Retail Store Photography, Sydney

Retail Business Competitive Advantage

How to Get the Most from your new Retail Shop

Starting a Retail business is no mean feat. Let alone competing with rivals and winning against them. Just having a big budget in the plan is not enough. It’s just the first step. If you fail to tick all the boxes of proper execution of the idea as a whole, the money you spent will turn into a total loss.

When you do it the right way, you simply outperform your competitors. So the profit can sometimes be massive when all aspects are covered in the plan.

In this article, you will learn about retail business (both online ecommerce and in person bricks and mortar), competitive advantage, and how you can outperform your competitors with the advantage of good planning and knowledge.

These not always easy to apply tactics are put in simple words so that you understand them better and encourage you to apply these basics in your retail business strategies.

Contact us for help with planning your next shop or e-commerce store.

Retail photography

Retail Business

When you are not a manufacturer but are selling a products, you are the retailer and in the retail business. Retailers can be thought of as the opposite of entrepreneurs. A retail business hence is easier in some areas but has its own struggles as well.

The manufacturer makes a product, reaches out to you, or perhaps you somehow got to know about it and reached out to them, and both of you get involved. The retailer will buy the products from the manufacturer and then sell directly to the consumers. It could be online, could be in a super size shop or a small store.

Competitive Advantage

How can we position a retail store for competitive advantage?

A competitive advantage is basically the strategies, the ideas, the attributes and execution that help you do comparatively better than all your competitors.

When you start a business, you cannot expect a monopoly. It’s a given that the same product will be sold at the same price, in the next shop. And they are carrying out a standard retail business just like yours.

Those who could add some extra ideas to attract and hold their consumers through their offers, behaviours and any which way, are the ones that will grab the number one spot among hundreds selling the same goods.

If you join the Retail Association and your competitors have not, this will be another advantage. Also a little bit of luck plays its part, no doubt.

Now, what are the competitive advantages that can make you win against your rivals.

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Tactics to give your new retail store the best start

Stick to a Niche

It’s the first rule of retail business. Choosing a niche where you have some expertise is a must.

The meat shop cannot have clothes hanging on the counter. Different types of meat could be available and well exhibited for the consumers to know what you are selling and what they can expect and get from your shop.

So, if you are selling clothes, sell clothes, perhaps add shoes, bags, and at best, cosmetics. And if your business idea is inclined towards food items like vegetable oil, lentils, butter, keep it that way, do not add a corner to sell clothes.

When you are sure about what your strengths are and sticking to them, your shop looks well organized with related products. The customers will get a clear idea and come to your shop again without feeling confused or overwhelmed.

Advertise Your Products

In today’s fast-paced world, where people have everything within their reach, it becomes vital to advertise and show your products.

By product, we mean your business or shop. Let people know about your shop and what you are selling there.

It could be a simple 30 second video. Making it interesting is the key. You have a medium like YouTube, different apps, television, Influencers in various social media platforms to advertise your shop.

It demands a budget, we know, but we are talking about outperforming our competitors and being able to charge premium pricing, remember.

Eventually, you will reap the benefit of spending a little more right in the beginning than not being able to secure the revenue for growth.

Have a Website

We live in a world where every second person has a smartphone or device, and every third person does online shopping. So, make sure to launch a website the moment or before you have opened a physical shop.

Not many retailers adopt this idea as the consumers can be less predictable during online shopping. Even if you have a better sales team than your competitors, always try to offer online shopping.

Everyone knows how convenient online shopping can be. If someone had bought one beverage when they came to your shop, the same person would order three online: triple the amount, triple the profit.

Hire a Professional Photographer

While we’re talking about having a website, to make that website you will need some outstanding pictures of your shop, products and how to find your front of store photos. These can only be done by a professional photographer.

Hire a professional photographer, pay them well, and make them understand your requirements. Take their ideas as well, and have a good amount of photo sessions.

Embellish your e-commerce shop with those images, adorn your website with high-quality images of your shop, staff and products.

Your customers will get attracted to your products and shop regularly. The appearance always does most of the work of attracting consumers.

If the highest quality product doesn’t look right, no one is going to buy that product. Appealing photos sell products 10x compared to your retail competitors.

A professional photographer will take into account your commercial photo shoot brief that contains the mood on the interior space as well as highlight the main features you’ll be running promotions for. An experienced photographer will be of benefit to boutique niche businesses and the major outlets and franchises such as the types you find in Westfield / Scentre Group, Vicinity Centres and Stockland malls.

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Where can you use professional photos of your business?

You can use professional photos of your retail business on Amazon, eBay and most certainly on your own website. Also for Social media, Facebook, Instagram, Distributors and reseller’ websites. Pretty much anywhere you have an online presence.

Making the most of the benefits of professional photography for direct to consumer retail business is critical to your success. If you’re not online looking your best you will not be found because you will be outperformed by your competitors and possibly having to wear a total loss.

List of what you can photograph for a retail photo shoot

  • Interior
  • Product shelves
  • Long isles
  • Friendly service
  • Front counter
  • Products in use
  • Shopfront
  • Signage
  • Staff
  • Warehouse or storeroom
  • Stock quantity
  • Exterior of the store
  • Car park

Have a Marketing strategy

Now that you’ve got a great portfolio of photos you need to create even a basic outline of how you are going to use them.

Engage a Graphics designer to help you with text overlays, icons and generally making a brochure or website banner look professional. With a Digital marketing plan, great digital assets and promotions plan you’ll be another step ahead of the competition who has not.

Quality Products

Never compromise with the product quality. Even if you have to face loss, make sure to exchange a defective product that is brought back to you by the customer.

When a retailer always sells quality products, the customers have blind faith in them. Word of mouth spreads like wildfire. One customer will bring multiple customers to you because you have made your mark by selling quality products.

Always Take Care Of Your Manufacturers & Suppliers

Stay connected to your manufacturers, encourage them to produce high-quality products, assure them how their products are helping to flourish your business, and pay them well.

Big manufacturers will anyway compel you to pay them well. We are talking about small manufacturers who, most of the time, struggle to sell their products at the price they deserve. Be honest to your manufacturer; the money will come.

Attract And Impress Your Customers

Always try to offer some gifts or bonuses to your customers. Give them some discount, or something free with a product, or hand them some coupons for them to use later, these tactics attract the customers back. And please do not give random useless stuff. You need to send trustworthy signals to your new customers.

Always provide some useful products. When the customers know they can use the products they got for free, they will buy multiple of them and be champions / advocates for your business.

Regular Products Have Something Very Unique

Analyze your rivals’ strategies. You could mystery shop your competitors, many do.

The idea is to have something in your shop which no one is selling. You can also inform your consumers to let you know what they want, and you will try your best to get that unique product to them. The idea could be unique; the products could be bizarre, basically have something distinct to offer to your consumers.

When you are new, every step is difficult to take. So, knowing some basics helps you to take these essential steps.

Learn from your experiences, add your ideas, sometimes the best plan fails, and sometimes the most common strategy works.

Always try different things and continue bringing freshness to your retail outlet.

Keeping to your business plan and one eye on the changing economy, build a network of friends up and down your vertical and you will be well on your way to retail success.

Our promise is high-quality photos, coupled with excellent pricing and professionalism.

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