How to Increase Retail Sales: Top 25 Expert Tips

October 25, 2023

25 min read

Data from the U.S. Bureau of Labor Statistics (BLS) shows only 25% of new businesses make it to 15 years or more. Other than unforeseeable market fluctuations, the main reason is poor management, including a lack of effective marketing strategies and subpar customer service.

Even if your business isn’t new, navigating trends and unlocking opportunities to stay profitable will always be challenging for a business owner. Fortunately, as retail consulting experts , we know there are effective strategies to maximize your sales and grow.

In this blog, we share results-driven retail sales tips and tactics on how to increase retail sales.

1. Find Your Store’s Peak Hours

According to the 50/20 rule , half of a retail store’s total sales occur during its 20 busiest hours of the week. So, if you’re brainstorming how to increase sales in your retail store, the first step is to optimize peak hours.

Whether you have a brick-and-mortar or eCommerce store, historical sales data will show you which days and times are busiest. Knowing your peak hours informs staffing, inventory, and marketing decisions.

For example, you may double down on sales during peak hours or run specific promotions at quieter times to improve overall revenue. These choices rest on your current financial standing and business goals.

2. Provide Effective Sales Training

Provide Effective Sales Training

Ideally, the most experienced sales associates with the highest sales closure rate should work during peak hours. Their detailed knowledge of your business and its products makes it easier to offer relevant product recommendations on the sales floor.

Upselling and cross-selling techniques should also be part of your sales associates’ repertoire to increase a customer’s average order value.

  • Upselling encourages customers to buy more expensive versions of the products or services they are already considering.
  • Cross-selling influences them to buy additional products or services related to the ones they are considering. Both are highly effective in increasing revenue.

Research by online marketing software company HubSpot found that 72% of salespeople who upsell and 74% who cross-sell say it drives 30% of their revenue.

3. Make Loyalty a Key Part of Your Retail Sales Strategy

It costs four to five times more to acquire new customers than retain existing ones. Customers buy from brands they trust. The downside is cultivating loyalty takes time.

So, if you don’t have a loyalty program, now’s the time to implement one.

Then you can use these tactics to get the most out of your customer base:

  • Provide existing customers with rewards so they purchase more.
  • Entice first-time customers to return by promising rewards. They often need an extra nudge to come back.
  • Offer bonus items or discounts when customers sign up for store memberships.

Marketing messages via email or SMS about upcoming promotions, birthday rewards, and personalized incentives go a long way in creating loyal customers.

4. Launch Attention-Grabbing Promotions

4. Launch Attention-Grabbing Promotions

The best in-store promotions are time-sensitive and align with point-of-sale marketing.

Some examples of how to improve sales in retail with promotions include:

  • In-store promotions: Increase foot traffic and sales by offering exclusive discounts on minimum purchase amounts, in-store activations, and product sampling.
  • Free samples or gifts with purchase: Provide a tangible incentive for customers to spend more. Examples include a free toy with a clothing purchase, a beauty bag with the purchase of a cosmetic, and socks with a sports apparel purchase.
  • Point-of-sale displays: Emphasize certain sales opportunities to draw attention to specific products, such as buy one get one free.

5. Ensure That Your Store Shows up in Online Search Results

Did you know 93% of consumers use online searches to find local businesses? If a potential customer searches online, will your retail business turn up?

To ensure that customers find your business whenever they search for relevant products and stores online:

  • Create business listings on platforms like Google, Yelp, and Facebook.
  • When creating your profile, add the name, address, and phone number on your site and other listings.
  • Include accurate business hours, reviews, and photos.
  • Display reviews, as customers are likelier to choose stores with more positive feedback.

Doing so will make your business look attractive and draw attention to its location and website.

6. Get a Google My Business Profile

Have you ever searched online for a service or store, and it comes up on Google Maps? That’s because that business has a free Google My Business profile .

A Google My Business Profile lets you stay up-to-date on ratings and reviews, track analytics, and engage with customers. It also makes your store appear more prominently in local search results and Google Maps.

Because most potential customers use mobile devices and search for local businesses online, it is more important than ever for your business to have a presence on Google My Business. Put it this way: If a potential customer searches online and your store doesn’t show up, they won’t know it exists.

7. Make Customers Feel Safe in Your Store

7. Make Customers Feel Safe in Your Store

Follow these tips to create a safe and welcoming environment for your customers:

  • Have a visible security presence: Security guards, cameras, or even a well-lit store make your customers feel safer.
  • Be friendly and approachable: Employees should be welcoming and friendly to customers.
  • Have a clear policy on customer safety: Include information on what to do if a customer feels unsafe. Train your employees on customer safety:
  • Employees should know how to identify and respond to threats.
  • Take customer feedback seriously: If a customer complains about their safety, take it seriously and investigate the matter.

8. Promote Corporate Social Responsibility

Today’s consumers shop at stores associated with a good cause, which is why businesses must invest in Corporate Social Responsibility (CSR).

To engage CSR in your business, there are several actions you can take, such as:

  • Donating a portion of your sales to charity.
  • Being ethical with sourcing or manufacturing products.
  • Supporting community initiatives.
  • Investing in your workforce.
  • Creating or participating in events that are associated with a good cause.

Investing in corporate social responsibility signals you are conscious of and committed to a larger purpose, which creates a virtuous circle of positive effects at both a business and social level.

9. Have Strong In-Store Signage

Customers are bombarded with visual stimuli when they walk into a store. Use strong in-storage signage to cut through the noise and capture attention. Ideally, you want to guide customers through your space, direct them to the products they’re looking for, and highlight new products they are yet to discover.

Strategic places to have signage include high-traffic areas such as cash registers, dressing rooms, and the center of your store. Once you’ve created your signage, test it and ask for staff and customer feedback.

10. Be Smart About Your Sales Targets

Consider multiple factors when creating a sales forecast tailored to your business, such as recurring revenue, contracts, expenses, product life cycles, and industry dynamics. You should also monitor the performance of each sales rep compared to the previous year and utilize data from account segmentation and scoring.

Consulting with your sales reps will provide valuable insight and facilitate more achievable and realistic targets. Lastly, implementing a rolling forecast rather than a traditional annual or quarterly schedule can create greater forward visibility and identify any potential risks or opportunities.

If you need help setting realistic targets or are unsure what the general benchmark is, our sales strategy consultants can help. Schedule a consultation today!

11. Tell an Authentic Story that Resonates

Tell an Authentic Story that Resonates

Customers love authentic brand stories because they foster a meaningful connection to businesses. Your brand story helps them better understand and relate to your products and services and perhaps appreciate them even more.

As part of your retail marketing strategy, you must craft an authentic brand story. Focus on creating a narrative that conveys the unique values behind your business and is relatable to your target audience.

Highlight the “why” of your product or service, its unique features, and how it meets your customer’s needs. The point is to create a genuine emotional connection between your customers and your brand

12. Ensure Your Products Are On-Point

Having the right product assortment is critical to winning more sales. To keep your store’s assortment fresh and profitable:

  • Stay on top of your inventory data.
  • Track advanced metrics like gross margin return on investment (GMROI), sell-through, and inventory turnover to gain insight into product performance.
  • Forecast your demand using historical data and current trends.

Always be sure to have enough liquid capital to order products promptly. Hot-foot it with suppliers and set up stock level alerts to ensure you’re never out of stock. With these tactics, you can be sure your store’s product assortment will help you win more sales.

13. Automate Your Retail Sales

Generating retail sales can be a real challenge, so don’t make it even more difficult on yourself by trying to do everything alone. Automation is critical in helping keep sales up without you being constantly involved.

Utilizing a marketing automation platform can make this process so much easier. It takes your customer database and segments it to pinpoint those who have not purchased anything recently. From there, you can craft re-engagement email campaigns to draw their attention to your merchandise.

Maximize efficiency and profitability with our performance improvement solutions

Maximize efficiency and profitability with our performance improvement solutions

14. let customers try before they buy.

While only appropriate for some types of business, try-before-you-buy gives customers firsthand experience with your product and the opportunity to discover if it fits their needs and expectations before making a purchase.

This lets customers assess your service, pricing, quality, and other aspects of your product, helping them to make a more informed purchasing decision.

When customers can try a product first, they’re more likely to make a purchase and be more satisfied because they know what they’re getting. Plus, it’s a great way to build trust and improve customer experience.

15. Offer Different Payment Methods

Offer various payment options that make it easy for your customers to pay.

Some ideas include:

  • Mobile wallets: A contactless payment that allows customers to pay with their smartphones.
  • Credit cards: Still the most popular payment method in the U.S., credit cards offer a variety of benefits, such as rewards and purchase protection.
  • Debit cards: Similar to credit cards, they deduct the purchase amount directly from the customer’s bank account.
  • Gift cards: A convenient way for customers
  • to purchase goods and services. They can be purchased in-store or online and can be used at a variety of retailers.
  • Buy online, pick up in-store (BOPIS): BOPIS is a service that allows customers to order items online and pick them up in-store.

16. Create an Engaging Environment

16. Create an Engaging Environment

Other ideas to increase sales in retail stores include creating a comfortable and inviting environment that can encourage customers to linger and spend more money.

Here’s how to create a positive atmosphere in your shop:

  • Use dim and warm-colored lighting.
  • Play soft music in the background.
  • Use decorative elements that are pleasing to the eye.
  • Choose a signature scent for your shop. Studies show that customers spend 11% more in a store that smells good. Choose a scent that is appropriate for your target market. For example, a flowery scent might be more appealing to women, while a woodsy scent might be more appealing to men.

17. Have a Simple Loyalty Program

Points reward programs are the most basic and popular loyalty initiatives, and they can be very effective. The concept is simple: the more customers spend, the more points they earn. Starbucks, BestBuy, and Sephora all use them!

Every time a customer interacts with your brand (for example, by making a purchase online or in-store), they earn a fixed number of loyalty points associated with that action. This encourages them to accumulate points until they have enough to redeem for rewards, including discounts, free gifts, special offers, and more.

This retail loyalty program works best in businesses with high levels of overall purchase activity. It thrives in an environment where customers can quickly accumulate a significant number of loyalty points in a short period.

18. Speed Up the Buying Process

Mobile POS systems reduce wait times and improve the shopping experience by allowing sales staff to process payments and complete transactions anywhere in the store. Sales staff can use mobile POS systems to answer customer questions, make recommendations, and process returns. This creates a more personalized and convenient shopping experience for customers.

Sale optimization consulting experts also encourage retail stores to use Mobile POS systems as they support curbside pickup. This allows customers to order online and pick up their purchases without entering the store. A curbside pickup is a popular option for busy and decisive customers who already know what they want. And it improves online sales.

19. Offer Customers Personalized Service In-Store

19. Offer Customers Personalized Service In-Store

Customers appreciate personalization. Creating an experience where each customer feels like a familiar face upon entering the store, regardless of the staff on duty, will solidify the notion that your business offers them something special. Leveraging technology can give your sales associates a notable advantage, particularly your retail point of sale system.

For instance, software is available for iPad POS systems that provides sales associates with access to a database of customer profiles right at their fingertips. When a customer visits the store, a sales associate can access their profile and offer recommendations based on past purchases, even if they’ve never interacted. This capability allows for consistent, personalized service on every occasion.

20. Understand Customer Movement

Understanding how customers navigate your store is crucial. If your business is new, observe the paths customers naturally take within your space and make necessary adjustments.

While the arrangement of products might seem logical to you, the actual effectiveness of the layout becomes evident when you observe customers moving around and engaging with your inventory. If they struggle to find what they’re looking for, they won’t buy anything.

Furthermore, you should solicit practical feedback from customers regarding your shop’s layout and display methods. Direct feedback helps create a soothing and welcoming environment that encourages them to linger and purchase more goods.

21. Offer Complimentary and Paid Services

Complementary services have the potential to not only attract visitors to your store but also stimulate additional purchases. In-store services clinching deals during peak hours by converting browsers into buyers through added value and bolstering sales during off-peak hours.

Suppose you’ve analyzed the data and identified a trend of peak hours occurring during weekday afternoons. If you’re wondering how to boost retail sales on Sundays and evenings, you could actively promote appointment-based shopping.

For instance, a pet store might schedule a groomer’s presence during off-peak hours, while an apparel store could offer personalized shopping and styling services. These appointments and services would draw customers during quieter times, offering them value beyond the products you offer for sale.

Supercharge your revenue with our sales operations consulting services.

Supercharge your revenue with our sales operations consulting services.

22. use product returns to your advantage.

The key to converting product returns into sales is providing a smooth and pleasant returns experience for the customer. This means making the process as simple as possible and offering services like free returns with select carriers, extended periods for returns, giving customers store credit instead of refunds, and offering personalized customer service.

You can also encourage customers to buy again by offering discounts on their next purchase. Going the extra mile by following up with customers, expressing appreciation for their purchases, and supplying them with helpful product knowledge and tips is a great way to increase the probability of repeat purchases.

23. Optimize Your Counter Area

Customers make impulse purchases when waiting in line. That’s why supermarket counters are stocked with candies and items you wouldn’t usually seek. A great impulse buy could be a practical yet small item like scented candles in a beauty store, a phone case in an electronics store, or energy bars in a health food store.

If you keep the price low and the packaging eye-catching, customers will pick them up in passing. Although only a small percentage of additional sales, these items can significantly increase your profits. Even a modest 5% revenue boost is still a revenue increase. If done right, impulse buys can significantly amplify your overall revenue.

24. Host an Event

Events are a great way to get customers through your doors. To make them more enticing, offer giveaways or other freebies.

Here are some specific examples of events you could host:

  • Special sales: Offer discounts on your products or services.
  • Studio workshops: Allow customers to learn or improve new skills.
  • Contests and giveaways: Prizes could include free products, gift certificates, or trips.
  • Live entertainment: Bring in musicians, comedians, or other performers to entertain your guests.
  • Networking events: Let customers connect with other people who share their interests.

Remember to take photos during the event so you can share a recap afterward and build excitement for your next one.

25. Transform Your Store into a Destination

25. Transform Your Store into a Destination

In the current landscape of abundant online shopping choices, brick-and-mortar stores must devise inventive methods to entice customers. While maintaining excellent products and top-tier customer service remains crucial, you must elevate your store beyond mere purchasing destinations to boost foot traffic and drive sales.

In-store shopping is only partly about the products. For example, boutiques offer personalized shopping or tailoring services. Fitness stores host classes and large legacy companies like Lego let customers (especially kids) interact with their products. You could provide classes, set up testing stations, or add hangout places in-store like Apple.

Conclusion: Increasing Sales in Retail

The above tactics empower you to influence customer behavior. There are endless opportunities for increasing sales in retail, so your customers choose your store as a preferred shopping destination. Understanding the importance of customer service, merchandising techniques, and marketing strategies is the tip of the iceberg.

If you wish to learn other ways to increase retail sales or further optimize these strategies, hiring specialized sales strategy consultants may be beneficial. Cultivate Advisors has helped many retail stores improve top and bottom-line growth by pinpointing blindspots and refining existing sales processes.

Call us today to schedule a consultation .

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More From Forbes

14 simple but effective techniques to increase sales.

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Businesses worldwide have been chasing the holy grail of increased sales numbers. It's such a lucrative task that many individuals have developed complete businesses out of advising companies on improving their sales numbers. Yet despite all this available assistance, many companies rarely see the value of their sales skyrocket. Businesses may go through several iterations and tweak everything from their marketing plan to their website to increase the number of sales they get with mixed results.

What if getting sales didn't require a business to jump through hoops or pay an advisor exorbitant sums? What if increasing a business's sales could be as simple as looking at some basic stuff and implementing straightforward ideas? Sixteen experts from Forbes Business Council share the belief that simple yet effective is the way to go. Below, they offer a few techniques that can help a business increase sales without complicating matters.

Members of Forbes Business Council offer tips on increasing sales using simple techniques.

1. Consider Customers' Business Drivers

To develop a robust strategy for generating fresh leads, shape your marketing communications around customers’ business drivers. Conduct qualitative research into their key challenges, then communicate how your company is uniquely suited to overcome those challenges. Business leaders must be highly responsive to their customers’ current objectives to sustain their position in the market and drive growth. - Victoria Usher , GingerMay

2. Be Present With Clients And Prospects

Sales is a participation sport that happens when you are present. Be present with your clients and prospects. Be present with an attitude of "what more can I do" and "how can I be of service." These questions will help you focus on the outcomes for the other party and are the basis of a solid relationship. - Andy Austin , The Industrious

3. Look At Product-To-Market Fit

There are various tactical and strategic methods. Before jumping into the tactics, I would recommend looking at your product-to-market fit. Competitive differentiation with the ability to solve key issues with added value will sure help increase sales. Tactics can follow suit to execute. - Zeenath Kuraisha , Asia Pacific Sales & Marketing Academy

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4. Have A Unique Value Proposition

A unique proposition that is in demand is essential. If you offer a perfect service or product and there are lots of other companies that do the same and at the same quality, it's not that easy to boost your sales. But when you give real value to your clients, you win their loyalty. - Vladyslav Savchenko , Powercode

5. Have Consistent Marketing Strategies

Business does not always boom! Get consistent marketing strategies in place with a professional team and/or learn to do it yourself when business is slow. For example, make your own videos—you will develop your own style of branding that will be organic—or write and get it published. We have more free advantages at our fingertips than any other business owner in history! - Kat Conway , The Scott ©️

6. Increase Cart Value And Purchase Frequency

It’s 10 times easier to sell to an existing customer than to new ones. Firstly, increase the value of the cart. Look for complementary things you can add to the current sale or purchase. Secondly, increase the frequency of purchase. This depends on the business—offer exclusive deals and promotions for customers to return more often. - Judy Sahay , Crowd Media Group

7. Focus On Existing Customers

Be proactive in reaching out on a regular basis, even just to check up and ask how they are doing personally and professionally. Also, try to add value to your services. Lastly, do not be afraid to ask if they know anyone who needs your services, and make the referral process super easy. - Hao Lam , Best in Class Education Center

8. Focus On Why Customers Buy

We only see one way of increasing sales, and it is also the simplest way: It all starts with the question of why customers buy. This methodology can be applied to any business-to-business or business-to-consumer business. Start first with forgetting the word “sales” because it is not about selling. - Baris Kavakli , Portera BV

9. Upsell An Additional Service

Upsell an additional service to your clients. For example, in our software development company, we noticed that almost all clients need marketing services when they launch their projects. We started offering press release services to them as an upsell and almost everyone is buying it because it complements the original service. This has generated additional revenue for us from nowhere. - Sardor Akhmedov , Jafton.com

10. Leverage Video Reviews

Using sales apps is good. To make it more favorable for clients to stay with you, entice them with existing/old customer reviews. Video reviews create a much better impact, so get a video review a month or two after the sale by providing an after-sale checkup or service. This way, you could enhance your image not only with that particular customer but with that community, too. - Kiara Cancer , Extraordinary Headhunters LLC

11. Conduct A Website Audit

Run a website audit. Look at your Google Analytics and do a competitor analysis. Find areas where you can improve with SEO and user experience. You can bring in new sales by jumping from a keyword position on the second page of Google to the first page. Don't let your internet presence slip. - Nick Quirk , SEO Locale

12. Have A Clear CTA

Ensure there's always a clear call to action (CTA) on every touch point with your consumer. Are you networking? Leave your business card with a link to schedule a call. Are you passing out brand pamphlets? Include a reason and call to action to visit your website. Put your URL on all of your social media channels and business listings. This is simple but very much overlooked in many businesses. - Caitlin Strempel , Rising Ranks Digital

13. Try LinkedIn Sales Navigator Team

LinkedIn Sales Navigator Team is simple, allowing you to find anyone in any country, in any position and in any size company. It will also enable you to find people who are actually active and who actually want you to contact them. Then, use SmartLinks and Who Viewed My Profile to engage with people who show signs of interest in you and your services. - Chris J "Mohawk" Reed , Black Marketing

14. Organize Private Events

Host private events or, in the case of Covid-19, virtual events hosted on Zoom. People love to come to exclusive events. Invite your top clients and your top prospects. What you are going to see is that your top clients will actually be doing the selling for you without even knowing it. - Brosnan C. Hoban , Hoban Realty

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22 Best Sales Strategies, Plans, & Initiatives for Success [Templates]

Discover sales strategy examples, templates, and plans used by top sales teams worldwide.

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FREE SALES PLAN TEMPLATE

Outline your company's sales strategy in one simple, coherent plan.

sales strategies initiatives and templates to plan your quarter

Updated: 03/07/24

Published: 03/07/24

A strong sales strategy plan creates the foundation for a cohesive and successful sales organization.

