Posts Tagged ‘tuesday tips’

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Tuesday Tip: Back-to-School Merchandise

 Tuesday, August 11th, 2009

Take full advantage of the second busiest buying period of the year, back-to-school time. Second only to Christmas, the National Retail Federation reported that this year’s spending is expected to bring in $47.5 billion. Kids of all ages will be out in search of the latest fashions and trends ranging from pens to jeans. Make sure your store is fully prepared for the season.

With the economy, families are still looking for value when they shop. You will want to appeal to kids’ wants and parents’ pocketbooks. The National Retail Federation also reported that families are more likely to reuse items instead of replacing them, such as book bags. We recommend featuring products that have to be purchased new every year such as notebooks and planners.

The National Retail Federation also expects an 11% hike in electronic sales compared to last year. This shows that families are willing to pay a little more for the latest trends in technology. Don’t be afraid to highlight these items just because they are more expensive than folders.

Also keep in mind different products for college students. Parents are willing to spend more money to ensure that their student who is leaving home for the first time has everything they could possibly need, including laptops, flash drives, power strips, cleaning supplies, first aid kits, alarm clocks, rugs, cooking supplies, towels, linens (extra long to fit dorm beds) and gift cards.

Now is the time to get back-to-school merchandise out on the shelves and the sooner the better! Prepare your store as well as your employees for a busy, profitable season.

How does your store prepare for the back-to-school season?

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Tuesday Tip: Creating the perfect display wall

 Tuesday, May 26th, 2009

A couple of weeks ago, we touched upon store design and displays. One of the topics in that article was how to design attractive walls that entice individuals to shop in your store. Today we are going to discuss that topic in more detail.

Some of the most valuable real estate in your store is on your walls. Wall displays allow you to take advantage of the vertical space in your store that you can’t use as effectively in the center of your store.

The key to a good wall display is variety. There are many different systems that could help you develop dynamic wall displays that are pleasing to the eye and that help drive sales.

Height is a key player in wall displays. Think about popular store types.  Electronics stores always line the walls with up to three rows of flat panel televisions so that they are the first thing you see when you walk in the store. Clothing stores have clothing displays 10 feet in the air. Book stores tend to display their best sellers on racks lining the walls.

So how do you replicate these gravity defying displays in your store? There are many solutions that can work. However, the most cost effective solution is probably a versatile wall display system that can be changed as needed.

There are a couple of options out there for this type of display. The first type is a slatwall panel. These slotted panels come in a variety of finishes and can be easily painted in order to match the décor of any store. Panels are affixed to walls and then can be customized with a variety of accessories to create a dynamic display. Another option is wire grid units that can be placed against the wall.

We recommend using wall panels to break up the monotony. By alternating racks, baskets, shelves and racks against the wall, people are more apt to browse. Use high areas for displays and then feature the item on racks or shelves below the display so people can reach the items without assistance.

Play with colors, items and textures in order to keep it interesting. Don’t be afraid to experiment. By creating dynamic wall displays, you will always keep shoppers interested and their wallets open.

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Tuesday Tip: Making a Profit with Gift Certificates

 Tuesday, May 12th, 2009

In 2006, the National Retail Federation estimated that consumers would purchase $25 billion in gift cards. Companies like Best Buy and Victoria’s Secret have seen upwards of $40 million each in profits in unused gift cards alone. So why the trend toward gift cards, and how can your store cash in on the potential profits?

Gift cards have recently become an extremely popular item around the holidays, for birthdays and wedding or baby showers. Some couples even now register for very few items hoping to get gift cards so they can pick out their own gifts. Gift cards are seen as a thoughtful purchase because they let your loved one know that you were thinking of them, but it gives them the freedom to choose their own items. Gift certificates to specialty stores, boutiques, spas or other niche stores can speak volumes about how you were truly thinking of that individual when selecting a store.

To get in on the gift card action, you should make it very easy to purchase a gift card/certificate. Place a sign advertising that gift certificates are available. We recommend not only putting one at the counter, but also placing one at the entrance to the store, so that weary buyers know right away that they have an alternative gift idea. Plus, if your store has a website, advertise that gift certificates are available.

We like gift certificates that can be customized to any amount. That way, people aren’t pigeonholed into a certain price. If you have only increments of $25, someone planning to spend $30 will go down to $25 rather than up to $50. That is $5 lost.

