You’re probably already familiar with the term outlet. Simply put, an outlet is a commercial store used to sell goods directly to consumers.
So, to learn more about outlets and tips for successfully building one, check out the following information, Labamu Friends!
What is an Outlet?
An outlet is a place where a business sells its products or services physically.
The difference is, outlets specifically only sell products from one brand, even though the products can be very diverse.
Examples are the Shafira Muslim fashion outlet and the McDonalds outlet.
Even though everything is now digital, the existence of outlets still plays a vital role and can provide significant benefits to a business.
Good for increasing sales, strengthening brands, and expanding market share.
However, in fact, not all businesses need to have one because the existence of online platforms allows businesses to market their products via the internet without having to have a physical business premises.
That is why sales decisions and strategies through outlets must take into account the characteristics of the business and the target market.
Differences between Outlets, Retail Stores, and Stores
Translated into Indonesian, outlet means shop. However, its specific meaning refers to a permanent building that exclusively sells products from a single brand.
This is the fundamental difference between outlets and retail stores. Retail stores like grocery stores, minimarkets, and supermarkets offer a wide variety of products from various brands.
Meanwhile, if you ask what the difference is between an outlet and a stall (counter), the difference is in the layout.
While an outlet has a physical building and is usually a fairly large room, a stall can be just a display table or small showcase for selling products.
An example is the food outlets in the mall.
All three are places to sell goods, but it turns out there are differences too, right?
Types of Outlets
Based on their type, outlets can be divided into three categories: physical outlets, online outlets, and combined outlets. Here’s a detailed explanation.
1. Physical Outlet
A physical outlet is a type of outlet that takes the form of a physical store located in a specific location. This type of outlet is generally located in a strategic location for easy access by consumers.
That way, consumers can come directly, look around, and buy the product.
Examples of physical outlets are clothing stores, car showrooms, and fast food restaurants.
2. Online Outlet
Outlet online adalah jenis outlet yang hanya beroperasi secara daring melalui platform digital.
This type of outlet allows consumers to purchase products without having to visit the store in person. Simply make purchases through the website, app, or online platform.
In addition to the purchasing process, buyers can also make payments online. Examples of online outlets include e-commerce, online shopping sites, and app-based stores.
3. Combined Outlet
A combined outlet combines the two types of outlets mentioned above. Through this outlet, consumers can choose to purchase products either in person at the store or through the store’s online platform.
For consumers, this method offers flexibility because they can choose the shopping method that’s most convenient for them. Meanwhile, for businesses, it’s an effective way to reach a wider market.
Tips for Successfully Opening an Outlet
To ensure your outlet is successful and sustainable, there are several things you should keep in mind. Check out these tips!
1. Choose a Strategic Location
Choosing a strategic location can contribute to an outlet’s success, as it allows consumers to easily access and find it.
A location can be said to be strategic if it is close to highway access or busy centers such as campuses, office buildings, or housing.
Apart from that, also pay attention to the visibility and legality factors, OK!
2. Determine the Interior Theme
Every brand typically has an image that defines its identity. One prominent feature is its use of color.
Well, you can use this image as a color template for the outlet’s interior theme so that customers will associate it more with the brand image you’re building.
For example, Pertamina is synonymous with the dominant colors red and white. You can recognize it even from a distance, right?
3. Optimize Price
You might think that to get a lot of customers, the prices offered must be kept as low as possible.
However, this pricing strategy doesn’t always work. There are many other factors to consider, such as quality, brand image, and the impression you want to convey.
Therefore, the key is to set an optimal price, neither underpricing nor overpricing.
4. Provide Good Service
Good service can create customer satisfaction and keep them coming back. Therefore, train all employees to provide excellent, responsive, and solution-oriented service.
Make sure customers leave your store with a positive and memorable experience.
5. Leverage Technology to Expand Market Reach
In today’s digital era, the use of technology can help expand market reach.
Yes, this is similar to how to build a combined outlet type as explained above, you can optimize the use of social media and marketplaces.
6. Invest in Local Advertising
If your target market is a specific area, you can use local advertising media to help market your product.
For example, print ads in newspapers, radio spots, billboards, or endorsements from local influencers. But the most important thing is to ensure you track and evaluate the results to see which ones are working and which ones aren’t.
7. Manage Finances Well
Finally, to ensure the outlet you run can survive, you need good financial management.
Make sure you can “turn over” the money and don’t mix it with your personal finances. Equally important, be sure to record every transaction, both income and expenses.
Thankfully, Labamu now has the ability to record all transaction details, track inventory, and even provide QR codes. There are many more features, so download the app now from Google Play or the App Store. dan rasakan manfaatnya!
