What is Brick and Mortar mean?
A Brick and Mortar store is a company or retail outlet with the minimum of one physical store. Traditional stores you will see in your local shopping mall are called brick and mortar stores for instance.
The costs of running brick and mortar stores are much higher than when your company is merely an eCommerce company the need for brick and mortar stores to get the best conversion rates is increasing. In reality, in America, in the USA the sales from offline stores are 10 times more than the size in online purchases which is why there exist numerous reasons to this that we’ll explore in the following.
A lot of customers still prefer brick and mortar store , where they can actually see the item prior to purchasing it, and also seek for help from the physical instead of virtual assistants.
In reality, only 10 years ago, you might have heard experts calling for closing of brick and mortar shops. They were referred to as old-fashioned and the advent of internet-based shopping and e-commerce was expected to shut down every physical store.
We’re aware that this isn’t the situation. Customers have turned to the internet for information and research and often visit an actual store which is brick and mortar shop to make the purchase.
What is Brick and Mortar?
The phrase “brick and mortar” is becoming more popular in the modern world because consumers require ways to differentiate between retailers operating offline and those which they can find on the internet. Although Amazon can be described as one of the “online” store, a brick and mortar shop is one you are able to actually visit physically.
Like every store brick and mortar stores are focused on providing a fantastic customer service and sales. However, unlike online stores it is possible for brick and mortar retailers to establish an intimate connection with their customers. Some retailers may also have online shopping sites as well, however they keep their physical location to allow for interaction with customers.
When you shop in a brick-and-mortar shop, customers have the opportunity to engage with the items they’re interested in , and also talk with sales representatives as well. Take Walmart for example, you can buy online, however you will experience a completely different experience when you go to a physical store.
Online businesses may lower overhead costs when as compared to a traditional brick-and-mortar shop however, there are many advantages of having a physical store. If you have a brick and mortar store, you are able to show your customers in person the quality of your merchandise.
Although the need for an online storefront is increasing and people visiting physical stores is decreasing however, there are many opportunities to have physical stores if you follow the correct business strategy. For example, retail locations like supermarkets that provide customers the items they require immediately can be a great idea for stores that are physically located.
The Costs of Running a Brick and Mortar Store
As we’ve mentioned, it’s generally less expensive to operate an online shop as opposed to a brick and mortar store, as there aren’t as many costs to consider. There’s no need to be concerned about electricity costs for operating your business, or real estate when you’re on the internet.
The price of brick and mortar stores is contingent upon what size the shop and its location, the type of business you’re looking to establish, as well as other aspects. It is suggested by the Small Business Administration suggests that you can open a small business starting at as low as $3000, however there’s no set price for all.
In order to determine how much money you’ll need to begin your company, you’ll need an idea. Study your industry and consider the type of startup expenses you’ll face along with the operational expenses that are required monthly. The plan also outlines for the business how long it’ll be until it reaches”break point even. “break point even” level. In addition, a business plan is crucial to gather all the data that you require for sales. But, it’s also essential to be able to appeal to lenders as well.
When you’re calculating the expenses operating your shop, you should overestimate. There’s a high chance you’ll overlook something on your list of items you must have that could increase your expenses, so saving some money is usually an ideal option. Also, expenses that weren’t anticipated are likely to come up when you run your business.
Begin by determining your initial startup costs , and then think about the type of research you may be able do on competitors for more information. Understanding the costs other companies face when they establish a physical presence can assist you make more informed choices. The most frequent starting costs are:
- Lease: Unless you own a physical store where you could operate your store then you’ll need to lease an area. The dimensions of the space, the amenities it provides along with the location in which you’re selling can all affect the price here.
- Licenses and permit costs: Online shops can also require licenses and permits in relation to what they offer. But, it’s more likely that you’ll require a greater variety of documents when you have an actual startup. It will require documents such as the certificate of occupancy as well as the seller’s license.
- Furniture for your store: Think about the things you will see when you step into a store. There’s more than just empty space. You’ll need to think about display racks as well as furniture, cases and other items are required to run your business. What are your counters for checkout like, say, or storage spaces?
- Inventory initial: If you have a physical retail store, you must have a full inventory of products on the day of opening and also have enough inventory to last at minimum four months. If you’re not sure about the cost of your goods and you don’t have an estimate markup test to verify the prices you receive at your wholesalers.
- Technology and equipment: More than just the usual store fixtures at your store, technology and equipment let you make everything operational. There are displays to display advertisements, web access to interact with online users computers, as well as the point-of-sale systems. There’s a possibility that you’ll require additional technology according to what you’re selling.