Sales strategies and initiatives also align salespeople on shared goals and empower them to do their best work — keeping them happy and successful, too.

In this guide, I’ll dig into some sales strategies and initiatives that I’ve found can help you generate more leads and close more deals. But first, let’s define what a sales strategy is.

Free Download: Sales Plan Template

Table of Contents

What is a sales strategy?

Why is a sales strategy important, the most effective sales strategies, sales strategy types, sales planning: how to build a sales strategy plan, sales initiatives, sales strategy examples from successful sales teams.

A sales strategy is a set of decisions, actions, and goals that inform how your sales team positions the organization and its products to close new customers. It acts as a guide for sales reps to follow, with clear goals for sales processes, product positioning, and competitive analysis.

action plans to increase sales in retail

A clear sales strategy serves as a map for the growth of your business. Your sales strategy is key to future planning, problem-solving, goal-setting, and management.

An effective sales strategy can help you:

  • Give your team direction and focus. Strategic clarity can help your sales reps and managers understand which goals and activities to prioritize. This can lead to improved productivity and outcomes.
  • Ensure consistent messaging. Your sales strategy can help your team deliver a consistent message to prospects, partners, and customers. This can increase both trust and effectiveness.
  • Optimize opportunities. Strong sales strategies will help you target the right prospects and customize your approach. This can help your team make the most of every sales opportunity.
  • Improve resource allocation. Your sales strategy outlines your priorities and resources. In turn, this can help your sales team use their time, effort, and other resources more efficiently, boosting your team’s ability to focus on high-potential deals.

Next, let’s cover some of the sales strategies that I’ve found can be most effective.

action plans to increase sales in retail

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2. Become a thought leader.

Sharing your advice, tried-and-true best practices, and niche expertise are some of the most long-lasting ways to build your personal brand and lend more credibility to your organization. After all, nobody wants to feel like they’re being sold to. Instead, it’s better to help people by offering solutions to their problems.

That’s what thought leaders do. Indeed, a recent report found that “Thought leadership is one of the most effective tools an organization can use to demonstrate its value to customers during a tough economy — even more so than traditional advertising or product marketing, according to B2B buyers.”

According to the study, 61% of decision-makers believed that thought leadership could be moderately or very effective in demonstrating the value of a company’s products. Moreover, more than half of C-suite executives in the study believed that thought leadership has a greater impact on purchases during an economic downturn, making this an even more important element of a sales strategy in today’s uncertain economic times.

So what’s the catch?

Not all thought leadership content is created equal.

When done right, thought leadership can have a huge positive impact, but poor thought leadership can be devastating to a company’s sales goals. So, before you plan a spree of LinkedIn posts to drive leads, consider who your audience is, what they need to know, and how your organization can help.

Also, it may not hurt to have a second set of eyes from your marketing, communication, and PR departments review your plan first to make sure everything is on-brand (and trackable!).

3. Prioritize inbound sales calls as hot leads.

There’s an age-old question in sales: “Should I discuss product pricing with a prospect on the first sales call?” The honest answer is: It depends.

You and your sales team know your process better than anyone. So take it from me — if you’ve seen success with pitching with pricing first, last, or somewhere in between, stick with what’s working for you.

But beyond that, your team should always prioritize the prospects who come to you. These hot leads are definitely interested in what you have to sell, and before they make a decision, they want to get the information they need about how it will benefit them.

By prioritizing talking to these prospects as soon as they call in or send an email, you’re putting your best foot forward and showing them that you’re helpful, solutions-oriented, and considerate of their time. And if that means closing a deal on the first call, there’s nothing wrong with that — as long as the customer has the information they need to make an informed decision.

4. Properly research and qualify prospects.

I’ve personally discovered that even the strongest sales strategy can’t compensate for targeting the wrong customers. To ensure your team is selling to the right type of customer, encourage reps to research and qualify prospects before attempting to discuss your product. Indeed, throughout my career, I’ve found that more work on the front end can lead to smoother closing conversations later on.

Outline the criteria a prospect needs to meet to be qualified as a high-probability potential customer. These criteria will depend on your unique business and target audience, but they should generally be based on a prospect’s engagement history and demographics.

action plans to increase sales in retail

Free Guide: 101 Sales Qualification Questions

101 Questions to Ask Contacts When Qualifying, Closing, Negotiating, and Upselling.

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5. Implement a free trial.

Offering a free trial or freemium version of your product can be a highly effective way to convert prospects. In fact, HubSpot’s sales strategy report found that 76% of sales professionals feel that free trials are effective in converting prospects into paying customers, while 69% of professionals believe that freemium offerings are effective.

action plans to increase sales in retail

Keeping a list of proven, go-to closing techniques will help salespeople routinely win deals. Some of my favorite techniques include the ‘now or never close’ — i.e., “If you commit now, I can get you a 20% discount” — or the ‘question close,’ i.e., “In your opinion, does what I am offering solve your problem?”

action plans to increase sales in retail

Free Sales Closing Guide

An easy-to-use sales closing guide with three tactics you can use right away.

  • Using an ROI calculator for your prospects
  • How to ask confirmation questions
  • Sales question templates you can use today

To further improve your closing techniques and learn to close deals with confidence, check out this free, downloadable Sales Closing Guide .

11. Nurture existing accounts for future selling opportunities.

Once a deal is done, there’s no need for a sales strategy, right? Wrong.

Account management is an incredibly important part of the sales process, as this is how you foster loyal, happy customers and identify cross-selling and upselling opportunities.

So, after your sales team sees success with its sales strategy, it’s vital to form a partnership between the sales team and customer service/success teams.

Remember: Ensuring customers’ continued satisfaction with your product or service will make them more likely to do business with your company again. You may even inspire them to advocate for it proactively.

action plans to increase sales in retail

Free Sales Plan Template

Outline your company's sales strategy in one simple, coherent sales plan.

  • Target Market
  • Prospecting Strategy

Inbound Sales Strategy

In contrast, inbound sales strategies are the modern methodology for sales teams. Companies following an inbound approach base their sales processes on buyer actions.

These organizations automatically capture seller and buyer data to monitor their pipelines and coach their salespeople. Inbound sales strategies connect reps’ activities to the three stages of the buyer journey — awareness, consideration, and decision — encouraging sales teams to map their tactics to the right step in the customer journey.

The inbound methodology also aligns sales and marketing, creating a seamless experience for buyers. Check out this post to learn more about inbound sales and how to develop an inbound sales process.

In addition, many popular sales strategies take a customer-centric approach, including:

  • Account-based selling .
  • SPIN selling .
  • Value-based selling .
  • Consultative selling .

You can learn more about these approaches in this post about customer-centric selling systems .

Inbound vs. Outbound Sales Methodology

In the past, buyers were often forced to suffer through evaluating a product and deciding whether to buy it using only the information offered to them by the seller. But today, much of the information needed to evaluate a product is available online — meaning that buyers are no longer nearly as dependent on the seller.

That means that if sales teams don’t align with the modern buyer’s process. If they fail to add value beyond the information already available online, then buyers will have no reason to engage with a sales team.

As mentioned above, inbound sales benefits buyers at each stage of the buyer process, including:

  • Consideration.

Inbound sales teams help buyers become aware of potential problems or opportunities and discover strategies to solve those problems.

Then, buyers evaluate whether the salesperson can help with their problem, and if the buyer thinks they can, they’ll purchase a solution to their problem. Inbound sales reps are helpful and trustworthy, creating partnerships rather than power struggles.

Not sure how to get started with inbound selling? Every sales team should have a sales strategy plan outlining its goals, best practices, and processes designed to align the team and create consistency.

Below, I’ll walk through how to create a sales strategy plan for your team.

Now that you have the template you need, let’s go over how you can build a sales strategy.

How to Build a Sales Strategy

  • Develop organizational goals.
  • Create a customer profile that is tailored to a specific product offering.
  • Hire, onboard, and compensate sales team members adequately.
  • Create a plan to generate demand.
  • Measure individual and team performance.
  • Track sales activities.

To build a comprehensive sales plan, I’d recommend starting with the following activities:

1. Develop organizational goals.

Setting goals is a no-brainer for most sales teams. Otherwise, how will you know whether you’re executing the right activities or achieving the best results? There are three strategies that I’ve found can be particularly helpful in developing clear organizational goals for a sales strategy.

Involve cross-departmental stakeholders.

Avoid developing sales goals in a silo. Instead, be sure to get input from stakeholders across the organization, since every department is held accountable to the company’s bottom line.

Create SMART goals.

SMART stands for specific, measurable, attainable, relevant, and time-bound. Setting SMART goals can help your team simplify and track complex, long-term sales goals .

For example, a specific, measurable, and time-bound goal could be to sell 150% of the projected sales quota in Q2. Your internal team can propose this goal and then decide whether it is both relevant and attainable (attainability is particularly important because setting unrealistic goals can harm team motivation).

At the end of the day, SMART goals help reduce confusion when it’s time to review your strategy, helping to ensure you know what worked and what didn’t.

Connect individual goals to organizational goals.

Finally, if you’re creating a team-specific strategy, you may also want to set goals for individual team members. Building ownership and accountability into sales goals can help keep your team aligned, and it also makes your sales strategy more cohesive.

2. Create a customer profile that is tailored to a specific product offering.

A detailed profile of your target customer — a buyer persona — is an essential component of an effective sales strategy. Below, I’ve outlined the key steps to take when creating a buyer persona to ensure you come up with a useful profile:

Find target markets and segments.

First, look at your industry as a whole. Get a sense of your ideal customer’s company size, psychographics, and buying process. You may want to look at industry trends, too.

Conduct market research to understand customer needs and preferences.

Next, do some market research. This template can help you streamline the process and understand which types of research will be best for your business.

You may also want to do some competitor analysis at this stage. Once you know the strengths and weaknesses of competing brands, you can more easily find gaps that you can fill for specific customers.

Create a clear value proposition to attract your ideal customer to your product or service.

Finally, make sure your product offering outlines the benefits of your product for your target customer. It’s important to use insights from your customer profile to emphasize features that solve your target customer’s pain points.

Your business may already have a clear value proposition — but if not, you can use these free value proposition templates to draft one.

Quick tip : Be sure to schedule time to update and refine your buyer persona to make sure it stays aligned with current customer trends and expectations.

3. Hire, onboard, and compensate sales team members adequately.

To develop an effective sales strategy, you need to have a powerful sales team in place. That means investing in hiring, onboarding, and retaining top talent. Specifically, I have learned that there are three key components of building (and keeping) a supportive, successful sales team:

Create great processes for hiring new members of your sales team.

First and foremost, create a list of criteria for sales managers to screen for when interviewing candidates. A well-defined job description and competency framework are also useful. These tools can help your team recruit and retain top talent.

Develop sales onboarding, training, and development programs.

Your training and onboarding program should prepare your sales team to sell effectively and efficiently. It should also help sales reps build advanced skills and industry knowledge.

But what if you don’t have the resources to develop comprehensive training in-house? In these situations, it may be worth considering combining organization-specific training with online sales training programs .

Create a motivational compensation and rewards plan.

Finally, once you’ve built a strong team, it’s vital to ensure your compensation plan is set up to motivate and retain them.

Many organizations connect sales compensation to organizational sales goals, but regardless of the specific compensation plan you choose, make sure that it meets or exceeds industry expectations. It should also inspire your team to celebrate individual and team achievements.

4. Create a plan to generate demand.

Now, it’s time to put together a detailed plan for how to target potential customers and increase their awareness of your offering. This may include using paid social acquisition channels, creating e-books, hosting webinars, and the many other strategies laid out in this article.

Featured Resource: Sales Plan Template

action plans to increase sales in retail

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4. Listen to your prospects.

Just because prospects aren’t customers yet doesn’t mean they don’t have valuable feedback to offer.

As you move prospects through the sales funnel (and especially when they drop off), ask for candid feedback about their experience with your team and products. Even if they’ve lost interest, you may learn something that can help you convert your next prospect.

5. Invest in sales development and team-building.

The best sales teams align not only with their customers but also with their coworkers.

Sales is a difficult career, and without proper encouragement and camaraderie, people can easily become burned out. So, to keep your sales team feeling satisfied and supported, don’t forget to invest in sales development and team-building activities.

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Small Business Trends

How to increase sales in retail: 25 tips to boost your business.

Table of Contents

Preparing to Increase Sales in Retail

Understand your customer base.

In the retail sector, the customer truly is king. Understanding your customers is the first step in formulating a strategy to increase sales. Analyze their shopping behavior, preferences, and pain points. The more you know about your customers, the better you can cater to their needs and wants.

Evaluate Your Current Sales Strategies

Set clear goals, 25 expert retail sales tips.

Okay, you’ve done your prep work. Now let’s shift gears and explore 25 tried-and-true tips that can supercharge your retail sales.

1. Offer a Customer Loyalty Program

2. upselling and cross-selling, 3. implementing sales promotions.

Sales promotions such as limited-time discounts, buy one get one free, or free shipping for a certain amount can stimulate purchases. They create a sense of urgency that nudges customers to buy now rather than later.

4. Enhancing Customer Service

5. optimizing store layout and visual merchandising, 6. streamlining checkout process, 7. investing in employee training.

Well-trained employees are your front-line salespeople. Invest in their training, focusing on product knowledge, sales techniques, and customer service skills. This enhances their confidence and ability to sell to customers effectively.

8. Using Social Media Marketing

9. introducing flash sales, 10. utilizing email marketing, 11. providing personal shopping services.

Consider offering personal shopping services. Personal shoppers can provide product recommendations based on the customer’s preferences, making the shopping experience more convenient and personalized.

12. Offering Gift Cards

13. creating a mobile app, 14. showcasing product demonstrations, 15. curating limited-edition products, 16. implementing customer feedback.

Listen to your customers’ feedback and make necessary adjustments. This improves your store’s shopping experience and builds trust with your customers.

17. Running Seasonal Sales

18. hosting in-store events, 19. offering easy returns and exchanges, 20. using customer testimonials and reviews, 21. implementing multichannel selling, 22. incorporating augmented reality (ar).

AR technology can enhance the shopping experience, letting customers try products virtually before buying. This can be particularly effective for furniture, eyewear, or apparel.

23. Leveraging Big Data and AI

24. offering bundled products, 25. optimizing your online store.

TipSummary
1. Customer Loyalty ProgramEncourage repeat business by offering points for purchases that can be redeemed for rewards.
2. Upselling and Cross-sellingTrain staff to recommend product upgrades or related items during a sale.
3. Sales PromotionsImplement limited-time discounts or special offers to stimulate purchases.
4. Enhanced Customer ServiceProvide exceptional service to make customers feel valued and more likely to buy.
5. Store Layout and Visual MerchandisingUse strategic store layout and appealing displays to influence buying decisions.
6. Streamlined Checkout ProcessReduce cart abandonment by offering a smooth, hassle-free checkout process.
7. Employee TrainingInvest in training your staff in product knowledge, sales techniques, and customer service.
8. Social Media MarketingUse social media platforms to promote your products and engage with customers.
9. Flash SalesIntroduce time-sensitive discounts on select items to encourage quick purchases.
10. Email MarketingUse customer emails for personalized marketing, featuring new products and exclusive deals.
11. Personal Shopping ServicesOffer services that provide product recommendations based on customer preferences.
12. Gift CardsEncourage customers to spend more and attract new customers with gift cards.
13. Mobile AppStreamline the shopping experience with a mobile app that offers convenience and personalized services.
14. Product DemonstrationsShowcase live product demonstrations to engage customers and explain product benefits.
15. Limited-Edition ProductsOffer limited-edition products to create a sense of urgency and encourage immediate purchases.
16. Customer FeedbackListen and respond to customer feedback to improve your store and build customer trust.
17. Seasonal SalesRun sales that align with holidays or seasons to capitalize on shoppers' readiness to spend.
18. In-Store EventsHost events to draw in customers and create a lively shopping atmosphere.
19. Easy Returns and ExchangesOffer a reassuring return and exchange policy to make customers more willing to buy.
20. Customer Testimonials and ReviewsShowcase customer reviews and testimonials to build trust and influence purchase decisions.
21. Multichannel SellingSell your products in-store and online to increase your reach and sales opportunities.
22. Augmented Reality (AR)Use AR to let customers try products virtually before buying, enhancing the shopping experience.
23. Big Data and AIUse data analysis and AI to personalize the shopping experience and suggest products.
24. Bundled ProductsIncrease average order value by offering discounted product bundles.
25. Online Store OptimizationImprove your online store's user-friendliness, mobile optimization, and SEO to increase sales.

How to Maintain the Increase in Retail Sales

Once you’ve boosted your retail sales, it’s critical to maintain that momentum. That’s where sustainability and consistency come into play. Steady sales growth is a sign of a healthy business, one that knows how to keep its customers engaged and coming back for more. Let’s explore this further.

Reviewing and Adapting Sales Strategies

Importance of consistent customer engagement.

What if there was one trick that can help you increase sales? Let’s hear what Dan Lok has to say about that.

Common Mistakes to Avoid when Trying to Increase Retail Sales

Neglecting customer feedback, lack of employee training in retail stores, failure to adapt to market trends.

The retail landscape is ever-changing. Ignoring emerging market trends can leave your business behind. Stay updated on the latest trends in consumer behavior, product innovations, or retail technology, and adapt your strategies accordingly.

Online Sales vs Brick and Mortar Stores: How to Increase Retail Sales Performance Across Platforms

Faqs: how to increase sales in retail, why is it important to increase retail sales, does a small business need a retail marketing strategy.

Absolutely! A retail store marketing strategy is not just for big businesses. As a small business owner, you need to understand your target market, determine how to best reach them, and create compelling reasons for them to choose your store over others. A well-crafted marketing strategy can help you achieve these goals and boost your sales.

What Strategies can I use to increase sales from both loyal customers and new customers in my retail store?

action plans to increase sales in retail

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11 Tips to Help You Meet (and Beat) Your Retail Sales Targets

  • by Francesca Nicasio

minute read

11 Tips to Help You Meet (and Beat) Your Retail Sales Targets

  • not meeting your retail sales targets; or
  • meeting your targets but want to find ways to blow past them.

Whatever the case, this post can help. We know how big of a deal sales are to retailers, so we’ve compiled a number of pointers to help you and your associates meet—and beat—your targets.

Setting the right retail sales goals

How to communicate your sales targets or goals, motivate your sales team to achieve retail sales goals, invest in employee training, build a store that’s conducive to increased retail sales.

Check them out below.

Run a thriving retail business

Retailers need to look to the future, stay ahead of trends and adopt the digital strategies that have kept industry leaders selling through unprecedented challenges. Read our guide to learn how to help your business thrive in the new era of commerce.

Want to meet (or beat) your sales goals? Start by setting the right targets. There aren’t any hard and fast rules for doing this, as every company is different. 

Generally, though, you’ll want to consider the following factors when setting goals:

  • Historical sales data
  • Sales initiatives and events throughout the year
  • The capacity of your sales team
  • Employee input

1. Come up with sales targets that are challenging but achievable

Goal-setting can be tricky. On one hand, you need to set sales targets that are achievable but challenging at the same time. In other words, you don’t want to come up with goals that are too easy or too difficult to hit.

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So, how do you find the right balance? Kevin Graff over at Graff Retail offers excellent advice. According to him, you need to apply the 70% rule to your sales goals.

“Goals should be achieved at least 70% of the time. If not, they’re too high and risk de-motivating your staff,” he wrote . “By the same token, if goals are achieved 90% or more of the time they’re too low and aren’t pushing your staff.”

If you need help coming up with sales targets to start with, begin by researching average sales and profits for stores in your industry, and using those numbers to inform your revenue objectives. 

2. Properly manage sales quota frequency and timeframes

When coming up with your sales targets, you’ll likely start with your annual revenue goal then break that down quarterly and then monthly. But when dealing with your sales team, you may want to set goals for shorter time frames—think weekly or even daily.

Frequent sales quotas can give your associates continuous motivation. As the Harvard Business Review put it , “Under a monthly plan, salespeople who started off the month poorly might become less motivated after realizing they weren’t going to make their quota for that month—in essence giving up in the current month. Daily quotas would theoretically help prevent such behavior.”

To put that theory to the test, they conducted a study at a large Swedish retailer and compared sales results between stores that were given monthly versus daily quotas.

HBR found that having daily quotas increased sales productivity by nearly 5% and that the improvement was more pronounced for low-performing salespeople, with the bottom quartile experiencing an 18% boost in sales productivity.

What’s the reason behind this?

