by Andrew Jackson http://www.9xb.com
Surviving in the retail sector is a tough ask for any business at the best of times. However, in the current economic climate and with the increasing popularity of internet shopping, it is becoming ever more difficult for high street retailers. Consumers are now being much more frugal with their money and spontaneous purchases are less common. Instead we are seeing considered purchases and many shoppers are looking online to find the best deal. In such a climate it is essential for retail businesses to run a tight ship and take advantage of every opportunity. Here we examine five ways in which self storage can assist.
Increased buying power
The main aim of any retail business is to purchase stock at a good price and then sell it on for a reasonable profit. When purchasing items in bulk the buyer has more power to demand a better price. This can of course prove problematic when the business property is not large enough to store large quantities of stock. Utilising self storage means you have enough space to keep larger quantities of stock and can therefore secure a better price and maximise your profit margin.
In order to ensure repeat business it is important to provide a pleasant experience to your customers. A key element of this is having all of your product lines in stock to avoid customers from being disappointed. Achieving this goal isn’t always possible when you are relying on suppliers to deliver on time or you are trying to factor in a trip to the wholesalers. Having additional stock situated at a nearby self storage facility means you can fill the shelves up on a regular basis as and when required; improving both turnover and customer satisfaction.
A wider range
As a result of saving money through lower purchasing prices you will eventually have more capital to invest back into the business; which means you can begin branching out into new product lines. The ability to restock your shelves on demand also means that you can keep lower numbers of each item onsite and thus have room to display your additional lines.
Many retail outlets stock items that will sell well during the summer months then drop off during the winter, or vice versa. This most commonly occurs in the clothing sector, but there are others areas where this is typical. Often retailers are left with no option but to sell off items at a loss in order to make room for new stock as the seasons change. If you have some storage space you can keep your seasonal items safe until the right time of year comes back around.
Considering Health & Safety
The final benefit that storage can provide is improving health and safety within the workplace. Having the extra space should mean that there is no need to store your items in corridors and walkways or stack boxes too high in the storeroom; greatly reducing the likelihood of injuries sustained by tripping or falling items. The ability for staff to safely negotiate their way around the property also reduces risk in the event that a fire does occur.