Louie Dale Construction Ideas: How Remodeling Can Enhance Your Retail Business

Remodeling your commercial retail space can be a tough decision. Obviously
you want to improve your store and provide the best possible shopping
experience for your customers, but the upfront cost can be staggering.

While the decision to remodel needs to be carefully planned, there are some
important benefits to remodeling your retail business.

The Benefits of Remodeling a Retail Business

Increase Total Sales

One of the most important studies on remodeling in retail businesses
actually comes from Australia, specifically

Monash University

. This study looked at the effects of store remodeling on both new and
existing customers by looking at transaction data of two anonymous
retailers. What they found supports the long-held assumption that
remodeling provides a boost to sales, at least on a temporary basis. After
looking at the data, it was found that retail sales increased by nearly 50%
after retail stores are remodeled.

Increase New Customers

There is also a strong reason to believe that new customers are increased,
suggesting a potential long-term boost to sales, as new customers can
potentially become long-term loyal customers. The study from Monash
University found that after remodeling a store, sales to new customers
increased by 43%. According to the study’s leaders, remodeling can be seen
as a form of marketing, bringing in new customers while helping to retain
existing customers.

Enhance In-Store Experience

Remodeling can also be used to enhance the in-store experience for your
customers, which could contribute to a boost in sales. When a commercial
remodeling project in a retail store is executed correctly, customers have
an easier time finding the items they need, generally feel more welcome,
and tend to spend more time shopping, which can lead to higher sales. By
providing a great in-store experience, customers are also more likely to
return.

Improve Efficiency

Remodeling a retail space is not just for the customers. In fact, many of
the benefits are for the employees. A remodeling project can make the space
more efficient for employees, creating greater productivity while
(hopefully) making the job easier for the people who work there. Perhaps
spaces such as an employee break room or lounge could also be added to
increase employee moral and enthusiasm.

Makes the Store Up-to-Date

Perhaps one of the best reasons to remodel your store is to simply make it
modern and up-to-date. This is both from a style and design perspective as
well as a technology and effectiveness angle. If you have old, outdated
styles and colors on the walls or ceiling, what does that say about your
business as a whole? If you are using out-of-date transaction systems,
perhaps new technology would make your store more efficient and organized.