Thinking about transforming your retail space can be a daunting task. There is so much to consider from understanding what isn’t working now and how to work towards resolution – logistics, designers, contractors are just a few for the list.
Fears of lost revenue during the work as well as the concern of not getting exactly what you wanted can all add to the stress and may even derail your best intentions of improving your customer experience.
Return On Investment
How will you know if it has all been a success? To understand success is to understand your position now and your current revenues. You can expect to receive at least a 10% return on investment after your renovation.
In the new online world of shopping, where etail is finding strength over retail bricks and motar, differentiation on the high street is key. This is not just about product range – it’s a holistic approach to your space as a ‘concept’ to deliver a unique customer experience. Those retailers who choose to engage a space designer could expect to see a return on investment of 22% – transforming the bottom line as well as the space!
Engaging the senses to create a unique customer space for your brand is essential. Rcent studies have shown that atmospherics are perhaps the most single most important environmental factor that converts into purchases.
So what works best? There is no one size fits all solution here – it depends on your target audience, but the use of colour, lighting, music and even smell can have a profound effect on customers.
Embrace new technology in-store
In a report from Merchant Warehouse, it showed that close to 70% of customers research their chosen items online before visiting the store. Google also found that 84% of smartphone shoppers use their devices to help them shop once they are in the store.
A recent introduction to the high street in the US has seen bridal boutiques using a ‘virtual’ fitting room to cut down the time and hassle of trying on endless numbers of wedding dresses to narrow down favourites. This speeds up the whole process and reduces queues as well as allowing many more ‘fittings’ a day for the store.
To get the most out of your renovation and receive the maxiumum return on investment – it pays to use professionals to turn your vision into reality. At Acopia, we offer a complete end to end solution from initial space design, complete project management, as well supply of all shop fittings and install. We know downtime is not good for business so we work hard to ensure you are up and running as quickly as posible.
Contact the team at Acopia and see what we could do for your retail space.