Q) Once I've set up, how can I develop customer
loyalty?
A) Traditional markets attract a wide range
of people and often rely on passing trade. Although the destination
for many customers will be the market, they are often attracted by
cheaper prices or value for money and therefore display less
loyalty toward individual stalls.
For anyone developing a business as a market stall trader
building customer loyalty is one of the key issues affecting long
term success.
You can use various methods to generate interest and help to build
a customer base, including
- offering loss leaders -a staple product at a reduced rate to
attract initial interest
- buy one get one free (B.O.G.O.F) offers
- seasonal specials or "one off" bargains
- Attractive displays and presentation of goods, coupled with the
use of branded items, such as carrier bags and receipts.
- TAKE CREDIT AND/OR DEBIT CARDS
Important points:
- DON'T FORGET: Good customer service will assist in attracting
repeat custom: ensuring that staff are friendly and polite, making
sure that any complaints are dealt with effectively and ensuring
that the stock is of the highest possible quality is essential.
ALWAYS THINK "CUSTOMER FIRST"
- Join a relevant trade organisation, such as the National Market
Traders' Federation (about 70% of market traders are members of the
Federation) and signing up to Initiatives such as the Customer
Charter Mark, may instil confidence in your customers. They also
offer items such as carrier bags and website development at
competitive prices, which may be of use to your company.
- If you sell something new, or different, you may have access to
a wider number of customers.
- Nantwich Market's customers include many visitors as well as
locals -this reduces repeat business but opens other opportunities-
souvenirs for example