Posts Tagged ‘retail tips’

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Tuesday Tip: How to Increase Impulse Buys

 Tuesday, February 2nd, 2010

Impulse buys are items that shoppers purchase that they had not planned on buying beforehand. Items near registers are not put there on accident. They are strategically placed to capitalize on impulse purchases. Usually these items are smaller, easily identifiable and priced lower than other items in your store. Though the register is a key place for merchandise, you can utilize other areas by creating special displays in high traffic locations or next to related merchandise. For increasing impulse buys, here are a few tips that we recommend trying.

Change out merchandise frequently. We have given this advice before about displays in general, but it is especially important for special displays designed for impulse buying. Regular customers look for updated merchandise, new products and featured sales. Make sure that you are regularly featuring new items so they keep coming back. Try to keep track of what you have displayed, where you setup the display and the success rate. This will help you know what works and what does not.

Highlight return policies near impulse purchase displays. Customers will be more likely to purchase higher priced merchandise on the spot when they are assured that it will be easy for them to return or exchange if they regret the decision later. Also, make sure that you clearly communicate if sales are final either with signs or at the register.

Put accessories next to related items. Accessories are great impulse merchandise sales. For example, when someone is looking for a great coat and sees scarves, gloves and hats to match, it will be too good to pass up. This also works with items that have accessories that are sold separately such as games, toys and tools.

Remember, you won’t know what works until you try it. Now is the time to experiment a bit with holidays such as Valentine’s Day and St. Patrick’s Day so you will be extra prepared for maximum sales during the next Christmas season.

What are your best impulse purchase displays?

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Tuesday Tip: How to Create Displays for Men vs. Women

 Tuesday, January 26th, 2010

Like many things, it’s not surprising that men and women have different shopping behaviors. It is beneficial for store owners to cater certain displays toward women and others toward men, depending on the item featured and the season. Valentine’s Day is a perfect time to test how creating displays targeted at gender can increase sales because both men and women will be out in search of gifts for their significant others.

You can find countless articles about the different shopping habits between men and women. I would advise glancing over a few of these because they are very interesting. You will find information such as:

  • Women spend $4 trillion annually and account for 83% of consumer spending in the U.S. (from WomenCertified.com)
  • “A man will pay $2 for a $1 item he needs. A woman will pay $1 for a $2 item that she doesn’t need.”
  • One of the most important aspects for men when shopping is checking out fast. One of the most important things for women is the experience and feeling like an important customer. (from a 2007 study done at Penn State)

Knowing some of this information, you may be asking yourself how do you translate this to your displays. Here is what we recommend thinking about when displaying for men:

  • Make sure items that your popular items for men are very easy to find and in stock. Because men have a “get in, get out” shopping mentality, they may give up at your store if they cannot find exactly what they are looking for quickly. Instead of creating cute, decorated displays we would recommend focusing on visible signage and keeping products organized.
  • Men are less likely to ask for help than women, try to make all products available on the floor. Though it may look better to display an item without the clutter of having multiples of that product, men may not go looking for that displayed product if it is not readily available.
  • Especially during Valentine’s Day, men may be a little out of their element when shopping for wives or girlfriends. To make them more comfortable, keeping popular Valentine’s Day merchandise in one area might be a good idea so they are not overwhelmed having to walk and search through the entire store.

Women are a little more eclectic in their shopping style, so you have more freedom with your displays. Here is what we recommend thinking about when displaying for women:

  • Because women love options and deals, displaying a plethora of merchandise can be advantageous when targeting women. You can utilize a mix of dump bins, tables and racks to feature lots of merchandise. Displaying products at different price points will allow women to measure their options. Most women are not overwhelmed by a large inventory.
  • Make sure that you let your female customers know that you appreciate their business and ask for feedback from them. You can do this by adding things such as comment boxes or survey slips in your store.
  • Women are more likely to buy multiple items when they can see them together. For example, when a woman is shopping for her husband, pair that great wallet with a snazzy watch.

How do you make displays more appealing to men verses displaying for women?

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Tuesday Tip: Top 5 Tips for Displaying Jewelry

 Tuesday, January 19th, 2010

The way you display jewelry is a very important aspect to generating sales. Chances are that customers are not going to know exactly what they want before they purchase jewelry. These types of purchases are personality and style based and not focused as much on functionality. That is why you must cater these displays to your target buyers’ tastes.

1. Match the display with the style of jewelry you are displaying.
The jewelry you sell probably matches the personality type of your customers. If you sell high end, one-of-a-kind pieces, then you should focus on displaying each piece in a special way. When you have many of the same kinds of pieces, than a variety of merchandise will give customers more choices.

