How to Increase Store Sales

Topics: Sales, Retailing, Marketing, Pricing / Pages: 2 (441 words) / Published: Jul 15th, 2013
Tips to Increase Retail Sales
What to do When Sales Slump
From Shari Waters, former About.com Guide
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Whether it's due to forces beyond our control, seasonal sales or a decline in foot traffic, many retailers will experience a slump in sales at some point. The following are a few simple ways you and your staff can improve your retail sales.
Advertise More - Just when you may think it's time to cut back the marketing dollars, you should probably be advertising more. It is wise to increase marketing efforts during slower sales periods because there is more competition and fewer consumer dollars. Considernewspaper ads, magazines, specialty publications and other forms of marketing.
Generate a Buzz - Whenever anything noteworthy happens within your business, send a press release to the media. The idea is to grab any free coverage possible. Get involved with community events. Consider hosting classes, meetings or other networking events in your retail store. Use a uniquepromotional event to generate a buzz about your business.
Examine Your Pricing Strategy - When purchasing and pricing products, be sure you've considered the cost of goods and that your retail shop is able to make a profit at that price point. Your product price should be competitive, but still profitable. Ultimately, the right price is the price the customer is willing to pay for the product.
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