- Business insurance All businesses should have insurance to safeguard them from various kinds of legal problems. But, you’ll require more insurance, as well as different types of protection if you’re operating an online shop. You can choose to include worker’s comp or property and liability insurance.
- advertising: The chances are that you’ll need assistance in educating people about your business. Don’t fall into the trap of thinking you can make money from word-of-mouth alone or be losing lots of money. You should think about ways you can promote yourself offline and online.
- Maintenance and cleaning: Yes, you must keep your store tidy. This typically means hiring professionals to clean the entire place for you. It’s possible to pay for these services once or twice often, or have a few employees available for cleaning , if you’re aware that you’ll require more frequently.
- Webhosting and other online sources: Even if you’re operating an offline shop but you shouldn’t count on it alone to generate sales. It’s essential to establish an online presence that includes plenty of additional social media pages and email marketing, web hosting, and many other costs to be paid for. The more sophisticated you wish your website to be the more you’ll have to pay.
- The signage Signage in an offline store does not only consist of the signs that are in your building’s exterior that show your name. There may be signs to inform customers where they should go, or to inform your customers what items are on display in every aisle.
- Decoration: To make your store appear attractive you’ll need to invest in things like shelving, painting and even beautiful flooring for customers to be able to see. The more appealing your store is and the more professional it’s going to appear.
- Services for professionals: This area is about many different expenses, from things like paying your employees to collaborate with you, or having a lawyer assist your business with various kinds of documentation. It is also possible to hire an accountant to manage things such as VAT and taxes in your bank account.
To top it all off you might be able to think of other expenses you should think about too, including alarm clocks for time, cameras calendar books, office equipment as well as a myriad of other items. It is possible to collaborate with a graphic designer for branding and designing a brand new logo.
The cost of operating expenses such as electric, filling up your supply chain and paying your employees could take a huge chunk of your budget at least until you are making some decent profits.
Top POS Solutions for Brick and Mortar Stores: Shopify POS
Although it’s most famous for its capabilities in e-commerce, Shopify is also a formidable force for brick-and-mortar market. Therefore, to an degree, Shopify is an ultimate commerce platform.
The company’s online stores are based on the Shopify platform bricks and mortar shops rely on an app known as Shopify POS.
However, don’t make any mistake. There may be two distinct applications but the backend is identical. That’s why Shopify POS is connected to the entire Shopify ecosystem.
This lets you set up an additional brick and mortar shop to complement your sales channels on the internet. If you are using Shopify to sell products on your website, and also Facebook such as Facebook you are still able to make use of Shopify’s Shopify Point of Sale system to perform store-to-store transactions.
Shopify also syncs the two inventory in real time, which helps you keep track of the number of items across all the sales channels.
And speaking of which, Shopify POS can accommodate an unlimited amount of products and categories. If you already have a large assortment of products you can use Shopify’s online platform to import them all in the bulk using CSV. The entire inventory management framework here is designed to provide all the functions you could require through a clean and simple interface.
It’s important to note the fact that Shopify POS doesn’t run entirely via the dashboard on the web. Shopify provides an array of Android and iOS apps that let you sell from anywhere anytime. If you decide to install a full POS system for your brick and mortar shop, Shopify POS accommodates a large variety of retail equipment and software.
In the event that you employ employees to assist you in sales, it’s feasible to create multiple accounts from a single admin profile. You can control the privileges of their systems and also keep track of the individual levels of performance.
Apart from inventory and staff, Shopify POS lets you handle your clients according to their needs. It includes a great customer profile , where you can record their details and keep track of the transactions that follow.
The one thing that truly differentiates Shopify POS apart from the other POS apps is its wide range of integrations. You can name any popular sales software you’re aware of and you’re sure to come across the Shopify app version.
It means you can implement virtually any other backend feature. It’s up to you.
Learn more information about the Shopify POS system that is ideal for brick and mortar businesses by reading our in-depth Shopify review of the POS below. .
Shopify POS Pricing
- Lite PlanCosts 9 dollars per month, plus the Shopify Payments credit card in-person costs of 2.7 percent plus 0.Cor.
- Simple The Shopify Plan The basic Shopify planCosts $30 per month, plus Shopify Payments credit card in-person costs of 2.7 percent plus 0.C/.
- Shopify Plancosts $79 per month , plus Shopify Payments’ in-person credit card charges of 2.5 percent + 0.C+ 0C.
