Saturday, 25 June 2016

Retail Store Renovation Gives Opportunity to Attract More Customers

What is a Store Renovation?

Store renovation can be defined as the installation of new ideas and find more interactive in-store fixtures, which allow customers to access and purchase more. It also includes the removal of old displays and fixtures, fixture moves, new interior and exterior signage roll outs, product merchandising or making additions to floors. With the help of a commercial contractor additional improvements have also been made to increase energy efficiency across the stores and allow customers to discover all that stores has to offer in a fun, easy and convenient shopping environment.

Role of a Commercial Contractor in Store Renovations

Renovations can be carried out in multiple stages or all at once. With a staged process, however, it is important that you have an overall plan in advance. Renovating a store requires the expertise of a commercial contractor and an architect.  A commercial contractor is the one who specializes in specific tasks and activities. He oversees the construction and remodeling of stores. Commercial contractor’s responsibilities include preparing cost estimates, hiring and overseeing laborers, selecting construction strategies, ensuring regulations are met, determining budgets and updating owners and investors on progress. The commercial contractor starts the project by becoming familiar with the drawings. He or she will develop a schedule based on the needs of the owner and the logical construction sequence of the project. The contractor may also be responsible for securing permits from local authorities. Commercial contractors create lists of the specific tasks that are to be completed by each individual subcontractor. Using this type of list helps the subcontractors price the job, and also keeps it clear throughout the construction process that is responsible for each task.

Store Renovation includes stages like planning, designing and constructing. Planning includes collecting ideas and estimating a budget and decides what is and is not achievable. Planning determines what needs to be done. Renovating an existing property requires a total demolition. You can often cut Store Renovating costs by keeping existing fixtures intact rather than replacing them altogether. If you’re looking to replace entire structures, then installing new flooring, ceilings and lighting may be more cost-effective for your project. The designing stage includes visualizing how the size, placement of fixtures, building materials and lighting will affect the customer’s initial impressions. Thereby commercial building contractors can do wonders in renovating a store which not only displays merchandise but it also makes an accessible and convenient space for their target audience.

Why a Store Renovation is Important?

The main motive behind the store renovation is increasing the sales by attracting more customers. If you want to keep people in the stores, they need to be more interactive and engaging. Store renovations play a critical role in helping retailers transform their retail environments, address competitors, and drive sales. It helps in maximizing sales productivity and expanding the customer base in key markets. Renovating the store increases the value of the merchandise by helping the customers feel like they are worth the effort.
Renovations talk to your customers and to your staff. When it is chosen to renovate a store it is showing its faith in the future of the store. The customers are aware that renovations are rarely made to stores about to be closed. This certainty creates good faith among the customers. In today’s competitive world developing trust and a sense of security are primary goals for all retailers.
Awareness of growth and appreciation of new look will bring improved sales. A facelift can increase the chance of winning the competitors. Innovative remodeling which adds relevance to the service offered plays a vital role in becoming a winner in market. “It’s the little improvements that sometimes customers notice the most,” Brous says. Investing quality materials and equipment in store renovation will affect perceptions of your business. For employees, working in a modern and well-designed store encourages their creativity which indeed helps in maximizing the sales.

To conclude, store renovation with the help of an expert commercial contractor gives a better working environment for the employees as well as the customers which increase the chances of producing a retail space that will also increase the long-term profits.

Source: Retail Store Renovation Gives Opportunity to Attract More Customers