April 20, 2018

5 Essential Business Tips for Vape Retailers

5 Essential Tips for Vape Retailers and Headshops

1. Curate a Comfortable Environment

Research supports that the physical layout of your shop plays a crucial role in your business’s success. In order to make your shop appealing to your customers, it is important that you make it a comfortable, aesthetically pleasing, and “cool” environment. If customers don’t feel comfortable in your shop, odds are they will likely get what they came for and leave shortly after, or they won’t purchase anything at all. By making your shop an enjoyable place to spend time, you will encourage customers to stay longer. This will promote increased browsing time and may lead to additional sales. Curating a comfortable and engaging work environment will also boost employee morale and increase productivity.

2. Maintain a Well-Stocked Inventory

One of the most important elements of a vape shop is its inventory. Your inventory is your product offering, it will directly effect your sales, therefore your shop’s success. Your inventory is what will help differentiate you from other shops. Maintaining a well-stocked inventory consists of carrying popular flavors and brands, and constantly replenishing your shelves with fresh products. Part of maintaining a proper inventory is doing market research to determine which vape and juice brands are popular, and which particular flavors are selling the most. Nothing can hurt a shop’s reputation more than becoming known as the store with old, outdated vape mods and random, non-recognizable juice brands. Remember, the fresher and more recognizable your product offering is, the more likely it is that consumers are going to want to support your shop.

3. Create a Social Media Presence

Now that almost everyone utilizes social media on a daily basis, maintaining a professional and up-to-date social media presence has become a key element of business that you can’t ignore. Ensuring that you have all your business’s information clearly listed on social media is the first thing you need to do. This ensures that if someone finds you on social media, they know where to find your shop and how to contact you. Once your online presence is established, the next step is making sure you’re consistently updating your social media pages with original content. Whether you’re advertising new products or just posting a daily update, you want to make sure you’re constantly captivating your followers’ attention. The more exposure your followers get to your content, the more likely they are to become customers.

4. Provide Excellent Customer Service

Regardless of what industry you may be operating within, customer service is always a critical element when running a business. How you interact with your customers has an enormous effect on your business’s success. The more personalized and hands-on your customer service strategy is, the more it will benefit your shop. If customers feel like their needs are being catered to and that they are valued by the business, they are more likely to support it. If you don’t have a specific vape mod or juice that a customer is looking for, special order it for them! Small gestures can have big impacts when it comes to making an impression on your customers. If you can make your customers feel like family, they will want to support you like family.

5. Implement a Reward System

Research shows that it is five times more expensive to acquire new customers than it is to maintain current ones. Therefore, it is in your best interest to maintain them. Loyalty programs, or reward systems, are great methods for improving customer engagement and also generating additional sales. Rewards systems not only provide consumers with additional incentives to be repeat customers, but are also an efficient means of creating a relationship between the shop and the consumers. Offering small incentives to customers like a 5-10% off coupon, or implementing a point system can effectively increase your business’s market share. The customers will feel like they are getting a deal while you ultimately gain more long-term revenue in exchange for providing them with a minimal short-term discount.