- Advanced Shopify Playcosts $299 per month. This includes Shopify payments in-person credit card costs of 2.4 percent plus 0.4%, and an online store.
- Shopify Plus – Special quote for large enterprise features.
Top POS Solutions for Brick and Mortar Stores: Square POS
Contrary to Shopify, Square started as an online payment processor. But then, at some point it decided to push its offerings two levels higher by introducing both eCommerce as well as POS system.
In the end, when you consider it these were deliberate moves intended to gain more customers for Square’s payment system. In addition, to make the experience more sweet its eCommerce as well as POS platforms are totally free. Therefore you will not pay one cent for subscriptions.
The only limitation is that you must utilize Square’s payment options to complete your transactions. It’s not bad I’d say in light of the fact that Square offers fairly reasonable processing rates. Additionally, it accepts an array of electronic payment methods, such as Apple Pay and Android Pay.
The thing is, Square does not offer just one POS solution for brick and mortar stores. While there is an Square Point of Sale application but it’s been discovered that Square has created three other POS solutions: Square Appointments, Square for Restaurants (read our Square for Restaurants Review) as well as Square for Retail (read the Square for Retail Review).
The Square Point of Sale application, to begin with is the main brick and mortar system in this. It includes the fundamental capabilities you’d require to manage the basic brick and mortar shop. Expect features like offline processing of cards as well as email and SMS receipts, refund capabilities for payments discounts, tips handling and inventory management and kitchen ticket printing receipt printing, etc.
Based on these capabilities, it’s clear it’s true that square Point of Sale application can be utilized on almost every type of business. However, if it isn’t able to meet your requirements, explore other applications to get specific features.
If your brick and mortar shop is very large such as you may want to use Square to Retail instead. This is the Square POS application that is designed for retail establishments that have huge inventory.
It’s more refined variant of the square Point that is part of Sale app which comes with more advanced brick and mortar features. It includes things like employee management and multi-location inventory transfer vendor management purchasing order management, profit tracking and the ability to itemize exchanges.
It’s pretty cool Very impressive, I’m afraid to say. However, it is true that the hospitality industry would be struggling to incorporate such a system. Therefore, Square introduced Square for Restaurants to provide brick-and-mortar establishments such as bars, coffee shops food trucks, bars and more.
The app itself has specific features like the ability to customize table plans and menu support, as well as coursing and order tick handling as well as tip management.
The last item to be mentioned will be the Square Appointments, which comes in useful for managing your brick-and-mortar store’s appointment schedule. The app is a Square POS solution for businesses that provide services that allows customers to reserve ahead.
Take a look at our comprehensive square POS analysis for more details.
Square POS Pricing
- Square Point of Sale is always free. It has transactions rates of 2.75 percent on Readers and Stand payments, 2.6 10% + 10C/ Square Terminal payments and 2.5 10% + 10C on Square Register payments.
- Square Appointments is available for free to people, and then the cost is $50 per month for establishments with 2-5 employees. $90 for establishments that have 6-10 employees. The rates of transactions applicable to these services are 2.75 percent, 2.5% +10C/ respectively. 2.5 10% + 10C/, respectively.
- Square for Retail costs $60 per month for each brick and mortar store that has a single points of sale counter. However, if you require additional registers, Square charges $20 a month for each additional register. The rates for transactions are 2.5 percent plus 10C/.
- Square For Restaurants costs 60 dollars per month for a single register on the restaurant’s premises, and an additional charge of $45 monthly for every additional register. The transaction fees are 2.6 10% + 10C(or.
Top POS Solutions for Brick and Mortar Stores: Vend POS
While a variety of cloud POS systems are now able to maintain the processing of transactions even when they go offline, none are as good as Vend POS. Since it has been the initial EPOS service to take advantage of HTML5 to cache offline transactions, Vend POS is undeniably the top choice in offline management in-store.
This alone makes it incredibly efficient in in-person sales that are mobile. You are able to move around easily and make trades without fretting about internet connection. The system simply relies upon it’s local cache when offline and syncs the data in the same manner when it connects to the internet.
But brick and mortar isn’t the only kind of store that is supported through Vend. They also have an e-commerce platform that is decent, for those who want to take your business further using an online store that is a second option.
And , yes, Vend POS and its counterpart ecommerce component are being updated in real time. You can control both efficiently from Vend’s online dashboard. Brick and mortar purchases, on contrary, are assisted through Vend POS’s iPad Version of Vend POS.
When combined with the iPad application and the backend system will give you all of the EPOS features you’ll need to run the brick and mortar shop. If you want to arrange your inventory, for instance Vend POS is a good choice. Vend POS system allows you to import large quantities of items and also modify the attributes of their companions.
