Just because chains like Woolworths and ALDI are dominating the retail market, doesn’t mean that there isn’t any space left for the smaller grocery stores. Granted, there may not be as many around but their certainly an important part of each and every neighbourhood.
Grocery store owners can still make a great living, provided that they run their business well. Due to large supermarket raising the bar in terms of customer service and the overall shopping experience, grocery store owners have been forced to keep up. High efficiency and productivity are also needed if you expect to keep up with your larger competitors.
Therefore a varied skillset is required to keep the business running well in this now-competitive industry: from being able to provide extremely fast service to picking out the most high-demand products in the market.
Putting Out Promotions
A lot of people love shopping at Supermarkets because of the regular promotions they put out. There’s no reason that you can’t attract more customers by doing the same.
When putting out a promotion there are a few things to consider. For instance, it should be for a product that’s at least a bit popular. Otherwise, they’ll still stay in your shelves. In addition, you should also be careful when discounting an item. Factor in the cost of implementing the promotion as well when you’re rolling out the new price.
Make Sure Everything Is Working Properly
Nothing turns away customers like malfunctioning equipment that at the checkout. Inconvenient experiences stay in customer’s head so you don’t want to make it a regular thing. Keep your checkout equipment like POS systems and retail scales well maintained and calibrated. We highly recommend hiring scale calibration services in Queensland routinely in order to prevent errors.
In addition, you should also pay regular attention to the things like the lighting, air conditioning, refrigerators…etc. and ensure that they’re always well-maintained.
Train Your Employees Well
One of the reasons that people tend to prefer supermarkets over smaller stores is the level of customer service. Supermarket employees are usually friendlier, more courteous and go above and beyond to help out a customer. If you want your own grocery store to keep up, you’ve got to train your employees to be the same. This might require you to pay higher than the average rate, but think of it as investment for greater returns in the future.
In addition, it can be cost-effective to provide cross-training. Hence, whenever the store is packed, non-cashiers can also help out at the checkout lines.
Carefully Manage Your Inventory
Poorly-managed inventory is one of the common reasons for losing money. A lot of the time grocery store owners don’t spend time calculating how much product they’ll need beforehand. As a result, they may end up ordering in excess quantity and throw them out once they reach their expiration rate.
In order to avoid this, we highly recommend that you invest in proper inventory management software.
Even though supermarkets exist, small grocery stores can still make a good profit. Your success depends on how well you utilize the proper management techniques.