Profits through my eyes
By Jennifer Robison, National Retail Specialist - Tucker Rocky Distributing
June 26, 2014
Filed under Guest Blog
It’s been too long since my last blog for Boating Industry. I can easily say I have been slammed with work and projects with retailers. Retailers that are on the gas are keeping me busy using my eyes and designs to create a new kind of in store experience. I love it; they love it, and wow, the industry is letting new ideas in, and it’s great to create sales growth.
What is it that my eyes see? They see space, reuse of space for products, lifestyles and brands. I see a space and how it can complement a brand and relate it to another brand and create a space that sells more goods. Reworking a space for retailers using brands has gained some substantial positive effects for the retailers.
How do we do this? I think you really need a strong understanding of the industry, consumer shopping habits, the region the store is in and the lifestyles that are relevant for their sales. You need to understand space and the products that will fit in the space. There are many factors that make a recipe for success in boosting in store sales. You also need a strong in-store sales team including a savvy buyer. This team will maintain the space and honor the brands and products in a way customer can sense. It’s not simply good enough to pick a strong brand, put it in your store, hang it on the wall and hope customers come and buy it at full retail. Stocking brands and products is an art. It takes a great plan, great maintenance with consistency, promotion of the products outside of store displays and keeping it fresh each season by not letting it sit season after season hoping it will sell.
The future is bright for brick and mortar retailers that embrace retail is more than hang and hope and securing margins. If products are not engaging, relevant, fresh, available and supported, don’t expect to make good money.
Here are my questions to ask yourself and your team:
- Why do you stock what you do?
- Is what you stock relevant to today’s shoppers?
- When is the last time you took a deep look at your accessories business?
- Can you make your eyes and opinions neutral?
- Do you understand that some products and brands are not your cup of tea but relevant?
- Do you understand customers want to see new and fresh products and brands in stores, too?
- Do you understand that customers have money to buy things you don’t think they will?
- Do you think that customers only buy online? This is false. They buy online because retailers online bring products to market that stores won’t try.
- Are you running a real store that is really competing, offering products and brands that bring in a variety of shoppers? OR are you babysitting a space that has not changed in too many years?
Fresh eyes may be just what you need. Find a way to get a new set of eyes on your store, and see if they see a different vista.