The 5 Basics of Retail – What do you think?

5BasicsOfRetail

There are a lot of things that are done to get the customer to your business. And there are a lot of things that can be done post customer purchase, to understand their experience. World class retailers however understand that a customer’s retail experience can be summed up by “The 5 Basics of Retail”:

1.) Make it easy for customers to GET INTO your store
2.) Make it easy for customers to find the PRODUCTS they want
3.) At PRICES that are fair
4.) Make it easy for them to PAY for the product
5.) Make it easy for them to GET OUT of your store

While world class retailers get this, there are a number of other retailers that seem to find this challenging. For example:

  • They will make it easy to find the right PRODUCT, but it hard to GET OUT, because there are too few registers open
  • Or they have great prices but don’t let you know what your PAYMENT OPTIONS are
  • And a range of other competence combinations, of the 5 elements above

Why do some get it right, and others can’t even seem to do the basics well? There are various reasons. One thing that would help is making all retailers aware of “The 5 Basics of Retail” in the first place.

What are your thoughts?

And please share this with others. We all need to get to a better place more quickly. Thanks.

#retail, #5BasicsOfRetail, #IntegratedThinking, #business, #strategy

Also, we need to make things better more quickly. Here are 6 conversations that can help: http://goo.gl/ykbAWv

More can be found @ https://goo.gl/JInBfi

 

Have questions? Want to schedule a “Lunch-n-Learn” or a workshop? You can reach me at kkring@gmail.com

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