If you are able to expand your business then Vend POS can help you grow your business. Vend POS system is capable of integrating employees you could bring in. You could also use the information provided by the analytics to determine their individual cash management habits as well as the level of sales.
To top it all off to top it off, to top it off, the Vend POS system also extends its tracking capabilities to customers. Therefore you can create specific customer profiles that track their spending habits and, in turn, give the best ones a reward with the Vend loyalty program.
To learn more regarding Vend POS, proceed to our thorough Vend POS review here.
Vend POS Pricing
- Flash LiteA single account is $199/month if you’re charged monthly or $99 per month when your subscription is annually. The additional units will be charged $59 per month for monthly subscriptions or $49 for monthly annual plans.
- Pro Pro One Register is charged $159 per month, for subscriptions that are monthly or $129 for monthly annual subscriptions. Each additional unit is charged at the same amount that is that of the Lite plan.
- Enterprise Enterprise This one comes with special quote for large brick and mortar businesses.
Top POS Solutions for Brick and Mortar Stores: SumUp
Okay, SumUp might not be as well-known like Shopify POS or Square POS especially on the US. Buthere’s something that makes it different It’s free.
If you’re in Europe I’m sure that you’ve heard of it. SumUp has been, in actual fact among the top frequently utilized EPOS systems across Europe- and has over a million merchants using it.
The footprint of the company has expanded up to 31 countries. It means you are able to travel to around 30 additional countries while still having a your shop. However, it’s just for a few days, as SumUp’s merchant accounts abroad are only for a limited time. The privilege, for your convenience is limited by the countries listed that are on SumUp’s list of operations.
It’s not the only unique thing however. Incredibly, SumUp is a completely free system for POS equipped with functions that can give premium options a run for the cost.
As soon as you install its POS application onto the Android and iOS phone, it will be able to see that SumUP is fully-equipped POS system. For instance, you can utilize the app to add your own items and modify their images price, descriptions, and descriptions and categories.
It doesn’t stop there. If you’re selling various variants of the same product, SumUp is dynamic enough to allow multiple variations per product. It lets you define their distinctive attributes such as size, color, etc.
The most remarkable features become apparent as you begin to process transactions. It’s designed to supply merchants as customers with a simple and flexible transaction processing.
One of the most notable features that is worth mentioning is the Quick sale function that saves you the hassle of ringing up every purchase made by your customers. Simply type in the amount and it’s done! Your payment is processed.
Customers are able to use a variety of payment options, because of SumUp’s omni channel suite. For starters, they can utilize any major credit card because SumUp can read both EMV chips as well as magnetic stripes.
Another option is to pay by SMS. It’s just that SumUP lets you make payment links, and then forward the links to your customer’s phones. When the SMS is sent, all it takes is one click before the transaction is done.
Incredibly, you can also remote accept CNP payments at your brick-and-mortar store. SumUp is an online terminal that you simply input your customers’ credit card information to make transactions.
To know more about SumUp read our full SumUp review here..
SumUP POS Pricing
- SumUp is always free and has a an unbeatable transaction rate of 2.65 percent.
Top POS Solutions for Brick and Mortar Stores: Bindo POS
Bindo POS was initially designed to aid smaller brick-and-mortar shops be competitive with big corporations. However, this was following the initial Bindo software had been used by retailers as an all-inclusive software for managing inventory.
With such a reputable name it’s only natural for to expect the Bindo POS system to offer strong inventory management functions. This is the kind of solution that you should choose to get the best features to manage your bricks and mortar store’s inventory.
In reality it’s not even necessary to sign in to Bindo‘s online dashboard to modify your inventory. Bindo’s POS system attempts to simplify things by providing sophisticated stock control access through mobile versions.
Thus, you’ll be able to edit and modify a vast array of parameters of your product in the field. However, this isn’t all. Bindo POS also lets merchants organize purchases and establish additional retail departments through their mobile apps.
Even though you can do everything you need with a basic bricks and mortar design However, Bindo is a better choice. Bindo POS platform is more effective when you’re running several stores at the same time. It’s possible to use its robust support framework to connect several stores and monitor them all from one central dashboard.
While you’re at it you could also shift items between stores in order to even out the numbers of stock in your system.
I’m not saying that it isn’t, but. Bindo isn’t exclusively about inventory management. Another function that has been optimized for this Bindo POS system is its customer information management. It stores all relevant details that will help you keep track of your customers according to their contact details, orders history, days of visits to the store and reward points, among others.
