When you look at all the retailers that are out there, you may come up with a few that should normally be successful because they sell products that everybody needs. This is for instance the case for furniture stores. While furniture items are among the most demanded products by households, only a small number of furniture stores are actually able to generate high profit margins. This article discusses how to make a furniture store successful.
Are you offering value?
Each furniture store has its own features, which is why there's no guarantee that a business strategy that has brought success to one furniture retailer will also do the same to yours. The best thing to do is find a way to help your store distinguish itself from the others in a given city. You may do this by identifying the needs and tastes of the customers living in the area where you opened your store. With such knowledge, you should be able to design a merchandising, advertising, and pricing strategy that will maximize your business revenues' potential.
Another way of offering value is by ensuring that your customer service is of top quality. While it's true that finalized transactions are what you're going to look at the end of the calendar year when reviewing business performance, the quality of service provided to every person walking into the furniture store is also very important. Most of the individuals who walk in furniture stores have a vague idea of what they are looking for. They sure know which type of product they want to buy i.e. a mattress or a sofa bed, but don't have the specialized knowledge to know which one will best suit their needs. This is one of the aspects of running a furniture store for which customer service is particularly needed.
In other words, when hiring new sales reps you need to ascertain that you only choose those that have demonstrated that they share the same view as yourself when it comes to high quality customer service, and extend it to your clients.
Make your furniture store known
There are many ways to get the word out about your furniture store, and the good news is that most of them are affordable. If you've just launched your store, then chances are that your financial resources are limited, which means that you should make every dollar spent count. Your advertising campaign must reflect a number of things including:
- A good knowledge of the local market
- Highlight your strengths
- Emphasize the free services that you offer such as free delivery
- Focus your advertising efforts on a smaller radius
Sell quality products
It's one thing to advertise on several media outlets that you're selling top quality furniture products, and it's another to actually have them in your store. You don't want to be in a situation where you're being discredited instead of gaining popularity with local customers. To make sure that your advertising campaign is perfectly aligned with what your store has to offer, you need to:
- Deliver on your promises
- Make sure that your products match with the needs of local customers
- Pay special attention to the feedback, especially when items are returned
- Give clients access to a wide selection of products
- Offer more than popular furniture items such as mattresses & bedding products instead of only selling mattresses
Making a furniture store successful isn't a process that can be completed overnight. Indeed, it demands a lot of rigor, discipline and patience since the effectiveness of whatever effort you put in the business will later be measured in terms of the sales' impact.