Please Advice...family suffering...
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Dear all, I know that there probably are a lot of you who understand my plight.
I'm a single mother with 2 little boys, age 2 and 5.
I run a small shop in Far East Plaza selling womens' accessories which I managed to source from thailand.
Business used to be good, with the ability to feed my family and myself with a monthly income of about $2000+ after rent and utilities.
Recently, I'm suffering from extremely low sales. In Febuary, I made only $460 after paying off everything.
Some of my customers have been telling me that a lot of people are opening online shops which sells the same things as mine, only difference is much lower in price.
They don't have overheads like us, physical business owners, that's why they are able to sell so cheap.
My family is very much affected by this trend. I'm not even sure I will be able to survive this for long.
My ex-husband left me this business and I only have sec 4 education. In times like these, getting a job will be near to impossible.
Please advice me, dear good samaritans, on how do i compete with these online shops.
I don't wish for them to suffer too, but is there anything I can do so that customers don't mind paying the few dollar difference and come to my shop instead.
Please help. I'm desperate...
Thank you. -
maybe you can also open an online shop to test market?
just put items on your blog and sellfor an O level cert holder, your English is very good
if this is any consolationyou must be quite smart
be encouraged
å¤©æ— ç»�人之路 -
TS åŠ æ²¹! When there's a will... there's a way.
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Originally posted by TehJarVu:
maybe you can also open an online shop to test market?
just put items on your blog and sellfor an O level cert holder, your English is very good
if this is any consolationyou must be quite smart
be encouraged
å¤©æ— ç»�人之路
To be honest, I did consider opening up an online shop.But I'm not really savy in that field. I do surf the net, but not to the extend where I can create webpages with ease.
I've been discouraged too when others tell me that there are more than a thousand local blogs or online shops operating and more than a million around the world.
I don't have the luxury of putting in money to pay for services like that anymore.
Thanks for your compliment. I've made some mistakes in my life when I was young, that's why I dropped out of school.
I just like to read a lot.
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There's nothing wrong with not having a proper education.
As long as there is determination. You can do it.
By the way the blog spot can be done free...doesnt need money.
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if u dun mind, PM me ur shop name and shop address..or if possible, got pics of your wares? Maybe i'll go check it out as a mystery shopper and see if you are indeed in need of publicity/advertising..
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start a blog online to sell your stuff? sometimes if you cant beat them join them?
or focus on retraining staff in their customer service and product knowledge so that they will go the extra mile for your customers especially your regulars? the downturn is a good time to channel resources towards retraining staff.
anyway good luck.
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Thanks guys, I really appreciate all your advice.
I'm aware that you guys gave them with only good intentions at heart.
But I really need advice from people who have overcame the odds.
I don't have any staff and my service is pretty straight forward- Always have the mindset that customers are doing you a favour by buying from you. Treat them with lots of respect and in turn, they will sense your integrity and sincerity.
But unfortunately, price has and will always be a key factor when it comes to buying.
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why don't you try out the online market too... while keeping the physical store in FEP.
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Essentially, businesses compete through price, product and service. From these three factors, do you have an Unique Selling Proposition (USP)?
If you do not wish to compete on price, then you have to examine your product and service. Assuming you are selling a low-value product ( < $20), then service is less important. Therefore, you should look at your product. What is so unique about your product that people must buy it from you? If you have a unique product where there is demand but no one else is selling in Singapore, then you have successfully found a niche and that is your Unique Selling Proposition (USP).
The above is just based on varying the product component. There are many possible variations within the product factor, as well as the price and service factor. Being flexible is an important factor in business.
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Originally posted by utterly_disturbed:Dear all, I know that there probably are a lot of you who understand my plight.
I'm a single mother with 2 little boys, age 2 and 5.
I run a small shop in Far East Plaza selling womens' accessories which I managed to source from thailand.
Business used to be good, with the ability to feed my family and myself with a monthly income of about $2000+ after rent and utilities.
Recently, I'm suffering from extremely low sales. In Febuary, I made only $460 after paying off everything.
Some of my customers have been telling me that a lot of people are opening online shops which sells the same things as mine, only difference is much lower in price.
They don't have overheads like us, physical business owners, that's why they are able to sell so cheap.