According to the publication, daily quotas seemed to help prevent those individuals from giving up for the rest of the month after having a slow start, which is typically the case for low performers.

That said, the study did find that while daily quotas increased sales volume, frequent quotas seemed to motivate salespeople “to sell more quantities of low-ticket items, probably a result of shifting their mindset toward the smaller daily goals.”

This led to lower profitability because sales associates kept pushing the low-margin items.

If you experience this in your store, then try to find ways to incentivize employees to sell higher-ticket items. In other words, stick to frequent sales quotas, but look for creative ways to put your high-margin products front and center.

3. Clarifying your team’s targets makes it easier to achieve retail sales goals

A big goal-setting mistake people make is having vague targets. For example, simply saying that you want to “increase sales” won’t cut it. In order to maximize your results, strive to set goals that are SMART— i.e., specific measurable, attainable, relevant, and time-based.

Sales goals examples include:

  • Get 10 new customers to join your loyalty program every day.
  • See a 20% increase in sales by the end of the month.
  • Improve basket size by 15% by end of the quarter.

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You’ve set your targets. Perhaps you’ve even mentioned them to your staff. That’s a good start, but if you want to drive those goals forward, you need to communicate them clearly and constantly.

Here are some ways of doing just that:

4. Talk up your goals throughout the day

Talk up those sales targets. This isn’t just about mentioning it at the start of the day and then asking about sales when you’re about to close. You need to talk about sales goals and performance throughout the day to keep those targets top of mind.

Spend a few minutes at the start of each shift talking about the team’s goals and how they’re doing. This will keep them accountable and motivated to achieve their targets.

5. Make those sales targets visible

Display your sales goals and achievements in the back room. Put up a board dedicated to sales and make sure it’s updated.

Another idea? Make your sales goals visible on your POS system. Look into your point of sale solution and see if it lets you set sales targets. If it does, find out how to make those numbers visible to relevant employees.

X-Series sales dashboard

In Lightspeed, for example, you can display the targets for the user currently signed in. This can be a very useful tool for identifying top performing cashiers or sales reps, and for tracking goals for each team member.

Once the targets have been set, the user will be able to monitor their progress from the home screen. There will be a section called “Your Sales”, which will show a progress bar of the user’s sales target. There is also a graph which shows the user the history of sales made across the period they have specified.

And if you want even more visibility into your sales targets, see if your POS lets you access key metrics on the go. Lightspeed, for instance, has Lightspeed Reporter (X) , which lets you monitor all your retail data right from your iPhone.

You’ll have instant access to your dashboard, and there’s no need to open a browser or sign in to Lightspeed every time. It also comes with an iOS14 widget that you can save to your homescreen. This means that all the important info about your business is literally just one swipe away.

Lightspeed Reporter (X) mobile app

Putting those sales goals out there is a good step, but to really drive results, you need to keep your staff motivated. Here’s how to do just that.

6. Have your team share the store’s sales goals

Offering commission and giving bonuses are common—and recommended—motivation tactics for sales employees. Sometimes, though, certain commission structures can create unhealthy competition in which employees are only looking after their own interests rather than helping the store succeed as a whole.

In a Facebook Live video, retail author and speaker  Bob Phibbs (aka the Retail Doctor), shared an interesting method for preventing this. He recommends setting a sales goal for your store, and then offering rewards to those who hit their quotas.

But here’s the thing: your staff will only be able to “unlock” their incentive if the overall store goal is met. In other words, even if an employee achieves their own target, they won’t get a bonus if the store’s target sales aren’t met.

As Bob put it, “you’re sharing the rewards as well as the risk, and that seems to motivate people really well.”

7. Gamify the process

Another great motivational tool? Games. According to Cara Wood, a former retail sales associate, regular contests did wonders for the performance of the sales team.

“Running contests to encourage harder work was actually something the retailer I worked for was very good at. They regularly ran all kinds of contests, with excellent results from their teams,” she shared.

Some ideas? Check out the following:

Offer gift cards for opening store credit cards. Cara said that one of her favorite store contests was one in which the store gave out $5 to $10 gift cards for every store credit card that an associate opened.

“I was always good at opening cards, but I was extra good during these contests. I typically opened one per shift, but during one of these contests I opened 14 cards in three shifts, netting myself $70 in gift cards to the store.”

Give out prices the whole store can enjoy. Want to motivate an entire store? Consider a shared reward that everyone in the shop can enjoy if they outperform other locations.

Cara’s former company, for example, threw pizza parties for the store that achieved the highest average units per transaction

Use games to encourage certain types of behavior. Running contests to encourage certain behaviors may also work. One idea comes from Ray Riley, CEO at People in Progress Global.

“Borrowing from our retail education products, I’d focus on exceptional greetings this holiday season with a game: Pass the Buck,” he suggested.

“Whoever creates eye contact, squares their body to the customer, and genuinely greets them into their store within an acceptable period of time, gets a dollar. The next sales professional to do the same gets the same dollar, and the objective is to hold onto that dollar the most throughout their shift.”

Use a raffle. Put an attractive price up for grabs and raffle it out to employees. Here’s where it gets interesting: your associates can earn their entries by making sales or hitting certain targets. So, the more they sell the better their chances of winning.

Are your employees still not meeting their sales targets despite constant reminders and motivation? Perhaps you need to invest more in training . When it comes to effective retail selling, you need to teach your staff what to sell and how to sell it.

(It sounds obvious, but so many retailers fail to invest in proper employee training.)

Don’t just put them on the floor with minimal knowledge and expect results. Put in the time and effort to educate them.

Some suggestions:

8. Make sure employees know the store’s products inside and out

First, teach them what to sell. Talk to them about each product and make sure they know the key features and benefits of every item.

Use the “FAB” formula. A good way to instill product knowledge is through the “FAB” formula, advises Reese Evans, a former retail associate. FAB stands for features, advantages, and benefits. It’s a great tool for coming up with ways to approach or talk to shoppers.

Basically, features are the characteristics of a product while its advantages pertain to what the product or the features can do. The benefit, which is the most important part, is what the customer can get out of the product and its features. For best results, see to it that the benefit you pitch to the shopper is unique to them.

“Let’s say you’re selling a jacket. A feature could be that it has a pocket on the inside of the garment. The advantage could be that the pocket is ‘hidden’ inside the jacket and could be opened and closed using a nifty zipper. And then the benefit could be that the customer can use it to subtly store small but important items like extra cash or their IDs.”

Conduct unboxing sessions. Do you have new stuff arriving in your shop? Set aside time to unbox them with your team.

That’s what Elevator, an accessories and jewelry boutique in Toronto is doing.

“Having a well-informed sales team is absolutely essential for the sales experience and actually driving more sales. The aesthetics of a particular product is very important, but people will always want to know what something’s made of, or a little bit about the designer,” says store owner Niko Downie.

“Whenever new designers arrive at the store, we sit down with the product in front of us, look at it really thoroughly, talk about the materials that it’s made from, who the designer is, what’s particularly unique about this product, and how to demonstrate it. We tend to do that as new items, new designers, and new collections arrive in the store.”

9. Train employees in the art (and science) of sales

Retail selling is a broad topic and there’s a whole range of things to tackle here. So rather than cramming all the info in this post, we thought we’d point you in the direction. Here are some retail sales resources to check out:

  • How to Increase Retail Sales: 10 Tips
  • 8 Types of Sales Promotions in Retail (and How to Implement Them)
  • 18 Must-Have Retail Skills Sales Associates Need to be Great

Finally, if you want your team to achieve the store’s sales goals, you have to ensure your shop sets them up for success. Here’s how:

10. Drive ample foot traffic

It’ll be difficult to meet sales goals if there aren’t any customers to sell to. See to it that your store has a steady flow of traffic that your associates can convert. You can accomplish this by sprucing up your window displays, holding events, running promotions, and more.

11. Have a winning assortment

Even the best salespeople will struggle if they’re trying to sell something that doesn’t resonate with shoppers. That’s why it’s incredibly important to have a deep understanding of what your customers want and need.

Talk to your customers to figure out what they want to see in your store. Pay attention to consumer trends and get a handle on the market. Then, use that knowledge to influence your buying decisions.

And once you’ve stocked up on the right products, see to it that they’re showcased properly. Be strategic with your merchandising. Identify the key areas (i.e. the high traffic and high-profit sections) of your store and constantly refresh them with great-looking assortments.

Final words

With the right strategies and tools, you won’t just meet your sales target—you’ll beat them. Hopefully, the tips above bring you closer to doing just that!

Want to see how Lightspeed Retail can help you achieve your sales goals? Watch a demo to see it in action ! 

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Francesca Nicasio

Francesca Nicasio has been writing about retail and hospitality for over 10 years. She focuses on producing actionable content pieces that helps retailers and restaurants improve their operations and bottom line. Having been featured in Entrepreneur, Forbes, The Huffington Post and other top-tier publications, Francesca stays at the forefront of industry trends, helping businesses adapt and thrive.

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Learn How to Increase Retail Sales With These 8 Pro Tips

Bob Phibbs

Access My FREE 5-Part Retail Sales Training Email Course!

Looking for resources on how to increase sales in retail?

The key is to realize in many ways, brick-and-mortar retailers have a finite client base. After all, only so many people will be willing to walk into your store on any given day.

While great marketing can impact that number, your focus can’t be just about attracting new customers. In fact, if you’ve felt meeting your retail sales projections depends solely on the number of shoppers who show up at your door, you’re leaving a lot of money on the table.

You’re probably not consistently moving the shoppers who already come into your store from browsers to customers who purchase from you that day. You have to keep track of your conversion rates to know if you’re making progress.

You’re probably not consistently using suggestive selling of additional products your customers could use but are never shown. We hear more and more about standoffish associates due to the pandemic who believe customers just want to get in and get out quickly. That's costing you money.

Your staff may have created a culture in your retail store of price selling — what’s on sale, what’s cheapest, and even the attitude of I’m not trying to sell you. After all, their mindset is understandable, with analysts suggesting the next 6 to 12 months will be rocky.

But that needs to be corrected. 

When customers leave with only one item and not everything they need, a competitor gets their additional business and a chance to make a loyal customer out of one who should have stayed yours.

In short, you’re settling for crumbs when you could have the whole feast.

The best approach must capitalize on the visitors who enter your store — whether 20 or 50 people. Routinely building higher per-ticket sales is a win-win.

You can still meet your sales goals with fewer shoppers and seasonal downturns. Selling higher per-ticket averages directly boosts your bottom line.

How do you improve per-ticket averages and increase overall sales?

The best way to answer the question of how to increase sales in retail is with retail associate sales training that cultivates an atmosphere of value selling.

Your sales associates need to be constantly aware of how to sell the value of a single product over the price of the product while looking for ways to enhance that value with additional products. 

Not only will this lead to more upsells and add-ons, but it will also help eliminate the need for markdowns to move higher-value items.

Practical retail sales techniques and strategies

With these retail sales tips, you’ll boost your bottom line — and create raving fans, too. 

Let’s dive in so you can stop wondering how to drive sales in retail and start taking action instead.

1. Build rapport with every person who walks in your door

This list of retail sales ideas begins with one of the most important: building rapport to create a world-class shopping experience for every customer.

Today, exceptional shopping experiences begin with exceptional employee skills. Your staff must know how to genuinely engage people from all walks of life. That means getting out from behind the counter because they want to, not because you have to tell them.

Those employees must be able to listen to why the customer walked through your doors today, identify their motivators to buy, and link all of your products in a way that encourages them to buy.

When they build retail sales rapport and connect with their customers, it will keep customers from browsing for better deals on social media while standing in your store. It will also lay the groundwork for a true relationship where each looks forward to seeing the other again, increasing customer retention.

That also makes it easier for the sales associates to suggest add-ons because they are seen as human beings, trusted advisors rather than nameless clerks.

2. Treat your sales process as if it were a good script

Whether it is from poor hiring, a lack of training, or an unspoken belief by your crew that if people want something, they’ll ask, employees frequently leave their shoppers on the sales floor waiting. 

Waiting for someone to talk to them. Waiting to be rung up. On the other hand, your untrained employees are waiting for the shopper to ask a question, or worse, waiting for them to leave so they can jump back on their smartphones. 

When you have a consistent sales process, like a good script, everyone understands the plot and exactly how to get to the happy ending of a purchase — or, more specifically, how to increase sales in retail.

3. Optimize your retail marketing strategy 

Many who create social media posts or help with the retail strategy for advertising a retail store don’t have the same passion or creativity as a business owner to show and sell.

Outsourcing your social media posts — while one option — isn’t the best answer regarding advancing your brand or ways to increase sales in retail. Clogging your social media with stuff doesn’t encourage visits. 

Because you concisely know who your customer is and what answers they are looking for daily, you can create social media that passionately addresses their concerns and holds their attention.

4. Always be value selling over price

Value selling is the foundation of how to increase sales in retail. It’s easy to mark down items or steer customers toward the cheapest option. Heck, that’s 90% of retail business help these days. However, markdowns are bad for profit, and the cheapest option is rarely the best  for the customer.

With the proper understanding of the premium products they’re selling, salespeople can keep the conversation focused on the long-term value those products offer. Once customers understand that there truly are differences in quality from good to better to best, they’ll be more understanding of the price differences between those levels.

A good tip is to teach them the differences in your most popular SKUs and then have them tell a story using the Feel, Felt, Found Method and say, “I used to feel that way too about the price of this item. I felt it was too much. That was until I found out how much (better made, easier to use, quicker, etc.) it was over the others.”

Establishing the product's value in the customer’s mind makes it easier for the salesperson to segue into a conversation about add-ons.

5. Embrace all stages of the buyer’s journey

When you miss the first two stages of a buyer’s journey - #1, making them aware they have a need and #2, getting them to consider you as a source of how to solve that need - you just focus on #3, getting them to buy. 

That usually leads to too much emphasis on discounts for those who have decided to buy. It also often misses an opportunity to upsell . 

When you consider all three parts of the shopper journey, you can develop compelling videos, blog posts, articles, and newsletters that focus on just one aspect of the buyer’s journey at a time to reach a broader audience and increase retail sales.

6. Use suggestive selling to boost average check

Salespeople with in-depth knowledge of the products they sell should also clearly understand the items that complement those products. If they work in electronics, they know that even the best 4K television only offers limited sound quality.

That can lead directly into a conversation about soundbars or surround-sound systems. An apparel salesperson knows that a beautiful dress is not, by itself, an outfit, and a camera salesperson knows that a camera has a lot of lenses and focal lengths to make it truly an artistic device. The customers leave with products that exceed their initial expectations, and the salesperson gains higher per-ticket sales from their upsell.

To learn how to increase sales in retail effectively, your salespeople need to see the full picture of their product lines more so than the product features.

Even if they don’t know the specifics of an add-on but understand the concept of what it does, they’ll be able to create additional value for their customer and not settle for clerking a single item.

7. Describe compelling features

Unless your shoppers are engineers, facts are boring to most of them. When you lead with just a long list of facts about the product, you immediately lose most shoppers’ interest. Your shopper cares about how your product will help them do more, be more, and enjoy life more. 

When you focus on your customer first, you look at the poorly performing product they are using, at the project they want to complete, or the gift they want to give and understand they aren’t just buying something — they’re upgrading their lives or someone else's life.

8. Remember your own story

Rounding out my retail sales techniques and strategies is this: remember your why.

The world is full of retailers with no soul, point of view, or passion. Shoppers, especially millennial shoppers, are looking for an authentic brand  that can lead them to a cause. 

One that says, “I created this store because I wanted a place where people like you could come and shop.” Or retail associates who have embraced the product or lifestyle their brand represents. 

They are especially focused on social responsibility and how you make the world a better place. Focusing on your story and training your employees to share theirs makes a connection and shows your humanness. The result? Your staff knows how to increase sales in retail. 

Ready to start using these retail sales tips?

When I ask about something seemingly obvious during my visits as a retail consultant, I often hear, “Oh, we used to do that. I don’t know why we stopped.”

It doesn't matter the reason.

When starting, you’re often hyper-focused on the customer because every sale means the difference between making your payroll and missing it.

You were hungry. Often, you hired people who were hungry too and knew how to make sales in retail.

People who enjoyed the sport of building a sale. Employees who enjoyed the challenge of adding on, getting people to treat themselves, and having fun.

You created energy in your store. Anyone could walk through the doors. Anything was possible.

It still is.

The retail sales tips in this article will help you get started or reignite your original passion. Then, it’s up to you to train your staff. Get more from your existing customers — and learn how to strategically target high-value shoppers — with the right online retail sales training program. 

Sales RX is unlike any other retail training available. It is possible to grow your business — even during a pandemic. Learn more about my award-winning online program , and start seeing double-digit sales increases month after month. 

To learn more about how to fill your store with customers, motivate your team, and make more sales, download my new Shopper Magnet Playbook below.

Get Your Shopper Magnet Playbook

Retail Customer Service: How to Switch Between Shoppers

Motivation Beyond Paying Retail Sales Commission: 3 Ways To Get Employees To Sell

Motivation Beyond Paying Retail Sales Commission: 3 Ways To Get Employees To Sell

Retail Signage: Examples of How Not To Talk To Your Customers [Pics]

Retail Signage: Examples of How Not To Talk To Your Customers [Pics]

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Top 10 Sales Action Plan Templates with Samples and Examples

Top 10 Sales Action Plan Templates with Samples and Examples

Deepika Dhaka

author-user

Black Friday is around the corner, the busiest shopping festival that gets its name from the fact that it turns retailer’s accounts from being “in the red” to being back “in the black.” Marking the start of the Christmas shopping season, most consumers have started planning and creating their list of purchases for Thanksgiving 2022.

As a business owner, however, are you prepared to capture their attention and fulfill demand? If not, begin now, or you might lose business to your competitors. Planning for Black Friday Sales is the key to standing out in a large crowd of retail businesses. Think about it! Every store, whether brick-and-mortar or e-commerce, is already coming up with promotional activities. Customers are busy searching for these. How do you catch their attention?

You can turn this Black Friday sale into significant profits for your business with the creation of a Sales Action Plan to help you prepare and roll out some effective sales tactics. And yes! Don’t let creating your Black Friday Sales plan frustrate you. It’s easier than you think to brand yourself as a class apart. All you need is a definitive Sales Action Plan that helps your business draw in the crowds and have cash registers ringing.

Sales Action Plan Templates

Before, we tour the PPT Templates, are you looking for a comprehensive module to train your sales team and improve their performance? Access our Sales Training Curriculum with content-ready, well-researched slides that will make your training program a terrific success!

Comprehensive Curriculum for Sales Training PPT

Click Here to Download our Comprehensive Curriculum for Sales Training

SlideTeam presents the most popular Sales Action Plan Templates that global marketing leaders have found indispensable. The Black Friday Sale is just one instance of the application of these PowerPoint Templates, you can use these content-ready samples for all sales campaigns of the year.

Let’s explore these customizable templates!

Template 1: Sales Action Plan PowerPoint Presentation

Boost your top-line revenue growth and increase profitability with this Sales Action Plan Template, which is packed with content related to components, steps, and types of sales strategies. It will educate you on the benefits of sales strategies and the costs involved in the implementation. This PowerPoint Presentation also includes a strategic action timeline and guides on digital tools for enhancing the effectiveness of your sales strategies. Here you will also find slides to display statistics related to sales and a dashboard for your busy CEO. Grab it today if you are looking for a consolidated PPT Presentation on Sales Action Plan!

Sales Action Plan Presentation

Download this template

Template 2: Yearly Sales Action Plan Template

This one-pager PowerPoint Template will help you hone in on tactics that will define how you can reach your set objectives. With this consolidated layout, you can talk about key sales channels, including online, wholesale, and in-store channels. Present your revenue targets, target customers, and budget allocation with this content-ready PowerPoint Template. At the top of the slide, you can mention your sales goals and the plan year, along with its budget. Display the products and services you offer to your customers along with the budgeted sales and the devised distribution strategy. You can download this pre-developed sales planning one-pager PPT Template instead of wasting time writing any presentation from scratch.

Yearly Sales Action Plan Template

Template 3 : One-Pager Sales Action Plan Sheet

Are you struggling to develop a sales plan that can enrich and empower your business? This sales action plan template is the easiest and most graceful way to lay out your objectives, strategies, and tactics to optimize your sales channels. The strength of this one-page sales plan is that all your team members can understand it. It can help you identify potential obstacles and roadblocks so that you can come up with ways to overcome challenges. It includes six key parameters that will help you understand and study your sales channels. These are products and services, budgeted cost categories, projected sales, distribution strategies, proposed deadlines, and KPIs.  Download it today!

