Having more customers means you have a greater potential for more sales each day and, therefore, a better likelihood of higher profits. To be able to serve more customers, you may need to look at their individual needs. This may involve considering why some people may not be using your store or product, and seeing if it is feasible to adapt to accommodate them. This may not always be a possibility, as your budget can only go so far, but even some small changes may affect the number of people buying your wares.
Taking Card Payments
While some customers may like to pay with cash, more and more people are only carrying their cards on them, and try to avoid using paper money and coins wherever possible. If you have previously been a cash-only business, you may wish to trial different merchant services that will enable you to also take card payments. This means that those individuals who prefer to pay by card will then be accommodated and you won’t lose any sales.
Being able to take card payments will also help you to avoid the likelihood of receiving counterfeit notes. If people still do wish to pay with cash, you may also want to invest in a note checker so that you can guarantee you are being legitimately paid.
Online Sales
A lot of people enjoy being able to make their purchases online. This can save the hassle of needing to trawl around a store, and can greatly improve the likelihood of purchases, from those who work or have hectic personal lives, from people who ordinarily would not have had the time to browse in-store. There are a number of benefits to hosting an online store, such as reduced costs, however this does not mean that you need to close the doors on your physical store. It can also allow you to serve a wider area, particularly if items can be shipped across the country, or even the world.
Deliveries
You might also wish to consider the option of having items delivered in the local area, as opposed to a collect-only service. This could entail you hiring another employee whose sole purpose is to make the deliveries, or to undertake them yourself outside of your store opening hours. For many, particularly the elderly or disabled, deliveries are vital to them being able to receive their goods, especially if they are housebound. To combat the costs of fuel, working outside your regular hours, or hiring another employee, you may wish to affix a charge to this service.
Deliveries may also be something that you only offer to vulnerable customers, to ensure that you have the availability to make these trips, and to limit your travel radius so that you do not spend the majority of your evening driving. You could also consider posting sold items, to reach a wider customer base.
Considering the untapped aspects of your business can go a long way into increasing your target market. By thinking about the needs of those who would be likely to buy from you if you adapted your working practices, you may be able to maximise both your profits and customer satisfaction.
