Why Retail Clothing Boutique Stores Should Follow Trends

One of the biggest mistakes made by retail clothing store boutique owners is not keeping up with the current trends. It's no secret that apparel styles go through phases. Certain styles that are hot and popular right now might be gone next season. This is a fundamental principle of the fashion world, and it's doubtful it will change anytime soon. The bottom line is that you must account for fashion trends if you want to run a successful, profitable retail clothing store.

As a retail boutique store owner, you must not only identify current fashion trends in the market but predict them as well. Far too many store owners look at the current trends to build their store around. While this may offer you some initial success in sales and profits, it will eventually catch up to you. In order to maintain a long-lasting, successful business, future trend predictions are necessary. Of course, this is a big risk for store owners to take, especially if you are new to the fashion industry. Failing to predict the right future trends could spell disaster for your business as a whole.

So, how do you know which styles are going to be popular next season? Unfortunately, there's no crystal ball you can look into to predict the future of fashion. If that were the case, I think most retail clothing boutiques would be incredibly successful. The good news, however, is that you can still gather clues and hints for fashion trends from various sources like fashion magazines, fashion shows and even social media networking sites. Stay in tune with the fashion world so you can carefully observe the upcoming and outgoing trends.

Once you've predicted future fashion trends, you should now update your store's inventory. Try to move styles that seem to losing steam in terms of popularity. You can place them on sale, run promotions or move them over to a clearance rack to get rid of them faster. Once these items are gone, start moving in some of the new products based around your future fashion trend predictions. By keeping your store on the front lines of fashion, you'll naturally set yourself apart from competing stores.

There's no way to know exactly what direction the future of fashion will take. However, there are tons of tools out there to hep you better predict this information. Using social media networking sites, fashion shows, fashion magazines and even looking at other stores' inventory will give you a better idea as to which fashion styles are trending.

Benefits of Launching a Website For Your Retail Store

Does your retail store or business lack an online presence? If so, you could be losing a significant chunk of customers and ultimately profits. According to some estimates, around 2 billion people worldwide use the internet on a regular basis. Leaving your business out of the mix is essentially the same as turning your head at one of the most valuable business tools. Whether your retail store sells clothing, handbags, jewelry, makeup, electronics or practically anything else, chances are could benefit from having an online presence; here's why:

Benefit #1 - More Sales 

Launching a website for your retail store is almost certain to increase your business's sales and overall profits. By giving your customers an alternate method for purchasing product, you'll find a huge bump in quarterly sales. E-commerce is a multi-billion dollar business that shouldn't be overlooked. Check to see whether or not it's feasible to sell your products online. Hiring just a couple IT guys could essentially get your retail store business online so customers from all over the country or even world can purchase your products.

Benefit #2 - Easier To Find

Let's face it, the days of flipping through a bulky phone book to find the addresses of retail stores and companies is long gone. People today are now using the internet to locate contact details and addresses for stores and businesses. It takes less than a minute to type in the name of a company into Google. As long as the company has an internet presence, Google will likely find it and reveal this information in their results. Of course, there's no way for Google to show customers this information if the company does not have a website. The bottom line is that every retail store owner needs to invest some of their time and money into creating a website; otherwise, customers won't be able to find them.

Benefit #3 - Cheap and Easy

Contrary to what some people may believe, launching an official website for your retail store or business doesn't have to cost and arm and a leg. In fact, it's actually quite inexpensive and can be done for under a hundred bucks. All you need is a domain name, web hosting, and the technical ability to create the site. Even without any previous coding experience, you can still use a what-you-see-is-what-you-get (WYSIWYG) builder. These programs make building professional-looking websites a breeze, so check out a few of the top ones if you are looking to build a site for your retail store.

Creating a Mission Statement For Your Retail Store

When you are busy launching a retail store, it's easy to overlook something as simple as a mission statement. After all, store owners have hundreds of other tasks to worry about. However, placing your store's mission statement on the back burner will only hurt your business as a whole. The time and energy it takes to create a proper mission statement will prove to be well worth it in the long run. But just how are you supposed to create one? To learn more about the importance of mission statements and how to create one, keep reading.

A mission statement is just what it sounds like -- a statement used to describe the store's goal. Nearly every successful business has a mission statement to help guide their employees in the right direction. If a certain employee or even branch of the company strays from the goal, they can look back at the mission statement for more guidance. It's a simple yet critical part of a business that every store owner needs to address.

If you look at some mission statements from highly successful companies, you'll likely notice they all have a few things in common. For starters, mission statements are typically short and sweet. Rather than writing some long essay that no one is going to read, you can convey the core values and goals of your company in just a couple sentences. In fact, some mission statements are just a single sentence long. You obviously won't be able to say a whole lot in just a single sentence, but that's usually all it takes to convey the heart of a company.

