You’ve probably read a few headlines about the death of retail and how soon we will all purchase everything from evening gowns to groceries on the internet. We are here to tell you that this is simply not true! Retail is as healthy as ever, and brick and mortar locations aren’t in any trouble at all.
#1 Numbers Indicate Sales Aren’t Falling
Headlines keep shouting about retail sales falling month by month, but when you look at the bigger picture, you can see that on a quarterly and yearly basis, sales are increasing. In fact, sales in Q1 2017 are 4.1% higher than they were in Q1 2016.
#2 A Changing Industry Is Not the Same as a Dying Industry
Changes in the industry—namely widespread use of online retailers—have made a lot of people panic, both inside and outside the retail industry. Reports of failing brands have caused stocks to drop, which contributes to the idea that the industry is failing in an endless circle. However, brands that are willing to adapt to the new ways that consumers shop can see a lot of opportunity in the industry. Below are several tips for helping your brick and mortar women’s clothing boutique thrive with the times.
Tips to Help Your Brick and Mortar Women’s Clothing Boutique
Supplement with Online Sales
It would be silly to ignore the fact that online sales have a big impact on the retail industry. A brick and mortar women’s clothing boutique needs to be available to customers who shop online, or else miss out on customers.
(Apricot Lane franchisees have assistance with their e-commerce sites from our experts, so they can take advantage of online sales and reach a larger customer base.)
Stick with Fast Fashion
In the last decade, retail has changed to a more flexible model with stores getting new styles much more frequently than they used to. There used to be a collection with each season, but fast fashion has changed everything, bringing new styles to stores on a weekly basis. Stores that follow this model have something new each week, giving customers a reason to stop in more frequently.
Sell Carefully Chosen Pieces
Just like retail is evolving, today’s style is different than it was ten years ago. Customers do not want to buy the same clothes that everyone else is wearing and gone are the days of wearing t-shirts with a store’s name and logo prominent on the front. Instead, customers want their clothes to be as unique as they are, which is why women’s clothing boutiques are so popular.
In a recent article for Forbes, retail analyst Paula Rosenblum said, “retailers selling interesting items and curated assortments are doing really, really well.” The imperative words there are “interesting items and curated assortments.” If your retail store sells unique, hand-chosen pieces from a limited collection, customers can see the value of your products.
Apricot Lane Boutique has remained relevant in the retail space by following these tips and creating a space where our franchisees can build the businesses that work in their communities. If you want more information about becoming a franchisee, get in touch with us!