Despite the rapid growth of online shopping, brick-and-mortar stores are far from dead. In fact, their future is optimistic.
In 2017, 91% of all retail sales occurred not online, but in a physical store. Not only are there are more sales, but the orders are also larger — 40% of customers spend more money than they originally plan a brick-and-mortar shop than they do online. This means that physical retail offers its own set of advantages over online shopping.
While retail may not be dead, it is changing. According to The Retail Doctor, customers are increasingly looking for a branded shopping experience that they can’t find online. Brick-and-mortar stores have more control over their customers’ experiences. A store remodel can go a long way in building your brand, boosting sales, and bringing in ROI.
Tips for Remodeling Your Store
When giving your store an overhaul, focus on your layout, floor plan, and visual merchandising. These components can have psychological effects on your shoppers. The most important thing is to tell a story in your store and utilize all building features to influence shopping behavior. Ready to delight your customers? Read our tips to build a profitable remodel.
Staying Open During Remodeling
In addition to maintaining your revenue, keeping your doors open will allow your customers to witness the changes and be excited about the remodel. Follow these tips to ensure a smooth remodeling process while maintaining your business hours.
- Communicate with your customers and employees. Let them know you are planning a remodel and what they can expect. This will give everyone time to prepare.
- Break into stages. Stages prevent your entire store from going out of commission. Spend time on essential areas and push out the less crucial ones.
- Time and plan the construction. Try to schedule the remodel during slower times of the year. Work with your contractor to specify and set entrance areas for personnel.
- Contain the construction. Make sure you set clear barriers and zones to prevent safety hazards and distractions for your customers and your employees.
- Remodel after hours. This will incur more costs but will provide the least interference.
- Offer customers courtesy discounts. Give your customers a reason to visit and help maintain them with small discounts or gifts
As the future of brick-and-mortar stores continues to change, it’s important to keep your strategy top of mind. To ensure a smooth remodel, be sure you set your priorities, create a timeline, and hire a commercial contractor with the right resources and equipment.
A good example of store remodeling in 2018 was Target — the retail chain began remodeling 1,000 of its stores nationwide, including brighter lighting and modern displays and signage. According to a study conducted by FieldAgent, 56% of shoppers said they would shop at Target following the changes.
Creating a store experience that offers the advantages of brick-and-mortar retail while setting apart your brand will keep your retail store competitive in the age of online shopping.