Creating a proper mission statement isn't something that should be rushed or hurried. While it may only be a couple sentences long, those words must be carefully chosen to ensure the right message is conveyed; otherwise, your mission statement will send the wrong message about your store. Start by thinking about what your store is all about and what sets you apart from your competitors. Perhaps it's your store's exceptional level of customer service that brings so many repeat customers back for more. Or maybe it's your focus on high-quality goods. These are just a few examples of key ideas to portray in your store's mission statement. If you are still stumped and can't seem to think of a mission statement, don't be afraid to ask for help from other executives and employees.

Acrylic vs Metal Displays - Which Is Better?

In-store displays and signs play a critical role in the success of a retail establishment. Without them, you are essentially wasting valuable physical space in your store, which ultimately results in a loss of sales and profits. While they are simple in design, signs and displays give you the ability to market products and items to customers. Generally speaking, most in-store displays and signs are made using one of two different materials: acrylic and metal. Here we'll take a closer look at the pros and cons of each material and reveal which one comes out as the winner.

The Importance of In-Store Displays

As previously stated, in-store displays are essential to the success of practically any retail establishment. Sure, you might be able to get some sales without them, but you are leaving tons of money on the table. Using signs and displays inside your retail store will encourage customers to purchase your products, and that's the end goal for most establishments. Whether your store sells clothes, electronics, groceries, jewelry, handbags or pet supplies, you need to use signs and displays to maximize your profits.

Metal Displays

Some of the displays you'll find on the market are made using a metal material, such as aluminum or steel. Aluminum displays are inexpensive, but they also tend to damage easily. Let's face it, store displays are sure to take a beating from customers running into them and knocking them down. Cheap aluminum displays probably won't be able to hold up under this type of pressure. Steel displays are a better choice simply because they are more durable, but they are also more expensive.

One thing you'll need to be aware of with metal displays is that they are prone to rust. Anytime moisture develops on metal, it's going to lead to rusting. Just the high humidity inside a retail store is enough to cause some of the cheaper metal displays to rust. You can prolong their life by keeping them dry, but that's about the only technique for slowing down the progress of rust.

Acrylic Displays

On the other side of the fence is acrylic displays. Based on its appearance, you might assume acrylic is just another form of glass, but this isn't the case. Acrylic is an incredibly hard plastic that's crystal clear. Unlike glass, however, acrylic doesn't break easily. You can hit it, kick it and run into it without fear of your acrylic displays breaking. Yet another reason why so many stores choose acrylic displays is the weight. Holding one of these displays in your hand will reveal just how lightweight the material is.

How To Clean Slatwall and Slatwall Hooks

Using slatwall is one of the easiest and most effective ways to display retail store products. Whether your store sells t-shirts, sweaters, jackets, handbags or even toys, you can use a slatwall to display them. Their peg-in design gives store owners the ability to easily move the product around, maximizing their overall amount if display space. To ensure it remains attractive and appealing, though, you must invest some of your time and energy into cleaning both the slatwall and the hooks; here's how you do it:

Remove The Product

The first step in cleaning slatwall is to remove all of the product from it. Depending on the size and scope of your slatwall, this may or may not be an easy process. Some store owners may try to save time by leaving product on the slatwall, but you really can't give it a thorough cleaning this way. Instead, pull off all of the product and lay it off to the side while you clean it. You can place the product in a shopping buggy, baskets or even bread trays. Just remember to place it in an area where it's not going to gather more dust or dirt.

Cleaning Slatwall

Once all of the product is removed, it's time to start cleaning the slatwall. There are several different ways to approach this, but I've found that a solution of white, distilled vinegar mixed with water offers an effective, all-natural way to clean slatwall. Fill up a plastic spray bottle with half vinegar and half water. Using this solution, spray the slaywall while wiping it down with clean paper towels. Don't worry about the somewhat pungent odor of the vinegar, as it will go away once it dries. The truth is that vinegar actually kills germs, mildew, mold and bacteria that cause bad odors, so it's really working to your advantage. You can use diluted vinegar on practically anything in your store, including slatwall, gondolas, freezers, coolers, etc.

Cleaning Slatwall Hooks

Cleaning the hooks pretty much involves the same technique as cleaning the slatwall. Hopefully, you have some of the diluted vinegar left over. Give the hooks a good coating of vinegar and wipe them down with a clean paper towel. When you are finished, leave both the slatwall and the hooks out to dry for 10-15 minutes before placing the product back on them. Sorry if you were expecting more, but that's all it takes to clean slatwall and slatwall hooks!

Using Email Marketing To Promote Your Retail Store

Are you sending out emails to notify customers of special promotions, sales and other events? If not, you are leaving one of the most effective forms of advertising on the table. Unfortunately, some businesses are still stuck in the mind set that email advertising isn't a necessary element for their retail store. While you might be able to turn a profit without it, using email is a powerful tool that will increase your store's revenue.

How To Gather Email Addresses

It's important to only gather email addresses from people who willingly give it out. The CAN-SPAM act prohibits individuals and businesses from sending out unsolicited emails. Sending out spam emails is unethical, illegal and it could end up costing you thousands of dollars in penalty fees. To avoid such heartache, only use email addresses that were willingly given out to your business.

