BUSINESS INSIGHT
DESTINATION RETAIL SLR HANDBOOK
BECOMING A DESTINATION STORE IT HAS NEVER BEEN MORE IMPORTANT TO GIVE YOUR SHOPPERS AS MANY REASONS AS POSSIBLE TO CHOOSE YOUR STORE OVER A COMPETITOR’S. A NEW HANDBOOK FROM SLR EXAMINES WHY
I
BECOMING A DESTINATION STORE MATTERS MORE THAN EVER – AND EXPLAINS HOW TO DO IT. BY ANTONY BEGLEY
n these most remarkable of times, most convenience stores are performing way above average and that’s just reward for the heroic role that the sector has played at the heart of communities across the UK over the last six or seven months. But when the pandemic ends, as it surely will, what will the future look like and what will retailers need to do to ensure long term success? The pandemic has thrown a new light on what the role of the convenience channel is, and we have also seen huge scale blurring of previously well-established boundaries. The demarcation lines between retail, foodservice and online retail are, if not obliterated, at least smudged out of all recognition. So what does that mean for local retailers? It probably means the traditional convenience retailing model is no longer fit for purpose Competing on price and promotions with a similar if not identical product and service range is no longer a sustainable strategy. Evolution is the way forward, revolution is a distinct possibility. With so many retailers and hospitality providers chasing every pound coin in every consumer’s pocket, the store of the (near) future will have to be a true destination store that offers customers as many reasons to visit as possible. That means products and services and solutions that customers can’t easily find anywhere else nearby. But how exactly do you go about building a destination store? This is the challenge tackled in a new Destination Retail Handbook from SLR that you can access here. A key
24 I SLRMAG.CO.UK / ISSUE 20 / WEDNESDAY 7TH OCTOBER 2020
message from the Handbook is that a destination store is a living beast that will change quickly and regularly over time. What customers want tomorrow won’t be the same as what they want the following day. But by committing to becoming a destination store you will already have built an attitude, a frame of mind that prepares you for the need for relentless and constant change, always adapting and improving your offer and always responding to customer demand. Ultimately, a destination store is nothing more than a frame of mind. Don’t get attached to what you’ve always done or even what’s working for you now. Develop a commitment and passion for understanding your customers and anticipating what they will want next – then give them it. You won’t get it right every time, but your customers will respect you for trying. It’s not easy or everyone would be doing it. But everyone isn’t.
