Tough Love

5 Ways to Compete

October 16, 2018

One of the most common complaints we hear is how difficult it is to compete with online vendors and big box retailers.

I’m here to tell you that there is HOPE!

Today, consumers are more beauty obsessed than ever before and their desire for everything beauty is at an all-time high!

The question is, are you willing to adjust your retail approach to adapt to what consumers want?
We can no longer expect our customers to come back another day because we’re out of stock. And the days of expecting our products to sell themselves are over!

Small changes can make a big difference.

Be a Beauty Destination

Make sure that you have a minimum of 4 deep of each product on your shelves at all times. It only takes one time for a client to request a product that you don’t have in stock for your business to be viewed as an unreliable beauty resource.

Spread the Word

Today’s consumers almost always read product reviews and continuously seek product knowledge, so the more information you put out on your services and products, the better. Create a social media posting calendar where stylists and experts discuss their favorite product picks and why they love them.

Feature It

It is a known retail fact that merchandise sells at a much slower pace when against the walls than when featured on tables. Displays are the secret to effective retailing! If you don’t have room in the waiting area, then make some needed changes to accommodate at least one feature table.

Take a 360 Degree Approach

Coordinate and conquer! Make sure everyone is educated and focused on what is featured on your display tables. Establish the WHY behind each product and spread the word! Use your window, social media and email blasts to transmit the WHY behind your featured products (i.e. holiday glam, the perfect blowout, etc.).

Make a Plan

Dedicate time to plan your retail strategies, seasonal opportunities, loyalty programs, windows and tables, social media posts, and special promotions. It takes a village to compete, so pull in as many team members as necessary to help create a cohesive and attainable plan. Take advantage of everyone’s diverse skill sets to make your business competitive and profitable.

Bonus Tip: be proactive and get inspired by your competitors. Look at what they’re doing well and emulate them, or do it better!

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