Bricks & Mortar Stores – Downsizing Your Footprint? Strategies for Success
2013 was a huge year for many big box stores when it came to downsizing or consolidating. A number of well-known stores chose to close locations over the past year, some as a response to the growth of online sales and others as a result of declining sales. And this trend continues with several other stores looking to downsize their bricks and mortar footprint in the New Year.
This downsizing trend can be a major project, one that requires planning and organization. Both retailers and brands located at retail need to be mindful of the impacts that a poorly executed downsizing can have on brand recognition and customer loyalty. So how can you maintain consistency during this process?
Whether you are a retailer or a brand, we’ve got some downsizing best practices to adopt for success.
Retailers: When you downsize, who is going to handle the extra work that comes with that? Your regular staff? If so, who will handle customer service? People support can be a huge part of any downsizing project. When you are moving to a different location, extra hands on deck are crucial to ensure efficiency. Whether you are moving stock, setting up shelves, or restocking, having enough people to handle the job is essential. Just because your store is going through a transition doesn’t mean that service should suffer – otherwise your reputation and image will suffer as well. A company that can offer the experienced and professional people support you need is the best way to go.
Brands: Planogram compliance is going to be a major challenge when it comes to a retailer’s decision to downsize. When you first set up your planogram, you likely made sure that it was done properly or were aware of compliance issues. However, once a store moves and the responsibility to correctly set up your planogram falls into the retailer’s hands, it can be difficult to ensure compliance. Instead of worrying about that, find a professional merchandising company to take care of it. This way you can ensure the plan is followed to your exact specifications and that any issues will be handled immediately.
If you are planning to downsize in the coming months, or know of a scheduled downsizing that may impact the performance of your brand, you need to be prepared. Waiting until the last minute is a surefire way to encounter problems, and so why not get things organized well in advance – that way you can tackle any issues as they arise without having to worry about planning at entire move or renovation at the same time.
Planning to downsize in the future? Let Marketsupport help you cover all the bases. Contact us today by calling 1-877-421-5081.« Back to Blog