Increase spends: 10 basics in Retail

The end of 2016 is near, a few more weeks to go. How will this look like for you? Are you hitting budget this year? Sometimes it is good to be reminded of how to increase your spends! I have summarized 10 basic elements which will help you to increase spends in your shops.

  1. Upsell: Ask the question… every time, every transaction!
  2. Presentation: highlight those best sellers!
  3. People: training and focus but most of all: hire the right people
  4. Place: use your data to plan your store properly
  5. Price: value for money
  6. Promotions: you need promotions believe me, but don’t give away your products
  7. Products: matching the needs of your customers
  8. Theming: get the story right in your store and you will increase value for money
  9. Planning: forecast the needs and never run out of stock on your best sellers
  10. Service: happy people buy

Since the holiday season is about to start, the next post will focus on driving sales during the holidays!

The key elements in retail

Driving sales in Retail starts with the basics. Below I have listed the key elements in Retail for you.

Business Awareness

  • What drives the highs and lows in your business?
  • What is the actual performance vs budget and previous periods?
  • Do you have a clear understanding what impacts your net profit?

If you know what impacts your business you can set up clear actions to improve or maintain the quality of your business. The more data you have the better you can control your store. Tip: Do not forget the non-financial KPI’s. Continue reading The key elements in retail