Some of the benefits of refurbishing your retail store are clear: Refurbishments let you take better advantage of your limited floor space, and they can help rejuvenate a store that’s become stale or outdated over time. Some of the additional benefits, however, are less obvious, and learning these benefits might help you determine that it’s time to invest in refurbishment. Here are a few of the lesser-known reasons why a refurbishment can benefit your store.
Refurbishing your shop can be a bit stressful at times. However, with the stress comes excitement, and knowing that your store is going to emerge as a better place can be exciting. The greatest benefits occur after the refurbishment is complete, as reopening your store with a brand new look and layout can be tremendously rewarding. This refresh helps employees on all levels as well. For point-of-sale employees, showing up to the same store day after day can be a bit tiring. Having a new store to show up to can make long days a bit more enjoyable, and the changes you invest in can lead to a more pleasing work environment.
Store refurbishments differ greatly in scope but many entail some degree of structural change. When refurbishing your store, you’ll likely be able to take advantage of energy-saving technologies that can help you cut back on electricity, lighting, and heating costs. Even small improvements can lead to significant savings over time; saving just a small percentage on your heating and cooling bills by upgrading your windows, for example, can save your hundreds or thousands of dollars each year in expenses. In fact, many of these changes eventually pay for themselves over a few years. In addition to saving money, these energy savings also help you reduce your store’s impact on the environment, and meeting certain standards lets you advertise your business as eco-friendly.
New Retail Infrastructure
Computers have long played a role in the retail business, and this trend has accelerated dramatically in recent years. While a business-class router and business internet connection are often enough to adopt new technologies, there are plenty of hardware options that let you make the most of these new advances. A new point-of-sale interface, for example, can help you serve customers better; equipping employees with tablet devices, for example, can help them prepare orders while working with customers on the sales floor. Today’s shoppers also enjoy free wireless internet access, and installing a few access points while refurbishing your store can lead to a more seamless experience. Modern flatscreen televisions are far cheaper than those in the past, and hanging a few throughout your store can give it a thoroughly contemporary look for an economical price.
Adjust to New Trends
Trends affect nearly all type of retail stores, and these trends can render your previous layout incompatible with current sensibilities. Smartphones are a great example of how new items can change retail stores dramatically, as competing in the electronic retail industry entails stocking smartphones and tablets, and many stores simply weren’t designed to display smartphones and let customers try them out. While change comes more slowly in other industries, it’s still inevitable. Refurbishing your store lets you change your layout to accommodate new types of products, letting you remain competitive. These changes can also help stores that are growing by making more efficient use of space.
Launching a store is a great experience, and it’s one that you can’t repeat in the future. However, soft relaunches can go a long way toward recreating that feeling, and an effective refurbishment can make a relaunch even more exciting. Consider combining the end of your refurbishment with an advertising campaign going over the changes you’ve made, as people who haven’t visited your store in a while might be interested to see how it changed. Refurbishments are also a great time to consider rebranding or even renaming your business. A new logo or color scheme, when adopted alongside a refurbishment, can give your business an exciting new identity.
Procrastination is fairly common in the retail world, and it’s easy to let small tasks pile up over time. The best way to handle these tasks is often to do them all at once, and a store refurbishment serves as a great opportunity to catch up and finally cross off everything on your to-do list. Because refurbishing your store often entails clearing it out entirely, cleaning tasks and other chores are often easier to accomplish. If you have carpet stains you’ve wanted to address, for example, a refurbishment is a perfect opportunity to bring in experts or replace the carpet. Catching up can also help you relieve stress, as finally getting ahead of procrastination feels great.
Add or Remove Office Space
Office space plays an important role in retail stores, but different stores have differing office needs, and the building you’ve purchased or rented might not be ideal for your store’s needs. Refurbishments provide a chance to add in more office space if it’s needed, giving you the backroom area you need to operate most effectively. In some cases, stores have more office space than they need, and tearing down walls can help you open up your floor space without having to relocate. Create a rough blueprint of your store and determine if your floor space and office spaces are proportioned appropriately.
Meet with Consultants
Refurbishing your store provides a great opportunity for taking an inventory of your operations and finding ways to improve your business. Before and during your renovations, consider if there are any ways you can operate more efficiently and effectively by bringing in experts on retail store operation. IT consultations can help you make the most of your technical infrastructure and ensure you can handle new technologies on the horizon. Bring in a branding consultant lets you perform your refurbishment in a way that improves your branding. General management consultants are great for preparing your employees for new operations and to provide better customer service. While all of these consultation services can be helpful at any time, changes are often easier to implement in conjunction with refurbishments.
Create a Safer Store
Running an effective retail store means creating a safe environment for all visitors. Many older buildings have potential safety risks that can cause potential harm to customers, which can damage your reputation; some injuries can even lead to expensive lawsuits. When performing your refurbishment, you’ll be able to identify potential risks and mitigate them before your open again. Again, it may be worth bringing in a consultant who can help you identify possible problems that take an expert to notice. As with everything in your store, ensure safety is a top priority, and run potential changes by experts to ensure they’re as safe as possible.
There are more tools available to fight shoplifting today than ever before. Because shoplifting represents such a significant expense for businesses, it’s worth investing in infrastructure changes that help prevent shoplifting. Effective layouts provide employees with a better view of would-be shoplifters, and these arrangements are often compatible with contemporary design sensibilities that favor open retail environments. Furthermore, security camera technology has never been cheaper, and it’s fairly inexpensive to install cameras throughout your store and save a large amount of footage cheaply. Refurbishing your store provides a great time to invest in these new technologies.
Create Unique Spaces for Customers
When first running a retail store, many owners focus primarily on maximizing their floor space. However, modern retail stores often provide seating areas for customers, which allow them to try out products and talk with sales agents about their needs. Refurbishing your office gives you an opportunity to explore these options and find new ways to create a unique experience for your customers. Modern retail shoppers want a unique experience, and investing in elements that make your store stand out can help you build a loyal customer base.
The brick-and-mortar retail industry is under tremendous pressure due to the ubiquity of online shopping. However, there is still plenty of room to compete, and those who make the most of their retail space can remain competitive by providing an enjoyable, personal experience. While many store owners consider the possibility of refurbishing their retail outlets, many fail to realize just how powerful a proper refurbishment can be. If you have any questions about how a refurbishment can help your store, contact https://www.oakridgebuildinggroup.com.au/ to learn more.