For any retailer, keeping your merchandise consistent across the board is key to developing a loyal customer base. This means keeping everything along the same price point. Or you can have a range of price points as long as you have plenty of variety in every price point. Just make sure that all of your merchandise reflects your customer base and your store’s goals.
The merchandise that you carry is essential to your store’s success. If you are a discount store, people will expect discount prices and every item should follow suit. For boutiques, every item should be of the same quality and be within the same price point range.
When a customer walks into a high end store, they are looking for a certain caliber of product. So don’t feel the need to offer items that are of a lower quality to cater to the masses. Remember that a boutique business model is designed to offer higher end products so that sales are of bigger ticket items. Quality sales overrule quantity in this type of boutique so you want to keep those higher end customers happy.
Another trap retailers fall into is raising prices on lower quality items to keep everything consistent in the price spectrum. That can be more dangerous than anything because if your item quality at a boutique is lower, you will ostracize your core customer base.
At the same time, if you have a discount store, don’t offer things that are too expensive because your customers are expecting that everything within your store should be a deal. They are expecting everything to be affordable even if that means not offering larger big ticket items within your store.
So pick a merchandising level and stick with it. And then make sure everything in your store is consistent with that level right down to your mannequins, bags and racks. Keeping your space constant and on the same luxury status will put your customers at ease that you are a quality boutique or that they are indeed getting a good deal at a discount store.
nice to be here…. thanks for share