How can a retailer ensure its store revamp turns a profit?
As in-store sales show signs of weakening, marketers are increasingly looking for ways to drive footfall by enhancing the overall shopping experience.
For some, investing in a store revamp is the answer.
Topps Tiles took this approach and credits its strong trading results in the last financial year to revamped store formats in 2015.
According to Vince Kerrigan, strategic solutions manager at brand marketing agency Vital Communications, turning a profit from such initiatives can be a challenge and marketers should follow some best practice principles.
“Any store rebrand initiative should have measurable goals based on footfall, sales and customer feedback,” he says.
Research has shown that shoppers increasingly regard stores as showrooms – places where they can see and feel products and learn more about them. And as we know. while out shopping, many use mobile devices to price check or look up product information.
“The store revamp is an opportunity to make it easier for customers to navigate stores and to embrace the way they like to shop,” Kerrigan continues.
“Stores can achieve this in a variety of ways, whether by providing free wi-fi, designated browsing areas or in-store tablets.”
Delivering a successful new store design also requires precise planning and co-ordination.
“Driving in-store sales in a multichannel retail environment requires an aligned approach,” says Kerrigan.
“Refreshing stores can help to ensure the appeal of the brand on and offline.”