One Pager Sales Action Plan Sheet

Template 4: Building an Actionable Sales Plan PPT Set

The PowerPoint Bundle provides a comprehensive framework for crafting a robust sales strategy. Encompassing key elements such as competitor analysis, distribution channel evaluation, and marketing strategy development, the template guides users through a systematic approach to understanding customer and market dynamics. The inclusion of a detailed channel marketing plan, launch strategy, and exploration of the buyer's journey ensures a holistic view of the sales process. Additionally, the template digs deep into effective lead-generation processes and activities, equipping users with the tools needed to drive successful sales outcomes. Download now!

Building An Actionable Sales Plan PPT Set

Template 5 : Yearly Strategic Sales Action Plan Template

Peppered with eye-catching graphics, this Bi-Fold Yearly Strategic Sales Action Plan Template is a remarkable visual communication and promotion tool to bring attention to your business offerings. Use it to devise a successful sales campaign that speaks volumes about your products and grabs consumer interest. With plenty of industry-specific customizable shapes, visuals, graphics, and many more, this A4-size bi-fold design will help you create strategies and improve your customer engagement. Grab it today!

Yearly Strategic Sales Action Plan Template

Template 6: 30-60-90 Day Sales Action Plan Template

Sales managers and new sales representatives will benefit from this stunning 30-60-90 Day Sales Plan because it documents the progress, challenges, and victories you record as you do business, day in and day out. You can use this PPT Template to ensure members of the sales team are growing in their roles and to identify any need for additional training or guidance. With this PPT Template documenting goals and accomplishments, it becomes easier to carry out the sales performance review process. Managers and their team members can see details of their work that they might have otherwise forgotten over time. Get it now!

30-60-90 Day Sales Action Plan Template

Template 7: Sales Action Plan Steps Template

Presenting a six-step Sales Action Plan Template for an easy understanding of the concept and providing directions to the entire team. The first step is defining the sales objective, evaluating the current situation, listing barriers to success, assessing strengths and assets, creating a sales call strategy, and outlining an action plan. This complete and comprehensive process is presented here in a foolproof manner. Download it today to get started!

Sales Action Plan Steps Template

Template 8: Sales Action Plan with Brand Development and Advertisement

Use this Sales Action Plan Template to create a strong brand presence and reach the maximum target audience. This PPT Slide highlights vital elements of developing a brand. These elements focus on identifying top customers, advertising, increasing networks, and updating and developing a plan. It also offers suggestions on how to identify prospects and create a personalized approach plan. This presentation template also includes appealing icons to help you recall all these stages when needed. Download it now!

Sales Action Plan with Brand Development and Advertisement

Template 9: 10-steps to Develop an Effective Sales Action Plan

Deploy this 10-step sales action plan template to give your employees direction and purpose. It will ensure that your staff have everything they need to achieve their goals when it comes to sales quotas and prospecting. The more detailed your action plan is, the less likely it is that your team will end up confused and struggling to make decisions for themselves. Using this foolproof plan, then, becomes a necessity. This PPT Slide entails activities that are a must-have for any sales plan. Grab it now!

10 Steps to Develop an Effective Sales Action Plan

Template 10: Sales and Marketing Action Plan Sample

Are you looking for a well-structured and easy-to-use sample to display your sales and marketing action plan? This PPT layout is an ideal pick to chart your online advertising and market research action plan. Use this template to track performance and make informed decisions for future sales planning, as it offers you the option of adding sub-categories. This table will help everyone stay on the same page and suggest necessary changes to bridge the gap between potential and performance. Download it now to speed up the process!

Sales and Marketing Action Plan Sample

Template 11: Sales Action Plan T emplate for Online and Offline Channels

Increase your sales with the help of this strategic sales action plan for online and offline channels. It includes a comprehensive layout to tabulate the products and services to offer and the budgeted costs of in-store, online and wholesale channels. It will help you make informed calls regarding who you want to sell to, what your revenue goals are, and how you’re going to structure and prime your teams for success. Download it today to futureproof your business!

Sales Action Plan Template for Online and Offline Channels

SALES SPELL SUCCESS

A sales action plan is the easiest way to draft your objectives, strategies, and tactics in a way that your team can understand and work effectively to achieve success. It helps you identify likely obstacles and roadblocks so that you can come up with ways to bridge the gaps and overcome challenges.

Now you are aware of how to create a compelling and practical sales action plan, it’s time to put your knowledge into action by downloading these powerful PPT Templates.

FAQs on Sales Action Plan

What is a sales action plan.

A sales action plan highlights your tactics to achieve your sales goals, focusing on transactions and relationships that you can develop with customers. It gives information about who you want to sell to, what your revenue goals are, and how you’re going to prepare an effective team to achieve success. An effective sales plan should communicate your sales objectives and goals and outline the roles and responsibilities of the team. It should also be able to deliver strategic direction to your sales team.

What are the steps of preparing a sales action plan?

The ten crucial steps of preparing an effective sales plan are:

  • Identify yourself to customers; what do you stand for, and what do you offer
  • Identify prospects; who will or should buy from you and why? Be clear on this
  • Identify team members
  • Create an approach plan
  • Use the power of advertisements well
  • Invest in brand Development
  • Increase Network
  • Take Feedback
  • Update and develop Plan
  • Track Performance

Why having a Sales Action Plan is important?

A Sales Action Plan helps you give your sales team the guidance that they need to make smart business decisions. With a Sales Action Plan, you support your sales team members by addressing issues that are within your direct control, such as a lack of guidance and direction. Once you are in the game, improved results are a given.

A sales plan includes a strategy that works for your representatives and ensures that they have everything they need to follow to achieve the targets that are handed out. With a robust sales plan in hand, you’ll find that the meetings, demos, and closed deals will be natural results that will help enter the success cycle; most importantly, you will be able to stay there as well.

Related posts:

  • How To Draft A Yearly Sale Plan With Sample Templates To Boost Your Annual Sales! [Free PDF Attached]
  • Top 10 Sales Strategy Plan Templates with Samples and Examples
  • Top 10 Sales Growth Plan Templates with Samples and Examples 
  • How to Design the Perfect Service Launch Presentation [Custom Launch Deck Included]

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How to Increase Retail Sales - 11 Tips

  • by Lisa Sills

minute read

How to Increase Retail Sales - 11 Tips

Whether you’re looking to build on the positive momentum or trying to fix a dip in sales, you’re in the right place.

We reached out to retail experts to curate a list of tried-and-true things they’ve done that had a measurable impact on their sales. 

Let’s dive in! 

  • Focus on the customer service
  • Prioritize your customers
  • Turn your store into a destination
  • Invest in your point of sale marketing
  • Refresh your in-store displays
  • Reduce wait times
  • Generate more online awareness
  • Increase in-store foot traffic
  • Set up a customer loyalty program
  • Level up your staff training
  • Focus on upsells and cross-sells

1. Focus on the customer experience

Your employees are your store’s front line. They’re the ones interacting with customers, creating positive connections and actually selling your products, so it makes sense to invest in them. 

To get your staff to effectively drive in-store sales, it’s important to: 

  • Hire passionate people: When a sales associate is passionate for the products they sell, it seeps into how they interact with customers and makes them more likely to create positive interactions. 
  • Focus on the customer’s needs: While sales are certainly important, actively listening to customers is even more so. By listening to what the customer says, sales associates can identify their pain points and better find a way to solve them through the products they sell. 
  • Emphasize the importance of personalized interactions: There’s no cookie-cutter way to work in sales. Actively listening to a customer’s wants and needs helps a sales associate find the product that’s right for them. 

Roberta Perry, Founder of ScrubzBody skincare products, decided to open a retail store to have a touchpoint where she could engage with her customers directly and help them solve their problems.

For her, offering great customer service that simply can’t be replicated online is the key to more lifelong retail customers (and sales).

“We treat our customers so well that they bring friends and families. We host in-store events like Ladies Nights, which brings in groups of 6-18 in one shot. We believe that being genuine and truly caring about their buying and using experience is key . We want them to get the right product, instead of just selling them what we think they need,” she says. 

Roberta hit the nail on the head: make your customers your top priority. Which brings us to the next point…

2. Prioritize your customers

Being customer-centric is something that every retailer should aspire to be. It really comes down to understanding what your customers want and making their needs your top priority. 

That doesn’t just end at having the products they want in stock. It starts by making customers feel good. 

If your sales associates treat the people that walk into your store like people, you’re heading in the right direction. Nobody likes being sold to, so enough with the pressure sales tactics. Just have a conversation with the customer, find out what they need and propose a few solutions that match their price point. If they like your service (and the product), they’ll come back. 

If you don’t carry the product that your customer truly needs, don’t be afraid to recommend it to them anyway and tell them where they can buy it. They’ll appreciate the help and your sales associate will establish trust with the customer. When that customer comes back to your store, they’re far more likely to trust your sales associates as a result. Think long-term relationship-building, not short-term sales! 

The most successful retailers are obsessed with their customers and making them happy. Are you? 

3. Turn your store into a destination

Carlos Castelán, Managing Director of retail consulting firm The Navio Group , also stresses the importance of having an imaginative in-store experience. “Customers crave unique, creative and memorable in-store experiences.”

Not only does that include approachable, knowledgeable staff (that’s a given), it also means rethinking the way your store operates. People are so accustomed to the typical store setup: there are products, salespeople and a cash register—boring.

Companies like Glossier and Casper have pioneered a new store format: it’s called experiential retail .

In a nutshell, what that means is that the store’s goal is more than just to sell products; it’s to create an immersive experience that focuses on customer engagement.

How do they achieve that? With interactive product demos and fun activities that are related to the products they sell.

For example, Casper’s New York store has nap pods that people can rent for a 30-minute nap. They come fully-equipped with a Casper mattress, sheets, and pillows, along with a bathroom to freshen up after your nap. If people enjoyed their nap, their perception of Casper’s products is positive and the probability that they buy Casper products and become brand evangelists is higher.

There’s science to back this up, too. When a person touches and interacts with a product, they’re more likely to develop an affinity for that product.

In an article published by Harvard Business Review , Lawrence Williams, a marketing professor at Leeds School of Business, says “Physically holding products can create a sense of psychological ownership, driving must-have purchase decisions. This idea may underlie the push to move inventory from display cases into customers’ hands, a trend seen in many electronics outlets such as the Apple Store.” Pretty cool, huh?

Experiential retail is blowing up and there are tons of ways you can apply the concept in your store. We teamed up with Cate Trotter, Founder of Insider Trends , to cover this topic in-depth—read her piece below!

Related Read: 

What is Experiential Retail? An Inside Look

4. invest in your point of purchase marketing.

Point-of-purchase marketing is when you place low-investment products near your cash register (where customers complete their transactions). This is meant to incentivize impulse purchases of products that aren’t expensive. 

Unlike the products on your sales floor, customers only take a couple of seconds to decide whether or not they want to buy a point-of-purchase product. If you sell low-investment products (like shoe cleaners, gift cards or accessories) consider placing them near your point of sale.

Related read:

How to Unlock the Power of Impulse Purchases with Point of Sale Marketing

5. Refresh your in-store merchandising

Assembling persuasive in-store merchandising is part art, part data.

You use data to pinpoint which products are typically bought together, and you use your creativity to make those products look irresistible. 

Let’s take a look at the approach Outdoor Voices took for their in-store merchandising. 

  • There’s no clutter. The only things that your eyes are drawn to are their products. Displays that are too busy will just overwhelm your customers and make your store look cluttered and unkempt.
  • It’s organized. Every product has its place. It’s easy for customers to find what they’re looking for faster, which contributes to a better overall shopping experience. 
  • Related products are grouped together . Notice that pants and shirts from matching color palettes are next to one another. (hint, if you want to see which of your products are typically bought together using Lightspeed Analytics, just check out your Commonly Bought Together report. 
  • Must-have, low-cost accessories are nearby. Odds are, if you’re buying stylish gym gear, you need a bag to carry it in, right? Outdoor Voices probably placed their tote bags next to their gym gear for exactly that reason. 

action plans to increase sales in retail

6. Reduce wait times

Long wait times to pay are a big turn-off for customers and can cripple your sales. 

Research from Irisys found that Americans will typically abandon a checkout line and leave a store after waiting eight minutes, while British shoppers wait just six minutes before heading for the door. 

The best way to stop losing sales due to long checkout lineups? Eliminate them altogether. 

Barbara Thau , a contributing writer for Forbes, suggests that brick-and-mortar retailers need to “banish the wait in line, once and for all” to avoid losing sales. 

But how do you do that? 

It starts with scheduling enough sales associates to serve customers quickly even during peak hours. In Lightspeed Analytics, you can easily see when your peak business hours are in the Sales by Hour of Day report . Use that information to make sure you schedule enough workers to assure you’re promptly serving each customer. 

Next, why not eliminate cash registers altogether? 

Unlike traditional cash registers and on-premise point of sale (POS) systems, cloud-based POS systems enable sales associates to serve customers and ring up sales from anywhere in the store. This helps customers get in and out of your store as fast as possible, which is what most of them want anyway. 

Ring up sales from anywhere

With Lightspeed’s cloud-based POS, you can eliminate customer wait times, all while offering amazing service.

7. Generate more online awareness

Clicks and bricks isn’t just a catchy line; it’s literally how consumers shop now. 

In 2018, 40% of retail purchases were made by first using online search. Increasingly, people are researching what to buy and where to buy it online before ever setting foot in-store. When they get to the store, those multichannel shoppers spend an average of three times more than single-channel shoppers. 

Of course, retailers should have an online presence, but that doesn’t just mean having a transactional website. Things line a Google My Business (GMB) profile, Facebook and Instagram are amazing tools to get discovered by more potential customers in your area. 

With a little bit of work, you can make it easier for people to find your store online, research what products you offer and get directions. Your goal is to make it as easy as possible for customers to see that you have what they need. 

Setting up a GMB profile and optimizing your Facebook and Instagram accounts for local online searches isn’t as hard as you may think. We wrote a step-by-step guide on how to get your business found by more local customers online—check it out to get started! 

Related read: 

How Retailers Get Found Online in 2019

8. Increase in-store foot traffic 

What good is online awareness if nobody is actually visiting your brick-and-mortar store or buying online?

It’s not worth very much. 

Part of that is getting a transactional eCommerce store up and running; the other part is showing customers that your brick-and-mortar store has what customers are looking for.

There are several ways to incentivize customers who discover your store online to visit and make a purchase. 

  • Organize in-store events. The benefit? If a customer is interested, they have to visit your store. Things like weekly clubs, workshops and hands-on events are a great way to build a community and generate more visits. 
  • Run exclusive in-store offers. Nobody likes passing up a great deal. Try offering a free giveaway for in-store purchases, or featuring certain items available exclusively in-store.
  • Show inventory levels online. People are more likely to visit your store if they know you have what they’re looking for. With Lightspeed eCom, you can show your brick-and-mortar inventory levels online in real-time by just turning on the Show Stock option. 
  • Offer free in-store pickup. This option benefits both you and your customers. For them, they can avoid paying for shipping, while you save on shipping costs.

This is a pretty big topic to unbox in a few paragraphs (actually, it’s impossible to do it justice), which is why we write an entire blog on the topic. Check it out below! 

How to Increase In-Store Foot Traffic

9. Set up a loyalty program

A loyalty program incentivizes customers to purchase more to unlock personalized rewards. It’s a super accessible way to increase customer lifetime value while rewarding your customer’s loyalty to your business. When customers can use their loyalty program points to discount future purchases, you can bet they’re going to take advantage. 

10. Don’t treat product returns like a loss

Returns happen, and when they do, customers should get the same great service as when they bought the item. 

Put yourself in their shoes. The product didn’t work out; they’re disappointed, too. 

Treat each return like a sale and serve them willingly and with a smile. It makes the customer feel like they’re valued for more than just their hard-earned money, which creates an emotional sense of loyalty. 

If they appreciate your service, they’re more likely to make another purchase at your store. Make the process quick and painless, and most important of all: treat your customers with positive intent. 

Of course, there are serial-returners out there who will try to take advantage, but a loyal customer base that consistently shops at your store because of great service more than makes up for that minority.

11. Focus on upsells and cross-sells

Upsells and cross-sales can add up; have you considered making them a part of your sales strategy? When done wrong, it can make your sales associates (and your store’s reputation) look sleazy and self-serving. 

But when done right, it’s just flat-out great customer service. 

With upselling , you should train sales associates to use the rule of three. Take the item that the customer was initially interested in (for example, a pair of running shoes) and showing the customer three different models at three different price points (entry-level, mid-level and high-end). 

This is the best way to upsell since it shows the customer that you understand their needs. You want to show them everything that’s available so that they can make the most informed decision possible. You’re not pressuring them; you’re informing them. 

With cross-selling, you should apply a similar approach: don’t try and sell a customer something they don’t actually need. 

If we go back to the shoe example, an example of an authentic cross-sell would be educating them on the various types of running socks: from expensive compression socks and moisture-wicking ones to the generic cotton socks. Educate them on the differences between the three and let them choose what’s best for them. 

With cross-selling, another important factor is “does this purchase make sense?” For shoes, socks are pretty much a given, but sometimes it can be tricky. The best way to find out if a customer needs anything else is to simply ask “can I help you with anything else today?”. 

Remember, a sales associate’s job is to facilitate the customer’s needs and offer solutions. Suggestive selling is the most authentic way to do that without coming across as an overly-pushy, selfish salesperson. 

Wrapping up 

Hopefully can find some tips and tricks above and use them to increase retail sales. Ultimately, it comes down to prioritizing your customers and understanding that you’re in the business of serving them. 

From your staff to the systems you use to run your store, everything and everyone’s job should be to create more “wow” moments and earn their trust; the sales will naturally follow. 

Want to create an efficient in-store experience that your customers will love? Talk to one of our retail experts today to see how Lightspeed can help! 

action plans to increase sales in retail

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Lisa Sills

Lisa Sills is a Content Strategist at Pointy, the retail marketing experts who give independent retailers the tools they need to thrive online. Lisa has worked in marketing for six years and has a particular love for content. When she's not writing, you'll find her out on her bike, taking photos of pets, or traveling.

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10 Ways to Increase Sales in Retail Stores

Revel Systems | December 31, 2020 |

10 Ways to Increase Sales in Retail Stores

In the retail industry, seasonal sales dips are inevitable. Shopping habits change, as do economic circumstances, potentially leaving thousands of retailers struggling to stay afloat. Occasionally, situations beyond our control, such as COVID-19, can force the retail industry into turmoil and even recession.

However, there is hope ahead! If you’re wondering how to increase sales in retail, we will share some handy retailing tips. Read on to discover ten steps towards an action plan to increase sales in retail. 

Ideas to Increase Sales in Retail Stores

Create a buzz.

Whenever anything exciting happens in your business, highlight the milestone or event on your social media pages, and send a press release to local media. For example, if you decide to launch a mid-season sale, you could promote it on Instagram and Facebook and send a press release inviting customers to a special launch event. These are marketing tactics that could significantly improve retail sales.

Celebrate a New Occasion

A new occasion is a perfect excuse for generating buzz and increasing sales. This occasion could be a date of significance like the date that your store opened. Every year, you could create a ‘Birthday event’ for your store and its customers.  During this event, you can run special promotions as one of the many ways to increase sales in retail.

Become More Customer-Centric

Still pondering how to drive sales in retail? First, revamp your customer service by listening to your customers’ desires and expectations. Next, educate your clientele about your products. Finally, let your valued customers know that you appreciate their business. This can be achieved by rolling out reward schemes or being creative around your approach to customer experience.

Use Social Media 

One of the most cost-effective ways to increase sales in retail is to harness the power of social media for your store. The best approach to social media for a retail store is to post regular updates and images across channels like Instagram and Facebook. Your followers will lose faith in your social presence if you only post to promote a sale, so share content that informs, entertains, and provides value.

Make Sure Your Store Ranks in Search Engine Results

You want your store to be visible when somebody searches online for products that you stock. For example, if you sell women’s shoes, you’ll want to be on the first page of Google’s results when someone searches ‘women’s shoes near me’. To ensure online visibility, make sure you list your business on Google, Facebook, and any local directories.  Consider investing in SEO to increase your foot traffic and online visibility.

 Implement ‘Click and Collect’

If you want to know how to increase retail sales in the current economic climate, you should implement a ‘click and collect’ service for your customers. COVID-19 restrictions have seen thousands of stores forced to close their doors, ‘click and collect’ services offer customers contactless shopping solutions. Parking lot pick-ups or home delivery services could help you to stay afloat over the coming months.

