14 Retail Examples For Running A Successful Business
Seeing other retailers doing well in their industry is a great way to get inspired. For this post, we will look at some of the top-performing retail examples and what they do differently.
In this post, we’ll explore the success of several retailers (primarily small and medium businesses) from various industries.
We hope that you will be bursting with ideas for improving your business by the time you are done reading this article.
Some fashion and accessory stores
Do you own a boutique? Many companies in your area can help with retail and e-commerce. Here are some successful retail examples:
1. Gossamer & Grace Bra Fit Studio: This great store carries bras for all women, regardless of their age or size.
Kelly Franko, Gossamer & Grace Bra Fit Studio founder in Cortland, OH. Kelly had watched her mom struggle to find a good-fitting bra for years, and she decided that it was time to take action.
Gossamer & Grace Bra Fit Studio is more than just a bra store. It has the best selection of bras, and it also provides professional fittings to ensure that you are getting precisely what you need.
Ensure that every woman who walks into your store has a curated selection of products and customer service like no other.
Kelly’s research has shown that people often feel unhappy with their looks. Once you offer them bras and clothes to help support their image, it changes how they think of themselves. It’s a great way to serve others.
2. Solfire: The company is trying to build a tight-knit community with its employees.
Solfire is a Brooklyn-based active retail example. This company launched just a few short years ago. Their goal? To create an athleisure apparel brand with strong customer loyalty and product value for people passionate about fitness.
It’s not just about their great products but also how they work to build a community. They have an area for clubs in their store that are members of Solfire and can use the equipment there.
This retailer also established a community board to showcase all the studios, places people sweat, and nearby attractions.
Solfire also does an excellent job of gathering customer information by handing over their iPad POS at checkout. This way, shoppers can fill in all the necessary personal details to make future engagement easier.
Solfire has a near-perfect customer engagement rate. Their data shows that nearly 100% of shoppers input their details so Solfire can stay in touch and inform them about what’s happening within the community.
3. Dresden: A company that sells eyewear products and creates sustainable frames.
Another good retail example is Dresden, which upcycles plastic waste and discarded fishing nets to make eyewear. They sell them at affordable rates, which means you can look good while doing your part for the environment.
Starting at $49, customers can get their glasses made in-store and choose from a wide variety of frames. They even have the option to design something that is uniquely theirs.
- You might not think that your product is as important as the experience you provide, but take a moment to consider what it is about your business and the products that set them apart. Use this information to improve how customers perceive their interactions with you.
- Think about how you can connect with your community. Can you hold classes or events? Maybe offer in-store facilities like Solfire’s smoothie bar.
- Personalization has been a trend gaining traction over the last few years. This means giving customers options to make their products and services, like letting them choose what they want in order or where they can go on your website.
Examples of retail homeware stores and gift shops
If you’re in the business of selling household items or gifts, then these are some other stores that might be worth looking at.
4. Christmas Elves: a store that grew 250% in three years
Christmas Elves is a store that sells Christmas trees, lights, decorations, and costumes. The owner always loved the holiday, so when he had an opportunity to buy his retail shop for it, all Jason McIntyre left his job as a software architect.
Jason was a pretty successful guy. He implemented some genius ideas that helped the company grow, but we love his innovative reports and data to help make decisions.
The best way to know how well your products are selling is by looking at the sales figures.
“I have to place my Christmas orders in January or February each year, so we pretty much get one shot at purchasing. It’s a bad idea to under-purchase because I would be missing out on potential sales. But if I buy too many or the wrong types of products, then I’ll have to look into discounts and promotions.”
That’s when Jason uses sales and velocity reports to help him figure out how many units he should order. Sales spikes are always a good sign, but the team also looks at which products sell more than others.
Jason says that he looks at sales velocity reports to determine which products sell well and what items should be ordered. He also researches related goods for the store.
5. MyDIY.ie: a retail store that sells all sorts of home improvement items
If you’re looking for home DIY inspiration, then DIY. i.e., is the place to go.
Whether you’re looking for power tools, wood care, decorating supplies, or workwear, MyDIY has everything covered.
Alan Grant, the owner of MyDIY, attributes some of his success to good inventory management. He says he has seen a 30% year-on-year growth and believes this is due to smarter inventories.
