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Capitalizing on High-profit Retailing
By: Victoria L. Rayner
Posted: June 23, 2008, from the April 2006 issue of Skin Inc. magazine.
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To reach the minds of the preferred target clientele, create a psychological connection to get consumers to make a purchase. To do this, make products and treatments appear as the objects of the client’s own goals and desires. The intention is to get the client involvedby encouraging self-directed behavior—self-modification for personal adjustment. Remember that a client’s income level has a lot to do with their willingness to spend money in an establishment, as well as the frequency. Clients who have overstretched their budgets or who are mired in money crunches—although loyal—should not be the focus of high-profit retailing strategies.
Sell without the sales pitch
Utilizing merchandising techniques to get the most bang for your retailing buck can be achieved in a number of ways. Following are some tips for enhancing product displays, selling methods and marketing efforts.
Merchandise with winning displays. Retail products should be displayed so that they silently call out to browsing clients and potential buyers, with no barrier in between. Items should be clearly visible and easily handled. Place shelves at waist to eye level, which has been proven to boost retail sales. When managing merchandise, research thoroughly how other suppliers promote their product lines. Three key things to remember when updating current retail displays include intelligent selection, style and simplicity. It’s never a waste of time to put the extra effort into making displays more eye-catching.
Let light make the difference. Lighting gives texture and depth, strengthens the color of packaging, and is the most effective way to showcase retail items by adding energy and life to otherwise drab or dark display spaces. When selecting or replacing lighting systems, keep in mind the levels of brightness, the color of light and the ability of the light source to render color naturally. To add interest, work with a mixture of fluorescent, incandescent or halogen bulbs. In addition, consider consulting a lighting specialist.
Make a colorful impact. Color is a major consideration because it affects clients’ buying moods. Color arrangements of blues, grays, greens and blacks suggest refinement and provide a better backdrop for more expensive retail items. Bright, high-impact colors, including red and yellow, stimulate impulse buying and are best used to create displays for marked-down items and other less expensive sale merchandise. Interior signs should be straightforward and easy to read, look professional and up-to-date, and communicate the theme and décor of the spa. Make sure to remain tasteful—color should never overpower the merchandise.