For example, the materials of the jewelry you sell can be a good indicator of what displays are right for you. If you have pieces with precious gems and stones then we recommend using black velvet and lights to make those items really shine and sparkle. Some merchandise might be more eclectic and made with beads, smooth rocks, string and wire. Using other textures and colors in these displays could be more eye catching. Think of a few adjectives you would use to describe your jewelry inventory i.e. casual, funky, formal. Then, have your display match those describing words accordingly.

2. Utilize a variety of mirrors in several places in your store.
From countertop mirrors to floor mirrors, customers will want to view all angles of themselves. Having mirrors around encourages customers to try on pieces and that will make them more likely to buy. You can even strategically place mirrors closer to sales associate stations, so you can ask if they need any assistance. It would also be a good idea to have hand mirrors behind the counter for people to view the backs of their heads or a close up of their face.

3. Make the jewelry the focus.
Be careful not to let your merchandise become hidden by your display materials and accessories. It can be easy to get carried away decorating displays, but sometimes less is more. Take a step back to look at your display and make a note of the function of each material you are using. If you can’t think of a reason for a particular decoration, chances are you would be better off without it.

4. Think about how portable you want your displays.
If you have jewelry displayed during store hours and then put it away at night for safe keeping, then you will want displays that are easy to maintain and move. Think about the difference between stationary displays and portable displays. Stationary displays are more appropriate for stores that do most business in-house. Owners that conduct a large part of their business at craft shows or trade shows will lean toward portable displays. You may find that you have a need for both.

5. Be organized.
Customers can be very frustrated messing with tangled necklaces and bracelets. Likewise, finding a card with a missing earring is a turn off. Choose displays that will be easy for you to maintain and straighten up regularly through the day.

View a previous feature product blog post about portable jewelry displays.

How do you effectively display jewelry in your store?

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Tuesday Tip: Gear up for Valentine’s Day

 Tuesday, January 12th, 2010

You have probably noticed the Valentine’s Day merchandise already hitting the shelves. Although most Valentine’s Day sales come three days prior to the 14th, getting your Valentine’s items out earlier this year could be to your benefit, for a couple of reasons:

Valentine’s Day is on a Sunday. Historically when Valentine’s Day falls on a weekend, retail sales drop a bit. This is because instead of buying products, couples go out to restaurants and date destinations. According to the National Retail Federation (NRF), when Valentine’s Day was on Saturday in 2009 consumers spent about $14.7 billion compared to $17 billion in 2008.

The Super Bowl is early this year. With Valentine’s Day falling on the week after the Super Bowl, retailers will have to be on their best selling game. Men’s attention will be preoccupied, so getting them into the Valentine’s mood may be tricky. Start reminding them early that they need to think about the ladies in their lives.

The most popular items purchased for Valentines from the NRF include:

  • Cards
  • Evening Out
  • Candy
  • Flowers
  • Jewelry
  • Clothing
  • Gift Cards

If your store sells these items, highlight them at the front of your store, near registers and with Valentine’s Day sale signage. Appeal to men’s shopping behavior by making it easy to see items that would be perfect for their wife or girlfriend.

What is a big Valentine’s Day seller for your store?

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Tuesday Tip: Maximize After Holiday Sales

 Tuesday, December 29th, 2009

With Thanksgiving and Christmas past, after holiday shopping is in full gear. Shoppers are still looking to save money where they can, which means they are out coupon hunting and sale searching to find the best deals out there. Independent retailers are going to have to price items very competitively to drive customers toward the registers.

According to the National Retail Federation, the number of shoppers was up but spending was down on Black Friday. If you were disappointed with Black Friday and December 26 sales, there is still time to increase your December/January figures. Independent store owners can take advantage of the holiday foot traffic by effectively highlighting marked down merchandise and displays.

The key for store owners is not only to get customers into your store but to spend money there as well. The first thing to consider is communicating to roadside customers or passersby that your store is featuring sales. You have about three seconds to let people know what they can expect to find inside. Especially as mid-January approaches, shoppers will still be looking for those holiday signs. Key places for signage are in window fronts, sidewalks and by the road. Remember to keep your signs simple, direct and professional. Easy-to-read, attractive signs will relay important messages to your target market.

Along with coupons and mailers, stores will attract more buyers by featuring merchandise with store fixtures and supplies that are designed specifically for highlighting sales. We have always recommended using a mix of hanging racks, bins and shelves. Round racks and dump bins are an economical way to feature a large amount of items and do not require lots of maintenance throughout the day. Because these fixtures stand alone, they are optimal to place in high traffic areas and draw customers to a particular area of the store.

Sell holiday merchandise quickly to make room for new 2010 items. We also recommend setting goals for employees and rewarding those who are keeping a positive attitude.

Everyone have a safe and happy New Year’s!

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