Top 5 Ways Retailers Lose Customers

Without customers, we wouldn't be in business. That is why it is surprising how easily retail stores drive customers away. And with the onset of online retailing, the competition for the customer has never been greater. The demand for an exceptional shopping experience has never been higher from customers. in a recent study I conducted, we fond the there is only a 50/50 chance that a customer will return to a retail store if that store meets it expects ions. That tis less than half when you meet their expectations! 

Simply put customers want their expectations exceeding not met. But too often, retailers have practices in place that work against an exceptional buying experience. 

Here are five simple ways to lose your customers:

Wrong Product Pricing

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Besides cost, some of the things to consider when choosing the best strategy for your retail business are the market, the channels of distribution and the competition. Here are a few of the more popular pricing strategies to consider. More

Terrible Customer Service

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It's inevitable that there will be the occasional disgruntled customer. No matter how wonderful your products are or how committed you are to provide the best customer service, problems do occur. Armed with the following customer service tips, you can diffuse a situation and possibly even save the customer, as well as the sale. More

Poor Store Atmosphere

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As retailers, we can't afford to turn off a single customer and image is everything. Take a look around your retail store. Do any of the following situations exist? Here are ten ways your store may be turning off customers. And here are some thoughts on store design to help you as well.  More

Not Knowing Your Competition

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It's important for new businesses to complete a competitive analysis during the business planning stage, but competitive intelligence can also be useful for marketing, pricing, managing and other strategic planning for retailers. Before you can know your competitive edge, you must know your competitor. More

Lack of Product Knowledge

Retail product knowledge
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It is difficult to effectively sell to a consumer if we cannot show how a particular product will address a shopper’s needs. Learn some of the benefits of knowing the products you sell. And remember to "feature" the benefit.  More

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