Point of Sale profits is serious business. The opportunity that is available to your retail stores’ bottom line is massive. If you are not utilizing your Point of Sale effectively, you could be throwing away profits with every customer.
Increasing your average sale value and adding profits to your existing services and products is one of the easiest & cost effective ways to grow your sales. There are several ways to increase your sales or average spend. As you read these, you can see if your retail store is currently doing this or even are aware of these options as part of your sales process, or are you missing the opportunity?
1. Do you or your sales staff suggest other products that may be suitable for your customers to accompany the product they are already purchase at the point of sale?
2. Do you offer any products at the point of sale counter to entice your customers to purchase additional products?
3. Do you know that customers purchase from you if they know, like and trust who they are purchasing from? So if they have committed to purchase from you, they will likely be willing to purchase additional useful products from you.
4. What could be possible for your business if you could add $10 profit to every transaction that you currently have?
5. Would this mean you could attract more customers to your store?
6. How often do you upgrade your meal size to large at any of the fast food outlets when offered?
If you can see the potential of having Point of Sale products available on your counter to offer your customers, but are unsure of what would work best, it is best to start with a minimum outlay and test the results. To ensure the best possible outcome, it is advisable to offer brand name products. In doing this, your customers are well aware of the brand and the brands reputation in the marketplace and will accept to purchase. In pharmacies, beauty & hair salons, ladies boutiques and accessory stores there is value in offering cosmetics for sale. Cosmetics are a billion dollar industry in Australia and women love to purchase the latest items. It is highly likely that your female customers will have been reading about the features and benefits of particular products in the latest women’s magazine.
You now may be aware of the power of suggestive selling and the correct product placement and what this can do for your business, it is now up to you to put the plan in place and increase your profits. After all, you are helping women feel and look great.