Unlike in a retail setting where new customers walk in and out throughout the day, MicroMarkets are housed in workplace environments and rely on repeat business to generate sales. However, this should not be a cause for concern. Selling to repeat customers gives you the opportunity to get to know your customer base and develop a relationship with them. You are in a unique position to target their needs in ways that retail stores cannot and as such, can nurture them into loyal customers that generate revenue.
How do you create loyal customers? Customer Engagement, Trends and Cost – or ETC, are factors that influence customer buying habits and endear customers to become repeater buyers.
Engagement: Since face-to-face connections are limited in MicroMarkets; advertising, promotions and emails are key ways to engage your customers. Use digital signage to introduce the new products in the MicroMarket, email customers a discount code or incentive to purchase items in the Market. 365’s SmartHQ recently released Recurring Promotions to help make implementing and tracking promotions a seamless process.
Trends: Being health conscious is on the minds of most Americans these days. One of our customers positions themself as a “Healthy Choice Market”. Their customers walk in with the feeling that the Operator is helping them achieve their wellness goals when they do something as simple as purchasing an organic juice instead of the soda. This Operator taps into their customers desire for healthier choices. Another trend to tap into is grab-n-go. Identify the trends in your MicroMarket and cater to them.
Cost: Lowering prices to generate sales is a tactic many Operators employ that may at first cut down on the profit margin, but can ultimately encourage customers to buy more product more often, thereby increasing sales.
365 Retail Markets’ SmartHQ has promotional, inventory management and tracking features to help you optimize your MicroMarket to suit your customers’ needs.
Give us a call to learn how we can help you take your MicroMarket to the next level.