Get Smart With Your Recruitment Selection

It’s in your best interest to hire employees that really want to be part of your business, know your products inside out, and flex their natural affinity for sales. This means smartening up during your recruitment drive and implementing a world-class training policy to ensure your staff are the best of the best.

 Make Sure Your Store Looks the Part

Having a fantastic looking store is the first step towards looking the part. However, if you want to keep driving foot-traffic and sales, you need to keep your in-store visuals relevant and fresh. This requires updating the interior décor in line with the latest seasons and trends. Mark shopping dates and special occasions in your store calendar and make sure your store is decorated to promote any special events.

Advertise More

During slower sales periods, it’s a good idea to increase your marketing spend. This could mean investing an extra $100 into social media advertising or paying for an ad in your local newspaper. The type of advertising that will increase sales for your business depends on your industry, location, and clientele. For example, if you run a sportswear store, it could pay dividends to work with an Instagram influencer in your area with a large sports-related following.

Install a World-Class Point of Sale (POS) System

In addition to facilitating purchases, POS systems help retailers to track inventory, communicate orders, register coupons, track buyer habits, and market their merchandise. They are a vital part of the marketing, management, and customer service mix. Efficient POS equipment can help you increase sales, save time, and become a more streamlined and efficient business.

Start Increasing Your Sales Today

There you have it, ten steps on how to increase sales in your retail store. Revel’s expert team of retail sales professionals has been installing and implementing POS hardware for many years. We’ve helped thousands of retailers significantly improve their customer experience while increasing their sales. Contact us for a free demo today.

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How to increase retail sales at your small business

Estimated Reading Time: 6 minutes

We chatted with Kate Nightingale , a consumer psychologist, to learn more about the subtle cues shoppers take that lead to increased spending. Read on for Kate’s expert tips and learn how to increase sales at your small business.

Encouraging potential customers to venture inside your shop or eatery for a closer look is a top priority for every small business owner. Whether you use an appealing window display, a witty message on an exterior sign or the enticing smell of fresh coffee, chances are you’re already doing something to attract attention.

But once these prospective customers are inside, how do you prevent them from leaving empty-handed? Here, learn how to increase sales for your small business.

11 ways to increase sales:

  • Let customers try before they buy.
  • Understand customer movement.
  • Create an engaging environment.
  • Encourage recommendations.
  • Stock up on what sells.
  • Offer your expertise.
  • Optimize your counter space.
  • Make sure your business is easy to find online.
  • Tell an authentic brand story.
  • Host an event.
  • Ask for feedback.

1. Let customers try before they buy.

Remember the last time you were at an ice cream shop? As we all do, you went in with the intention of just getting one scoop…until you tried a spoonful of a new limited-edition flavor. Before you knew it, one scoop led to two. Kate suggests taking this same approach to your own business -after all, letting customers try before they buy is a powerful way to up-sell and get feedback on a new product.

One of her suggestions is giving customers a sample when they walk through your doors -you’ll immediately boost their mood and earn some generosity points. This gesture can also cause shoppers to feel like they need to return the favor, whether with a purchase or a positive review.

Whether you’re an ice cream parlor, cosmetics shop or specialty hot sauce store, start giving out samples! For very little investment and effort, you can gauge customer opinion, ask for their feedback and convince customers to buy the product they just tried.

action plans to increase sales in retail

2. Understand customer movement.

It’s important to understand how customerswill move through your store. If you’ve just recently opened your business, track the path customers take through your space and make adjustments as needed. The layout and distribution of products may make perfect sense to you, but you’ll only be able to tell if things are laid out effectively from seeing customers move around your store and interact with your inventory. If they can’t find what they’re after, they can’t buy it.

Also, don’t be afraid to ask customers for practical feedback about the layout of your shop and the way items are displayed. Gathered early, this kind of feedback can help you create a relaxing and inviting space that puts clients at ease.

VistaPrint Tip

Make your shop’s layout even clearer with marked walkways – stick decals to the floor (IKEA, anyone?) or hang posters to provide direction.

3. Create an engaging environment.

Your shop should be a place customers feel comfortable in, whether through music, lighting, decor or even scent. Kate recommends using dim and warm-colored light in your physical space or -this can help activate shoppers’ desires and result in impulsive spending. If you have a brick and mortar business, Kate also suggests choosing a signature scent for your space. Using the same scent consistently throughout your store (and even spritzed onto brochures and postcards!) can increase sales in retail by 32%. You’ll build a subconscious connection with your customer and help them better remember your business.

If you want, you can take this scent experience a step further. If you always burn the same candle scent or incense in your store, make it available for customers to purchase…complete with branded packaging, of course! Or, work with a business that specializes in candle making or scent design to create your own signature scent.

4. Encourage recommendations.

Another way to get new customers through the door is to recruit your existing customers -offer them referral incentives when they tell their family and friends about your business. Referral programs are becoming more and more common, and function particularly well when both your customer and the person they refer have something to gain. As a business owner, consider creating a loyalty program that rewards frequent purchases but also gives shoppers an incentive for referring friends and family to your business. You could do this via social media or with a ‘share with a friend’ loyalty card , or a special code to use at your online shop.

5. Stock up on what sells.

You should always prioritize keeping top-selling items well-stocked -even if that means having more of one size or color on the shelves. Let customers know that you have additional sizes and colors available in the storeroom or online with a tabletop sign .

Out of an item a shopper is looking for? Use this opportunity to collect a customer’s email address or phone number to alert them later when the item becomes available. Or, give them a discount when they pay for the item now, and you can deliver it once it arrives.

action plans to increase sales in retail

6. Offer your expertise.

If you sell products like clothing and gifts that aren’t unique to your business, think of your space as a showroom. Many shoppers have become accustomed to visiting physical shops to research a product before comparing prices online. Though many may consider this an unfair advantage for online retailers, it gives you an opportunity to position yourself as a trusted expert and score in-store sales.

If you sell a niche product, then chances are the people coming to your shop are well informed before visiting you. Nothing says ‘professional’ more than an encyclopedic knowledge of your product range and the comparable benefits of similar items…and consumers will love the fact that you have the answers to all of their questions. If you can demonstrate added value by offering expert help to people browsing in your shop, you’re much more likely to convert them to buyers –and less likely to lose them to online competition.

Create a welcoming sitting area where shoppers will feel comfortable chatting with sales associates and asking for your expertise. Kate suggests adding this kind of soft seating to help open customers up and make your business seem friendly and approachable

7. Optimize your counter area.

What would be an appropriate impulse buy at your shop? Decorated cookies to-go in a café, on-trend scarves in a boutique or optical lens cleaning products at a sunglasses shop are just some examples. If only 20% of all your customers pick up an extra item at the end -it all adds to your bottom line. Consider products that complement your top selling items and solve a problem. And most importantly, keep the price point low for these items so customers won’t think twice about adding them to their purchase.

8. Make sure your business is easy to find online.

Whether you run a brick and mortar business or an online shop, it’s critical that potential customers can find you online. Aside from making sure the information about your business is up-to-date (think: business hours, shipping policies and contact information), take time to make sure that your website is optimized for search results. You can do this by integrating keywords into the language on your site, whether front and center on your ‘About’ page or added to the bottom of your homepage. And aside from your own website, make sure your Google My Business page is up-to-date so you appear in search results.

While in the past it may have been a best practice to place your keywords here, there, and everywhere – that’s no longer the case. Think of your focus keywords as focus topics instead. You want to stay on topic and do so explicitly. If you write with purpose you should naturally use the language needed to give Google a good idea as to the page’s focus. Of course, it can’t hurt to review, refine, and optimize your language as part of the editing process. Using the inbuilt keyword research tools inside of Wix is a great place to start. Mordy Oberstein, Head of SEO Brand at Wix

9. Tell an authentic brand story.

As a small business owner, your brand story is what sets you apart and gives customers more insight into you and your work. And when customers know more about you and your story, they’ll feel an emotional connection to your business and be more compelled to make a purchase. Include your story on your ‘About’ page on your website, or on marketing collateral like postcards, brochures and flyers.

action plans to increase sales in retail

10. Host an event.

What better way is there to get customers through your doors (and increase sales!) than an event? Whether you hold a special sale or studio workshop, get people excited with the promise of a unique event . And make it even more irresistible with raffles, giveaways or other freebies -maybe you reward customers with a raffle entry for each purchase they make.

Once you’ve decided on the type of event you want to host, spread the word on your social channels. Create an event that customers can RSVP to on Facebook, share a video on TikTok to get people excited or post a reminder on Instagram. Don’t forget to snap photos during the event, too, so you can share a re-cap afterwards and build excitement for your next one.

Create a playlist for your event -and choose some less popular music. According to Kate’s study, playing lesser-known music can result in customers lingering longer and spending up to 20% more.

11. Ask for feedback.

A surefire way to increase sales as you plan for the future is to ask for feedback. You could use a physical comment card or send out a survey via email to collect thoughts and opinions on anything from store design to product selection to customer experience. Beyond gaining valuable insight, you’ll show your customers that you value their opinion and want to make them happy.

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8 tips to increase sales in retail

action plans to increase sales in retail

Are you looking to boost sales in retail in an innovative and powerful way? We understand how competitive the retail industry can be. The truth is, it doesn’t matter if you have a unique business niche, or a killer USP, the retail industry is demanding. In a digital world where consumers have an array of stores at their fingertips, you need an edge and something that will set you apart from your competitors. 

Here are our top 8 tips to increase sales in retail.

1. Maximise the potential of your data

As Peter Drucker, “You can’t manage what you don’t measure.” As a retail business owner, it is vital that you measure the effectiveness of your sales and marketing tactics. Here are a few simple metrics that are available via our intuitive real time performance management tools: 

Number of shoppers or customers

Ofcourse, one of the key ways to improve sales in retail is to increase the volume of shoppers that enter your store. It goes without saying that you should also aim to encourage those shoppers to make a purchase. With access to this data, you can monitor the customer/shopper ratio and devise ways to increase it. 

Sales per employee

If your retail business utilises a sales team that actively sells to shoppers in your retail store this metric is highly valuable. By looking at the average sales per employee, you will be able to monitor who your top performers are and place them on shifts during busy periods. In addition, you can identify the weaker sales team members and provide them with additional training. 

Average sale per customer

If you’re making an effort to up-sell and cross-sell to shoppers this metric can tell you how successful your efforts are and ultimately help in driving retail sales.

Choose a system that constantly provides real-time data of performance data across staff and regions remotely and quickly, with a user friendly interface to ensure you and your staff monitor their performance and help to ensure your key performance indicators are achieved.

digital retail

2. Use Digital Signage in your store

By implementing digital signage you can truly enhance shoppers overall experience, whilst implementing sales boosting strategies. In terms of functionally, retail digital signage should provide clear guidance that helps customers find what they are looking for, including certain products, toilets and cashiers. To maximise the ROI of your digital signage you should use them to inspire customers to buy. 

How can you use digital signage to increase retail sales?

Store front

Use digital screens at the front of your store and be sure to share a message that is bold, simple and visual. Messages should give a broad insight into the retail store, as well as, share special offers/promotions in order to entice shoppers. 

Point of sale

At the point of sale, where people will likely be queueing, you can share more copy-heavy messages on your displays. Why not use the counter area to advertise your loyalty program? Staff can then reinforce the message at check-out and encourage the shopper to sign up.   

3. Attract new and loyal customers to your company

No matter what sector of retail you are in, consider establishing a loyalty scheme for customers to market and reinforce your brand. By using a loyalty CRM system you can target specific client groups, cheaply and effectively, at a low cost. By offering rewards to customers you will build a growing base of loyal customers.

What are the benefits of implementing a customer loyalty scheme? 

Attract new customers

Retain customers

Harness data

digital shop

4. Transform your store into a destination

If you are wondering how to increase sales in retail, why not transform you store into a destination? By doing this, you will stand out amongst other retailers that may offer much lower prices but lack a sense of community that focuses on customer experience. You should consider things that make the shopping experience more pleasant. For example: 

Charging stations

Free beverages

Consultations

This will not only increase footfall, but it should keep shoppers in your retail store for longer, whilst maximising the chances of purchases. 

5. Improve online presence

In today’s age it is vital that shops manage their online presence in order to maximise sales in a retail store. This includes building a website that conveys everything that needs to be known about your unique and remarkable business. 

How to use your website to drive brick and mortar store sales? 

Optimize for mobile

According to MOZ Local reports, over 50 percent of mobile queries have local content. What does this mean? Consumers are trying to find brick-and-mortar stores from their mobile devices. 

Actively encourage users to visit your physical store by sharing special offers 

Increase footfall to your retail store via targeted marketing campaigns that provide different segments of your audience with personalized, tailored content. 

Make stores easy to find

Many consumers will be willing to shop in-store so they can see an tem in person before making a purchase. It is therefore important to include store locators that are user friendly and include useful information such as address, direction and opening hours on your website. 

Tip - to increase website traffic, awareness and ultimately increase your retail sales, list your site on review platforms such as Yelp and Google.

digital screen in retail

6. Social Media advertising

Beyond managing reviews on Google and Yelp, you should consider using advertising tools on platforms such as Facebook to increase footfall to your retail store and implement an action plan to increase sales.

Why is Facebook such a powerful advertising tool for businesses in the retail industry? 

Facebook has access to an incredible amount of data and makes it available to advertisers. So, if you’d like to target 18 - 32 year old females that live in London, with an annual income of £40,000, who are interested in designer clothing, you can do it. 

Once you become comfortable with Facebook’s targeting, you can increase your advertising. For instance, you could promote your loyalty scheme to people who are already fans of your Facebook page. 

7. Use Content Marketing

In order to succeed online you need to be actively engaging your target audience. It is not enough to wait for customers to find you. 

There will be potential customers who are looking to inform themselves on your business online and it is your job to find them. In order to do this you need to engage them in conversation by having a proactive approach to content marketing.

What content will engage your audience? 

Content that adds value

Content that is useful 

Content that is intelligent 

Content that is humorous

By providing engaging content you are demonstrating the value you will add to potential customers’ lives.  And through this, driving retail sales in the process.

digital screen in malls

8. At the Point of Sale

As a retail business owner, you will be looking to bring new customers into your store. However, the customers you already have are your most underexploited resource. Consider how many of your customers leave your store having spent what they were willing to? How many will rave about their experience to friends and family? How many will come back? 

By making the most of the opportunity that is already with you, you can be sure that you are extracting the most value out of each customer. 

There are four core goals you should aim to pursue at the point of sale in order to increase retail sales for your store:

Email Receipts

Repeat Customers

We understand the challenges involved in running a retail store, so take some time, read through our tips on increasing retail sales again, and select just one or two tactics to begin with. Implement them and evaluate their success. Then gradually implement a few more. When applied effectively, you can expect to see a much healthier and profitable business. 

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4-Step Action Plan to Achieve Sales Targets

action plan to achieve sales targets

As we round out the first half of the year, it’s a great time to regroup, recalibrate, and prepare our sales teams to hit the year-end sales goals we’ve set for them.

Maybe your sales team has veered slightly off track since the target was set? By assessing your current situation and creating an updated action plan, your team will have a roadmap to follow and a renewed motivation for how to achieve your sales target.

Follow this 4-step action plan for sales target achievement:

action plans to increase sales in retail

Step 1- Analyze the Past

Analyzing trends in your results up to this point in the year allows you to pinpoint challenge areas and determine the next steps for improvement. (It also reveals what is working well.)

Ideally, your team is regularly conducting post-sale analyses and documenting the findings. This sales action plan process is often overlooked as salespeople are eager to move on to the next business opportunity, but the results are extremely effective for creating a sales strategy moving forward. Make it a point to learn from your losses and repeat the things that have been successful in the past.

It’s also important to analyze your sales funnel by stage. That allows you to look back and see where your salespeople are losing opportunities. Is it in the early stages or in the late stages? Knowing the answer to that will show you where to focus on skills training and coaching.

Step 2- Identify Challenge Areas

Based on the information you gathered in Step 1, determine where skill gaps exist. For example, if conversion rates are low in the early stages, your team likely needs support with a pre-call investigation, qualifying prospects, questioning, or establishing trust early on.

And if conversion rates are low in the later stages of the sales funnel, you may need to focus on skills such as building value,  managing objections , gaining commitment, and  negotiating  price.

Metrics aren’t the only way to identify obstacles that stand in the way of maximum output for your team. One of the most effective methods is simply to ask them!

Ask each salesperson what challenges they’re facing out in the field with prospects and customers and get their input on what sort of tools or resources would help them improve their performance. Soliciting feedback  will also make your reps more receptive to any sales action plan training or coaching you move forward with.

SPEAK TO A SALES PERFORMANCE EXPERT ABOUT IMPACT SALES TRAINING TODAY

Step 3 – implement steps to help sales reps achieve sales goals.

Once you’ve identified your challenge areas, you need to decide the best ways to support your team to reach the sales goals you’ve set for them. Focus on the development areas that will lead to the highest return on your investment of time and resources and get you closer to achieving your sales target.

It may be that your team is struggling with a lack of qualified leads. If so, your first step needs to be improving sales and marketing alignment by discussing ways to align your marketing strategy with sales goals. Or, if your team is consistently struggling with price pressure, you may decide they need some sales skills training to help them build value and hold their ground with prospects and customers.

Whatever strategy your unique situation calls for, you should work with each salesperson individually to create a detailed business development plan. Work backward from the goal, and then decide and record the activities and objectives that need to be accomplished on a daily, weekly, and monthly basis in order to achieve sales targets.

Step 4 – Sales Coaching for Ongoing Success

It’s widely accepted by this point that sales coaching is the activity with the greatest impact on sales effectiveness. But according to the Sales Management Association, formal sales coaching strategies tend to be poorly executed or non-existent.

Establish a regular coaching cadence with your sales reps and make the meetings about development, not inspection. You can use this time together to ensure they’re on track with their sales action plans, reinforce new skills they’ve learned, and look for trends in what they’re doing well and where they can improve. You can find more information about how to hold effective one-to-one sales meetings in this blog post.

And if an aggressive sales target is causing them stress, make it seem more manageable by breaking the goal into smaller, easier to digest chunks.

Let’s work together to achieve your sales goals.

When it comes to maximizing sales and meeting your company’s revenue goals, creating a sales action plan should be your top priority.

If you need help defining your course of action or setting it into motion, The Brooks Group has a team of sales effectiveness experts who can help you define and achieve your sales goals. Get in touch today.  

action plans to increase sales in retail

Written By Lisa Rose

action plans to increase sales in retail

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10 Ways To Maximize Sales In Retail

Let’s just cut to the chase — if you’re a retailer, your goal is to get new customers and keep the customers you have coming back, all in the name of increased sales. Without sales, you don’t have a business. Thus, strategizing about how to maximize retail sales should be a top priority.

According to the U.S. Census , retail sales hit a record of $7 trillion in 2022, which is better than the pre-recession high of $4.4 trillion that was spent in 2007. It’s safe to say there’s no “retail apocalypse” and that good business is there for the taking. 

But whether things are going great or you’re experiencing a slump, it’s important to always evaluate your current business strategy in order to make sure you’re maximizing retail sales as much as you can. Whatever your current situation may be, the tips below will help you get new customers, keep the ones you have, and increase sales. 

Optimize your online presence 

When looking to find stores and products, you can bet that consumers are turning to Google. So, make sure you’re showing up whenever they conduct a search relevant to your business. If you sell apparel, for example, then you want nearby customers to find your business whenever they run a search for “clothing stores near me.”

Be sure to set up business listings on Google , Yelp , Facebook , and other platforms. Add as many details as possible to your profile, including: 

  • Name, address and phone number, making sure these details are identical to what’s listed on your site and any other listings
  • Accurate business hours
  • Positive reviews
  • Lots of visual content including recent photos and a virtual tour of your store, if possible. 

You could also connect your stock catalog to Google local inventory ads , which are ad units the show up when customers search for specific products in their area — e.g., “water bottle near me.”

Google Local INventory Ads Example Bindy

When a user runs this type of search, Google will serve up products that are available in-store. Local inventory ads are effective at driving in-store traffic and attracting shoppers who are ready to buy. 

Master the arts of upselling and cross-selling 

Upselling — offering a pricier version of the original item a shopper is looking to purchase — is a tricky art. But done right, it’s one of the most effective ways to maximize retail sales. To do this effectively, you have to make sure the customer sees the value or benefit of the purchase. 

When you’re upselling, see if you can apply the “ Rule of 3 ,” which gives the shopper three options for their purchase — the Requested, the Alternative, and the Dream. Using apparel as an example, the Requested is that starting line or price point that’s easy to wear and can be dressed up or down. The Alternative is something that still relates to the Requested piece, but is listed at a more mid-price point. The Dream is one that you know they’re going to love — but it has a much higher price point. 

