retail merchandising
DESCRIPTION
What every self storage operator needs to know about building a successful packing and moving supply program.TRANSCRIPT
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RETAIL MERCHANDISIN
GHow To Increase Your Bottom Line
A Farrell Presentation
Farrell Enterprises Ltd.
66 Bartor Road
Weston, ON M9M 2G5
www.farrellonlinestore.com
416-745-2711 ext.29
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WHY SELL RETAIL? Your target market (self storage
consumer) needs moving supplies
If you don’t offer, someone else down the street is
Well merchandised moving supply store draws in drive-by customers....moving supply customers may need self storage space. VERTICAL INTEGRATION
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HOW MUCH CAN YOU SELL? Sales results vary from a few hundred
dollars each month to MANY thousands.
Some stores consistently generate $2000-$3000/month. This means $12,000 to $18,000 in profit dollars
added to bottom line each year.
Top Canadian stores generate $8000++/mo during peak season.That’s $48,000++ in profit dollars added to
bottom line each year.
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HOW DO THE BEST STORES DO IT? Incentive programs
Reward your employees for selling retail – and expect to see double digit increase in retail sales figures. Some have doubled sales by adopting this technique.
Note: Retail Stores average gross margins in excess of 50%. Take a small percentage of that (5-10%) and roll it into an employee incentive program.
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BEST MERCHANDISING PRACTICE 1 “Stack it high and watch it fly!”
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BEST MERCHANDISING PRACTICE 2 Price labels on all merchandise
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BEST PRACTICE 3 – DEMONSTRATIONAL DISPLAYS Display products “in use”, helps
consumers visualize product benefits
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BEST PRACTICE 4 IS A-MAZE-ING Force customers to wander through your
retail maze
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BEST PRACTICE 5 “YOU CAN’T SELL FROM AN EMPTY APPLE CART!”
A well stocked store is a profitable store. Keep the hooks full, products faced forward.
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A BUSINESS WITH NO SIGN IS A SIGN OF NO BUSINESS Outdoor signage attracts drive-by traffic
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USE THE WEB AND YELLOWPAGES List your facility under packing/moving
supplies in yellow pages, other directories
Use your website to promote retail store - List all retail products in an online catalog with pricing, pictures, product usage information.
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KIJIJI, CRAIGSLIST, SHOPTOIT.CA Listing retail specials on online
directories is another way to drive in traffic.Don’t say “we sell boxes and moving
supplies” Instead advertise a few key products that lead to
other sales. Example: offer blow-out price on 2.0 cube
boxes, knowing that purchasers of boxes need tape too
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FOCUS ON RETAIL AS A PROFIT CENTER AND PROFIT WILL FOLLOW