Do you own a small retail business? If so, are you making the most of all your opportunities? Every single customer that comes into your store is a chance to make more profit, and if you aren’t driving sales in the right way, then you could be missing out. This guide will introduce four simple techniques that you can use to boost your sales figures and do wonders for your bottom line. Let’s get started right away.
1/ Learn from the chain stores
As a retailer, you have plenty of advantages over the chain stores. However, they do know how to sell. So, make sure that you keep yourself up to speed with some of the techniques that they use when you go to one of their stores. Are you ever compelled to buy something that you didn’t plan for? If so, what was it that made you make that purchase? It could be any one of a number of reasons, from positioning in store to an impulse buy at the checkout. We’ll take a closer look at some of those later, but for now, use all of your experiences – good and bad – to develop your own techniques.
2/ Improve customer service
What does customer service mean to you? Being polite is a good start, but it also means giving your customers the opportunity to get a good deal. So, if someone buys a games console with no games, make sure you tell them about the deal where they only have to spend another $20 to get three games. If every member of staff can do that ten times in a week, then that will bring around far better takings, and, therefore, give you a healthier profit.
3/ Added value at the registers
Have perfect partner products or little knick knacks at the registers is an excellent way to make more out of every sale. Typically, these items will have large profit margins, and can add an average of around $4-$5 per sale. If you can do that for every single purchase, that’s an excellent return. It will also help when you are managing busy queues. Perhaps a customer is bored of waiting but a cheap book on a rack catches their eye. They pick it up, look at it and decide they want to take it home with them. It’s just extra money in your pocket, so make sure you have a broad range of popular but cheap products at hand.
4/ Speed up sales
Customers don’t want to spend half their day in a queue, so make sure you have all hands on the tills at busy times of the day. Getting that cash through the registers as quickly as possible reduces the chance of customers walking out – and improves your reputation. They will also be in a more malleable mood when they get to the checkout, meaning they might add to their purchases. Another option to reduce customer waiting times is by having a tablet POS system for your shop floor team. Again, this means that you close the sale quicker and give the customer less chance to change their mind.
These are just four simple methods that many large retailers use. If you have any to add, then please do!
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