Brooke Moore

Writing Assignment 2

Any retail business owner wants to expand their customer base while still keeping their loyal

customers. This will increase their profits and will make their store brand become more popular.

Today’s consumer looks for convenience when shopping. One of the most important things for the

owner of Savvy Shopper Boutique to consider is the market patterns in that area. To reach more

customers Savvy Shopper Boutique must first find customers that are in the same market as the existing

customers. We can find this kind of market information in quantitative and qualitative research and

surveys. To reach similar customers the most effective method would be advertising in local

newspapers and magazines, as well as billboards in the surrounding areas. Also, social media is a cheap

and very effective way to advertise today. Since there is a university nearby, offering a student discount

of certain days would bring in more customers. Savvy Shopper Boutique would also want to reach a

new market to bring in more customers. To reach a new customer base the boutique will need to

consider diversification and bring in new product lines. This can be risky because existing customers

may be lost as well as funding issues, but when it is done correctly it can be very profitable for the

boutique. It is very important to keep the remaining customers while still trying to bring in new ones.

When researching current customers it is important to know your customers, what they buy, why they

buy, what their budget is, and who your competitors are. To keep customers, Savvy Shopper can offer a

loyalty program to the frequent buyers. It is important to know your customer and to know the reasons

why they keep coming back to shop. Since there is a wide range in ages of shoppers, it is important to

have products that would satisfy everyone (Pharma Knowledge Base 2011).

By looking at the retail trends for 2015, using technology would be the most effective way to

reach new customers as well as keep existing customers. In order for retail businesses to be successful

they have to remain up to date with the latest technology their customers are using. In today’s society

social media is very important and can serve as a shopping platform. Today mostly everyone has some

form of social media, and it is a way for retailers to interact with their guests. Savvy Shoppers Boutique

would also need to look into selling in more than one channel. In 2015 it is known that when retailers

use more than one channel that business will be more successful. One way to reach more customers is

to set up an online store where customers can purchase. This would also be convenient for existing

customers who would not be able to come to a brick and mortar store location. Since technology is

being used more in retailing, customers want to be ensured that their information will not be stolen or

misused; therefore, Savvy Shopper will need to manage the risks to protect their customers. Away to

reduce risks is to be more selective of vendors being used. Also, another very important aspect to

consider is the overall customer experience is satisfactory in order to keep customers and reach new

customer markets (Vend University 2014).

Word Count: 547

Sources:

Kunz, G. I. & Garner, M. B. (2011). Going Global: The Textile and Apparel Industry. New York:

Fairchild.

(2011). Seven ways to increase market share of business. Pharma Knowledge Base. Retrieved from:

http://hosted.comm100.com/knowledgebase/7-Ways-to-Increase-Market-Share-of-

Business_A188.aspx?id=188&siteid=95439

(2014). 12 retail trends and predictions for 2015. Vend University. Retrieved from:

http://www.vendhq.com/university/retail-trends-and-predictions-2015