High street spending continues to falter

28/05/2018 09:12

Recent news has made grim reading for high street retailers, with one in ten high street stores standing empty and, seemingly, no light at the end of the tunnel.

Footfall has continued to drop through March and April and
consumer spending is on track for its worst performance in six years. Many would be forgiven for thinking that perhaps the end of bricks-and-mortar retail is nigh.


However, for those looking to fight against the ongoing dip and rejuvenate, there is hope.  


Personalised Engagement


Businesses operating on the high street must face the issue of online purchasing and why the spending public is so enamoured with it. They need to understand that people like convenience and they like a range of choice. But retailers can use this in their favour.


With this in mind, providing a personalised customer experience is paramount to high street survival. If shoppers are looking for in-depth knowledge and bespoke customer care, then that is what is needed. Providing this level of attention and knowledge is what will separate superior retailers from their competition – high street and online.


Post-Purchase Care


In order to survive and flourish, high street retailers need to think beyond numbers through the door and purchases. Building trust and a relationship post-purchase is an invaluable tool for the public-facing business.

At their core, shoppers like knowing they are in good hands. Great knowledge and attentiveness are brilliant tools to build a brand bond, but so is after care. Shoppers need to know that their post-purchase needs are just as important to a retailer as their pre-purchase requirements. Offering top-line return policies and a caring attitude are strong methods for building a relationship between retailer and shopper.


Buyer Persona


The reason many retailers struggle on the high street is that they’re not really sure who it is they are trying to attract. Knowing your buyer’s persona feeds through into all areas of operations, from branding to stock.


Defining age, income range, product preferences, gender and other factors can go a long way toward making it clearer just who a retailer’s prime market is. From this flows the needed adjustments and changes to ensure this shopper becomes a repeat customer. At its core, retail comes down to understanding, engaging and tailoring the shopping experience to the right person.

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