The key is educating the shopper. It could be that they don’t know that a premium product is available. Or, maybe they just need more evidence to understand how an upgrade is a better fit for their needs.  

Cross-selling

Now let’s talk about cross-selling. Cross-selling is when you recommend other products to complement the original purchase. The key to cross-selling success is to know your inventory inside and out.

Which items go well together? What products work best for different customers? When you know the answer to these questions, you can quickly make great product recommendations. 

Timing is also important. The best time to cross-sell is when the customer has committed to buying a product, and you’ve already gotten to know them. You wouldn’t want to push add-on items when the shopper is still deciding whether or not to buy one item.

Take your time when interacting with shoppers. Most important, make sure you’re telling them about products that would genuinely add value to their original purchase. 

https://bindy.com/

Create an event or holiday 

You don’t have to wait until November or December to maximize retail sales. People love to celebrate — and they love a good sale — so give them a reason to come and shop all year long. 

“At my toy stores, I created a series of events that compelled a busy parent to come in. It could be arts & crafts, or Anna & Elsa could come visit and do a sing-a-thon.” – Aalap Shah, former toy retailer, founder of digital marketing agency 1o8

One other retailer that does a tremendous job in this area is Sephora. Sephora holds classes covering everything from makeup techniques to skincare. And they distribute product samples to customers. 

Then to maximize sales after the event, Sephora sends attendees a “Beauty Recap” email. This email contains the exact products they used in class, along with links to purchase them. 

Sephora Beauty Recap Email Example Bindy

The key is to provide an experience that will not only bring people through the doors, but will get them excited about being there — and spending money. 

As for retailers creating their own holiday, look no further than Amazon. Amazon created Prime Day ;  a yearly shopping holiday when Prime members can score exclusive deals. Amazon Prime Day was first launched in July 2015 to celebrate the site’s birthday in July 1995. The day continues to be a massive success for Amazon — and that’s saying something, because the company is already massively successful. 

Amazon Prime Day Best Sellers Example Bindy

Prime Day enables Amazon to maximize sales like no other retailer, and the holiday just keeps getting bigger. In 2023, the retail giant experienced its biggest Prime Day yet, selling at least $12.7 billion worth of products .

Your retail business may not be as huge as Amazon or Sephora, but you can still implement the concepts of holidays and events in your stores. Just remember that initiatives aren’t just about making the sale; they’re about brand awareness. If the shoppers have a good time, they’ll tell their friends and family (and hopefully social media) and remember you the next time they go shopping. 

Make the shopping process easy and convenient

Once the customer has decided to buy an item, make it easy for them to take home their purchases. The last thing you want is to lose a done deal because of slow checkout or inefficient order fulfillment. 

Strive to streamline the checkout process by training your cashiers well and making sure your store is adequately staffed, so there’s always someone who can work additional registers. 

Jamie Hess, the CEO, and co-founder of the truck-sharing service Truxx , advises retailers to use technologies that reduce the barriers to purchase.

“Invest in self-checkout or other technology that virtually eliminates lines. Also, offer last-mile services, especially for large inventory items like grills, furniture or anything that won’t fit in a customer’s car.”

We can see this tip in action in a number of ways, including:

Mobile checkout

Sephora, for example, arms its associates with mobile POS systems so they can ring up shoppers from anywhere in the store. So, rather than falling in line, customers can complete their purchase on the spot and be on their way. 

Endless aisles

Some stores allow customers to browse their catalogs using in-store tablets. When the shopper sees a product they like, they can have the item shipped to their home. Known as endless aisles, these initiatives let you maximize sales because you can sell products that aren’t physically in your location. 

The key takeaway here is to eliminate any bottlenecks in the purchase process. Whether you’re dealing with long-lines, stock-outs, or just general inefficiency, you need to identify the issues and find ways to streamline the checkout process. 

As Hess puts it, you need to “make it easy for items to get to the buyer’s front door.”

action plans to increase sales in retail

Hire and develop superstar employees 

Given that your employees are often the ones doing the selling, make sure you’re hiring the best people for the job. It’s essential to communicate your expectations to each and every employee so that they know their role and responsibilities. 

Hire sales associates that are knowledgeable and passionate about your merchandise. Train them to create exceptional buying experiences with every customer. It’s critical that they learn to identify a customer’s needs and wants, match those needs to a selection of products, and show them the value of their options.

Your employees should serve as experts. Take a page out of the successful yoga apparel company, Lululemon . The walls of stores highlight pictures of their staff performing challenging yoga poses. Staff also attend and/or teach yoga classes. What this tells shoppers is that the staff are experts whose advice can be trusted.

View this post on Instagram A post shared by lululemon Middle East (@lululemonme)

Ensure you always have inventory on hand

The quickest way to lose customers is to not have the product they want to buy. This is why good inventory management is critical to maximizing sales. Arm your business with a robust inventory management system. Also, implement practices like regular stock counts to ensure inventory accuracy. 

Make sure you’re tracking the right metrics — GMROI, sell-through, inventory turnover, product performance, lost sales, etc. This help you know what products are making you money and which are taking up room on your shelves. 

Analyze historical data and current trends to forecast demand. Look at your product and sales reports and identify your top items and the types of customers purchasing them. This helps you figure out what items to order, the quantities you need, and the dates that you need them by — meaning you’ll always have the right products in-store to avoid stockouts.

Shah says that having the right products on the floor played a significant role in growing their sales.  “My team and I found that by having the right type of merchandise on hand for particular age groups and knowing the product inside out, we were able to divert showrooming and sell the product in the moment.”

Gaining visibility into your sites also makes them accountable

Optimize your email campaigns and get more subscribers

Email is one of the most effective channels for making sales and generating repeat customers. According to HubSpot , marketers report an average email open rate of 46-50%.

You can say things in an email you can’t fit in a social media post, and it’s a great way to actively promote your newsletter, blog, and any other promotions that bring people into your store. 

Plus, email is also convenient for the customer because it can be quickly brought up via a smartphone. This is crucial if you’ve emailed a coupon or discount that the customer wants to use in-store.

In order for email to be effective, you have to do more than build up your subscriber base — you have to provide value. Some emails your subscribers will appreciate include: 

  • A welcome/thank you message as soon as they make a purchase.
  • Exclusive promotional codes and free gifts. 
  • Regular newsletters announcing new discount offers, product tips, and upcoming promotions.
  • Relevant content that helps them get the most out of what they recently purchased.

action plans to increase sales in retail

Understand and show appreciation for your customers

The best way to increase retail sales is to have a customer-centric approach to your business. Above everything else, your job is to provide incredible customer service and an experience they won’t soon forget. 

This starts by actually talking and listening to your shoppers to understand their needs and their motivations. Showing genuine interest in why they came goes a long way towards fostering brand loyalty. And don’t forget to let them know you appreciate their business. This can be done through offers of value-added services and products, a customized loyalty program, or a simple note thanking them for their support. 

You can see this in action in the following handwritten note from Courtney, a Chanel associate. In her note, Courtney not only thanked me for the purchase, but she also mentioned specific details about my trip to the store, making the note truly personal. As a customer, this gesture made me feel genuinely appreciated. 

Engage with your customers

Have you ever been in an Apple store ? If so, you know that the employees are anything but bystanders. It’s easy to see why they lead retail sales by square footage charts with an impressive $5,500 in sales per square foot. The second you walk into the store — which is always crowded, by the way — you’re greeted by an associate who is a proud ambassador of the brand, who is ready to listen for and resolve any issues or concerns and present a solution for the customer to take home today.

Given that every person who comes into your store could potentially spend money and support your business, it’s key to smile and greet them with questions about what brought them in and how you can help meet their needs. Even if they’re just browsing, each customer should be treated the same, because each shopper could turn into a loyal customer if the relationship is properly nurtured.

Make good use of signage

Never underestimate the power of great signage in retail. When used correctly, signs can attract, educate, and compel shoppers to make a purchase. 

As Stan Tan from Selby’s puts it, having informational signage throughout the store aids customers in making a purchase decision. 

“If the customers aren’t sure about the product, which product to choose, the reliability of the product or have any doubts, he/she is walking out the door. With informational signage, you can help customers make those decisions by providing them the information they need at the point of sale.”

Consider this example from Old Navy, which offers more information on different types of jeans and how they fit.

Pro tip: Already using in-store signage? Make sure they’re well-executed by conducting retail audits . 

Ready to maximize retail sales? 

As a retailer, you know that there are only so many hours in each day, and you have to make the most of your time. In other words, you can’t do it all right away. But the recommendations above are a great way to ensure you’re getting the most out of your efforts and maximizing sales. Implement a few of these tactics, evaluate the results, and then do it all over again. Applied strategically, they’re the key to a steady stream of profitable sales. 

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4 thoughts on “ 10 Ways To Maximize Sales In Retail ”

Great Post !! Big thanks for sharing this post and providing in details information. And what about this one https://dwall.online/blog/how-digital-signage-helps-attract-more-customers-and-increase-sales-on-the-gas-station

Thank you so much for your insightful and well-articulated article and You have covered important points. Your article is very informative and applicable. Thanks for sharing

Thanks for sharing this!

They are very useful tips to increase revenue

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action plans to increase sales in retail

Increase Retail Conversion Rates: 8 Strategies for Brick and Mortar Stores

April 9, 2024

Group of co-workers discuss how to increase conversions rates at their retail store

T he world of retail is competitive. Putting your small business on the map takes plenty of time, money, and hard work.

You probably use social media, SEO, and advertising to build a presence online. And perhaps you also buy print ads, attend local events, and cross-promote with other brands to build a brick and mortar reputation.

With successful marketing comes more foot traffic. But it doesn’t necessarily mean more sales. Any customer that sets foot in your store but walks out empty-handed is a lost opportunity.

That’s why it’s so important to focus on how to increase conversion rate in retail. From adjusting small details like shelving and store organization to improving customer experience, you can convert more sales for your store. 

an infographic showing '8 strategies to increase retail conversion rates'

1. Pay Attention to Shelving and Retail Store Organization

Does anyone remember the nightmare of walking into a Toys “R” Us? The only thing memorable about it was its absolute chaos. It didn’t work out too well for them. So keep your store clean and organized . Your retail space represents your products, so make sure it’s doing it well.

You might also consider revamping your store layout . The products should be placed strategically, which makes for a convenient shopping experience. Finding most items should be intuitive for the average shopper. Placing complementary items together increases your average transaction as well.

Keep your shelves uncluttered. It’s important to be well-stocked and have full shelves, but don’t leave too much room for customers to make a mess of it.

Pay attention to visual merchandising and displays. Every retail space has prime areas, such as the “power wall” (the space directly to the right of the entrance) or the area around your point of sale. Take advantage of these by placing popular items or special deals around them. A customer will be more likely to grab something, at least.

Finally, keep the entrance and the first 10-15 feet open. Sometimes referred to as the decompression zone, retail design experts contend that this space should be uncluttered so that customers can acclimate to the store and feel less overwhelmed. Shopping can be stressful!

2. Keep Your Lines Moving Quickly and Looking Short

Long lines are a great way to scare off potential shoppers immediately . The average customer is only willing to wait 4-5 minutes in a line before shopping elsewhere. Luckily there are a handful of solutions to keep your lines reasonable and convert more shoppers into making purchases.

  • Block visibility of your checkout lines – You might put up low walls with impulse buys around at least a portion of your lines. This can hide a long line from sight and improve your POS marketing area.
  • Place registers in the back of the store – Shoppers don’t pay attention to checkout areas if they don’t walk near them. Plus, checkout in the back of the store makes it more inconvenient to leave if there is a long line. Many major clothing retailers, like H&M and GAP, use this technique. It simply converts more sales.
  • Add mobile POS tablets – Many retailers use a combination of desktop and mobile point of sale computers . Desktops are great for large checkout areas, but mPOS systems make retailers more versatile. It’s easy to open an extra lane during busy times quickly and allows associates to process sales on the floor if necessary.
  • Invest in a fast point of sale – The best way to improve your retail checkout speed is with a POS that is easy to use and processes sales quickly. You never want to waste time trying to troubleshoot a problem or wait for a credit card to process. Go with the fastest retail POS solution you can find.

3. Be Strategic with Your Retail Staffing

Using a one size fits all scheduling system is always a mistake . You’ve likely figured out your busy and slow times during the day, week, month, and year. So it’s important to consider this when making your schedule.

First and foremost, having the right amount of staff on the retail floor will mean a better customer experience. Some retailers define their brand by customer service and extensive staff knowledge of the product. If this is the case, each customer must be handled accordingly. Likewise, overstaffing makes for bored and frustrated employees and crowded floor space. Find the right balance for your SMB.

An added bonus to addressing this will be your labor costs. Keeping staff at a minimum during slower periods will save you a lot of money at the year’s end.

4. Use Your Employees to Increase Retail Conversion Rates

Consumers still prefer to speak with people face to face and have questions answered quickly. Take advantage of your great team around you! They are valuable resources and are the face of your store.

  • Start with a great training program . Ensure it is organized and thorough, leaving no room for underprepared staff on the retail floor. Encourage veteran staff to be involved in the training and create an atmosphere of the work ethic and knowledge you expect from every employee.
  • A great understanding of your products means a better customer experience . This translates to more conversions and better opportunities for cross-selling and up-selling.
  • Make sure everyone is engaging customers throughout their shopping experience. Greeting at the door or shortly inside the store if key. One staff member might be stationed near the door, folding clothes or organizing shelves that can double as a greeter.
  • Many shoppers are also apprehensive about conversing with an employee, even if they need help. This is especially the case at wine and liquor shops , where customers often feel they don’t have enough knowledge to have a conversation. Train your team to approach customers while they are browsing to offer assistance.
  • Creating a great culture in your small business is the most important step. Your staff will be more motivated to work hard and be sincere with guests.

5. Let People Try the Products to Convert More Sales

Another benefit of brick and mortar retailing is that you can easily allow customers to try your products. Whether you run a bakery , cosmetics store, or cheese shop, find opportunities to let people try what you sell. Spending a chunk of change on something you’re unsure about is never comforting. Many shoppers will delay or forget about a purchase if it’s questionable.

  • Keep product testers on your shelves.
  • Sample Day!
  • Bring in a vendor or distributor to talk about and promote a product.
  • Focus on new products or inventory that needs to move.
  • Offer other amenities.

These strategies are easy to implement, fun for customers, and keep peo ple in your store longer . It also lets your staff become more versed and comfortable selling your products. This will increase retail conversion immediately and down the road.

customers hold a piece of glass in a gift shop

6. Add Reviews or Ratings When Appropriate

Highlighting your reviews doesn’t just have to be something your eCommerce store does. Try it in some form or another at your brick and mortar shop. Showing reviews or ratings means that other people have purchased and enjoyed a product that a shopper is considering.

Many wine shops have brief descriptions and ratings for each of their wines. Amazon Go includes a review and overall rating for items in their brick and mortar stores, just like they have online.

Showing the total number of customers you’ve served numbers or highlighting how long your store has been in existence are also more subtle ways of using social proof to help convert sales . They instill a sense of trust in your products.

7. Increase Desire by Creating a Feeling of Scarcity

For some retailers, these types of psychological tricks fall under that moral gray area. You want people to want to buy your product, not manipulate them into doing so. Others embrace it.

After all, every single one of us has fallen for some retail psychological trick at some point. There are a few different ways of making this environment succeed in converting potential shoppers into spending customers.

  • Clear your shelves – This doesn’t mean leaving things empty; it’s important to be fully stocked. But don’t keep a glut of a single item packed onto a rack or shelf. It makes it seem that the product isn’t popular. Instead, keep things more sparse. For instance, a clothing retailer might keep one of each size and color on the rack and spares in the back.
  • Use Your Staff – You know the whole “Let me look in the back” schtick? They know it’s in the back. But when they come back and say, “It’s your lucky day! We have one left,” you are much more likely to make the purchase. There’s no one more convincing than a great salesperson. And if you are actually out of a product, have a plan of something else to suggest.
  • Short-lived sales – These can create a sense of urgency and give someone the extra push to purchase.

8. Offer Various Payment Options

Shoppers almost always choose convenience. For modern retailers, that means including a variety of payment options.

  • EMV chips – Every retailer MUST have a chip reader on their POS debit or credit card machine. The burden of responsibility is on the retailer, not their bank, for any swiped fraudulent transactions.
  • Buy online, pick-up in store – This is an especially popular option among holiday shoppers. It allows them to skip crowded malls and long lines, and be in and out quickly. While it’s good to have shoppers mill around your store, it’s also necessary to appeal to those who don’t have time to shop for extended periods of time.
  • Payment plans – For luxury items or higher-end goods, offering payment plans is important. For many consumers, it’s hard to put down several thousand dollars of cash for a plush new mattress, customer-made coffee table, or gold necklace. Make the purchase a bit more comfortable for your more expensive items.
  • Contactless payments – Tap-and-go payments with a credit or phone is becoming increasingly common. And it will only become more ubiquitous in years to come.

Don’t lose shoppers just because you have limited payment options. All your hard work has brought them to the final step of the process, so failing to convert is even more costly and painful.

Boost Your Sales with a Higher Rate of Conversion

Figuring out how to increase conversion rate in retail stores takes trial and error. Decide what tactics best suit your particular shop and continue fine-tuning.

Like most of our advice here, different solutions work for different retailers. And it’s by no means necessary to try all of these. But use this as a guide to try out one or two ideas. And for the tools that can help you measure your conversion rates, click below to find out how KORONA POS can help your retail business.

KORONA POS has exceeded my expectations in every way. It’s a powerful, adaptable solution that has transformed our operations for the better.

action plans to increase sales in retail

FAQs: Increase Retail Conversion Rates

Conversion rate is important in retail because it directly impacts the store’s profitability and revenue generation. A higher conversion rate means more visitors are completing purchases. It also indicates the effectiveness of marketing strategies, user experience, and merchandising, helping retailers optimize their business and drive growth.

A good conversion rate for brick and mortar retail is generally around 20% to 30%. This means that 20% to 30% of the total foot traffic in the store result in completed purchases, reflecting a healthy level of customer engagement and successful sales efforts. This number can vary significantly depending on store size and vertical.

Increase store conversion rates with strategic merchandising and neat store organization. In addition, properly training retail staff is essential to catering to guests and executing sales. Finally, investing in a smart point of sale that keeps lines moving and accepts all forms of payments is a must.

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Action Plan Template for Retail Sales

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  • Craft an effective approach for meeting sales objectives
  • Define key performance indicators and track progress towards them
  • Collaborate with team members and partners to optimize strategy execution

Benefits of a Retail Sales Action Plan Template

  • Easier to follow and maintain due to concise structure
  • Helps avoid bottlenecks and keeps you focused on your end goal
  • Helps plan ahead for opportunities and obstacles
  • Allows for flexibility in tailoring your strategy to fit the situation

Main Elements of a Action Plan Template for Retail Sales

  • Who you're targeting with your marketing efforts
  • Scheduling and organizing your work schedule
  • Developing your pricing strategy
  • Designing and printing collateral
  • Marketing your store

How to Use a Retail Sales Action Plan Template

1. establish goals., 2. analyze current performance., 3. identify target customers., 4. outline strategies and tactics., 5. create checkpoints along the way., related action plan templates.

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Sales & Marketing Management

Creating an Action Plan to Increase Sales

Creating an Action Plan to Increase Sales

Sticking to dated methods and old strategies can prevent a business from ever increasing their sales. Especially in the current state of the economy, reaching sales goals is a strenuous challenge. If your business is doing poorly, it’s time to start working on solutions to fixing performance levels. Here is how you can create an action plan to increase your sales.

Analyze Your Situation

Before you start implementing changes into your business practices, analyze your situation. Analyzing the state of your business will help you understand why struggles are occurring in the first place. Whether problems are arising because of poor planning, minimal employee performance, or other harmful reasons, identifying issues is important. Reflect on how your workplace is functioning, so you can come to conclusions for why you are having a decrease in sales. “Maintaining a business is a taxing role, and due to the many implications involved, it’s easy to experience failure. By identifying problems early on, it’s easier to start fixing issues before they get too severe,” shares Jay Bates, marketing blogger at Lucky Assignments and LastMinuteWriting .

Start Developing a Sales Strategy

If you are not reaching the desired amount of sales, you need to rethink the strategies you are using. You can begin correcting the flaws within your sales strategy after you analyze the entire situation. Here are some milestones that you can use to curate a more efficient sales approach.