And to add more to top it off, to top it off, the Bindo POS system has an analytics tool that keeps track on the key metrics that impact the brick and mortar shop. This means it can provide exact data on sales figures for every store as well as employees’ performance and tax summaries, top-selling products and more.
Find out more details on Bindo POS from our comprehensive Bindo POS review.
Bindo POS Pricing
- The brick-and-mortar business with 50 to 1,000 products is charged $89 per month for a Bindo POS register. Each additional unit will cost you around $49 per month.
- Hosting 1,000 to 10,000 items On the other hand it costs around $149 per month.
Ecommerce vs Brick and Mortar
Ecommerce as well as brick and mortar stores could incorrectly be classified as one. People outside of the industry will call them “retail while brick and mortar will be viewed as one thing. Before we go into brick mortar and mortar and the evolution that it brings, it’s an excellent idea to first highlight the differences between it and the e-commerce.
There are a few similarities between them but it’s essential to recognize the major distinctions between the two:
Location as you’re probably aware, an online store does not possess a physical storefront since the items are sold using an online shopping cart and the goods are shipped remotely to the purchaser.
Brick and mortar businesses is a physical shop or as a variety of stores. It’s very uncommon to find one without the other and it’s best to run both in order to maximize the sales.
Transactions The traditional method of purchasing goods from brick and mortar shops is with cash or credit card. But, more and more are required to change to ever-changing times and the digital wallet’.
More and more customers are making use of Apple as well as Android Pay to buy goods retailers are forced to change.
Of course, online stores cannot accept cash payments, however they can accept online payments through PayPal or even bitcoin, so there’s the possibility of flexibility for both parties.
Marketing Marketing – when is it about marketing, ecommerce and brick and mortar shops are very different. The brick-and-mortar stores employ traditional methods such as leaflets as well as radio, television billboards, newspapers, and billboards.
On the other hand online stores promote their products through digital marketing, which makes the use of social media, paid searches, and email.
Brick and mortar retailers aren’t quite up to speed with digital marketing, and there are a myriad of ways to use online marketing for their benefit, including data collection, which we’ll cover later.
Human interactions human interaction cards abandonment rate range from 80 percent in the event that shoppers are online, there’s no one available to help answer any question or ease the anxiety. It’s not the case with bricks and mortar businesses because staff members are able to provide assistance to clients in order to answer any concerns.
It is likely to achieve a more successful conversion rate using physical stores than of an e-commerce store.
Costs When it comes to costs, it’s very dismissive to state the brick-and-mortar shops will cost more than the cost of setting up an online store, but this isn’t the complete truth.
When you start an online store with a platform like Shopify with a hosting service and a domain could be reasonably affordable, however there are expenses that could not include in the calculation.
Costs of eCommerce can include but aren’t restricted to:
- Acquisition of customers
- Customers lose their customers to competitors
- Platform package
- Expert help (design, development)
Store expenses for bricks and mortar could comprise:
- POS software
- Property Tax
- Warehouse of inventory
How Mobile is Driving Brick and Mortar Stores?
Make a bet on your mobile site a study conducted by the mobile-based software developer SOTI found the following: 90% of consumers were more likely to buy in a brick and mortar shop if it offered an online shopping experience that was mobile.
The concept is that if you give them a pleasant experience while traveling, they will likely visit your shop , if they’re nearby.
If you’re providing an excellent mobile experience online the customers would like to see it replicated in stores. The same study by SOTI revealed that 94% requested more mobile-friendly technology like interactive kiosks as well as barcode scanners, and more. Another option is to make sure that customers have access to wifi within your shop.
Search for location-based adsIt’s not a surprise that to boost sales at your physical store , you’ll need to invest in local marketing. It’s long been the case in which you’d put an advert in your local newspaper or go out to flyers. Most likely due to the fact they are both expensive and time-consuming.
Here’s a list local-based advertising strategies you can test fast:
- Google Adwords Google Adwords HTML0 targeted by location is a great way to target those who matter to you locally. This is something we discuss in greater depth below.
- Yelp Based on the more detailed ramblings, eight-in-ten the people who use Yelp are planning on purchasing something and it’s an excellent source for local businesses.
- Foursquare Foursquare HTML0 Foursquare lets you select your target audience based on key aspects like taste preferences or demographics, as well as the history of your visits. It allows you to reach over 150 million unique users on their mobile application as well as on the internet.
- Groupon The American company does a great job connecting its customers with local businesses. The company has more than 50 million members.