So, how are you supposed to gather email addresses? There are several different ways to accomplish this, but one of the easiest methods is to ask your customers for their email address while they are checking out. Train your store's cashiers to say something like "Can we have your email address to occasionally send you special discounts and coupons?" People love to receive and use store coupons, so this is a highly effective way to willingly gather email addresses.

Another way to gather email addresses is through an opt-in box on your store's website. If you don't have a website, well you need to get one. When customers can't find the location or phone number to a store, they will likely search for it online. By keeping your business "offline," you are making it difficult for customers to find you. Launch a website and place an opt-in box for visitors to enter their email address.

Using Customers' Email Addresses

Now that you have your customers' email addresses, it's time to put them to use. The key thing to remember is that you only want to send emails out on occasion. Blasting your subscriber list with emails on a daily basis will either force them to unsubscribe or to stop opening them. Either way, it's a losing scenario for you. Instead, try sending out a single email advertisement with a helpful coupon or special promotion about once every 1-2 weeks. This will give your customers the impression that it's truly helpful and worth reading your emails. While you are doing this, constantly tweak and adjust your emails to see which ones perform best.

Keeping Retail Store Employees Motivated

When you are busy managing and performing all of the day-to-day tasks of running a retail store, it's easy to overlook something as simple as your employees' disposition. However, employees who go about their job responsibilities with no real pride or enthusiasm can ultimately hurt your store and its profits. But just how are you supposed to keep your workers focused in the right direction? Keep reading for some simple yet highly effective ways to motivate retail store employees to excel on the job.

Recognition

Far too many store owners and company executives simply cut their employees a paycheck and call it a day. While all employees expect to be financially compensated for the time and energy they've invested into the company, you can also recognize those who go above and beyond the call of duty with a personalized award. Perhaps you can hand out personalized awards once a month to employees who generate the most sales. A couple awards isn't going to break your store's bank account, but it will keep your employees motivated to push themselves harder. A basic plaque award with the store's and employee's name on it will send a positive message to all of your workers.

Motivational Speaker

Have you considered hiring a motivational speaker to come in and talk with your store's employees? For the price, a professional motivational speaker is almost certain to pay off in the long run. They'll come in and discuss the importance of hard work, ethics and moral values on the job. Contrary to what some people may believe, listening to a motivational speaker can actually be quite fun, and it gives employees a break from their usual daily work responsibilities. Do some research and call around to various motivational speakers in your area to see what they offer.

Create Personal Relationships

If you want your employees to truly appreciate you and their job, you must work to create a personal relationship with each and every one of them. Make it a point to talk to your employees when you see or pass them in the store. Even if it's just a quick "Hello, how are you?" It's small conversations such as these they will show your employees you care.

These are just a few of the many ways for store owners to keep their employees motivated. By having motivated employees, you'll notice an improvement in work efficiency, punctuality, sales and ultimately profits. And these are all critical elements that every store owner should focus on.

3 Reasons Why Your Retail Fashion Store Isn't Profitable

Running a retail fashion boutique is a fun and highly rewarding experience that gives you the opportunity to express your creative side through fashion. If you the type of individual who's always on the lookout for the next trend in fashion, then you should consider this line of work. People are always in need of new clothes, so this is somewhat of a recession-proof industry. Unfortunately, though, many newcomers to the retail fashion world take the wrong approach towards their business, resulting in little-to-no profit. In order to run a successful fashion store, you must work on earning more money than you spend; otherwise, you'll continue to remain in the red without a truly sustainable business model.

Reason #1 - Poor Location

Is your retail fashion store tucked away in some dark alley that's hard to find? Sure, you might save a couple bucks on your lease by opening a store here, but it will also make it increasingly difficult for customers to find. The bottom line is that your retail fashion store needs to be located in a prime shopping area that's easy to see and access from a major road. If people can see your store from the road, you can take advantage of this by using a large and prominent sign to help attract them. For the price, leasing a store that's close to a major road or highway is well worth the investment in the long run.

Reason #2 - Pricing Too Low/High

Unless your store's garments are prices just right, you probably won't turn a profit. Pricing your garments too low will likely result in you not making any profit off the transaction. On the other hand, pricing your store's garments too high will discourage customers from buying. So, how do you know what to price the products in your store? Unfortunately, there's really no easy answer to this question, as it will depend on a variety of different factors. The single most important factor, however, is to price them high enough so you are making a profit on each transaction; otherwise, it's not worth your time and energy to sell the item.

Reason #3 - Not Creating an "Edge"

The secret to running a successful and profitable retail fashion store is to give yourself an edge. By this I mean something that makes your store stand out from the competing fashion stores around your area. Let's face it, you probably aren't the only store in town that sells garments and/or accessories. Therefore, you must set yourself apart by having a unique edge. Perhaps you can decorate your store in trendy modern designs, or you can give your store a uniquely brandable name that's easy to remember. These are just a couple of the many ways to create an edge for your retail fashion store.