A local watch retailer has three locations in Dallas, one of which recently opened two months ago. All three shops have valuable locations near high-income residential areas and popular hang out spots in the city. Recently, the retailer has noticed a decline in the amount of customers coming into the store every day. Even many long-time patrons of the store are showing up less frequently. They claim that they can find these watches online and there is no need for them to have to drive to one of the store locations anymore.
In addition, customers that are coming to the store are becoming less and less likely to end up making a purchase. The store’s sales personnel are noticing that consumers are armed with significant cost-price information. Customers have stronger knowledge and preferences about watch brands than ever before. If a store didn’t have the specific watch a customer wanted, they often walked out without looking around at any alternatives. This increase in information available to the consumer caused the sales cycle to take longer with each customer, and made the process of trying to use personal sales tactics less effective.
Despite the great store locations, customers were simply not coming in as often. The newest storefront had seen the weakest initial revenue out of all three stores when they first opened. With total sales dropping over 12 percent for two years in a row, the retailer decided it was time to find an approach to get more customers to browse their products, close more sales, and compete with online retailers.
Start Script’s e-Commerce solutions helped this retailer do the following:
- Display the full range of the retailer’s total inventory from all three locations plus storehouses on their website
- Set up an electronic payment transaction system on the retailer’s website to make online purchasing easy and accessible
- Allowed customers to compare the details and specifications of different watches without having to hear a sales pitch
As a result, this retailer saw a large increase in sales and profit due to:
- Expanded virtual storefront presence took their market beyond just Dallas.
- Greater ease for customers browsing through inventory and making a purchase.
- Ability to compete with large online retailers and maintain retention of customers.
- Ease in customers sharing product information with friends through just sending a web link.
- Less need to hire and train sales personnel.
- Ability to refer in-store customers to the online store if they couldn’t find what they were looking for.
- Less in store product stocking required, saving shelf space and transportation costs.