- Living Social – Similar to Groupon but not as well-known, Living Social does the same task of providing local deals. It is available offered on a variety of products , and it is often mistaken for a simple service
Utilize paid searchPay-per-click is often underutilized in the realm of bricks and mortar. It’s an effective method to increase awareness for your business. It can be added:
- Telephone number
- Hours of operation
- Distance to where the shops are (on mobile)
Additionally, you could also convince customers to set up a reminder whenever they’re in your area in order to increase footfall.
If it is done correctly, this can be a huge impact on the physical location of your store. The advantage of local-based AdWords is the fact that you pay only for clicks that are within the area you live in and this keeps the price at a low level. Begin your journey with Google Adwords now.
Make your store showroom In June the previous year, Shopify published an article on their site about the concept of show rooming. What is show rooming you might ask? Well, it’s this:
Show rooming happens when a potential customer visits your shop to view your products, but then purchases it on the internet at home.
People want to feel and feel the product before buying and maybe even talk to someone in the process. But, since many products are cheaper online, they will then buy it online. Your physical store is the showroom to your website store.
It is the idea that you need to provide a pleasant customer experience when they visit the shop, and that includes:
- Wi-fi connection let free wi-fi inside the store to ensure that customers can browse your store to do research on products. Perhaps you could request an email address or phone number to keep them informed with special offers and discounts
- Shipping to local addresses offers free shipping to your home. This means that they won’t need to worry about getting rid of the product today particularly if it’s large and gives them something to look forward to.
- Reviews Let reviews be easy to display on your website to allow them to make an informed choice
Make use of Mobile payment technologies Today, we live in an time when the human touch is slowly becoming the past. If you visit your local store and you’ll find people making use of self-checkouts. Visit your preferred e-commerce website and you’ll be greeted by live chat representatives or even chatbots.
Similar to what is happening today in bricks and mortar stores and can be accomplished through mobile payment technology.
Companies like Scandit have revolutionized brick-and-mortar stores with mobile barcodes and text, as well as technology for object recognition and the augmented reality experience for customers.
The technology has been employed by big retailers like Louis Vuitton, Macys and Clarks
The benefits for your business can be:
- More choices Customers don’t have to take their items to a cashier, which saves the time of queuing, resulting in the most enjoyable shopping experience
- Staff reduction As a business you’ll pay less for employees since now the control is with the customer to carry out the transaction
- Equipment costs are reduced. This means that less amount will be used on equipment for checkouts, like barcode scanners and tills since customers will be able to make the transaction using an electronic device
digital receipts Mobile smartphones and electronic wallets are becoming more essential. More than 250 million users are, for instance use Apple Pay and transactions are increasing each year by 500 percent.
Thus paper receipts are now no longer a necessity and consumers want the convenience of receiving digital receipts. On these receipts , there’s a lot of opportunity for you to announce discount offers, reward schemes, or even request feedback from your clients.
Shopify POS is an amazing tool that lets you provide digital receipts to customers.
Rewards in-store In-store exclusive rewards for customers is an excellent way for them to be enticed to come visit your store. Some suggestions for rewards include:
- Discount when they “check in with Facebook. Facebook
- Coupon code for vouchers in-store only
- Prize draw
- Concierge service, for example, free home delivery
How to Stand Out With Your Brick and Mortar Store
In addition to taking advantage of mobile technology, there are other great ways you can make your store distinguish itself from other stores This includes:
- invite customers and guests to your events Eventbrite has published an excellent piece on how the t-shirt company and tote bag manufacturer Bad Pickle Tees used their website to invite attendees into their events. They have integrated their Eventbrite listings on their site so that visitors to the product’s page will be able to view the dates of the events they attended and book a space on the page. Customers may want to view your products first, and an event is a wonderful method of achieving this. Furthermore, they’ll have to provide their email address as well as their phone number to register for the event, so that you can advertise to them in the future.
- “Click and pick up” According to Econsultancy 44% of customers are more likely to buy an item if they are the possibility of obtaining it from the retailer. This is a double benefit since the customer will be capable of picking it up at their convenience. The majority of deliveries occur in the normal working hours, and the recipient might not be at home. For businesses you get the chance to speak personally with the client and then upsell them additional items.
- Exclusive in-store sales Most people are used to finding deals on the internet for items, rather than in-store. But, offering a lower price in store isn’t necessarily an ideal idea. There is no cost for shipping, or hiring an employee to deliver and pack that product, so you can afford to provide a better price in your shop. Send an email out that includes a deal exclusive to your store. If you’re tech-savvy, know-how, you can develop an “Store locator” so that people can locate the nearest store.
