There’s a belief that building a stellar in-store experience means a big investment. Some might view this big investment a barrier to exploring initiatives to improve the in-store experience - and so it falls to the wayside. Indeed, in times of limited budgets, retailers often prioritize the necessities of operations rather than experiential retail initiatives that might improve the in-store experience. But a well-thought-out, compelling in-store experience doesn’t have to come with a big price tag. Here's how to make the most of a limited budget to build an outstanding in-store experience.

1. When it comes to your displays - think flexible!
A limited budget means you have to be selective about your expenses. Multi-purpose display elements can be a great way to optimize your expenditure by providing flexible design options. For example, a floor display can function as a stand-alone, but if designed right, it can also include a header that dismounts to be used on the wall as branding or arms and shelves that can be taken off and mounted on wall slats for additional product displays. Expandable, retractable, detachable display elements can be regularly reconfigured to provide a fresh store design and breath new life into your retail displays.

2. Work with what’s already there
Every store has design elements already in place. An easy way to update a store on a tight budget is to refurbish already-existing store elements. A fresh coat of paint does wonders--so do printed graphic kits. Redesigning existing displays and wall structures could help you achieve the effect you’re after, without a huge investment. Or think digital - a media screen that displays engaging content is an easy addition to existing wall mounts and can provide versatility to a stale display. Once implemented, you’ve opened the door to display real-time information, and you can now get more creative with your content.

3. Downtime isn’t always deadtime
If your budget is frozen, that doesn’t have to be dead time. Down-time on developing and managing products provides a great opportunity to pause, reflect, and explore new approaches for the future. Use your time to reflect and brainstorm--boredom is the mother of invention.

4. Test, Try, Expand
There’s no need to embark on an entire store redesign all at once. When the budget is tight, it might be worth testing out new in-store experience initiatives in a handful of store locations across markets to explore their effectiveness. If the new store designs are successful, you have a solid case for adjusting your budget the following year to expand the program and revamp more stores.

5. Collaborate with competing brands
You may not necessarily think of collaborating with your competition - but you may be more motivated if it cuts your budget by a third. For example, if three brands make lacrosse sticks. perhaps they collaborate on a "lacrosse stick display system" to go inline, on walls, or freestanding in sporting goods stores and lacrosse specialty stores. This is an effective way to grab a shopper’s attention who is interested in the category, and each brand only pays a third of the cost of the system.

6. Find budget in other areas
Some companies can access new buckets in the brand’s budget for retail initiatives by reclassifying the spent under a promotional campaign or product launch. In other words, the costs for a new retail display becomes a ‘promotional messaging center’ which taps into the company’s promotion budget, instead of the retail marketing budget.

7. Collaborate with your partners
There are many creative ways to get the most out of your retail investment and working with your display partners, you should be able to optimize your budget. Display companies are equipped to investigate all the best fixtures, designs, and materials to maximize effect while minimizing costs. When your design needs are specific and clear, it’s an opportunity for your partners to get even more creative on the execution of your retail initiative.