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In 2006, retail trade in British Columbia was worth $53 billion with a healthy average gross profit margin of 27% (the highest, 50%, was in clothing stores and lowest was 13% at new car dealers).
Such factors as a strong economy, lowest unemployment rate in 30 years, and cheaper imports due to the Canadian Loonie’s spectacular rise against the US dollar all contribute to willingness of customers to spend larger amounts and shop more frequently.
The question all retailers are facing is how to entice British Columbians to choose their stores and ecommerce sites. Competing on price alone is not only dangerous because it creates doubt about quality of products but has also been shown to be mostly ineffective in building customer loyalty or assuring a healthy profit.
Customers today are more savvy, demanding and have plenty of options. Retailers need to cater to them with memorable advertising, comfortable shopping atmosphere and most importantly superior customer service.
At Reveal Research, we offer methodologies and techniques best suited to measure, evaluate, analyze and report on every aspect of retail operations, sales and marketing. Factual information and insight derived form your client’s perceptions about their shopping experiences will illuminate shortcomings and present new opportunities to sell more, more often and to more consumers.
- Evaluate effectiveness and track ROI of advertising, direct mailings, manufacture rebates, mall promotions, and sponsorships.
- Examine competitors, their clients, strategies, marketing efforts and brand positioning.
- Discover how your stores are rated and compared to others on layout, décor, character, cleanliness, hours of operation, location, and parking.
- See through the customer’s eyes with mystery shoppers; evaluate staff’s behavior, product knowledge, speed of service, personal appearance and observance of policies.
- Optimize delivery, installation, warranty, returns and exchanges procedures, loyalty programs, in-store financing and any other transactions.
- Assess your website and e-commerce process on criteria such as intuitiveness, layout and aesthetics, quality of information, and specialty features.
We are excited to offer a free assessment of needs and marketing research consultation, don’t hesitate and contact Reveal Research now if your goal is increased sales, optimized customer experience and objective business intelligence.
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