Staying profitable in today's competitive market can be tough. Small business owners must constantly be looking for new ways to cut costs and increase sales in order to compete with their larger counterparts. If you are looking for a simple way to reduce the amount of money your company spends on overhead costs each month, while simultaneously increasing retail sales, then a closer look at your company's lighting system might be in order.
Here are three benefits you can enjoy when you upgrade your retail lighting.
1. Reduced Energy Costs
Upgrading the lighting system in your retail space to feature LED light bulbs can save you a significant amount of money on utility costs each month. LED bulbs require less energy than their counterparts to produce the same amount of light, which means you will be using less energy to keep your retail space lit.
The key to an LED bulb's ability to save energy lies in its cool-to-the-touch technology. Unlike incandescent bulbs, which release 90% of their energy as heat during use, an LED bulb loses no energy by emitting heat when it's turned on. Upgrade your retail lighting system to include LED bulbs, and start saving money on energy costs each month.
2. Enhance The Customer Experience
You want to make an impact on your customers so they will remember your company in the future. Creating a lasting impression can be achieved by ensuring that your retail lighting system is conducive to the personality profile of your customers.
If your small business sells products that are designed to induce a state of rest and relaxation, you will want to invest in bulbs that produce warm, uniform light. If your products facilitate outdoor adventure, your lighting system should feature spotlights that create contrast in the space.
Studies show that a customer's personality profile affects the type of lighting they prefer, and you can use this knowledge to your advantage when it comes to creating a commercial lighting system that will enhance the customer experience in your retail space.
3. Increased Sales
Making the choice to install a dynamic lighting system which can be altered with the push of a button could help increase sales. One study showed that a dynamic lighting system which allowed employees to alter color, tone, and lighting intensity contributed to a 1.93% increase in basket sales.
Incorporating a dynamic lighting system into your retail space could help you achieve the same level of growth, resulting in a nice increase in profit for your small business.
While lighting might seem like an insignificant factor, the type of lighting in your retail space can either help of hinder your small business. Update to LED lighting to save money, install lighting that reflects the personality profile of your target audience to enhance customer experience, and invest in a dynamic lighting system to increase sales. Contact a local outlet, such as Buy The Right Light Co, for further assistance.