Create Structured Goals

Although you may have goals, without structure, it’s difficult to obtain them. Creating structured goals will help you have a better chance at achieving success. Structured goals force us to think realistically about how and what things we can actually accomplish. You may want to jump from a sales goal that’s low to one that is extremely high. Over ambition backfires on many employees in the business and sales industry. The best way to reach greater goals is by making little ones along the way. Overtime, you can edit your sales goals after reaching past ones. SMART goals are perfect to start off with; SMART stands for specific, measurable, achievable, relevant and time-bound. Using this template will allow you to create structured goals that you will be capable of obtaining.

Update Your Sales Team

When making changes to your sales approach, continuously update your sales team. Depending on if you are manager, associate, partner, customer service member, or have another role in a business, always keep the integrity of the entire sales team in mind. All members of a business should be putting in immense effort to reach sales goals. Here are some ways you can improve your sales team.

  • Hire new employees
  • Offer raises for effort and success
  • Provide extra training
  • Ensure that your employees create their own goals

Client and Consumer Connection

One of the most essential parts about sales and marketing is the relationship between a brand and customer base. Lack of sales happens for a variety of reasons, but a poor connection with consumers will always be part of the entire issue. If your business is client based, focus on consistently giving quality service to those individuals. If your business is product based, use incentives, memberships, and mantras to reinforce the importance of your customers. Appeal to your consumer audience by treating them genuinely, and by providing services/items that are of use or interest. “Look at your reviews and see how people view your customer service. This can reveal the buffers that are preventing a brand from establishing genuine connections with their customer base,” claims Amy Burnett, business writer at Research papers UK .

Executing Your Plan

Sticking to your action plan is going to be tricky initially. Consistency is key to having your newly adapted sales approach pay off. Each month, reflect on how your sales plan is performing, and edit errors along the way. The truth is, marketing is an ever changing part of business. Certain approaches will be effective for longer periods of time than others. When you do reach your sales goals, don’t forget to analyze strategies on a regular basis. Executing your plan is a possibility that relies on awareness, teamwork, and reflection. Even if you have to create multiple action plans, this dedication to the growth of sales is a long-lasting benefit.

Jenny Williams

Business analyst and writer Jenny Williams works at Term paper writing service and Law assignments. Jenny also works for Gum Essays service.

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Rule the Market: 9 Retail Pricing Strategies 2024

action plans to increase sales in retail

Discover retail pricing strategies for 2024 to boost sales and profits. Learn value-based, competition-based, & psychological pricing with real-world examples.

action plans to increase sales in retail

Salesforce Staff

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Pricing is everything in retail. Understanding price elasticity, or how price changes affect demand, is so important for setting effective retail pricing strategies. Get it right, and you can drive sales, profit margin and customer loyalty; get it wrong, and you can quickly lose out to your competitors. Adopting a competitive pricing strategy, which involves setting prices based on market conditions to offer the lowest possible prices and monitoring competitors’ prices, can be effective but may also affect profits and customer perceptions. But with so many different pricing strategies to choose from, how do you know which one is right for your business?

Within this guide, we’ll explore 9 common pricing strategies that small businesses can use to succeed in 2024. From value-based and competition-based pricing to penetration and psychological pricing, we’ll cover it all. We’ll also provide real-world examples and expert insights to help you find the perfect pricing strategy for your target market and business goals. So, whether you’re just starting out or you’re looking to take your business to the next level, read on to learn how to rule the market with your pricing strategy.

9 Common Pricing Strategies for Small Businesses

Selecting the right pricing strategy is a game-changer within retail. To assist you in this decision, we present 9 effective discount pricing strategies that can propel your small business to success in 2024. From value-driven approaches to psychological tactics, we’ve got you covered.

Value-Based Pricing: This strategy revolves around setting prices based on the perceived value of your product or service to the customer. By understanding your target market’s preferences and willingness to pay, you can determine a price that aligns with their perceived benefits. For instance, if you offer a unique and high-quality product that solves a specific problem, you can command a premium price.

Competition-Based Pricing: Keeping an eye on your competitors’ pricing is essential. By setting your prices in line with or slightly below theirs, you can attract customers looking for a competitive deal. However, avoid engaging in wholesale price wars, as this can erode your profits. Instead, focus on differentiating your offerings through superior quality, customer service, or unique features.

Cost-Plus Pricing: This straightforward method involves adding a markup to the cost of producing your product or service to determine the selling price. While it ensures you cover your expenses and make a profit, cost-plus pricing may not always reflect the market value of your offerings. To strike a balance, consider market demand and customer willingness to pay before finalising your prices.

Penetration Pricing: If you’re looking to quickly capture market share, penetration pricing can be a powerful tool. By setting your prices significantly lower than the competition, you can entice customers to try your product or service. Once you’ve established a customer base, you can gradually increase your prices to more profitable levels.

Loss Leader Pricing: Loss leader pricing involves setting a low price on a popular item to attract customers, with the expectation that they will purchase additional items at regular prices. This strategy can drive traffic and increase overall sales.

Psychological Pricing: This strategy taps into the psychology of consumers to influence their perceptions of higher price or value. Techniques such as setting prices just below a round number (e.g., $9.99 instead of $10) or using odd-numbered prices can create the illusion of a better deal. Additionally, offering discounts, limited-time offers, or free shipping can further enhance the perceived value of your products or services.

Bundle Pricing: Bundle pricing, also known as multiple pricing, involves selling a group of products for a single price, such as a three-pack of socks or a five-pack of underwear. Retailers use bundle pricing to streamline marketing campaigns and attract customers. However, it can impact the sale of individual items and may lead to cognitive dissonance among consumers.

Keystone Pricing: Keystone pricing is a product pricing strategy in which the retail price is doubled based on the wholesale cost paid for a product. It is a simple approach to pricing, often used for products considered to be necessity items. However, it may not work for all items and could potentially lead to overpricing or underselling.

Price Skimming: Price skimming involves setting a high initial price for a new or innovative product and gradually lowering it over time. This strategy helps maximise profits from early adopters before targeting more price-sensitive customers.

How to choose a pricing strategy

Selecting the right Retail Pricing Strategy is necessary for the success of your business. Several factors come into play when determining the optimal pricing strategy. Here are key considerations to guide your decision-making process:

Understand Your Target Market:

Begin by thoroughly understanding your target market’s preferences, needs, and willingness to pay. Conduct market research to gain insights into their price sensitivity, purchasing behaviour, and the value they place on your products or services. Assessing price sensitivity, or how responsive consumers are to changes in price, can provide valuable insights into setting optimal prices. This knowledge empowers you to set prices that resonate with your customers and align with their perceived value.

Align with Business Goals:

Your pricing strategy should directly support your business goals. Whether you prioritise maximising profits, increasing market share, or enhancing customer loyalty, your pricing decisions should reflect these objectives. For instance, if customer acquisition is a primary goal, consider implementing a penetration pricing strategy to attract new customers.

Conduct a Cost Analysis:

Accurately calculate the costs associated with producing and delivering your products or services. This includes direct costs such as raw materials, labour, and shipping, as well as indirect costs like rent, utilities, and marketing expenses. A complete cost analysis ensures that your pricing covers all expenses and contributes to your business’s profitability.

Research Competitors’ Strategies:

Analyse the pricing strategies of your competitors to gain valuable insights into market trends and customer preferences. While it’s not advisable to base your pricing solely on competitors’ prices, understanding their approach can help you position your products or services effectively and identify opportunities for differentiation. Consider using the manufacturer-suggested retail price (MSRP) as a baseline for creating your pricing strategies and standardising prices across retailers.

Test Different Pricing Approaches:

Don’t hesitate to experiment with different pricing strategies to determine what works best for your business. Implement A/B testing or conduct market surveys to assess customer response to various price points. This data-driven approach allows you to make conscious decisions about your pricing strategy and optimise it for maximum success.

By considering these factors and adapting your pricing strategy accordingly, you can effectively position your business in the market, drive sales, and achieve your business goals. Remember, the right pricing strategy is one that strikes a balance between customer value, cost coverage, and business profitability.

Competitive pricing strategy examples

To gain a deeper understanding of these pricing strategies, let’s explore real-world examples of their implementation.

1. Cost-Plus Pricing:

  • Example: A boutique adds a 50% markup to its clothing items, which includes the cost of materials, labour, and overhead expenses.

2. Value-Based Pricing:

  • Example: An electronics store charges a premium price for a high-end smartphone due to its advanced features and brand recognition.

3. Competition-Based Pricing:

  • Example: A grocery store matches the prices of its competitors to remain competitive in the local market.

4. Penetration Pricing:

  • Example: A new coffee shop offers discounted prices for a limited time to attract customers and establish a loyal customer base.

5. Psychological Pricing:

  • Example: A clothing store prices its items at Retail Pricing Strategies just below a whole number (e.g., $9.99 instead of $10.00) to create the perception of a better deal. Additionally, displaying a discounted price alongside the original price can enhance this perception by highlighting the savings.

6. Dynamic Pricing:

  • Example: An airline adjusts ticket prices based on demand, time of booking, and competition to maximise revenue.

7. Premium Pricing:

  • Example: A luxury car brand sets high prices for its vehicles to reflect their superior quality and exclusivity, attracting affluent customers.

These examples demonstrate how businesses across various industries apply different Retail Pricing Strategies to achieve their specific goals. By carefully considering customer perceptions, market dynamics, and business objectives, retailers can leverage these strategies to optimise their pricing approach and drive business success.

Finding the best pricing strategy for you

So, you’ve familiarised yourself with the various retail and wholesale pricing strategies available. Now, it’s time to embark on a journey to discover the pricing strategy that resonates most effectively with your retail business. This involves a holistic approach that encompasses several crucial considerations.

First and foremost, it’s essential to gain a strong understanding of your target market and their willingness to pay. Conduct thorough market research to decipher their preferences, purchasing patterns, and the value they associate with your products or services. This knowledge acts as a fundamental principle for crafting a pricing strategy that aligns seamlessly with their expectations.

Next, take a deeper look into your business’s cost structure, meticulously evaluating all expenses incurred during production, distribution, and marketing. This analysis will provide a clear picture of your break-even point, ensuring that your pricing strategy safeguards profitability while remaining competitive.

It’s all-important to conduct a meticulous competitor analysis, examining the competitive pricing strategies employed by your industry peers. Identify their strengths and weaknesses, and leverage this knowledge to position your pricing effectively within the competitive landscape. Consider using price anchoring, where a higher-priced item is placed next to a lower-priced item to make the latter appear more attractive, to influence customer perception and drive sales.

Lastly, don’t shy away from experimentation. Test different pricing strategies on a small scale before committing to a long-term approach. This hands-on approach will provide valuable insights into customer response, allowing you to refine your pricing strategy until you discover the perfect formula for success.

Remember, the retail landscape is ever-changing, and customer preferences are constantly evolving. So it’s imperative to regularly review and adjust your pricing strategy based on market conditions and customer feedback. This proactive approach will ensure that your own discount pricing strategy always remains relevant, competitive, and aligned with your business goals, ultimately leading to sustained success in the ever-evolving retail industry.

Finding the best Retail Pricing Strategy for your business is a process of exploration, analysis, and adaptation. By meticulously considering your target market, costs, competition, and customer feedback, you can craft a dynamic pricing strategy that propels your retail business to new heights of profitability and customer satisfaction.

Pricing strategy FAQ

As you navigate the dynamic landscape of retail pricing, it’s natural to encounter questions that may influence your approach. Let’s address some frequently asked questions to clarify key aspects of pricing strategies:

How do I assess the effectiveness of my current pricing strategy?

Evaluating your current pricing strategy is necessary for identifying areas of improvement. Here are a few metrics to consider:

  • Sales Volume: Monitor changes in sales volume over time. A consistent increase or decrease can indicate the effectiveness or ineffectiveness of your pricing.
  • Customer Feedback: Gather input from customers through surveys, reviews, or direct conversations. Understand their perceptions of your pricing compared to competitors and the value they associate with your products.
  • Profit Margins: Analyse your profit margins to determine the profitability of your pricing strategy. Ensure that your prices cover production costs and allow for sustainable growth.

How can I implement pricing changes without losing customers?

Implementing pricing changes requires a delicate balance to minimise customer churn. Here are some strategies to consider:

  • Communicate Clearly: Openly communicate the reasons behind the price change to your customers. Explain the value they will continue to receive or any improvements being made.
  • Offer Incentives: Provide incentives such as discounts, loyalty programs, or added value to offset the price increase and retain customer loyalty.
  • Implement Gradually: Consider implementing price changes gradually over a period of time, allowing customers to adjust and understand the new pricing structure.

What are some common pricing pitfalls to avoid?

Avoid these common pricing pitfalls to maintain a competitive retail price edge:

  • Price Wars: Engaging in aggressive price wars can lead to a race to the bottom, eroding profits and diminishing brand value.
  • Ignoring Customer Value: Focusing solely on cost-based pricing without considering customer-perceived value can lead to missed opportunities for higher profits.
  • Ignoring Competition: Setting prices without considering competitor pricing can result in being overpriced or underpriced, impacting sales and market share.

How can I test different pricing approaches?

Testing different premium pricing approaches allows you to gauge customer response and optimise your strategy. Here are a few methods to consider:

  • A/B Testing: Conduct A/B tests by offering different prices to different customer segments or on different platforms. Analyse the results to determine the most effective pricing approach.
  • Surveys and Feedback: Collect customer feedback through surveys or focus groups to understand their willingness to pay and preferences for different pricing options.
  • Experimental Pricing: Implement temporary price changes for a limited period to gather data and insights into customer behaviour and demand.

What is price discrimination and how can it be used effectively?

Price discrimination involves charging different prices to different customer segments based on their willingness to pay. This strategy can maximise revenue by capturing consumer surplus, but it must be implemented carefully to avoid customer dissatisfaction.

By addressing these frequently asked questions and implementing the recommended strategies, you can fine-tune your retail pricing strategies for success in 2024. Embrace the power of effective pricing to drive sales, enhance customer loyalty, and optimise your business performance.

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How to Increase Your Average Transaction Value in Retail Sales

Zac Francis

In recent years, you may have heard that brick-and-mortar stores are a thing of the past, with online shopping taking its place as the king of consumerism. And while e-commerce sales continue to rise rapidly, the death of in-store shopping has been greatly exaggerated.

In fact, 64% of UK consumers prefer shopping on high streets, and retail sales in the US were valued at $1.47 trillion, compared to $206.6 billion for e-commerce. 

This can be partly attributed to the fact that the average consumer spends significantly more in store than online.  

Now is not the time to put all of your eggs in the online basket. Retail remains incredibly valuable, and retailers should look to optimize their stores by increasing their Average Transaction Value. 

Keep reading to find out exactly what an Average Transaction Value (ATV) is, how to calculate it, and proven strategies that help increase your ATV. 

Serious staff woman wrting on notepad at supermarket

What is Average Transaction Value?

Average Transaction Value is the average amount a customer spends on a single purchase. 

Calculating ATV is really simple. You calculate your total revenue for a given period and divide it by the total number of transactions during the same period. 

Why does this matter in retail? Analyzing your Average Transaction Value helps you better understand how your customers interact with your product. Which products sell well? Which items are typically bought together? Are your in-store displays having the desired impact? Your ATV can shed some light on these important questions and provide even more data to help you optimize your store.

Navigating Business Challenges in Retail and Hospitality: Insights and Strategies for 2024

How to Increase your Store's Average Transaction Value

1. encourage upselling and cross-selling.

An increase in your Average Transaction Value is a natural result of successful upselling and cross-selling—two tried-and-tested techniques that persuade your consumers to purchase upgrades and add-ons. In fact, upselling increases revenue by 10-30% on averag e , making it a strategy retailers can’t ignore.

Provide your workforce with upselling and cross-selling training and techniques that empower them to drive your sales profits. Focusing on understanding each consumer will help your staff better understand which upgrades and add-ons to recommend. 

Supplement your well-trained workforce by displaying complimentary items throughout the store. Grouping related items in close proximity increases the chances of customers bundling items together, such as putting phone cases next to phone chargers. 

2. Set Goals

In retail, your Average Transaction Value is almost entirely dependent on the skill and motivation of your staff. If you want your ATV to increase, setting goals and fostering motivation among your workforce is a great way to achieve this. 

Try setting a target for your staff to reach so they know what they’re working towards. If your goals aren’t clear from the start, you’ll have a hard time reaching them. These can take the form of individual goals, team goals, weekly goals—you get the idea. Find what works for your workforce and implement it accordingly. 

Additionally, consider gamifying your goals and creating a little friendly competition among staff. The desire to finish first will help push staff even further. This could be something as simple as adding a leaderboard displaying the number of sales each team member has made.

Supplement this intrinsic motivation with some extrinsic motivation in the form of incentives . This could be shift preferences for staff who upsell the most, or maybe a financial incentive if this is possible within your business model. Incentives remain incredibly popular with the global workforce, with 88% of employees stating it’s important that employers reward their staff for great work. 

3. Leverage Promotions

Promotions are an effective way to motivate consumers to purchase items. When used correctly, they dissolve the hurdle that may prevent a customer from purchasing the item they desire. For example, 89% of customers listed price as the primary factor influencing their purchasing decision. To overcome this, retailers often deploy a buy-one-get-one-free offer or a limited-time price drop. 

If you’re a retailer looking to thrive in the industry, chances are you already utilize promotions. However, are you optimizing them? 

Make sure your customers are aware of the promotions you’re offering. This can be achieved by encouraging staff to mention them when communicating with a customer. Even if the customer is enquiring about a completely different product, your workforce can find a way to highlight the deal while maintaining the natural flow of the conversation. This strategy should work in tandem with visual aids signposted throughout the store which advertise the promotions available. 

You can also create urgency to buy by placing a time limit on offers. Knowing a deal won’t last forever could influence the consumer into buying the item for fear that such a bargain might never happen again.  

Product bundling is another proven strategy to get consumers to buy more. Packaging complimentary products together could convince your customer to leave with multiple products instead of just one. Again, make sure that your staff are aware of these promotions and know how to communicate them with customers by providing ongoing training on the latest offers and bundles.

4. Create and Optimize a Loyalty Program

Loyalty programs are typically customer retention strategies. However, they also increase revenue due to existing customers spending more than new customers on each transaction. It’s therefore imperative that you have a well-structured and appealing loyalty program in place to keep your customers engaged and avoid losing them to competitors. And chances are your customers want you to have one— 87% of consumers reported that they want their brands to have loyalty programs.

As a retailer, you need to either create or optimize your loyalty program. It’s all about making your customers feel valued while rewarding positive behavior, so do your best to offer discounts, promotions, and savings to those who earn them. For example, you could employ a points reward system where customers earn points for every dollar they spend. Collect enough points and they earn a discount. 

Inform your staff of the details of your program so they can then tell customers and raise awareness. 

Unsure of where to start? Find inspiration from other retailers with successful programs, such Macy’s and Target. These two retail giants employ very different yet equally effective loyalty schemes that help them retain customers and drive their ATV. Macy’s implements a four-level star reward system, whereas Target offers a REDcard that saves customers 5% on every item they purchase.

5. Offer Items at Checkout

How often have you placed all of your shopping at the checkout, only to be enticed by a promotional offer placed directly in front of you as the cashier scans your items? 

These impulse purchases are incredibly common, with one study revealing that impulse buying accounts for between 40% to 80% of purchases . 

If that number seems high, it’s because there’s a psychological process running in the background. Simply put, our long-term memory works in tandem with visual stimuli, creating emotions that drive us to buy.  

Point-of-purchase displays are incredibly effective at mustering impulse buys, as your consumer has plenty of time to view the item and develop an emotional response as they stand in line. For retailers who utilize online shopping, include options to add on when the customer is checking out. 

6. Train Your Staff

All of the previous mentioned points are only possible when your workforce is effectively trained. However, the retail industry has historically struggled with providing effective employee training—in fact, 31% of frontline retail employees receive no formal training whatsoever. 

This statistic proves even more alarming when you consider that businesses that invest in training are 57% more effective than their competitors. On an individual level, sales training can boost performance by up to 20% . 

With these benefits in mind, it’s important to know how to train your retail staff effectively. 

Products and offers are constantly changing in retail, so ensure your staff remains up to date with ongoing training. Often retailers stop training their employees after the onboarding stage, failing to account for the changing inventory and consumer demographic. With continuous learning initiatives, you can ensure that your workforce remains informed and productive.