- Connect your sales online and offline to slightly be a bit contradictory, it could be beneficial to sync prices you see between your offline and online stores. If, for instance finds a deal online but you do not price exactly the same as in store, you may run into an issue and possibly damage the customer relationship. Maintaining consistency and transparency to your business is crucial.
- Create an experience in the store The expectation of retail stores has increased dramatically in recent years. Stores aren’t just physical places to store your entire inventory.
- Fans turn into shoppers It’s simple to send an all-inclusive email, or even offer an ordinary loyalty card, but think of ways to personalize the message for your customer. Utilize your CRM system to record the interests of your customers and tailor these based on that.
- Host speakers There is no need for everything been a flash sale in order to bring in customers. Are there local authors, famous people or guest speakers in your area that could visit your shop? Working with an author to arrange an author’s book signing that is in line with your store’s market can be a fantastic starting point.
- Pop-ups The pop-up store business has grown to more than $10 million. They’ve created excitement because they are regarded as extremely exclusive. It is possible to release an entirely new line of products , but only in a limited time period to generate attention.
- Reward sales personnel The biggest advantage of brick and mortar shops instead of an online shop is the human interaction. The physical store lets you to add a face to your brand. Millenialls want to know the history behind your business and would like to invest in it and its products. It is therefore essential that your employees are informed on the process that brought you up to the point you’re in now and the purpose of your business. At some point, you could reward your sales personnel by offering vouchers and commissions based on the performance of your staff.
- Tech is your best friend Customers are becoming technologically savvy every year, which is why making sure that your business is at the forefront of technology in retail is extremely crucial. We’ve touched on in the past, these could be anything from to:
- Screens with digital images Add digital screens in your shop. These screens can show the most recent specials, let customers browse the items, check the availability of stock or request assistance.
- Discounts on smartphones Get customer’s phone numbers whenever they purchase and then send coupons and discounts to their phones
- point of sale – Use iPad POS to ensure that your staff members can carry the cash register directly to customers. This means that they can buy the product in a hurry and also receive a receipt while they are in the store.
- Beaconsa beacon is tiny low-powered transmitter that is equipped with Bluetooth that sends messages based on proximity to the person. If your store is equipped with an app, you can target phones with Bluetooth capability by sending them promotional messages. As per beaconstac’s data, 80-90% of Android users are only using the app once before removing it. This technology can target your customers to use the app, and also take advantage of the offers you offer.
How Point of Sale (POS) is Revolutionizing Brick and Mortar Stores?
If you’re looking for an option for POS for your brick and mortar shop it could be confusing. There are many companies currently offering amazing options.
Below are five features that we think are crucial the most. These can aid you in deciding which POS system to choose.
Lookup of products
A reliable POS system will allow you to issue a quick command that will display the most popular items.
This will speed up the process for both the customer as well as staff members. It also increases the satisfaction of your employees because it makes their work much simpler. This kind of feature can be managed via vendors..
Multiple payment methods
As we’ve discussed earlier, the ability of your customers to make payments using various methods is extremely essential. Choose a POS that supports mobile payment as and also the capability to split the payment using various ways.
Imports of bulk goods
The availability of a POS program that lets you upload multiple products at the initial instance is a major drawback. If you’re a company with many products , manually uploading them all one at a time can be extremely time-consuming.
Customer information that is searchable
Being able to search quickly for information about customers when they enter the store or make contact with you is crucial due to a variety of reasons, including:
- History This lets your customers return products if they’ve lost their receipts or to tailor them according to purchase history of the product.
- Properties You might want to modify your customer’s information for example, a change of address, name, or number
- Loyalty is a way to quickly join a client to your loyalty program, so they receive exclusive promotions
Reporting is crucial to measuring the success of your business, which is why the use of an POS system that can provide the following reports is essential:
- Dashboard – If you’re operating a brick and mortar and you have an online store, time is precious, and having a dashboard on which allows you to view all important data is crucial.
- Product – decide on your products by observing those that are selling well, and which ones aren’t
- Employee Which of your employees are performing very well and who’s not? Recognize hard-working employees to improve employee satisfaction.
- Customer Check out your most loyal customers and haven’t visited in a long time to help you formulate your marketing messages
- Custom Find the POS system that permits you to design your own customized reports
Pros of Brick and Mortar Stores
Instantaneous purchase of products from the store offers customers instant satisfaction. If you’re buying from an online retailer, you must rely on delivery, which can originate from a third party which isn’t directly representing the store’s ecommerce site.
