If you have been caught up in the sudden wave of hysteria that seems to be sweeping retail stores regarding online shopping that is destroying the market for brick and mortar businesses – there’s hope. Nordstrom Inc. (one of the largest luxury department stores in the USA) has proven that department stores are not dead yet, and don’t have to be in the future either. Nordstrom Inc. most certainly focuses on offering customers an in-store shopping experience that’s phenomenal and as such, they’ve enjoyed a 7.7% increase in profits this year! Of course, there’s much to be worried about. Not all businesses are going to enjoy the same impressive results, especially if they have an in-store experience and marketing strategy that are anything less than exceptional.
How can you drive more traffic to your stores and make sales? Nordstrom Inc. certainly isn’t closing down any stores, but they are cutting back on overheads and are offering consumers massive price slashes in-store, to get people shopping. Cutting back on overheads is a great place to start. The next step is to provide your customers with a shopping experience that they will never forget. Get to work on in-store promotions, offer rewards and discounts, take full advantage of clever experiential marketing ideas – there’s much to be done and there’s every possibility that your brand and products can soar to the top and stay there.
Keep in mind that marketing is not something that you can just do once. It’s an ongoing and consistently changing effort that must be made to get your brand recognized, trusted and turned to.
It’s also important that you don’t turn a blind eye to the massive success of online sales. Remember that your business can benefit from online sales too and that you can use experiential marketing to tie in both your online and in-store marketing strategies. The more available you are to your customer, the better your business will do! Don’t forget that.
It’s time to capitalise on your opportunities and earn the respect and loyalty of your consumers by engaging with them and using the collected data to make smart business decisions going forward. It’s all about a mindset and your approach to your marketing. Consider that online stores are not the enemy, but rather provide you with the opportunity to offer your customers a more satisfying and rewarding customer experience. After all, you don’t have to just operate online or within a mall / on the street. You can do both!
To learn how to engage with your consumer and to learn more about experiential marketing and brand activations in-store, contact us via email or telephone at Tradeway today.