My family is very much affected by this trend. I'm not even sure I will be able to survive this for long.
My ex-husband left me this business and I only have sec 4 education. In times like these, getting a job will be near to impossible.
Please advice me, dear good samaritans, on how do i compete with these online shops.
I don't wish for them to suffer too, but is there anything I can do so that customers don't mind paying the few dollar difference and come to my shop instead.
Please help. I'm desperate...
Thank you.<!-- / message -->
My respect, mdm.
You don't have to create a webpage from scratch these days - could just create a blog (www.blogspot.com) and it's all just push button publishing. If you need help with creating a blog, you may send me a private message, I'd be glad to give you a kick-start.
Competition must be pretty crazy in your line, everyone's selling womens' accessories (even custom/handmade ones) these days. Why not sell clothing too? Or even bring in something more exclusive?
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Hi,
Given you have two young children and on your own, you might want to go to the self-help group like CDAC for some short term assistance, eg financial assistance, kindergarten fee waiver for your children. As you are also self-employed, and earning below $1,500, you should go see your MP and apply for ComCare and Workfare Income Supplement where you get some money once every three months of working, even selling things on your own.
CDAC also helps to provide you with trainings if you decide to look for a job. Good luck.
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hmm..
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I can empathise with ur situation, since I've been noticing lots of blogshops emerging and selling stuffs cheaper compared to shops. So for that reason alone, they've already gained an advantage.
Like wad some ppl had suggested, it's better if u could start by opening a livejournal or blogspot account, and open an online shop for free. If u need help to open an online shop, feel free to ask me. :)
Internet is an extremely effective way of advertising ur products. I think u just need more publicity. However, given the tight competition, u may need to lower ur product prices slightly lower to attract customers. Or think of more promotions, like buy 2 get 1 free. Just giving an example.
Instead of importing ur stuffs from overseas, u can also try learning making ur own accessories. Lots of youngsters like custom handmade accessories because it's unique. U may even save cost too.
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Originally posted by utterly_disturbed:Dear all, I know that there probably are a lot of you who understand my plight.
I'm a single mother with 2 little boys, age 2 and 5.
I run a small shop in Far East Plaza selling womens' accessories which I managed to source from thailand.
Business used to be good, with the ability to feed my family and myself with a monthly income of about $2000+ after rent and utilities.
Recently, I'm suffering from extremely low sales. In Febuary, I made only $460 after paying off everything.
Some of my customers have been telling me that a lot of people are opening online shops which sells the same things as mine, only difference is much lower in price.
They don't have overheads like us, physical business owners, that's why they are able to sell so cheap.
My family is very much affected by this trend. I'm not even sure I will be able to survive this for long.
My ex-husband left me this business and I only have sec 4 education. In times like these, getting a job will be near to impossible.
Please advice me, dear good samaritans, on how do i compete with these online shops.
I don't wish for them to suffer too, but is there anything I can do so that customers don't mind paying the few dollar difference and come to my shop instead.
Please help. I'm desperate...
Thank you.<!-- / message -->
move out of far east plaza to other cheaper alternative places like suburban shopping mall, hdb neighbourhoods...etc. the rental is the major factor.
cut cost on ur home/shop bills, whatever can save, save. like electricity, water, telephone, handphone...etc.
for ur kids, please approach ur area CDC and CDAC for assistance. e.g. apply any child subsidy like kindergarden/ nursery subsidy.
CDAC: http://www.cdac.org.sg/
CDC http://www.cdc.org.sg/
CDC Assistance Schemes: http://www.cdc.org.sg/1169432840229.html -
Originally posted by utterly_disturbed:Dear all, I know that there probably are a lot of you who understand my plight.
I'm a single mother with 2 little boys, age 2 and 5.
I run a small shop in Far East Plaza selling womens' accessories which I managed to source from thailand.
Business used to be good, with the ability to feed my family and myself with a monthly income of about $2000+ after rent and utilities.
Recently, I'm suffering from extremely low sales. In Febuary, I made only $460 after paying off everything.
Some of my customers have been telling me that a lot of people are opening online shops which sells the same things as mine, only difference is much lower in price.
They don't have overheads like us, physical business owners, that's why they are able to sell so cheap.
