Thinking Differently About Your Business
STORIS just got back from Furniture Today’s Leadership Conference, which focused on the theme: The Transformation Imperative: Leading Change in a Volatile Marketplace. The conference centered on the changing landscape of the home furnishings retail industry and inspired retailers to think differently about their businesses. This topic inspired us to highlight three ways to explore change within your business.
Take eCommerce seriously: It’s no secret that online retail has made its way into the home furnishings sector. To be competitive, you should have an intuitive website that allows buyers to view products and order merchandise online. In order to make your operations more seamless, it is important that your eCommerce site is in tune with your brick and mortar store. But, when we say website, we don’t just mean a website that is “good enough.” We mean a better than good, attractive, easy to use website that stands out from the crowd. With an intuitive software solution and an integrated website, your stock, availability and prices will be up to date when shoppers go online.
Cater to your demographics: You’ve probably heard many statistics and stories about the current buying habits of millennial customers. It is true that the younger generation is making up a majority of the buying population, which means you should have not only merchandise, but marketing strategies that will appeal to these individuals. But, don’t just focus on one demographic. You probably know someone in each age group, from baby boomer to Gen Y. Would your friends buy from your store? Would your children like the merchandise you have in stock? Think about all of the generations that may be shopping in your store and devise a plan to cater to all of them. A Customer Relationship Management tool can help you segment different people based on buying habits and trends. Try catering to different groups of people in diverse ways to make your efforts more targeted and meaningful.
Be on top of the latest in tech: Technology is only ever moving forward, so you need to make sure your business reflects that. Shoppers no longer have patience for long lines, written tickets and outdated technology that slows down the selling process. Excite your customers and your employees with your business’ capabilities, whether it be showroom floor mobility of tablets or impressive receipts that reflect your brand. Staying ahead of the competition by taking advantage of the technology that is available will help take your brand to the next level.
As a retailer, you are probably always thinking of ways to improve your home furnishings business. Being inspired by change and utilizing the tools to help you achieve it will allow you to find success. We look forward to joining retailers at the Furniture Today Leadership Conference to discuss the future of the industry and help you make positive changes for your business.