How To Create a Retail Strategy (+ 9 Examples) (2024) - Shopify Philippines

Whether you’re setting up shop or have owned a retail business for years, you might wonder if a formal retail strategy is necessary. You may rely on your intuition or gut instinct to make decisions about growing sales and increasing margins.But boosting those numbers doesn’t happen at the drop of a hat. As you scale your business, you need an effective retail strategy to guide those important decisions.Ahead, we’ll break down the core components of a retail strategy and highlight merchant examples of successful retail marketing strategies.Table of contents:What is a retail strategy?5 key components of a retail strategy6 basic steps to create a retail strategy9 retail marketing strategiesRetail strategy FAQStart selling in-person with Shopify POSShopify POS is the easiest way to start selling in-person. Take your brand on the road and accept payments, manage inventory and payouts, and sell everywhere your customers are—farmer’s markets, pop up events and meetups, craft fairs, and anywhe...