My family is very much affected by this trend. I'm not even sure I will be able to survive this for long.
My ex-husband left me this business and I only have sec 4 education. In times like these, getting a job will be near to impossible.
Please advice me, dear good samaritans, on how do i compete with these online shops.
I don't wish for them to suffer too, but is there anything I can do so that customers don't mind paying the few dollar difference and come to my shop instead.
Please help. I'm desperate...
Thank you.<!-- / message -->
As long as you do not identify your real problems and find a convenient scapegoat, you are heading for disaster.
How sure are you that your problem is because of online stores?
Have you yourself tried to buy something online?
I am shocked to read that you do not see what is staring you in your face, the economic downturn and simply blame the rise of online stores. That makes me very pessimistic about you.
What makes me optimistic about you is that you started a thread here asking for advice.
My advice for you is simple, face reality!!!!!
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Hi...
I personally do not recommend to open an online shop.....
Reason is because there are a lot of them already....there is nothing special if you open one.
If u have a physical shop, at least you get some human traffic...some people walk in and take a look and then buy some stuff...
If u open an online shop, I believe u have fewer traffic than the human traffic/ walk-in traffic.
I think it is better to have a brick-and-mortar shop.
I think, maybe price competition is one reason, but possibly also because of the recession, or "preparation" of a recession, which makes people more conscious and control their spending more.
If u can take a look around, maybe u can try to see, which shops are still having a good business. Perhaps you can think of what items u can sell other than women's accessories.
If you are convinced, then you can take action, and dont hesitate to take action. For instance, if u notice that food business is still doing good, then consider switching from selling women's accessories to opening a food stall there.
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Originally posted by utterly_disturbed:Dear all, I know that there probably are a lot of you who understand my plight.
I'm a single mother with 2 little boys, age 2 and 5.
I run a small shop in Far East Plaza selling womens' accessories which I managed to source from thailand.
Business used to be good, with the ability to feed my family and myself with a monthly income of about $2000+ after rent and utilities.
Recently, I'm suffering from extremely low sales. In Febuary, I made only $460 after paying off everything.
Some of my customers have been telling me that a lot of people are opening online shops which sells the same things as mine, only difference is much lower in price.
They don't have overheads like us, physical business owners, that's why they are able to sell so cheap.
My family is very much affected by this trend. I'm not even sure I will be able to survive this for long.
My ex-husband left me this business and I only have sec 4 education. In times like these, getting a job will be near to impossible.
Please advice me, dear good samaritans, on how do i compete with these online shops.
I don't wish for them to suffer too, but is there anything I can do so that customers don't mind paying the few dollar difference and come to my shop instead.
Please help. I'm desperate...
Thank you.<!-- / message -->
You can always sell something different from those online shops.Make sure you go and visit all these online shops, take note of the products and prices that they are selling and compared them with your current store items and products.
Do not fight the price war with them, because ultimately you are looking for profits and not charity work.
Source out different supplies with a good acumen for items which you know will be popular with your current store clients. The biggest advantage that you have over those online stores are the customer's feedbacks and the shopping behavioural of your customers. Online stores do not have overheads, but they also get little to zero feedbacks from their customers and those online business owners do not get to observe the shopping pattern and needs that the customers desire.
Take an interest in your customers and make an effort to know them. Talk to them and know what kind and type of products they are after and take their feedbacks and suggestions seriously. If your shop isn't ready to cater to the desire of your own customers, then you will lose them and it's going to be alot harder for them to swallow their pride and decide to visit your shop again. So it is going to be alot more difficult for you to attract a disappointed customer back to shop at your store again.
Make your own accessories or get someone to produce your own accessories to sell to your customers. That's usually how most people create their own brand, by selling their own creations as products.
Provide polite and extends humanely customer service to all your customers. Treat them as your best friends as their participation in the shopping inside your store is helping you to build up your own lifeline in your business.
Make sure your store is neat and tidy and not overly stocked. The store should smell nice cos that is the first thing that will greet each customers that is stepping into your store. And please no loud music or trashy singing and soundtrack. Nobody cares about what songs you like to listen to, make sure the MUSIC that is playing in your store is soft, soothing and pleasing for the ears.
