Retail, particularly on the high street, is tough right now. It seems like week in, week out we’re seeing more and more high street retailers going out of business, with eCommerce branded the bad guy for still being on the up. And that’s before we mention the seemingly endless chatter and concerns about a no-deal Brexit.
So how can suppliers continue to grow in UK retail today? We believe suppliers can thrive, and while it’s a big part of their success, the key isn’t simply eCommerce. Suppliers need to diversify their income, and that means getting back to the high street. Independent retailers are springing up on the high street – and their success is attained by doing things differently – both different to eCommerce, and to how the high street used to be. Independent retailers can provide extra value for customers who might otherwise simply opt for the convenience of ordering online.
Many independent retailers use a co-op approach (where small companies work together to serve a larger customer base), hold in-store events, or have loyalty schemes as a draw to ensure continued footfall. One of the main reasons that customers cite for shopping online, after convenience, is a greater choice of products.
Since independent retailers tend to start, by necessity, in smaller stores, holding vast amounts of stock may not be possible. By cleverly utilising the DropShipping model, and using a reliable platform such as Avasam, retailers can hold a small amount of stock locally, but offer an almost infinite range of products. This means the store can diversify, becoming more like a showroom with a coffee shop to relax in perhaps, or using their space to provide expert advice, classes or training to add value to the customer experience. When a customer identifies what the product they want, they place the order with the store, who immediately passes the order to their supplier. The supplier sends it out for next-day delivery. The customer gets a more pleasant, personal experience, is reassured the product is right for them, and has the convenience of having the product delivered straight to their home, which can be a great benefit for larger products. The store makes a profit – especially if the customer purchases other items, and the wider high street benefits from additional footfall and impulse purchases. The supplier is also happy, because they’re making additional sales. Not only that, by using Avasam, the customer payment reaches them immediately, so there’s increased, and faster cash flowing into the supplier’s business too.
Profits aside, we can also consider the benefit to suppliers around the growing concern of consumers regarding company ethics. As customers become more concerned about where their products are sourced, and how much manufacturers pay their staff, they’re doing more research before making purchases. Suppliers can alleviate these concerns by partnering with independent retailers – staff can easily answer customer questions, particularly if they’ve seen the supplier’s operations in-person, and they can contact the supplier or manufacturer directly for more complicated queries.
The UK high street is being brought back from the brink by independent retailers, and suppliers should actively engage with them. Avasam provides a quick, and easily implemented way to offer retailers two great options – online retail presence and an opportunity to build unique retail environments that give their customers an incentive to engage with them. Encourage retailers to innovate and they will simultaneously help suppliers to increase their sales.
By Tejas Dave
About the Author
Tejas Dave, Founder and CEO of eBusiness Guru and Avasam, has been helping eCommerce businesses worldwide since 2010. Avasam is a platform that allows wholesalers and sellers to collaborate. Tejas is revolutionising the shipping industry and creating a new level of financial stability with the aim of creating 5,000+ jobs within the UK. Tejas is using technology and automation to provide solutions to e commerce challenges by removing the limitations that are currently placed on what and where people can sell. More information is available at www.avasam.com
Kizzi Nkwocha is the editor of Business Game Changer Magazine and publisher of The UK Newspaper, Money and Finance Magazine, the net’s fastest growing wealth creation publication. Kizzi Nkwocha is chair of The Ethical Publishers Association and co-chair of The Logistics Association. Kizzi made his mark in the UK as a publicist, journalist and social media pioneer. As a widely respected and successful media consultant he has represented a diverse range of clients including the King of Uganda, and Amnesty International. Nkwocha has also become a well-known personality on both radio and television. He has been the focus of a Channel 4 documentary on publicity and has hosted his own talk show, London Line, on Sky TV. He has also produced and presented both radio and TV shows in Cyprus and Spain.