traditional business successful is to decide the business as per the location. Another way is to don’t keep a huge stock, especially for fashion clothes and eatables. It is always better if you keep different articles in your stores rather than keeping a limited edition. There are several other points which can bring business to your retail store and we are going to discuss it below:
1. Buy directly from online wholesalers:
This is the time for technology and the best way to get updated about diverse things without going physically. Now the businesses have also come online. There are websites or channels which connect the retailers to manufacturers and protect you from the margins of distributors and channels. This direct channel will always give you the best price as the prices are online and you can compare it with other wholesalers. Also, it is beneficial to reduce the traveling costs.
2. Store location matters a lot:
Fulfill your dreams of having a store with a proper store location. It becomes really important to know the nearby crowd of your store. Find the nearby shops, people and the sales of the market so that you can estimate what kind of articles will be better to sell. Try to have the shop in areas of high traffic. For a new store, you can also go some branded franchise to earn popularity. Choosing a location just because it is nearby to your house is not a good option and check all the circumstances for best outputs.
3. Keep minimum Stock:
Stocking shelves are the toughest task and the biggest mistake in some of the cases. It is not suggestible to keep a lot of stock because of fashion changes like a flash of light. For stores in which you sell eatables should also have limited stock because there are high chances of damage if not sold out. In such cases, you can always opt for online wholesalers who can provide you delivery for products instantly without paying much for traveling.
4. Proper Hiring:
If you hire dull and boring people, then forget about sales. In retails hire a dynamic and impressive salesman and other people. The young people always try to do better and learn more from your business. Before hiring always gather knowledge about their hobbies, interests and their mentality about your business. It is important to tell them about your market and explain about the products in details.
5. Run your business on the clouds:
Try to replace your on-premise software with cloud-based to avoid headaches when you are not available in the shop and unexpected errors in your device. The things like sales, inventory, etc. are really important to be on the cloud.
With all these provided options you can make your typical retail store as an awesome store with real time benefits. It is the time for digital India and time to digitize your store without taking a second thought.