Test before you purchase Try before you buy you cannot replace the idea that you are able to test things before buying it. People these days expect no-cost returns on the internet and might purchase the same item in a variety of sizes in the hopes of returning at minimum one.
This could impact the profits of an online store since you’ll need to cover the initial shipping costs of the item.
Social occasion shopping at an online shop can be lonely and doesn’t offer the social aspects that brick and mortar store provides with your friends.
Customer experience Customers would like to feel that they’re receiving a special experience every time they shop an established brand. Retailers online can be unable to make this happen even with a distinctive website or an app. If you’ve got a connection directly to customers who are in the area, then you are able to make more memorable interactions. You can even develop applications for mobile devices that create vouchers for those who come to your location.
Relationship building when shopping online, the majority of (if there is any) the communication you have with customers is via online chats, email, or other social media that doesn’t permit you to interact directly with a person.
A face and an engaging story can make customers believe in your brand, which could turn them into loyal customers.
Increased sales The result is that it’s not surprising that having multiple channels where customers can use to purchase items could result in a rise in the sales. There are some buyers are hesitant to purchase on the internet and may be seeking brick and mortar stores.
Shipping is not included -shipping products can be a costly business. If you don’t have your own shipping team, the responsibility of your product is in the hands of a third-party courier. This is not only costly, but it doesn’t include returns and broken or damaged products which need to be redeliverable
Security in-store transactions are more secure than e-commerce stores. The threat of hackers and suspicious activity is often a regular phenomenon in the world of online shopping. If there’s an attack on security, this could discourage customers from returning to the store, however this is more likely to occur with physical stores.
The customers feel powerful: In a physical store your customers have all the power. Although this may be true of an online store too however, online stores do not permit customers to reach sales representatives for help in just a few seconds. The online store doesn’t permit your customers to grab an item and look it over.
Returns are easier: If your customer has problems with the product you’re selling it is easy to return the item to your brick-and-mortar store. This reduces the length of the refund and return procedure, which means you’ll be able to organize your finances more efficiently.
Cons of Brick and Mortar Store
Employees yes that’s right , you’ll be required to pay employees to run your business. Many considerations, such as the payment of sick or holiday leave along with ensuring that employees are satisfaction should be considered. it.
Costs of overhead -the costs of running an initial brick and mortar store are far more expensive than operating an online store. It is essential to have sufficient capital. A brick and mortar business is a good model for its success as an e-commerce store, as it can be very expensive when you take into account costs for warehouses rental, staff hardware and employees amongst other things.
Time limitations -the duration it takes to set up an offline store and also to successfully run it is often very long. It could also divert your focus from your online store
Hours of operation Hours of operation for HTML0 -your online store is basically the 24 hours a day, 365 days a day shop windows. If you own an brick and mortar shop you will have opening hours limitations, and also deciding whether operating 7 every day of the week is a feasible choice for your business.
Travel of course, should they would like to visit your store , they are likely to need travel to get there. It is possible to overcome this by having an open-air store or taking a tour around some specific areas in the nation.
Scalability limited: If your traditional business grows at a rapid pace and you’re generating more sales from retail it is possible that you’d like to expand and expand your business. This means tracking for new premises, workers and figuring out the best location to set up retail stores. On the internet, you can simply extend areas of delivery.
Limits reach: With a traditional brick and mortar business it is only possible to offer the most enjoyable experiences to customers who live near your location. It can be difficult to create a larger presence across your entire area or even the entire country.
Is a Brick & Mortar Store Right for You?
As we’ve mentioned before, the initial setup costs of running an brick and mortar business can be expensive. If you’ve already established your online brand and have funds to consider it!
It’s crucially important to be in the forefront of technological advancements. Therefore, getting involved and adopting POS beacons, POS wallets and online marketing is vital.
If you’re still not selling, then we recommend dipping your toes using e-commerce before. Building an brick and mortar shop costs money.
If, after a few months, you begin to accumulate some cash, you can try creating a pop-up store during an event. If it is a hit, then you could look for a permanent store.
Brick-and-mortar stores aren’t as traditional a way of doing business that they used be. The way that millennials interact with them, and their expectations levels of screens on digital devices personalizing shopping experiences, and mobile technology has changed the goals.
brick and mortar shops could be the perfect complement to your online store that can mutually benefit both.
Have you started an brick and mortar shop? Do you want to expand to pop-up store? Comment in the box below, and let’s start this conversation to begin.