Winter can be a difficult time for many retailers, and this year appears to be even more difficult due to the pressures caused by interest rates and inflation.
And we understand it, this stuff truly takes a toll for small company shops that don’t have an internet presence.
From our experience as a trusted supplier of wholesale products in NZ , we’ve discovered that in the calmer months, boosting your possibilities of sales opportunities fell into two categories:
A – You could make some changes to your business.
Or B – You already have all the staff and stock in the world to increase those opportunities.
So the question now is,
Which category does your store fall into?
Boosting Hygiene & Health Products Sales in 2024: Tips for Retailers
If you want the answer to “How to increase your sales, there are five tips to help you boost sales opportunities and increase profit all year round at your store.
1. Always ensure that your counter displays “impulse” purchasing products for quick sales
We do it all the time when we’re buying groceries or going through the checkout queue; we see something and make an impulsive decision to buy it, regardless of whether we actually need a
Make that same impulsiveness a sales tactic for your shop!
But don’t always base your “impulsive” items on price; sometimes it’s about solving your customer’s most common problem, creating urgency or value, or offering something completely unique (everyone enjoys a useless quirky item – think fidget spinners!).
Counter space might only be 1% of your sales space, but can account for more than 8% of your total sales – use this space wisely!
2. Ensure that you have plenty of stock of your best-selling items
First and foremost, if you don’t know what your greatest sellers are, stop reading and go study them!
If you know what they are, now is the time to double-check your information. My retail clients frequently make mistakes when attempting to guess what their best sellers are. So take some time to look at the data, don’t go from memory alone!
Then, make sure your top-performing goods are well-stocked; otherwise, you will undoubtedly miss out on fantastic sales chances and lose revenues.
3. Clear Dead Stock and Slow Moving Inventory
Although putting a discount every now and then isn’t the smartest move, it can at least help in doing away with the sluggish moving stock, especially during dull months.
Firstly – it can give your customers a reason to buy! If you conduct a clearance sale and market it successfully, you will see an increase in cash flow.
Second, it will make room for on-trend or new items for the next season! Customers will enjoy the discount, adore coming to view all your new product and your business will seem revitalised!
Holding onto outdated stock damages your bottom line; sell and move on.
4. Host an Event Yourself or with Complementing Businesses
Don’t wait for a holiday or special event to happen; instead, plan your own!
Giving your clients VIP treatment, hosting an event only for them, just because, results in some of the most successful sales days!
Aligning yourself with other complimenting (not competing) businesses might give clients even more reasons to purchase. Plus, an added bonus is you get to share databases and attract customers into your shop that may not have been a customer before. Now that’s what I call a win/win.
Make sure you offer VIP treatment at your event. Go all out by serving food and beverages and offering a variety of discounts or value-added products to entice customers to spend their money.
This may be anything like spending $1 and getting 1% off, or a discount voucher to use on a future purchase when a customer spends $1 (be sure to include a date on the voucher for when they need to use it!).
5. Promote Bundles and Combos
If you’re looking for the perfect time to upsell or cross-sell, it’s now. Some products may already have a decent demand but it can also mean that you can use them to boost your sales of products that aren’t doing so well.
This can be done with products that complement each other, such as shampoos and conditioners, skincare or grooming products.
