Visual Merchandising Displays: Big Bang Little Bucks Webinar
September 21st, 2017 1 pm – 2 pm
Join Heritage Ohio for a webinar with design consultant Susan Shaddox from Main Street Arkansas! We will be discussing how businesses can make the biggest impact with their visual merchandising, even on a smaller budget.
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Susan Shaddox, Main Street Arkansas Interior Design Consultant
Susan Shaddox has worked as an interior design consultant with Main Street Arkansas since 2006. Prior to her position with Main Street Arkansas, Susan worked as an interior designer for Embassy Suites, Baptist Health Systems, and Dillard’s Department Stores.
Aside from her state position, she conducts Window Displays, Visual Merchandising, and Space Planning workshops all over the US for other Main Street communities. She has also been a speaker at several National and Regional Main Street Conferences, presenting her design workshops.
Having owned her own Pet Boutique for over 20 years, Susan also has experience in all areas of retail and merchandising, and most recently set gift shop displays at Crystal Bridges American Art Museum in Bentonville, AR for the Walton Foundation
Susan holds a Bachelor of Science degree in Interior Design from the University of Central Arkansas.
Top Retail Trends for 2016 Webinar
www.traveloscopy.com
Please join Chris Boring from Boulevard Strategies as he overviews the rapid changes occurring in the retail industry with a presentation of the top trends for 2016. This year’s trends include the state of department stores, web retailers opening bricks and mortar stores, the rise of mobile commerce, the shopping habits of Millennials, and free same day package delivery, among others. Chris’s presentation will also address the state of independent retailers and restaurants in Ohio’s 82 non-urban counties as well as 10 things Main Street merchants need to do to remain relevant in the modern world. Whether you are a Main Street manager, a Main Street merchant, or just someone who enjoys a little “retail therapy” once in a while, be sure to tune in for a fun and educational session.
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Presenter Bio
Chris Boring
Chris Boring is founder and a principal owner of Boulevard Strategies, a Columbus-based retail consulting and urban planning firm that specializes in market analysis. Chris has completed dozens of retail consulting assignments across the United States, as well as overseas, throughout his 30-year career. About two-thirds of Boulevard Strategies’ work is for public and non-profit sector clients, including development and planning departments, chambers of commerce, and merchants associations. The firm’s market and fiscal analysis provides direction to various planning efforts by such organizations. Since 2011, along with his business partner Deb Miller, Mr. Boring has consulted with the owners of 68 independent retailers and restaurants, mostly Main Street businesses, in the Retail is Detail program sponsored by Heritage Ohio and the U.S. Department of Agriculture. Topics covered range from inventory management and social media marketing to store displays and new menu items, among many others. In addition to client-based work, Mr. Boring tracks retail trends locally and nationally. He develops a Top Ten list which he unveils each year, this year being his eleventh annual all-new key trends presentation. Today’s list is a version specifically prepared for Heritage Ohio.
Customer loyalty: what have you done for your best customers lately?
One important piece of any retailer’s strategy is how best to hold onto, and grow the relationship with, your repeat customers. Repeat customers can be the lifeblood of a successful business because: 1) your best customers tend to outspend a regular customer by a $16:1 ratio, and 2) 67% of customers stop shopping at a location because of perceived indifference.
A good loyalty program can encourage your customers to buy more, shop more often, and build their loyalty to the store (creating “sticky” customers), all while you as the retailer continue to build your customer database. Plus, the loyalty program doesn’t have to be overly complicated.
Here’s one example of how a loyalty program could work: after six sales, 10% of the total sales goes back to the customer as a store credit. So if a customer spends $165.27 over the course of six sales then after the sixth sale the customer has a store credit to spend of $16.53. Easy, no?
The loyalty “card” itself doesn’t have to be especially elaborate: an index card marked with six boxes to record sales is all you need. The cards are kept at the front counter and the sales are recorded at checkout. Google “customer loyalty card” for examples to get the creative juices flowing.
If you’re considering adding this program, or tweaking an existing program, there are some things to keep in mind:
Redemption is addictive Anyone who has and keeps the “buy 10 get one free” coffee sleeve can attest to the feeling of accomplishment after that tenth punch, and the desire to start a new card. Redemption through this loyalty program is the same way.
If launching the program, do so with a bang Consider adding a $100 purchase box after the first purchase so customers can get to redemption quicker. If $100 is a bit steep considering average sales or pricing on your merchandise then make it $50. Either way, your either investing $5 or $10 into strengthening the relationship with your best (or soon to be best) customers. It’s money well-spent.
Incentivizing the program is only limited by your creativity (or ability to rip off and duplicate) One store with a customer loyalty program offers a special deal for its frequent shoppers. Customers that fill out and redeem three cards receive a shopping bag. Customers can then use that bag on special days for 20% off everything that fits in the bag. The bag is branded to the store, it’s sharp, and the only way to get a bag is to complete three loyalty cards. While the customer feels like they’re getting a great shopping incentive (and they are) the store owner has 18 sales and a customer invested heavily into maintaining and strengthening the retailer-customer relationship (ie, continuing to spend, and spend more).
Use the program to promote your store and get customers through the door Offering incentives such double dollar days, double box days, referrals, and out of town guests, markets your store, building your customer base while strengthening the relationship with your best customers.
Depending on your customer cycle, tweak your box count A coffee shop with repeat customers on a daily basis may have a ten-box card before redemption, while a furniture store may have a card with only three boxes before redemption. The key is to make redemption attainable. A loyalty program few can take advantage of because redemption is nearly unattainable is a waste of your time and your customers’ time.
Do you have, or participate in a customer loyalty program that works especially well for your store? Tell us about it in the comments below.