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3 Tips for New Retail Business Owners

Whether you just opened your first clothing boutique, seasonal kiosk, eatery, or other small retail business, congratulations! We love working with our local community to bring new businesses to life at Centennial. 

From training staff to developing marketing promotions, there are so many things to consider when it comes to managing your business. So, how can you set your small shop up for success right from the start? 

Read on for a few simple tips for new retail business owners like yourself to implement today:

Tip #1: Get To Know Your Customers
Building a loyal customer base is key for any successful business. Don’t overlook the importance of getting to know who your customers are: identify their demographics, preferences, needs and wants. This will help you best cater your business to them to provide the types of products and services that will keep them coming back time and time again. 

Tip #2: Get Involved
Take advantage of your location within a shopping center to get involved in center-wide offerings and promotions. From traffic-driving events to digital marketing opportunities, Centennial’s marketing team is here to help your store succeed. Besides getting involved in these happenings, make sure you also get to know your neighboring businesses - partnering together on cross-promotions is another way to grow awareness for your retail shop.

Tip #3: Get Social
While you’ve likely put a lot of effort into the physical presence of your brick and mortar space, it’s equally important to invest in how your brand shows up online as well. Social media is a great tool for small business owners because it’s free to use, and allows you to connect with your shoppers and potential new customers 24/7. Use your social media accounts to showcase new product arrivals, share sales information, and have an open dialogue with your customers.

Congratulations on opening your first retail business! The team at Centennial is here to help you each step of the way. Take time to get to know your customers, get involved within your shopping center community, and use social media to grow your business’ digital presence. Utilize these tips and you’ll be well on your way to being the owner of a thriving retail business!