What Do Apparel Stores and Home Decor Depts. Have In Common?
It might seem that apparel stores and home decor centers are worlds apart. One sells clothes and the other sells furniture and interior decorations. Do they have anything in common, besides the fact that some of those interior decorations also make use of fabric? Let’s take a look.
5 Things Apparel Stores Have in Common With Home Decor Businesses
Whether you run a home decor business or an apparel store, there are some things you have to keep an eye out for. Here are the common threads all retail businesses have:
- You have to keep an eye on your inventory – Whether you sell blouses and pant suits or sofas and lounge chairs, you have to keep track of your inventory. After all, it is your business. Lose it and you lose profit. Inventory tracking is very important to all retail businesses.
- Customer service is king – You can’t have a retail business without customers. Not only do you have to face your customers, render a positive service on the floor, and help them find the right product for their needs, but it will make your business more efficient and profitable if you have a system to help you manage that relationship.
- There are only 365 days in a year – Sure, all retail businesses have their own hours. Some are closed on Sundays while others are open from sun up to sun down. Still, you can’t change the calendar. Your fiscal year may be different, but time is not on your side.
- There is a point of sale – Even online, you have a customer checkout. Every retail business meets the customer face to face at one location, takes the customer’s money, and bags the product. How you manage your point of sale system says a lot about the efficiency and profitability of your retail business.
- Automation changes things – It’s the 21st century. A century ago, no one thought about computer-generated reports or automatic replenishment. Things were done on paper and there were built-in inefficiencies, no matter what type of retail store you operated. Today, you can’t be competitive without considering automation.
While every retail business is different, there are some things every retail business has in common. Whether we’re talking apparel promoting or home decor selling, your retail store is a business. It operates on a profit.
Make your store more efficient with a retail management solution.