Retail practice we love
To expand its product range, the company used a top-down approach. This led them to grow substantially.
“I’ve expanded our range by about 40%, but we haven’t increased the size of our inventory because, you know, it’s just not worth keeping a bunch of stuff on hand.”
When we started our store, the only options for hammers were three. We quickly learned that if customers had more choice in their purchase, they would be happier with what they bought and might return.
They offer double or triple loyalty points for items they want to move. It’s a great way of getting shoppers in the door.
Using this strategy, retailers can avoid offering huge discounts and still get shoppers into the store. It’s also worth noting that these incentives are linked with their loyalty program, encouraging them to buy more.
6. TheSuperCool: a gift emporium that curates exciting objects from all over the world
The Super Cool Store is a Melbourne-based retailer that has been in business for six years. They have three branches: one brick-and-mortar store, an eCommerce site, and a mobile shop.
We are really into TheSuperCool’s dedication to “supporting small business makers that offer organic, fairtrade, and handmade products and helping their small family businesses grow.
TheSuperCool is also great at listening to their customers, and they use social media to get the word out.
We’ve been in business for nearly six years, and we began as a mobile emporium that went to the people. When we first started, the only thing that mattered to us was getting people’s attention. We would use social media and surprise our fans where they could find us next. Nowadays, not many people are up for a challenge, but it’s important because what is retail without suspense?
Now, we have 30-odd pop-ups in various locations. Some are only open for two days, while others run 12 months! We now offer an entire retail space within the iconic South Melbourne Market (SO: ME Space). And in just two years, we’ve expanded into TheSuperCool Kid (offering all those SuperCool families an opportunity to shop!).
- Forecast demand by paying attention to how quickly your products are selling. If you notice that they’re not moving, check out the reports and see if it’s time for a sale.
- You might be wondering, “What’s the best way to get rid of all this leftover inventory?” Loyalty is your answer! When you implement a loyalty program for customers, they will want to come back and buy more from your store.
- You might be surprised to find that supporting businesses with a solid moral compass will ultimately help your business, as more and more shoppers are seeking out companies who focus on being ethical and authentic.
Examples of sports and outdoors retail
Are you looking for some good examples of outdoor and sporting goods retailers? Well, here is a couple that you will enjoy.
7. The Brisbane Lions: Integrating both online and offline retails.
The Brisbane Lions is an Australian football club that has many fans all over the country. The team’s matches are always popular, and their popularity shows no sign of slowing down.
“In the beginning, we used paper vouchers that could be redeemed for discounts at stores. The only problem was that customers were able to use them twice – once online and again in-store,”
Ben Kerswill, General Manager of Consumer Business, explains.
This is where the new BigCommerce system came in handy. The old POS didn’t have a process to sync voucher data, but that’s not an issue with this company.
8. The Saskatoon Blades: This store takes fan appreciation to the next level
The Saskatoon Blades is a central junior ice hockey team that currently plays in the Eastern Division of the Western Hockey League.
The Saskatoon Blades make it a point to keep their fans engaged by giving them access to the team’s social media. They also have great merchandise and offer promotions tailored for both customers and loyal fan bases.
9. Sitka: A surf store that has a conscience. They sell clothes and other products from sustainable, eco-friendly business practices.
Sitka was founded in 2002 by two friends who shaped surfboards out of their garage. Sitka now designs and sells clothes and outdoors goods that are sourced responsibly.
10. Rockets & Rascals: a bike-shop-slash-cafe that helps people fall in love with cycling
Rockets & Rascals is a bike emporium and cafe in the UK that has high-quality bikes for sale. The store also serves coffee, which is arguably their true passion! They want to share their love of biking with interested people.
One of the best things about Rockets & Rascals is their loyalty program. The retailer uses a simple system where shoppers get points for every dollar they spend, redeeming in-store or online.
Best of all, this store doesn’t use the traditional card. The entire loyalty program runs on their POS platform, and customers need to tell a cashier who they are to earn or redeem rewards.
- When you offer a wide range of products, each with its own story and purpose, shoppers will be more likely to buy from your store. When they can relate to the stories behind these items, they are much less inclined to go elsewhere.
