The possibility of a recession has a lot of people worried, and for good reason. At grocery stores all over the country, prices for essentials like milk and eggs have risen rapidly. If you’re the owner of a grocery store, you’re often at the mercy of the market, and inflation can mean losing revenue you need to keep your store open. Consider these smart tips you can use to increase revenue at your grocery store.
Focus on Customer Service
Sometimes, the oldest advice is still the best. It’s common knowledge that people respond well to businesses that make them feel cared about. Making sure your employees are helpful and knowledgeable about the store can go a long way toward creating customer loyalty. Think about what your customers would want most from their shopping and let that guide your approach.
Use Multiple Revenue Streams
One of the easiest ways to increase revenue at your grocery store is to add additional revenue streams. A prime example of this is installing EV chargers in your parking lot. Grocery stores are just one of the many businesses that can benefit from EV chargers because most guests easily spend 20–30 minutes, if not more, in the store. That’s enough time to charge a vehicle on a level three charger.
Drive Revenue Through Variety
The more options you offer at your store, the more chances you have to inspire a customer to make a purchase. For example, offering non-dairy and vegan alternatives to popular foods makes sure that you can attract more customers. Having multiple brands with different price points also encourages people to buy because they feel like they know all the options available; there’s no need to wonder if another store has a lower price.
Keep the Checkout Line Moving
A reputation for long lines can easily drive people away from your store. To fix this, make sure you hire enough people to have several checkout lanes open at once. It’s also helpful if you have a designated staff member who can point people to the shortest lane so they don’t all choose the same line.
Surviving a recession isn’t easy for customers or grocery store owners. However, meeting your community’s needs will make you indispensable during stressful economic downturns.