Make training relevant to the job. You can do this with role-play exercises that mimic real-life situations your staff will experience. Rehearsing problematic conversations for staff to overcome will better prepare them for the hurdles they face when upselling to customers. 

Finally, ensure the information on products and services is easy to access. Retail staff are constantly on the move and need to be able to access information right at the point of need, e.g., when responding to a customer’s query about the latest product launch. Mobile learning is an effective way to solve these issues, as it provides staff with the information they need in just one tap and doesn’t require them to remove themselves from the shop floor to find the answers. 

eduMe is a seamless mobile learning platform designed for the deskless workforce, providing role-relevant information to your staff when they need it most. Through the use of continuous learning and gamification, eduMe provides your staff with the tools needed to drive sales and increase your ATV. 

Get in touch with us now to see how we can increase your ATV 👇

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Nike's trying to pivot. It's not working just yet.

  • Nike's been having a tough time, with shares down more than 30% this year and sales set to fall.
  • The sportswear brand has started implementing a turnaround plan, but the results are yet to be seen.
  • Nike's reliance on its lifestyle business seems to be hurting it, one analyst said.

Insider Today

Nike 's lost its stride — and is finding it hard to get its pace back up.

In December, the company announced a cost-cutting initiative that included simplifying its assortment of products and cutting jobs.

The aim was to deliver up to $2 billion in savings over the next three years, which "will be invested to fuel future growth, accelerate innovation at speed and scale, and drive greater long-term profitability."

Two quarters on, Nike still appears to be looking for ways to turn its business around.

The latest effort is rehiring Tom Peddie, an executive with 30 years of experience at Nike who came back out of retirement, Bloomberg reported on Monday.

Peddie will serve as vice president of marketplace partners, which involves managing Nike's relationships with retailers like Foot Locker. Nike spent years trying to sell less at third-party retailers and more through its own website and stores, which hasn't been going well recently.

More recently, though, Nike has changed course and tried to mend fences with those retailers.

The new old hire comes hot on the heels of an earnings report that laid bare some of Nike's biggest challenges.

In late June, Nike delivered a lackluster set of Q4 results and said it expects sales for its 2025 fiscal year to fall by mid-single digits, including a 10% drop in the first quarter alone. That shocked investors, especially as analysts had expected a 1% increase this year, according to Reuters.

None of it impressed investors much. Nike's shares closed down 20% that day; the company has dropped more than 30% since the start of the year.

Some major reasons included a tougher sales environment in China, ongoing challenges with its digital platform, and what Nike CFO Matthew Friend described as "muted" forward wholesale orders with "newness not yet at scale."

It doesn't look like it's going to get better very quickly, either, with Friend saying on the earnings call that the "next few quarters will be challenging."

Meantime, CEO John Donahue said that 2025 "will be a transition year for our business."

Related stories

After the report, Nike cofounder and former CEO Phil Knight expressed "unwavering support" for Donahue in a statement.

Nike needs more key sports products

So, how can the biggest name in sneakers get its stride back?

One answer rests in what the company calls its "lifestyle" business — basically, shoes and clothing meant for casual wear. Nike's "performance" segment, meanwhile, includes many of its core sports products, such as basketball shoes.

While revenue from performance products grew in Q4, declines in its lifestyle business overshadowed them, contributing to the worse-than-expected results.

In its last fiscal year, lifestyle products have grown to about 60% of Nike's business, UBS analyst Jay Sole estimates.

Dividing sales more evenly between performance and lifestyle products would help Nike "restore its image as a sports brand and make its top-line growth rate more sustainable for the long term," he wrote in a note.

"One of our big takeaways from Nike's 4Q report is its lifestyle business needs a major reset," Sole said.

The company has also lost ground to rivals when it comes to connecting directly with customers.

Members of run clubs in Portland, near Nike's headquarters, say that they have been visited by representatives from smaller brands like Hoka and New Balance — but no one from Nike, The Wall Street Journal reported in June.

CEO Donahue noted that road running "remains a competitive battlefield that we are playing to win" on the call.

Another issue is Nike's pipeline of new products.

Nike has been cutting back on some popular shoe lines to get people hyped about new ones. On the latest earnings call, Donahue pointed to areas where Nike has introduced new products, from fitness leggings aimed at female consumers to shoes specifically for road runners.

That could help drive performance sales — especially those through Nike's digital business, a major pain point at the moment for the company. It could also help the re-instated Peddie rebuild relationships with and sales through retail partners.

But Donahue also referenced products that were still in development or months away from release. He teased new versions of Nike's Pegasus and Vomero running shoes, for instance, that aren't scheduled to hit shelves until the second half of fiscal 2025 while referencing a "strong wholesale order book" for coming seasons.

"Talking about newness not in stores doesn't work anymore," Jefferies analyst Randal Konik wrote.

While CFO Friend said management is "confident that we are repositioning Nike to be more competitive," investors have yet to be convinced.

"This is still [Nike] and the right strategy could turn the business," BMO analyst Simeon Siegel wrote in a note after June's earnings report. "But we're not convinced that strategy is presently in place."

action plans to increase sales in retail

  • Main content

Politics latest: Voters ousted Conservative Party over 'incompetence', survey finds

A massive survey has revealed why voters decided to turn away from the Conservatives at the election. Foreign Secretary David Lammy has held talks with the president of Israel. Meanwhile, Sir Keir Starmer has announced he wants to break down the barriers of opportunity in football.

Monday 15 July 2024 19:22, UK

  • General Election 2024

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  • A survey has found voters were unhappy at Conservative 'incompetence' 
  • David Lammy has called for an immediate ceasefire in Gaza.
  • Government announces plan to break down 'barriers of opportunity' in football after Euros campaigns
  • Labour will be "far more Gareth Southgate and far less Michael Gove"
  • Poison spreading into politics on both sides of the Atlantic - minister
  • Labour plans for 35 new bills in King's Speech
  • PJAS: Keir's coming home
  • Jon Craig:  Assassination attempt on Trump is a wake-up call for UK MPs
  • Live reporting by Tim Baker   and Jennifer Scott

Lord Walney has written to the home secretary calling for an inquiry into the intimidation of MPs after what Sophy Ridge calls one of the "ugliest" election campaigns we have seen in the UK - and, of course, after an assassination attempt on former US president Donald Trump.

The peer tells Sophy the incident this weekend was "a shocking reminder of the vulnerability that everyone who puts themselves in the front line to serve ultimately faces".

He says politicians are "blessed in to be here in the UK where there is not the same gun culture" as across the Atlantic.

But he says the fact the shooter came within "less than an inch" of killing Mr Trump showed all politicians face "some level of threat". 

Lord Walney adds: "There is no way of reducing that to zero. MPs who go put themselves forward to serve their communities, none of them will accept being sealed away behind bulletproof glass. They they are there to be part of their communities to listen."

He praises Home Secretary Yvette Cooper, who has announced she is chairing a taskforce to look into the "alarming" intimidation of candidates.

But he said there should be "a much needed review of security around Whitehall", and different elements, including police and government, need to work together to address the issue. 

It's time for the Politics Hub with Sophy Ridge, and tonight the guests include the SNP's Stephen Gethings and Lord Walney, the government's adviser on political violence.

Our panel is made up of returning Labour MP Dawn Butler and former chief of staff to Priti Patel, James Starkie. 

Make sure you tune in on the video stream above, and we will bring you updates too. 

Yvette Cooper has announced she will chair a meeting of the government's "Defending Democracy" taskforce next week.

The home secretary this was following an “alarming rise” in harassment towards political candidates and campaigners.

In a statement this afternoon, Cooper said she would be speaking to MPs about their experience of the election campaign.

"Political violence, intimidation and harassment have no place in our democracy," she said.

"In our democracy we must be able to passionately debate and disagree on issues without ever resorting to intimidating tactics designed to silence voices, suppress votes or prevent free and full participation in our democratic processes.

 Cooper added: “The disgraceful scenes we saw in some areas during this election campaign must not be repeated."

By  Tomos Evans , Wales reporter

The Welsh first minister's former leadership rival has refused to say he has confidence in his leader.

Wales's economy secretary Jeremy Miles failed to back Vaughan Gething four times.

In an interview with ITV Wales on Monday, Mr Miles said it wasn't "helpful to give a running commentary".

But Mr Miles, who lost out to Mr Gething in March, acknowledged it had been "a difficult few weeks".

Last week, former government minister Hannah Blythyn, who was sacked by the first minister for allegedly leaking to the media, spoke out.

She denied having leaked a series of iMessages, in which Mr Gething appeared to say he would be "deleting" messages which could be "captured in an FOI".

News website Nation.Cymru, which first broke the story, last week confirmed Ms Blythyn was not its source for the story.

A motion has been tabled in the Senedd for Wednesday, calling on the government to publish the evidence upon which Ms Blythyn was sacked.

The Office for National Statistics (ONS) has released its latest migration stats for the year to mid-2023.

 It has found that, for England and Wales, the population grew by the greatest amount since 1948 - when soldiers were returning from the Second World War and birth rates were very high.

The net increase of people in the two nations was 610,000, to a total of 60.9 million.

This was mostly down to 1,084,000 people immigrating into England and Wales from outside the UK - while 462,000 left.

In terms of births and deaths, only 400 more people were born in the UK than died in the 12-month period - the lowest figure since 1978.

Some 598,000 people died in the year to mid-2023, while 598,400 were born.

Deaths were up 24,000 compared to the previous 12 months, while births were down 21,900.

 Head of population estimates for the ONS, Neil Park, said: "High levels of international migration seen in recent years are the main driver of population growth.

"But the year to mid-2023 also saw an increased number of deaths, as well as the lowest number of births since 2002.

"In fact, in the most recent year, births outnumbered deaths by just 400, the lowest reported figure for natural change since the late 1970s. And, interestingly, there were more deaths than births in every region, with the exception of London and the West Midlands."

By Faye Brown , political reporter

Rishi Sunak has been urged to stay on as Conservative leader until November amid divisions within the party over how long the contest to replace him should take.

Shadow foreign secretary Andrew Mitchell said the former prime minister's instinct "is almost certainly to go" but more time was needed for potential successors to make their case.

The view is at odds with other senior figures who fear a protracted contest would leave a vacuum for Labour and Reform UK to capitalise on.

Mr Mitchell told Times Radio on Monday: "An interim leader is not, in my view, the best option.

"The best option is to seek to persuade Rishi to remain. It's not an enormously long time in the scope of things. It's probably 'til mid to end November."

He added: "I think his instinct is almost certainly to go. I hope that he won't."

Read the full story here:

Here's a little bit more from the massive More in Common analysis that came out earlier today.

The work relied on surveys and interviews with more than 10,000 people.

The group found that - by a huge margin - voters of every persuasion attributed the Conservative Party's loss to incompetence, rather than being too right wing or left.

The report said that Mr Sunak's U-turn on net zero went down badly - as did axing the northern leg of HS2.

This compounded with the former PM failing to stop the boats or cut NHS waiting lists, as he pledged to do.

By Tomos Evans , Wales reporter

Drink refills could be banned in Wales, under plans currently the subject of a consultation.

The regulations, if approved, would prohibit retailers from offering free refills or top-ups of sugary drinks.

Multi-buy offers, such as buy-one-get-one-free, will also be prohibited under the proposals.

But there will be a 12-month window for the packaging of products to be updated, before the restrictions come into force next year.

The Welsh government says it wants to help people in Wales "make the healthy choice" when shopping and dining out.

If businesses do not comply, they would face an improvement notice and failure to act could lead to a criminal penalty under the Food Safety Act.

Enforcement would be down to local councils, the Welsh government confirmed.

Sky News' deputy political editor Sam Coates and Politico's Jack Blanchard are here with their guide to the day ahead in politics. 

On day 10 of the new Labour government, Jack and Sam cover the fallout from the attempted assassination of Donald Trump, preparations for the King's Speech, and if one Tory beast has ambitions to be interim leader.

Email Jack and Sam: [email protected]

👉 Tap here to follow Politics at Jack and Sam's wherever you get your podcasts 👈

This morning's More in Common report - which we reported on earlier - looked into the attitudes of voters and why they switched.

One area they examined was who went to Reform UK - and the implications of the switching.

According to the research, less than a third (31%) of people who voted Reform said they would have chosen the Tories otherwise.

Some 33% of people said they would not have voted for another party, while the rest said they would have picked Labour (12%), Lib Dem (9%), Green (6%), another party (9%), and then the don't knows were on 6%.

The research also found that Conservatives who left to vote Reform are the most likely to never want to vote Tory again.

The report said: "If the Conservative Party is to recover, it will have to start with restoring its reputation for economic competence and selecting a leader who can bring back voters who deserted the party to the left and the right.

"Rather than either or, voters who would back the Conservatives suggest a preference for a leader who can merge the appeal of both David Cameron and Boris Johnson."

The report suggested that if Reform had not stood, the Tories would only have won an extra 40 seats - leaving Labour still with a majority of more than 100.

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action plans to increase sales in retail

IMAGES

  1. Simple Strategic Sales Action Plan Template

    action plans to increase sales in retail

  2. Top 10 Sales Action Plan Templates with Samples and Examples

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  3. Plano de ação de vendas vibrante

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  4. Retail In Store Sales Action Plan

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  5. 32 Sales Plan & Sales Strategy Templates [Word & Excel]

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  6. Sales Action Plan Template

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COMMENTS

  1. How to Increase Retail Sales: 18 Tips & Strategies

    10. Deploy a Customer Loyalty Program. Another strategy for increasing your retail sales is to increase your customer retention by creating a customer loyalty program. The goal of a loyalty program is to create loyal, repeat customers by rewarding their patronage of your store with points, discounts, or other perks.

  2. 25 Effective Ways of Increasing Sales in Retail

    4. Launch Attention-Grabbing Promotions. The best in-store promotions are time-sensitive and align with point-of-sale marketing. Some examples of how to improve sales in retail with promotions include: In-store promotions: Increase foot traffic and sales by offering exclusive discounts on minimum purchase amounts, in-store activations, and ...

  3. 11 Retail Sales Goals Examples & How to Achieve Them (2024)

    These sales goals examples are easier to reach, which will keep you and your staff motivated throughout the year. An example of a quarterly sales goal could be to make $100,000 in sales revenue during Q2. A monthly sales goal could be to increase monthly sales revenue by 10% month over month during Q3 and Q4.

  4. How to Increase Retail Sales: 11 Tips

    And you can catch dormant customers with a promotion designed to get them back in store, giving you a chance for sales that you would have otherwise lost. 6. Offer free shipping… to your store. Customers love free shipping. Any retail sales strategy aiming to increase spending should keep that in mind.

  5. 13 Retail Sales Tips to Improve Your Sales Success Rate (2024)

    Perfect your sales pitch. Be an active listener. Upsell higher-quality products. Cross-sell complementary products. Track and improve sales performance. 1. Sell solutions to pain points. Rather than focusing on the price of a product, explain how it can benefit the customer and add value to their lives.

  6. 14 Simple But Effective Techniques To Increase Sales

    10. Leverage Video Reviews. Using sales apps is good. To make it more favorable for clients to stay with you, entice them with existing/old customer reviews. Video reviews create a much better ...

  7. 22 Best Sales Strategies, Plans, & Initiatives for Success [Templates]

    1. Increase online sales through social media. Social media is one of the most popular ways that people consume information these days. That's why more than nine out of ten retail businesses are active on at least two social platforms. With a bit of creative thinking and strategic planning, you can use social media to substantially increase online sales.

  8. How to Increase Sales in Retail: 25 Tips to Boost Your Business

    Sell your products in-store and online to increase your reach and sales opportunities. 22. Augmented Reality (AR) Use AR to let customers try products virtually before buying, enhancing the shopping experience. 23. Big Data and AI. Use data analysis and AI to personalize the shopping experience and suggest products.

  9. 11 Tips to Help You Meet (and Beat) Your Retail Sales Targets

    4. Talk up your goals throughout the day. Talk up those sales targets. This isn't just about mentioning it at the start of the day and then asking about sales when you're about to close. You need to talk about sales goals and performance throughout the day to keep those targets top of mind.

  10. Learn How to Increase Retail Sales With These 8 Pro Tips

    1. Build rapport with every person who walks in your door. This list of retail sales ideas begins with one of the most important: building rapport to create a world-class shopping experience for every customer. Today, exceptional shopping experiences begin with exceptional employee skills.

  11. Top 10 Sales Action Plan Templates with Samples and Examples

    Template 1: Sales Action Plan PowerPoint Presentation. Boost your top-line revenue growth and increase profitability with this Sales Action Plan Template, which is packed with content related to components, steps, and types of sales strategies. It will educate you on the benefits of sales strategies and the costs involved in the implementation.

  12. How to Increase Retail Sales

    1. Focus on the customer experience. Your employees are your store's front line. They're the ones interacting with customers, creating positive connections and actually selling your products, so it makes sense to invest in them. To get your staff to effectively drive in-store sales, it's important to:

  13. 10 Ways to Increase Sales in Retail Stores

    Read on to discover ten steps towards an action plan to increase sales in retail. Ideas to Increase Sales in Retail Stores Create a Buzz. Whenever anything exciting happens in your business, highlight the milestone or event on your social media pages, and send a press release to local media. For example, if you decide to launch a mid-season ...

  14. How To Increase Sales In Retail

    11. Ask for feedback. A surefire way to increase sales as you plan for the future is to ask for feedback. You could use a physical comment card or send out a survey via email to collect thoughts and opinions on anything from store design to product selection to customer experience.

  15. 8 tips to increase sales in retail

    Here are our top 8 tips to increase sales in retail. 1. Maximise the potential of your data. As Peter Drucker, "You can't manage what you don't measure.". As a retail business owner, it is vital that you measure the effectiveness of your sales and marketing tactics. Here are a few simple metrics that are available via our intuitive real ...

  16. 4-Step Action Plan to Achieve Sales Targets

    Step 1- Analyze the Past. Analyzing trends in your results up to this point in the year allows you to pinpoint challenge areas and determine the next steps for improvement. (It also reveals what is working well.) Ideally, your team is regularly conducting post-sale analyses and documenting the findings. This sales action plan process is often ...

  17. 10 Ways To Maximize Sales In Retail

    Upselling. Upselling — offering a pricier version of the original item a shopper is looking to purchase — is a tricky art. But done right, it's one of the most effective ways to maximize retail sales. To do this effectively, you have to make sure the customer sees the value or benefit of the purchase.

  18. Action Plan Template for Retail

    A retail action plan template can help you streamline your customer service process. This document can: Align your customer service goals with your company's overall marketing strategy. Keep track of customer interactions and responses. Help you develop and implement a customer service plan. Coordinate with other departments within your company ...

  19. Increase Retail Conversion Rates: 8 Strategies for Retail Stores

    That's why it's so important to focus on how to increase conversion rate in retail. From adjusting small details like shelving and store organization to improving customer experience, you can convert more sales for your store. 1. Pay Attention to Shelving and Retail Store Organization.

  20. Action Plan Template for Retail Sales

    How to Use a Retail Sales Action Plan Template. Creating a retail sales action plan is an important part of increasing sales and profits in any retail business. By following the steps outlined below, you can develop a plan that will help maximize your revenues and set yourself up for success. 1. Establish goals. Before you can create an ...

  21. Creating an Action Plan to Increase Sales

    Here is how you can create an action plan to increase your sales. Analyze Your Situation. Before you start implementing changes into your business practices, analyze your situation. Analyzing the state of your business will help you understand why struggles are occurring in the first place. Whether problems are arising because of poor planning ...

  22. 9 Retail Pricing Strategies for 2024

    This strategy can drive traffic and increase overall sales. Psychological Pricing: This strategy taps into the psychology of consumers to influence their perceptions of higher price or value. Techniques such as setting prices just below a round number (e.g., $9.99 instead of $10) or using odd-numbered prices can create the illusion of a better ...

  23. How to Increase Your Average Transaction Value in Retail Sales

    1. Encourage Upselling and Cross-selling. An increase in your Average Transaction Value is a natural result of successful upselling and cross-selling—two tried-and-tested techniques that persuade your consumers to purchase upgrades and add-ons. In fact, upselling increases revenue by 10-30% on averag e, making it a strategy retailers can't ...

  24. Nike's trying to pivot. It's not working just yet

    Nike's been having a tough time, with shares down more than 30% this year and sales set to fall. The sportswear brand has started implementing a turnaround plan, but the results are yet to be seen.

  25. Politics latest: Major prisons announcement expected; PM defends Biden

    The new government is set to expand the early release scheme to ease pressure on prisons amid a lack of spaces. Sir Keir Starmer has said the US president 'deserves credit' for a 'successful' NATO ...