It is important to understand whether your store will benefit from an upgrade if the existing space can accommodate your new builds. A store owner must have the right budget before investing in a renovation. The average retail store remodels cost is around $ 50 / $ 40 per square foot, but it can be more or less depending on what you choose to include.
If your store renovation involves changing the lighting structure and adding more sophisticated lighting to your store’s ambience, be prepared to spend more, and the look and feel of your store can change substantially. A store remodel is a big step toward improving the look and feel of your store.
We highly recommend hiring a reliable and reputable contractor to ensure that your retail store renovations are done correctly and quickly. Discuss your concepts and target audience with an interior design consultant who will listen to your ideas and provide expert advice on the best options for your retail space.
If you’re considering renovating your store, our complete guide can help you succeed no matter how big or small, close or far your plans are. To keep your retail store renovation smooth, we’ve included these tips to help you through this exciting time.
The right renovation can benefit your retail store in many ways – whether it’s increasing the size of your store, adding new wardrobes (for clothing stores), breaking unnecessary walls, installing a new floor – etc. Whether it’s part of a business rethink or a way to increase sales – the right remodel always works for the business.
Updated retail space can be the key to attracting new customers to your brand, preparing for the future of trade, and ensuring that your brand can remain as competitive as possible. However, in the long-term, retail space will need to be redesigned and refurbished to function efficiently, with permanent and design decisions for the new norm. These retailers will have to fundamentally change their commercial and hospitality interior design paradigm to win back loyal customers, and commercial contractors will play a vital role in renovating retail space to accommodate these new measures.
While brick-and-mortar stores are already having a hard time with the advent of online stores, these stores cannot afford to lose more customers. One of the main questions retailers often ask themselves is whether they need to renew their existing retail space. The most common reason is to keep it fresh and new and make better use of existing space. Every retailer will sooner or later want to change the area of his store even if he planned the layout from the very beginning. This also applies to office interior design as the space needs to be updated to meet the changing business requirements.
Retailers can make the most of their space by assessing the needs of their customers and then adjusting how the space is designed to flow. Your store remodel project should guide shoppers through the retail space with a strategic approach to the refurbished store and what you want to convey when they enter it.
It is essential to grab the attention of potential customers before they even enter your store so that they can have a first look at your products inside the store and any promotions. Products and services offered in your store or boutique should be presented within a well-thought-out and functional floor plan that should also be pleasing to the eye.
Once you have an idea of what your store will look like, determine what you need to buy for the renovation. You can take the next step now that you know what to purchase when planning your store remodel budget.
Renovating your store can help you improve sales and employee morale, increase revenue, and create a buzz that will attract new customers and generate excitement in your current customer base. By investing time and money in a renovation project, you make it clear to your customers that you are confident in the longevity of your business. Keep everyone informed and help customers prepare for a new shopping experience by announcing the renovation via social media and email.
The shop remodel is an excellent opportunity to rethink your communication in the shop. Understanding how your customers’ values and behaviours have likely altered during the COVID crisis will help you gauge the necessary changes to the design and flow of your current retail space. The first step is to determine why you are renovating and whether the changes you are making will allow you to stay ahead of the competition and improve the quality of your store’s customer experience.
The scope of your renovation project will depend on the goals you set for yourself and the current state of your retail space. If you plan to run your store even during the renovation process, it is important to establish strict timelines. Certain large scale remodelling projects can definitely take a retail space for days or even weeks.