- Do you know what would be cool? If you could, go to the cashier and have them scan your phone. It’s so much easier than having a physical card in hand, plus there are tons of benefits!
Retail examples in the food and beverage sector
Here are some F&B companies that have unique products and retail strategies:
11. Grain & Vine: A wine and spirits retailer that offers an upscale selection.
Grain & Vine is the perfect place to go for anyone who wants to drink better. They have wines from all over the world, so there’s always something new and exciting in-store.
Grain & Vine currently has ten employees, two locations in New York City, and an online shop.
Grain & Vine is an omnichannel retailer. They are on the front lines of retail, selling in-store and online with same-day delivery apps like Postmates, Minibar, and Drizly.
They’ve got all their sales channels set up to sync inventory and product data across the board.
With so many sales channels, how do they manage to keep up? The answer is tight integrations. Grain & Vine takes advantage of Shopify to maintain its competitive edge.
The two systems, Grain & Vine’s and the delivery apps like Postmates or UberEats, can “talk” to each other. This way, when orders come in at the store, they’re automatically synced with both their physical and digital stores.
12. Collingwood Olive Oil: This is a new type of store that combines olive oil and balsamic vinegar tasting bar with the retailer.
Collingwood Olive Oil is a husband and wife company founded in 2014. They import the freshest extra virgin olive oils from Italy and sell natural balsamic vinegar.
Collingwood Olive Oil is committed to providing a stellar customer experience. Customers can taste any product before buying, and employees are well-trained and trustworthy experts on the products they sell.
Collingwood Olive Oil has earned many awards, including being voted the best new business in Collingwood and the #1 retail shopping place by TripAdvisor.
- If you’re selling food and beverages, let your customers experience them for themselves by letting them taste test. This will be a fun way to help shoppers find the best product that suits their needs!
- When you’re selling on multiple channels, there’s a good chance that more of your customers will come back to purchase again. A study found that 73% of shoppers use different channels throughout their shopping journey, and they are the most loyal kind.
Examples of electronics retail
Now it’s time to talk about the high-tech, flashy stuff. If you’re in the market for an iPhone or a laptop, these are our favorite stores.
13. LifeLine Repairs: This big chain store can fix your electronics, so don’t be afraid to stop by if you need something fixed.
LifeLine Repairs is a chain of stores that repair electronics. They have over 20 locations and offer services for smartphones, tablets, computers – just about anything you can think of.
LifeLine’s strategy is quite impressive. With 20 stores across the US, LifeLine has balanced being consistent with its brand and still catering to each region.
Kestas Masanauskas, the Chief Operations Officer at LifeLine Repairs, explained that their consistency is achieved by standardizing and centralizing all processes.
They also have a standardized procedure and provide guidelines for information like how to store inventory, what equipment is necessary, etc.
In the past, they’ve been very successful with this strategy. In their most recent example in Rochester, New York, Kestas and his team invested a lot of time researching what it would take to succeed there. The result was a unique campaign focused on personal connections rather than advertising.
One of the stores that LifeLine Repairs opened in Boise, Idaho, was a massive success because they had established an incredible biking community. They ran events where people could borrow bikes for free to grab their attention.
14. Sennheiser: This brand has found a way to bring the sound experience into their retail stores by providing customers with headphones that allow them to hear what they are shopping for.
Sennheiser is a German company that has been around for over 70 years and specializes in designing, producing, and selling consumer-grade audio products and high fidelity.
Sennheiser has been around for a long time, and they’re known to have these fantastic concept stores in various parts of the world. But one that we like is their pop-up store at SoHo (in New York City) from 2016. They set up this temporary retail space with all sorts of excellent Sennheiser products.
The press release claims that SoHo’s new store has been designed to transport guests sonically and visually. You can hear the city buzz outside recede as you enter through a sound tunnel, accompanied by what you see inside.
After walking through the tunnel, visitors are greeted by a large screen that displays Sennheiser’s logo and gives some background on their history. Visitors also see how they want to shape audio in the future.
- If you’re looking to expand your business, be sure that the branding of each store is different enough, so it’s not too repetitive.
- You can add to the experience of your store by finding ways for people to feel like they are entering a new world when they walk in.