Retail business is a business that sells all kinds of merchandise that is not limited to lower-priced goods, but also high-priced goods. Each store that has fixed location and open every day for immediate consumption can be considered as a retail stores. Things that must be considered to open a retail store in first time are:
Location is an essential element for almost all retail outlets. A store requires good traffic every day. Looking for a strategic place and has a good traffic is the first step to introduce the store to potential customers.
2. Products merchandise
After having a strategic place, the second thing to consider is the product to be sold. Calculate the selling price to be affordable and in line with the target market area. The most important thing is to understand about the product that will be sold. Variations in prices and discount policy in certain events will attract customers for visits to your store. Inventory levels should be monitored at all times to avoid any gaps that could eliminate the lost sales.
Employees are the ambassador of the store. Customers want employees who are well trained and helpful to assist their needs. They want to be associated with store employees who know where the goods they needs and can answer questions and complaints they have. A store employee should understand the concept of excellent service, and understand the products that are available in store. If a store has a friendly staff to serve its customers, it is certain that the store will grow.
4. Product display
The Art of displaying merchandise in an attractive way must be possessed by a retail storeowner. If a product is not seen or displayed correctly, then the product will not be sold to the fullest. Product that sells should always look fresh and easily viewed at any time. Important and valuable product should be placed in strategic places in order to improve impulse buying customer. If the products are varying, the preparation of products according to customer usability will make it easier to find.
5. POS System
Modern retail stores should have a POS (Point Of Sales) system that not only supports the transaction, but also supports the collection of information about the fast moving, slow moving, and the dead stock products. POS System will be maximal if it can provide a promotion system, providing information on customer data, and the latest stock information. POS System is easier for storeowners to manage his store.