Options: the secret number to increase your retail sales
One of the most important things that you need to determine when it comes to your retail store is understanding what the correct number of different stock options is best for your store. You want to offer variety so that your customers are able to find whatever they need. At the same time, you mustn't overdo it. Giving your customers too many options can be overwhelming for them. This is why it is important to determine exactly how many different types of items you should have within your store as well as to know what your demographic is so that you can make the right choices in regards to your merchandise.
Display and retail marketing
Your store display is an important aspect of selling your products. The way that your store is set up could influence how much your customers purchase from your store. In general, studies have shown that putting items that are popular but not expensive near the entrance of a store will make customers purchase more than one item. This is because they will be attracted to the products both because of the popularity and the price of the product. These are the types of products that are impulse buys, which means that for the most part, the customers will not think logically about buying the item but rather they will subconsciously want the item because it was in their sight of vision.
Setting up your display in a way that presents your product while also connecting your items to an idea in the customer's mind that makes them want it is going to increase your sales dramatically. Your display is a measure of storytelling and convincing customers not only to walk into your store but also to purchase items from your display and your store. Your display is about bringing customers in and making them understand how your products are exactly what they want and need.
The importance of emotions
Customers are more attached to emotions than they are to logical arguments. If you can find a way to connect the items that you are selling to your customer's emotions, they are much more likely to purchase a larger number of products. The way you present an item is all about creating a fantasy in your customer's mind, to convince them that the item that they are purchasing will bring them the things they wish for.
You can also connect your products to past emotions, using nostalgia is especially useful for this. If a product brings up positive memories from their past, they will be more likely to purchase an item from your store because of the association that they have made between their past and the product that you are selling.
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Trends and popularity
Even before the rise of Social Media, people were heavily influenced by what they saw on TV and around them. Peer pressure and the popularity of certain items will make more and more people want the items that you have in stock. When you are deciding what products you want to have in your store, you must look at the current trends so that the items that you are stocking on will have a crowd that wants to purchase the items.
You can also refer to online reviews to see what items already have several people who are seeking to purchase them. If your store also has an online website having reviews could increase your sales of particular products that have acquired positive reviews. Having products that have become more popular with your customers means that you are far more likely to increase your sales.
Test the items
Allowing customers to touch or try on the products that you are selling could dramatically increase the sales of your products. This is because customers are much more likely to want to purchase an item that they were able to try on so that they could see if the item fits them properly. Being able to touch an item also allows people to ‘feel’ the item and to see the quality of the product. In other cases, being able to provide sample products to your customers can also help you increase your sales. This is because customers will be able to use the products you are selling and, in that way, they will be able to see for themselves whether the products are to their liking.
In general, customers who are allowed to sample or try on products are far more likely to purchase them as they can ensure the quality of the products before purchasing them.
Bundle Selling and Loyalty Programs
Depending on the type of products that you are selling you can also create bundles for your customers. This means that they might be able to buy an assortment of products at better prices or to buy products that complement each other. Creating Bundles would allow customers to purchase a larger number of products even if some of those products were at a lower price. This would increase sales as well as leave your customers with a positive feeling regarding your business.
You could also create a loyalty program for your business. This will provide an incentive to customers to keep choosing your store for all of their purchases. A loyalty program helps create relationships between you and your customers. By the end of the day, to discover how to increase your sales in retail you must start by knowing how to make your current customers come back.
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7.Stock up on what sells
For items that you know are selling well, you should always ensure that you have available stock. This is because you want to ensure that if customers are coming into your store to purchase specific items, those items will exist within your store. Even if you are unable to always carry every size and color for each item, having a few sample colors and sizes could help you drive your sales up.
8. Offer expert help
Customers oftentimes need assistance with making choices regarding the items that are available in your store. Make sure that you and your store assistants are always able to inform your customers about all the latest trends as well as to advise their customers on how to decide which items to purchase for themselves or for gifts. Any information that you provide your customers should make their experience in your store more enjoyable and it should provide them with quality information that they can utilize later on.
9. Personalized Services
Where possible you can also add personalized services to your stores to make the customer's experience more unique. These could include tailoring services or engraving services that your customers can use to perfect the items that they are choosing to purchase from you. Still, adding such services could drive more business to your door as more and more people will come to your store to find the perfect gift.
10. Social Media
One of the biggest things that you can do for your business today is to increase your social media presence. Many young buyers tend to find the items that they wished to purchase through scrolling on social media. Using the platform to promote your goods could drive clients to your doors. This can be a free marketing tool that you can learn to utilize to best promote your business and even sell your products online. This could increase both the clients that you have as well as the number of sales.
Social Media is also a powerful tool for you to understand which items are in high demand at any given moment. This means that you will be able to ensure that the items that you are choosing to bring into your store are products that are currently on-trend and in high demand. This will also assist you in increasing the sales in your retail store.
With the new season coming up we hope that these tips can provide you with some inspiration on how to increase your sales in retail. At Cerdá we love to see our distributors grow and increase their sales with our licensed products. Join the Cerdá Family!