The future of the UK retail sector has once again been thrown into chaotic uncertainty. Lingerie shop owners are becoming increasingly concerned about the impact price hikes will have on their businesses in the wake of the falling pound.
With such small margins to contend with, lingerie retailers will be forced to put their prices up. But there’s only a small percentage of costs that shoppers will be willing to absorb before they turn to the big discounters for their bras and briefs!
So how can lingerie retailers put their prices up without losing their customers?
First of all, they need to let their customers know they’ll be increasing their prices in advance, so it gives them a little time to adjust to the news. People rarely respond well to negative news being sprung on them.
Secondly, they should let their customers know about the additional services they offer, and will continue to offer, but don’t charge for. Now is the time to promote private appointments, bespoke fitting services, special out-of-hours events and beautiful gift wrapping.
Good customer service is also key – consumers don’t mind paying a little extra for items if they have had an enjoyable shopping experience. Make your customers feel special by offering them a glass of Prosecco, a fluffy robe and a welcoming smile. Lingerie retailers’ strengths have always evolved around good customer service that can’t be replicated elsewhere, so play to your strengths and you won’t go far wrong!