5 Steps You Can Take To Combat Inventory Issues

Rich Kehoe

Have you or are you considering scaling back your website & advertising due to product availability? Feeling as though you’re at a disadvantage in comparison to your competition?

I know it can be frustrating having these conversations, but that’s no reason to pump the breaks. Your foundation for the future begins now, despite longevity in the market, or the size of your store, it’s time to adapt.

I'm Rich Kehoe with Dovr Media and today we’re going to cover 5 steps you can take to combat inventory issues while maintaining a strong digital presence.

What retailers can do in the industry to combat inventory issues while maintaining an online presence?

 

Having An Excellent Website That’s Personalized To You

Brand identity is important. You have a story and style that should be reflected in your new flagship store, or your website. A website has to be easy to use, have up to date pricing, and excellent SEO..which helps you appear higher on local organic searches. You don’t need to be the cheapest store in town, people in the market just need to find you. Your website is not only there for ecommerce, it drives store traffic and conversations for your sales reps.

 

Leverage In Stock Inventory On Your Website and Forecast What’s Soon To Be Coming In.

Customers have been a bit more accustomed to waiting, so If you can do this and get the word out, you’re a serious contender in the marketplace ...which brings me to my next point

 

Keeping It Simple With Marketing, But Continuing To Do So.

Retailers need to market online. This is where you’re able to pick off local shoppers at the beginning of their search and be reactive. It’s one of the greatest struggles for brick and mortar business’. There’s a misconception that brick & mortar needs to spend the capital as national brands do, and that’s simply just not the case to yield results. Speaking of results, you can track your spend down to in-store conversion. The days of consistent weekend promotions are put on hold, at least for now.. So it’s important to tell your story. Whether we like it or not, we need to change and focus on what’s happening online, an overwhelming amount of search begins there.

 

Using The Internet To Generate Leads

Retargeting Campaigns on Social Media & Google Ad Words for example bring people to your website or qualify phone calls to the store. Your website should have multiple lead generators to follow up with these customers. Your budgets are specifically going after shoppers who’s search aligns with purchasing in your local market. Applications like Facebook Shop & Live are excellent resources to explore as well.

 

Doubling Down On The Shop Local Initiative

Retailers have the ability to offer an experience unlike any other. You give customers that certainty before purchase sealed by a personal engagement. Even if a requested item isn’t present on the floor, you know your stock and manufacturers to pivot the conversation. These first 4 points are highlighted by this. The last year and a half has been unprecedented for the industry, and it’s time to evolve and keep moving forward. For those who follow this blueprint, there’s a lot to look forward to. Despite how long you’ve been in business, now is the time to set the foundation for years to come.