Shopkeeping is one of the oldest trades there is, and one many people inherit from their families. Plenty of others dream of opening a shop of their own but have no idea where to begin. For anyone thinking of going into this line of work, today we are sharing the open secrets — the ways to run a shop that turns a proper profit. Let us look at what really deserves your attention if you genuinely want to open a shop.
Survey the location and the competition, and you will sell
One of the ways to run a shop that grows and keeps trading for years is choosing a good, suitable location. Most ordinary shops — grocery shops and mini-marts especially — need to be somewhere easily seen, because there is competition on every side these days. So a new shop should look for a site that is visible from several angles, or a spot close to a residential community. Somewhere with parking makes life considerably easier for customers too.
Choose products that suit the location
Beyond picking the right spot, a shop should carry a varied and interesting range for customers to choose from, because stock that stands out from the other shops, or that is unusual, is what catches a customer's interest. Importantly, you should look at who your main customers are and what people in that area do and do not like, so you can choose products that answer what customers in the neighbourhood actually want.
Fit out the shop so people want to come in and buy
What makes a shop stand out from its competitors is keeping it looking interesting. The important technique here is choosing a style of decoration that suits the kind of goods you sell, or that suits your customers best, and keeping it in step with the trends and with the major festivals through the year. As well as giving customers a reason to want to shop with you, it is a way of running a shop that gives the place a character of its own.
Set your prices and run good promotions to win customers over
Pricing is another factor that weighs heavily on whether someone buys. So beyond working out a price that gives you a profit over your costs, you can use the psychology of pricing to nudge customers into deciding faster, and apply the same principles to your promotions. It is a way of running a shop that gets customers to make up their minds more quickly. Here are a few simple tips.
- Prices ending in 9 work on the psychology that makes a customer feel the item is not too expensive, that it is within reach, and that they can decide quickly.
- Two for less than the price of two is another pricing principle that lifts the number of items sold, because the customer feels they are paying once and getting more, or adding only a very little to get a lot more.
Prices that are easy to remember are another tip worth using when you are new to shopkeeping: every snack at 5 THB, water at 10 THB a bottle, and so on. And do not forget to put the price signs where they are easy to see, which helps customers decide faster.
Add more ways to sell
As you can see, opening a shop today does not confine you to selling within its four walls. You can add more sales channels to build your profit and make buying easier for your customers — selling on online platforms or through delivery, for instance.
Use a POS system to put your management on a proper footing
Choosing a POS system to handle the selling and the back office is one of the real secret weapons, and one of the ways to run a shop more efficiently. The device takes the form of a till and comes with features that suit a shop: ringing up sales, a table plan for the room, order management, support for several ways of paying, and loyalty cards. As well as making it easier and more convenient for the owner to manage everything inside the shop, it makes life easier for customers too.
If you are one of the people who dreams of opening a shop and growing it on steady ground, with more regular customers and, importantly, the profit you set out to make, we would recommend Qashier’s POS system for running a shop — a complete system that covers every side of the selling, with a great many features that answer what you need, so you can run the shop floor and the back office efficiently. If anything is unclear, our specialists are on hand to advise you for as long as you use it. If you are interested in the product and want to push your retail business forward, contact us for more details on LINE Official: @qashier.th or call 02-544-0267