The retail landscape and consumer behavior are constantly shifting. New challenges and competitors are popping up daily, forcing small business specialty retailers to innovate and find new ways to stay ahead of the curve.
While massive online retailers are able to offer things like endless aisles and deep discounts, specialty retailers are creating and employing transformative strategies that uniquely position them to win with the customer.
Heyday Boutique
RICS client Heyday is a lifestyle boutique in Bozeman, MT, offering an “assortment of creatively designed and uncommon products.” To stay competitive and thrive in the evolving retail industry, Owner Lisa Rickenbaugh and her team of 10+ employees have focused on creating a highly personalized customer experience and leveraging connected technologies within their store.
As a result, in the past two years, Heyday’s YOY sales have increased 33%.
Make it Personal
Heyday’s ability to offer a personalized approach to their customers has been integral to their success.
According to a recent survey, 56% of consumers say they would be more likely to shop in-store and online with retailers who know them by name. 65% said they would be more likely to shop in-store and online with retailers who keep track of their purchase history.
With this knowledge, Heyday has been able to create a highly personalized and winning strategy with their customers that drives sales and repeat business. At Heyday, every shopper that enters the store is greeted, often by name. Sales associates offer suggestions to returning customers based on their purchase history. With access to robust customer profile data in RICS, Heyday has been able to segment marketing campaigns so that all customer communication is personalized and relevant.
Building a Community
This level of personalization is especially helpful for promoting Heyday Workshops and Events. By offering regular workshops, events and services, Lisa and her team have created more than just a shopping experience at Heyday. Workshops and events focus on everything from a crash course in calligraphy or floral arrangement class, to seasonal celebrations like the Heyday Easter Egg Hunt.
Additionally, Heyday elevates the customer experience by offering premium services that their guests have come to love.
Heyday offers complimentary gift-wrapping as well as a $6 flat shipping rate, introductory 20% off coupon, frequent buyer discount, and generous return policy. Heyday customers can also employ the gift registry, which Heyday staff are poised and ready to help build by providing personalized suggestions.
Heyday shows that while pricing matters, the experience you create for the customer and how you make them feel is what matters most.
Connected Technology
To keep up with the evolving retail space, Heyday invested in ecommerce with Shopify. Integrating Shopify with RICS has enabled Heyday to collect more customer data than ever. From any page on the Heyday website, customers can easily subscribe to the Heyday newsletter or create an account that allows them to expedite checkout and manage their online purchases.
The Heyday website beautifully reflects the brand and complements the in-store experience. From the colors to the customer service commitment, whether you’re shopping in store or online with Heyday, it’s consistent. It’s personal. Their website literally says “We’d love to meet you. Come to Heyday to escape everything mundane. Let us surprise and delight you every time!” Their customers know what to expect. And trust builds loyalty.
Ecommerce as an additional revenue stream has helped Heyday increase total inventory turnover more than 2% in 2 years. With annual profit up 28%, it’s safe to say the Heyday team has found their secret recipe to thriving in today’s retail environment.
The Punch Line: Boutiques are Building Momentum
Consumer behavior is driven by transformative expectations and boutiques are designed to deliver. It would be a mistake for boutique owners not to take advantage of their strengths in today’s retail market.
How can we help you stay relevant?
RICS makes it easy to track lots of data, giving you the insight you need to lower your inventory costs, collect the right customer information, and build customer loyalty.
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