Move That Merchandise
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This document provides tips for retailers to increase sales by better merchandising their products. It emphasizes that merchandise is the hardest working and most important team member as it drives the majority of revenue. When merchandise is not moving, it can lead to cash flow issues, loss of sales, and unhappy customers. The document then provides strategies for retailers to play with pricing, improve displays, use effective signage, refresh the look of products, employ suggestive selling techniques, remove slow-selling inventory, and make wiser purchasing decisions in the future.
Move That Merchandise
- 1. Move That Merchandise! Tips and Tricks to Sell More Product and Ditch the Dogs
- 2. The Hardest Working Member of Your Team Covers the entire sales floor Commands top dollar Drives the most revenue Interacts with the customers 60-80% of your assets
- 3. What Happens When This Team Member Fails Cash flow crunch Musty, dusty merchandise Merchandise loss Reduce sales Downward price spirals Customers stop coming
- 4. Play With Pricing Mark it down Mark it up Play mind tricks More is better
- 5. Dazzle With Display Cross-merchandise Move, and move again Give it more space Shine the light Sample away
- 6. Sell It With Signage Use shelf talkers Market with the media Use the vendors’ materials Faux sale signs Just In! (not really)
- 7. Give It a New Look Make a perfect pair Add a cool color Embellish with florals Personalize it
- 8. Want Fries With That? Teach suggestive selling Compliment their Be observant picks Ask questions Offer impulse buys Watch for buying signals Go the extra mile Did you see this? Determine the objection Encourage the sales with “why not?” Suggest an alternative Help make the decision
- 9. Ditch the Dogs Cut loose the dead inventory Sell online Sell or trade to other stores Hire professional liquidator Donate for tax break
- 10. Buy Better in the Future Know your inventory Know what’s being turns: Sales / bought Average Inventory Cherry pick orders Set up an open-to- Sell more special buy: Sales + Ending orders or drop ship Inventory - Beginning items Inventory = Open to Seek out return- Buy friendly vendors