Most of the trade-related businesses are seasonal. Depending on the type of goods sold, the seasons fall on different months and seasons. At the same time, one can observe that in some stores there is always a buyer, while rare guests come to others. If you are concerned with the problem of how to increase revenue in the store, then you are on the right track, since any business requires rational management.
Instructions
Step 1
In store management (other than hypermarkets), it is practically difficult to influence customer behavior by forcing them to buy more products. It is also quite difficult to save on the material support of business processes, since they are usually already optimized. Therefore, the only opportunity for management to raise profits is to increase revenue in the store by other methods.
Step 2
For a retail outlet, this task is solved by carrying out the following activities:
• Product offer management;
• Promotion management;
• Sales price management.
To increase revenue in the store, targeted work should be carried out for each of the listed activities. It makes sense to expand the range and improve the quality of the goods sold. Expansion can occur not by increasing the number of goods displacing each other on the shelves, but by adding non-core products to the assortment being sold. So, you can often see that household chemicals and household goods are sold in grocery stores.
Step 3
Price management includes opportunities for holding special promotions, discount offers, and credit services for purchases. Store promotion is managed through advertising, branding and promotions. When used skillfully, word of mouth can also attract additional customers and increase store revenue.