Now, plastic gift cards are great, but they are pretty impractical for independent retailers. The costs to start up a plastic gift card program would far outweigh the profits. And paper gift certificates and plastic cards spend exactly the same way, so people tend to not even notice the difference. So for now, stick with paper gift certificates and then if they take off, then consider investing in a card system.

We suggest having 2-part gift certificates. These packages allow you to give one certificate to the customer while you have an exact replica for your records. This way, when a certificate is redeemed, you know how long ago it was purchased, the selling associate, etc. These types of gift certificates help you add checks and balances to your gift certificate program.

The final thing to think about when starting a gift certificate program is an expiration date. It is pretty standard for gift certificates to be valid for either one to two years from the purchase date. Most organizations do not count a gift certificate as revenue until it is redeemed, so after two years, that certificate is automatically figured into profits. That way, you don’t have to keep your records open. Plus, as we mentioned before, many gift certificates go unclaimed, so you need an official date to stop acknowledging that sale.

Gift certificates can be an extremely good way to generate additional revenue. So don’t be scared, start a gift certificate program.

How have gift certificates sales impacted your stores bottom line?

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Tuesday Tip: Creating Displays that Sell

 Tuesday, May 5th, 2009

In any clothing store, the way you display your merchandise can make or break your store. You have to walk a fine line between showing off each garment and having enough racks to hold all of your merchandise. So the answer to this dilemma is variety.

There are three main types of clothing displays, wall displays, floor racks and tables. Each needs to be used in order to create an effective flow to your store and to showcase your merchandise.

One thing to remember is that shopping is a visual experience. People gravitate into a store when they see something interesting. We recommend placing something similar to a three tiered table right at the entrance. Frame this table with a couple of mannequins dressed to the nines. Then stock the table with all the necessary items needed to replicate the mannequin’s outfit. The three tiers will allow you to easily separate clothing items while dynamically displaying color and fabric options.

Once a shopper is drawn into your store, their eyes gravitate toward items they can see. Make sure you have racks and wall displays that offer face out clothing that feed into the center of the store. People can’t see your merchandise when it is shoulders out. Have a variety of rack types and heights so that browsing is easy and interesting.

Alternate rack types, have a few four way racks, then intersperse two way racks, one rail racks and an occasional round rack. Round racks have no display options, so we suggest saving these racks for your clearance items to maximize that space. In between racks, break up the monotony with tables of folded items.

For your wall displays, remember that the average person cannot reach items high on the wall. Have items on face out displays up high with a shelf directly underneath with folded clothing. This will be much easier to access than clothes being behind the high display item. Most people will not ask an associate for assistance getting down an item. Then under than shelf, have a hang rail with a variety of sizes and colors.

One tactic that works fairly well is to group clothing styles or colors. By grouping all of the professional attire in one corner, fancy in another section and casual clothing in a different place, people are more likely to grab multiple separates that will mix and match to create entire ensembles.

So, if sales are lagging, try to rearrange your display racks and create a dominant display at the entrance to your store in order to bolster purchases.

What works best for your store?

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Tuesday Tip: Essential Supplies for Online Retailers

 Tuesday, April 28th, 2009

As the Internet continues to grow, many companies are either beginning as online only ventures, some are adding their merchandise online or some are closing their brick and mortar locations all together to become online store fronts.

As an online store, your supplies will differ from a brick and mortar location. First of all, you will not have to purchase things like displays or counters. But there are some supplies you will need to always keep stocked.

Because all online transactions end up being shipped, you need to ensure you have supplies that will keep your shipping costs low while protecting your merchandise. Here are the items necessary for putting a package together.

  • Boxes: Keep a variety of box sizes on hand so that you can ship orders in the smallest box without having to ship orders in multiple boxes. Larger orders should go in a bigger box to save on supply and shipping costs.
  • Bubble Shipping Bags: For small items or easily folded items, a bubble shipping bag is ideal because they cushion your merchandise and take up very little space.
  • Packaging Products: Have both bubble wrap and stretch film in stock in order to protect valuables and fill dead space. Plus, plastic products are more environmentally friendly than their Styrofoam counterparts.
  • Kraft Paper: In order to reuse boxes, use Kraft paper to rewrap boxes with writing on them for shipping.
  • Carton Sealing Products: Invest in a carton sealing kit that comes with a carton sealing tape gun and multiple roles of clear packing tape.

But shipping products aren’t the only things you will need in order for your new retail operation to be successful. Don’t forget organizational supplies such as shelving, tagging products, clothing racks and steamers.

Any other essential items that you needed when you started your online retail operation?

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