So make sure your store is so up to the standards that even you (The Owner) would want to shop in your own store and no where else.
Tell us where is your exact shop location and maybe we can be mystery shopper and give you plenty of criticism for improvement sometimes.
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Originally posted by AndrewPKYap:
As long as you do not identify your real problems and find a convenient scapegoat, you are heading for disaster.
How sure are you that your problem is because of online stores?
Have you yourself tried to buy something online?
I am shocked to read that you do not see what is staring you in your face, the economic downturn and simply blame the rise of online stores. That makes me very pessimistic about you.
What makes me optimistic about you is that you started a thread here asking for advice.
My advice for you is simple, face reality!!!!!
face your cb reality, fark off you prick
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While reading this thread, I've got this crazy idea, but maybe i'm too young to give ideas!
You might want to open a blogshop, selling all your cheap stuffs inside there. From there, you can also sell cheap/small/attractive items found in your shop.
But if people want more, they can't satisfy their needs through the blogshop, you can always put direct them from your blogshop to your real shop in Far East. In the blogshop you can also inform everyone whenever you have discount in your shop?
Maybe you can design something like a "voucher", all they need to do is to print out the voucher, bring it to your shop in Far East and they can get discount from the things they bought in your shop?
Just some ideas, don't give a thought about it too seriously
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Opening a blogshop is an absolute NO NO. Unless you got a product that stands out, it ain't gotta be a significant improvement over your current predicament.
Since the shops in Far East Plaza generally cater to roughly the same product range and customer targets, maybe you can try making friends with the shop owners, learn and see what they do to make their business more lucrative than yours.
Is it their products? What is their, as mentioned, USP?
Try to identify what is their advantage and then try to compete with them using your own resources. If you still can't compete without making an indefinite loss, I would suggest talking to the management in Far East to see if they could give you some slack in rental from the time you attempt to improve your business.
Worse come to worse, move out to somewhere else. Far East imho isn't exactly the best location to shop. Its variety is pathetic and the traffic is no where as near as anywhere like Toa Payoh Hub. Try the heartlands. Its easier to access the bigger market over there.
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short advice: try allowing customisation of the accessories,giving the customers more choices and more freedom.
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Originally posted by TehJarVu:
face your cb reality, fark off you prick
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hi,
i do not think you should worry about online shops. u're a business owner, u should noe that online shops have their own problems. they have to worry about reputational risk, customers not being able to try on their clothes, customers scared to use credit card due to potential fraud - phishing, low traffic on the internet, pricing issues etc.
the way i see it, your problem stems from 2 sources : -
1) recessionary time - your business (retail) would be the first to suffer in times of downturn. its not your fault. people cannot find jobs/get paycut/ retrenched and are affected by the news that is screaming, ''recession! recession! recession!''. it is natural that they cut their spending and start hoarding money.
solution : cut your prices. if people think your products are cheap and good ( value for money), there's a higher chance they would buy your products. your net profit would be affected of course, with lower margins. right now, people look at what u offer and might think, '' chey, this one thailand oso have ..'' the point is to try to reduce prices until they think, '' aiya $XX only .. just buy lor... '' have a big sale and let everyone know about it. people always love a bargain.
2) extreme competition + exorbitant rent - far east plaza is full of retail shops selling girls clothes, accessories etc. what makes u different from others? plus i understand the rent is very high. an average shop rent is about $8000 - $10000. how many of your products do u need to sell before you cover that rent? have you thought of moving to another place? maybe a heartland mall that offers cheaper rent? (for e.g. clementi has a new shopping centre) is traffic there substantially less? far east on weekdays also very quiet. u make money only on weekends. in fact i would think heartland malls have a higher chance of getting people in on weekdays.
solution: now your cashflow has a problem - if your rent = $8000, utitlities $300 you need to make (in net profit) $13000 before you make $2000+ a month.
if you cut your rent, you have a higher chance of surviving ..
in a nutshell, if you are not bonded by contract, move. if you move somewhere else, you will have higher profit margins, lower costs and can afford to sell your clothes for less.
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I don't think the recession affects her much. The targeted customer range are usually the teenagers. These teenagers don't necessarily get hit by recession much as not all of them are working, or even so, part timers are still being employed now. So cash flow shouldn't be a big problem.