Closure of businesses (Retail shops) in Solwezi whose to blame?
Is it businesses failing customer preferences or customers are failing to meet business owners preferences?
History of businesses that have recently closed in Solwezi.
1. Hazida
2. Wool Worth
3. Studio 88
4. Jet
5. Mr. Price
6. Carnival furniture
7. Wimpy
8. Kwesu
9. Times Cafe
10 Channel four
And many others not included on the list.
Why most businesses in Solwezi collapse :
Here are some of the reasons from a carried out research ;
1. Lack of feasibility study of this market by those coming to do business here; this is what is providing a mismatch of consumer preferences. No customer is willing to buy what they can't afford!
2. Making a pilot project business into a main business. They don't treat new businesses opened in Solwezi as a pilot project they rate them as a full time business and give it a high target because of Solwezi being perceived as a town with people who have a lot money to dispose!
3. Employing play boy and play girls as managers with no vision on how to make business a success!
5. No understanding of where to place the business. Even when rentals seem to be high especially at malls they still want to rent a place they cannot manage! Wage bill beating sales!
6. Not paying attention to daily sales rates, weekly rates and monthly sales rates that reveal which products or brands are the fast moving lines and in what quantities are they ordered into the store and how much sales basket are customers buying?
This provides key performing indicators (KPI's) and in turn gives decision makers a picture of what they need to focus on more!
In business there is need to look at successful performing factors (SPF).
7. Opening businesses with a short term view (too much expectantion of having return on investment before the business is appreciated by clients).
Solwezi is a fragile business environment yet hostel in it's nature. You come here without vision you will go back faster than you came!
Solwezi is not a dump site for what you think people will buy, take time to study the behavior of consumers here.
How has ShopRite survived?
How has Zambeef Survived?
How has Kachema Survived?
How has Jaids Survived?
How has Janki Survived?
The list is endless. Know your customer before opening the business. When you know what income they dispose per day, per week or per month, you will know which building to rent.
Today we have Antheneon that has opened its business far from the central business place but an influx of customers walk and drive there because they have customer preferences. Today Zambeef has three outlets here in Solwezi from a small rented shop!
REASONS WHY THESE FIRMS ARE STILL SURVIVING :
Solwezi is a lucrative market if you know your customers!
Have the right products and price customers will follow you wherever you will be!
Work with this marketing strategy A. V. A
A for Availability. Stocks must be available all times
V for Visibility. Merchandise must be visible
A for Affordability. Price must be manageable
A lot will close and more will open! Engage consultants who know Solwezi and northwestern like there own child. You engage a pilot consultant from other region and gives you a futile assumption and you trust that?
You will close too!
Remember we write ✍️ to educate and not to impress!
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