In theory, furniture stores should always do well because people have homes and will always need furniture. Unfortunately, this is not always the case. So what makes one furniture or homeware business successful and another flounder in this highly competitive market? We have developed some valuable tips to help propel your homeware or furniture store forward.
Watch Your Costs
An easy way to improve your furniture or homeware store’s bottom line is to look across your business and see if there are any realistic places you can cut costs. Covid forced many companies to do this; in the long term, this is a perfect practice that should be revisited regularly. If you look carefully, there are a lot of places you can shave costs to improve your bottom line. Delivery, for example, is a great way to save on operating costs. So carefully track this, and ensure you are charging correctly for delivery. Another way to save is to find the best payment processor for your business. This often includes equipment and repairs, saving your store money in the long term.
Advertise to Your Market
Before you advertise to your market, you must know who your market is and how to speak to that customer. The way to do this is to talk specifically to their needs. Once you understand the playing field, promote your strengths authentically. Also, think about how you can offer your customers added value, for example, by providing free delivery for purchases over a certain amount or by providing a design service.
Be Competitive
Low prices do not always equal lots of customers. Competitive pricing is about adding value that will bring customers to your door. It comes down to your value proposition and how much you’re asking people to pay for that. Pricing also comes down to the earlier point of really understanding your customer. Your pricing must appeal to your target market, location, and demographic. You can also up the competition by offering an add-on service like customisation. This is sometimes risky and should be executed carefully and based on research to justify the time and effort behind the initiative.
Train Your Sales Team
Your sales team are the interface between your customers and your products. They must have a strong knowledge of the product lines and a clear understanding of different price points. They need to be able to use this information and engage with the customer in a dialogue around their specific needs and wants, meaning they need to be skilled listeners. Customers love having their needs heard and met, and your sales team can facilitate this experience. When the customer experiences this feeling, they will become loyal and generate positive word-of-mouth about their experience.
Show and Tell
Customers often don’t realise what they want until they see it. Creating alluring displays and interactive spaces in-store for your products will help your customers visualise your products in their homes. This will then close the gap between “imagining” and “having,” which means more sales for your store.
Excellent Customer Service
Your furniture store cannot afford to give customers bad experiences. Instead, it should strive to build good customer relationships and create an environment of trust and loyalty. This ethos needs to extend from floor to warehouse staff. It can be simple things like communicating politely and setting realistic customer expectations. This applies to the business owner, too—treating your workforce well fosters courteous and respectful conditions that will be passed on to the customer.
Provide Satisfying Delivery
Delivery services are integral to furniture and homeware stores. Remember that this is not just a means to an end but the final touch point with your customer. Remember that you want your customers to have a beautiful experience with your brand from beginning to end. This comes down to delivery staff who can put a satisfying ‘full stop’ at the end of the purchase. Great delivery staff are polite and presentable, and they communicate about delivery and setup. Your delivery staff must understand the intricacies of handling and assembling furniture, and the entire process must be smooth and helpful.
Market Your Furniture and Homewares Business
It would be best if you marketed your furniture and homewares business. Today, the world is online, so you should consider online marketing alongside traditional marketing methods. Get on relevant social platforms, showcase your projects, and promote your business. Also, be sure to get a website; it gives the impression that your business is significant, even if you are starting.
When it comes to marketing, you might feel overwhelmed. But do not worry; we will help you reach the right audience and create a brand for your business.
If you have further questions or concerns, please get in touch with our Business Lawyers through our contact us page. We aim to become your preferred choice for Business SEO-savvy lawyers in Nairobi, Kenya.