How Retailers are Using Store Tours to Boost Their Business Growth.

If you’re struggling to remain competitive in today’s retail environment, it may be time to step out of your comfort zone and think of more creative ways to create lasting experiences for your customers. Safari, anyone?

A retail safari takes businesses or individuals on guided tours to explore the retail landscape in various cities. Also referred to as a retail store tour, its goal is for participants to observe and understand retail trends, innovative store designs, and customer behaviours in real-world settings.

What Makes Retail Safaris Invaluable?

A structured process with an actionable plan, the retail safari encourages company seniors and middle management to think outside of the box and implement new strategies and tactics for their business.

• Real-world Exploration: It’s crucial for businesses to step out of their regular workspace and observe the broader retail environment. This helps in understanding the market and the competition better.
• Trend-focused: Retail safaris are not just about checking out competitors, they’re designed to provide insights into emerging retail trends. Each safari begins with a trend presentation tailored to your business so that the insights gleaned are relevant and actionable.
• Curated Experience: More than just store visits, the retail safari explores a selection of hotels and restaurants that are aligned with the retail trends and themes being reviewed. This ensures your team gets a well-rounded understanding of the trends, even from a dining and accommodation perspective.
• Inspiration & Learning: The underlying aim is to inspire teams, stimulate innovative thinking, and provide knowledge that can be applied to your business.

When Are Retail Safaris Used?

• Business Growth or Pivot: When a business is looking to expand, evolve, or pivot, understanding the market landscape becomes crucial.
• Competitive Landscape Change: If new players enter the market or old ones undergo significant transformation.
• Market Research: During the planning phase of launching a new product or service, or to understand how consumer preferences are shifting.
• Periodic Check: A routine check, usually quarterly or bi-annually, to ensure the business remains updated with industry trends.

Strategies and Considerations for a Successful Safari

• Purpose: Define what you intend to improve in your business and see how other stores might provide insights.
• Store Selection: Choose stores that align with your business goals. For instance, if your aim is to boost merchandising, visit stores renowned for it.
• Management Changes: New management often brings changes. If stores you’re familiar with have new management, explore them for noticeable changes and their effectiveness.
• Key Performance Areas: If you’re aiming to enhance areas like customer service or employee relations, see how other stores manage these sectors.
• Frequency: Ideally, conduct retail safaris quarterly but at least twice a year. They are vital for retailers looking to stay ahead.

What Areas of Your Business Will Benefit from a Retail Safari?

• Merchandising: This department is concerned with product assortment, display techniques, and overall store layout. A retail safari will help them understand current market trends in product presentation and promotions.
• Operations: The operations team is responsible for the day-to-day functioning of the store. They will be interested in understanding operational efficiencies, customer flow within stores, and best practices in managing day-to-day store activities.
• Marketing and Branding: The marketing and branding team can use a retail safari to gather insights on promotional strategies, branding initiatives, and customer engagement techniques used by competitors.
• Strategy or Business Development: The strategy or business development team will gain a broader perspective on market positioning, potential partnerships, or expansion opportunities, with a retail safari.
• Market Research or Consumer Insights: This team is dedicated to understanding consumer preferences, behaviours, and trends. A retail safari can be a valuable source of direct, on-the-ground consumer insights.
• Training and Development: The training team can use retail safaris to better understand the best practices in employee-customer interactions, training methods, and overall store staff performance.

National retailers may have these departments work in tandem, with each focusing on their specific areas of interest. If a high emphasis is placed on retail safaris as a strategic tool, they may even have a dedicated team or individuals whose primary role is to conduct these tours, gather insights, and then disseminate that information to relevant departments.

5 Ways to Analyze Your Store Experience

Retail safaris immerse participants in the world of retail, allowing them to observe, learn from, and get inspired by the latest trends and practices in the industry.

Product Insight: Retail safaris offer a deep understanding of the products available in the market. They shed light on what’s trending, how products are presented, and what strategies make certain products more appealing than others. Well-curated products and effective merchandising techniques can enhance the desire to revisit and purchase.

Human Interaction: A crucial aspect that differentiates in-store shopping from online is the human element. By touring retail stores, participants can gauge the efficacy of sales associates and their ability to embody brand values, relate to customers, and enhance the shopping experience.

Experiential Destination: Since a retail store isn’t just about buying products, a retail safari can help you understand how store designs can go beyond mere transactions to become destinations where customers engage, test, and discover products in ways they can’t online.

Emotional Connection: Successful retailers understand that shopping is a deeply personal experience. Retail safaris help participants understand the emotional connection stores create with their customers, including the feelings that arise when customers enter a store, try out products, or even think of the brand.

Strategic Comparison: Using a consistent evaluation framework for safaris enables a systematic comparison of various stores. This consistent analysis across old and new retailers allows businesses to understand what constitutes a successful retail experience universally.

Are Retail Safaris Worth the Cost?

Retail safaris provide invaluable insights into the evolving landscape of brick-and-mortar shopping, helping businesses understand, adapt, and innovate to remain competitive and appealing to consumers. Is the retail safari experience worth the cost of admission? Here’s a quick cost-benefit analysis:

Costs:

• Direct Expenses: Transportation, potential accommodation, meals, and any entrance fees
• Time Investment: Time spent away from your business which could be used for other profitable activities
• Analysis Overhead: Post-tour analysis and strategizing require time and possibly additional resources

Benefits:

• Knowledge Gain: Real-world insights that can lead to tangible improvements in your business
• Avoid Costly Mistakes: Observing pitfalls in other stores can help you avoid making the same errors
• Innovation: The chance to gain a competitive edge by bringing something new and unique to your own store

Net Benefit: If executed effectively, the benefits (in terms of potential increased revenue, customer satisfaction, and brand strength) can be an invaluable tool for your business but should ultimately outweigh the costs. The key is to act on the insights gained during the tour and make the necessary adjustments to your business.

One company doing this is Retail Store Tours. They operate in major cities throughout North America, Europe, Asia and the Middle East.

Get Inspired and Up Your Game

In the fast-evolving world of retail, staying informed and ahead of the curve is essential. Retail safaris offer an immersive experience into the heart of the industry’s innovative strategies, designs, and customer interactions. 

These tours provide a unique opportunity to observe, learn, and gain inspiration from global retail practices, setting the stage for future business growth. If you’re serious about elevating your retail game, understanding trends, and harnessing the power of real-world insights, it may be time to embark on a safari of your own! 

And, when you’re ready to make the necessary changes and enhance your retail space’s functionality and aesthetic appeal, our team can create a shopping experience that your customers will love. If you’re interested, get in touch with us to talk about your next project. We can help you make your stores match your vision and bring you closer to success.