X tips to remodel a retail fashion store and increase its real estate value

Now that more and more consumers are using online shopping to purchase goods, the appearance and ambience of physical stores and the retail design is more important than ever. Retail store remodeling could be an expensive investment but it will surely pay out in the long run. Having a modern and trendy interior and exterior design of your retail fashion store is significant for the whole brand experience of your customers. Consumers who are still using the brick and mortar stores are doing it for the experience rather than the product itself as this is something they can easily obtain via e-commerce. 

In order to stay on top of competitors and increase the value of your retail store, it’s not enough to only perform cosmetic changes but rather to consider a full store renovation. This is surely a big project and requires good planning, budgeting and timely execution as most likely during the renovation period your store will remain at least partially closed and the loss of sales for that period should also be considered. 

There are some useful tips to review when starting to plan your retail store remodel.

Choose the correct floor plan for your space which best fits your products

A well-chosen and correctly carried out floor plan can ease product discovery, improve product visibility, create a pleasant customer experience and ultimately bring more sales.Shoppers don’t like overcrowded spaces, so make sure you leave enough space between the aisles. 

One option you can choose if you want your shoppers to move in a particular path rather than just wandering around is the loop plan. Another option is to go for the angular plan which creates a more sophisticated vibe as the focus is on fewer popular items. It creates a more spacious feel and draws the customer’s attention to those fewer items. A popular choice among clothing retails is the geometric plan which uses racks and shelves to display items. Lastly, if you are after something more unique, you can choose the free flow plan which encourages browsing and allows for a variety of display units. 

Lay out the customer journey and position displays strategically 

The entrance of your store is your opportunity to get the shoppers interested and walk into your store. Make sure you display new items and change them regularly and create a welcoming vibe. Make sure that best sellers and high-profit items are displayed at eye level as the eye is drawn to them instantly. Leave out the clearance section for the back but make sure it’s easily visible. This will encourage shoppers to walk right into the back of the store, which otherwise is very unlikely.  And don’t forget to position displays of small items and accessories near the checkout area as that’s where most impulse purchases happen. 

Consider updating the lighting 

Lighting updates is a cost-effective way to increase the value of your store.Installing suitable lighting in your store is crucial as too much light or too strong lights can be off putting to customers and this might discourage them from entering the store in the first place. However don’t make the store dull as properly lit-up items are more likely to get purchased.It’s all about the correct positioning of the lights and their intensity. Also consider the fitting room lightning as that’s often the place where the final purchasing decision is made. 

Use appropriate color combinations to your advantage

It is not a myth that different colors evoke different emotions and feelings in the human brain. This is why using the correct colors in your branding and interior design is significant to the success of your store. Before choosing the colors for your furnitures, fitting rooms, in-store branding and wall color take a look at the color psychology. If you are looking to evoke cheer and happiness in your shoppers, go for yellow. If you want them to subconsciously feel trust in your store go with blue. Green is an option which gives a relaxing and calming vibe, while red gives off a more energizing and up-beat ambience. 

Invest in digital and interactive experiences

With the increased use of technology across all age groups, people are now expecting to find something digital even in the physical stores. The shoppers who are actually visiting the physical stores to purchase clothing are not looking for quick in and out experience to get a white t-shirt and a black pair of flats they need. They want and expect something more which will make them come back to the store and not choose the convenience of online shopping. One good option to consider is adding digital boards in the fitting rooms where customers can press a button to request a different size/color of the item they have in hand by scanning the item and having a member of staff to bring it. Another option to implement could be by scanning a product to have a selection of other products appear which are a good match to give you ideas for a full outfit. 

Before starting the remodeling project it will be very beneficial to create a mock plan, maybe working with an interior designer and have everything on paper. That’s an easy way to revise your initial plan and make changes accordingly until you’re satisfied with the final version. Put yourself in the customer’s shoes and think about what the customer is waiting to see and try to plan according to their perspective. 

Finally but surely not the last thing to consider is budgeting. After outlining your particular remodeling projects, get some quotes and compare if it would be more cost effective to get a contractor to complete all the jobs or find individual experts for each job. In case you don’t have all the available funds and you are considering taking out a loan, have in mind that if you already have a mortgage that might impact the amount you can be given. 

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