It’s no secret that retail stores are making big changes these days. With the competition to stay relevant and increase sales, more of them are remodeling their interior spaces or doing a complete reset of their store’s aesthetic. But what is the difference between these two?
Before you go ahead and knock walls for sprucing up your shop, it’s best to have insights into what each of them entails, why they can be beneficial for your business, and how they can ultimately help you increase sales. Below are some of the things that you need to know about them.
Know that both of them are focused on the same objective: attracting more customers. However, they are done differently, as renovation or remodeling is essentially breathing fresh air into your space and making everything look rejuvenated, trendy, and up-to-date. New colors are introduced, and the owner effectively creates excitement for their customers.
What to Know about a Reset?
This process is designed with the current operations and existing shelves in mind. A store reset is cost-effective and time-saving, and with the right hands, you will get an in-depth plan on how the products will be shown to the customer in a new light. They might use tag placements, aisles, shelves, and other displays that make the commodities stand out. This can result in a more hassle-free experience and maximizing of sales.
Other retailers might clear most of the products that are not being sold quickly and clear their inventory simultaneously. A mix-and-match of the items might also be involved to cater to the local demographics and get more customers.
A Guide to Remodeling
Taking the customer experience to a new level involves a higher budget and in-depth renovation of a store. This includes the entrance, windows, and doors since many customers judge the appearance of a shop and its overall traffic through the exterior. The walls should also have fresh paint and accents, and the light fixtures can affect the mood and ambiance of many shoppers.
You need a professional designer or architect that are an expert in lighting, and you need to obtain the necessary permits from the local county so the job can push through. See more about renovations on this page here. The aisles and tiled floors should be replaced when they are too worn out, and planning should be made to avoid delays in the shop opening.
Are there any Benefits to a Reset?
The reset process offers many benefits over full-blown renovation. For one, the former is less expensive and can be completed in a shorter timeframe, and it allows you to change the shop layout better to suit your needs without the need for major construction.
You’ll get a much-needed boost without spending a lot, and you don’t have to close your shop for weeks because the reset can be finished within 24 hours. Afterwards, customers will see your store in a whole new light, which can increase foot traffic and sales. You can also help attract new customers, as they will see that your store is up-to-date and well-maintained.
Why are Owners Choosing the Reset?
Grocery retailers face stiff competition around them. They only receive lower margins, so they need to rise above the competition. This is achieved with the right market information, new products, and insights.
Increase the Need for Impulsive Buying
The primary goal of many grocery stores is to get more customers to buy their merchandise impulsively. Others can see what they have to offer when strolling along wider and cleaner aisles and find extra items that are very useful to their homes. Bumping into strategically-placed products and buying them are considered to be a success for retailers. Resets are an excellent way to introduce new product lines to loyal customers, which can increase revenue in the long run.
They tend to Follow the Trends
Seasonal merchandise and goods are very important. Changing things up on Halloween, Christmas, Thanksgiving, and Valentines can be very handy when turkeys, candies, stuffed toys, and roses are in-demand. Getting them into a prominent shelf space can be very beneficial, along with the fruits and vegetables in season. See more about seasonal sales in this link: https://www.thebalancemoney.com/comprehensive-guide-to-seasonal-sales-1289892.
Which Option is Best For You?
A few key things to consider when deciding whether a store remodel or reset right for your business. Always think about the scale of the project since a major renovation is typically a more extensive project that involves changing the store’s layout. At the same time, a reset typically entails simply refreshing the existing space.
Allocate a budget that you can afford and determine whether you can recoup the costs of a remodel soon. Make sure you have the financial resources in place before starting to destroy walls and ceilings.
Also, think about the timeline for the project. A remodel can take several months, while a reset can usually be done in a shorter timeframe. Ultimately, the decision of which option is best for your business will come down to several factors, and you should only decide after careful planning and deliberation.