Simple ideas can produce substantial pay offs for your business with little or no cost. In today’s uncertain marketplace it is important for your business not to appear to be stagnating – nothing deters a customer from a store more than the air of dereliction. The appearance of vitality is essential if you are to thrive in these difficult economic times.

As a retailer, your income will always be a function of traffic. More people attracted to your store to look at your merchandise means more sales and more revenue. Even if prospective customers don’t buy on their initial visit, if they encounter an inviting and stimulating environment the odds are they will return and your business will benefit from word of mouth promotion which again means additional future traffic and a continuation of the cycle.

So how do you capture attention and build loyalty when your potential customers are in recessionary state of mind? The answer is micro-marketing. Unfortunately when budgets are tight and getting tighter marketing dollars are frequently cut-back, accelerating the decline. But your business should never be allowed to wither especially when there are a variety of inexpensive, effective and FREE promotional possibilities worth exploring.

• Events that will attract local press interest and put your name ‘out there’ include sponsoring fund raisers for worthy causes, hosting & exhibiting local artistic talent and providing a venue for local fashion and jewelry designers to showcase their work.
  

• A visual revamp of your retail space will announce to the world that your store continues to evolve and will create interest. Bear in mind that visual merchandising starts on the street. A creative window display is the introduction to your business, it will get you noticed and draw customers when skillfully preformed, but tread carefully, if you don’t feel proficient in this area find someone who is or employ a designer. Shoddy window displays will work against you. At this time it is also a good idea to examine your in-store displays and fixtures. Upgrading scruffy retail displays is a must and needn’t break the bank. Check online for various options and price points and keep an eye open for local auctions and store liquidation sales which are (sadly) abundant right now.
  

• Finally take a hard look at your product lines and pricing strategy. Weight your inventory to reflect your target demographic and their ever-evolving circumstances. Faster moving items will be the lower price points – so perhaps grow your accessories merchandise. It is important to be flexible. Don’t go down with the ship because of a confined attitude limiting the kind of merchandise you deign to provide.
  

These are uncertain times for all businesses but the fashion boutique retailer has always been about change, change represents an opportunity for growth, further evolvement and efficiency but only if responded to wisely.

If you have any inexpensive or free promotional ideas that have worked well for your business and you want to share them with other independent retailers please feel free to post your comments.