About 83% of shopping journeys are for repeat purchases, even in the so-called “Fashion” categories. That’s a huge percentage of trips to your store. Instead of chasing a whole lot of what’s new, put your customer first and think about how you can easily service their replenishment needs.
The single most important thing to do is make sure your POS system is accurately tracking your customer’s online & in-store activity. Your overall goal will be to integrate your website and physical store into ONE customer focused entity.
Your replenishment strategy will leverage an increase in the share of wallet you are getting from current customers and as we know, that is much less costly than using new, trend items to cultivate new customers.
Use your integrated POS system (or your separate systems if that is what you have) and then tie into your loyalty program to create comprehensive current data in your customer profiles. Use these profiles to determine which customers repeat purchase and what it is they continually buy.
Then make it easy for your customer to repurchase! Here are some ideas to get you going:
Run promotions. Offer discounts, two-fers, introductory offers for similar products, bundles, etc. based on item, brand or category driven purchases.
Run tailored ads to drive traffic in the same way. Always consider the item, brand or category driven customer as you create and target these ads.
Send out reminders when it is likely your customer will need to replenish. If the average replenishment on underpants in your store is 8 months, you could send out a reminder coupled with a promo or tailored ad to this customer every 8 months. You might consider sending several offers (the same or different) at month 7, month 8, month 9.
Consider a subscription service. Are there related items purchased on a similar schedule? If so, create a subscription price and timeframe for these items for the customer. I buy 3 daily supplements for my dog on a 90-day basis. You could offer me 10% off my total purchase, free shipping and a 90-day cycle guaranteed if I subscribe. The 10% off and free shipping offers a solid savings over the year AND I don’t have to remember to order. This truly puts your customer first.
About 83% of your sales are repeat purchases. Integrating your available technology, collecting current data and using it effectively to drive a CUSTOMER FIRST store is a win for your customer and a win for you.
Need help with this strategy? Contact: Anne Cecil, ONO made in the 191, firstname.lastname@example.org.
Being sustainable CAN help your bottom line and you are doing good at the same time. Save money and boost your brand story with these 5 tips.
1. Use found objects, items in the donation pile, packing materials, etc. in your window and in-store displays. You can even move them around and use them in different ways over several display cycles.
2. Bring in some positive energy with some live plants. Strategically placed, these can help draw your customers through your store. Make sure you are up for the commitment. Nothing says "I don't care" more than dying or dead plants.
3. Leverage natural light wherever possible and invest in LED bulbs for the rest. LEDs are more expensive up front, but they last a long time. For further savings install motion sensors on lights that turn on and off in your offices, store rooms and warehouse. Consider adding programmable thermostats to keep your space warm or cool as necessary.
4. Go paperless with email receipts. It's a great way to add new customers to your database and it helps to keep your brand top of mind. You can always add a special offer, coupon, or other incentive on the email only receipts.
5. Yes everyone is doing them, but a reusable branded shopping bag does save you money on bags and promotes your brand. Remember, a person will remember a brand after they have seen it 7 times. Get them out there and working for you. Consider offering a small incentive like a small percentage off, or a small donation to a charity to encourage use.
Tell everyone when you implement each of these. Good for the planet, loved by your customers and good for your bottom line. There's no downside. Implement today.
Anne Cecil, ONO made in the 191, email@example.com