Post on 18-Jan-2016
Create Your Own Retail Zone
Lynda Collier
Create Your Own Retail Zone
Lynda Collier
What is a Retail Zone?
An area in your store that is distinguished from your
core business– DME– Breast Health– Lingerie Shop– Orthotic and Prosthetic
What is a Retail Zone?
A grouping of products that compliment your core
business– Compression Garments– Hats and head wear– Wigs – Skin Care
Business example: Breast Health Retailer
• One fitter sees 5 people per day and each of the women is in need of a Juzo compression sleeve.
• At $70 per sleeve you are generating $350 additional dollars per day / $2,100 per week / $8,400 per month.
• If half of this is profit, this product alone is HUGE by year end at $50,400...and this is a cash sale!
• That sleeve alone can pay a fitter for a year!
What is a Retail Zone?
Products for impulse buying– Jewelry– Hand bags– Cosmetics– Seasonal Items
• Pink ribbon items• Holiday items• Spring and fall items
Business Case: Juzo’s Pink Silver Sole Socks
• Of the 20 people that browse through your store each day, 7 of them purchase a pair of socks each day during the month of October.
• At $15 per pair you generate $105.00 on the first day/ $630.00 in the first week/ $2,520.00 in the month of October
• If you continue to sell 10 pairs a week for the rest of the year, your profit is $3,410.00
Benefits of a Retail Zone
• Increases traffic, sales and profit opportunities
• Customer satisfaction• Gains trust & builds loyalty
– Increases sales and profit– Repeat business
Making your Retail Zone Successful
• Well designed areas– Well lit and
easily accessible
– Neat / clean / organized
– Keep it freshly merchandised
Making your Retail Zone Successful
• Keep it freshly merchandised– New products always draws customer interest
• Mix product with posters and displays to attract attention and always allow the consumer to touch and feel the product
Making your Retail Zone Successful
• Courteous and knowledgeable staff– Staff must have training on each product in
order to sell with confidence• Presentable and professional
– Need to be able to recognize sales staff• Business today demands new and improved
solutions
Making your Retail Zone Successful
• Repeat business is key to driving traffic into your store• Gather email addresses and create a monthly
newsletter highlighting special events, promotions and sales
• Start a Facebook page• Offer repeat customers special discounts and
incentives to get them back into your store• Consider a friends and family day so that your
repeat customers can introduce new customers to your products and services
Zone Presentation
• User friendly• Neat / clean /
orderly• Organized by type /
complementary of each other
• Colors draw attention to the products
Types of Specialty Merchandise
• Seasonal items from existing vendors– Pink ribbon socks, seasonal
colors, holiday items, swimwear
• Hats & head covers– Seasonal– Special items for chemo
patients
• Hair care products – Human & Synthetic
Types of Specialty Merchandise
• Skin Care• Cosmetics
– Both of these can be a large revenue producers
– Decide if your store can handle a full line or specialty items • Think impulse buys – lip gloss, nail polish,
mascara
Types of Specialty Merchandise
• Fashion wear– matching sets,
impulse items• Swimwear• Hand bags• Jewelry• Wigs• Pricing strategy
Identifying Your Niche
• A niche is something, as a position or activity for which one is particularly suited
• Sticking to what you do best and becoming an expert
• Learn from networking – what works in similar businesses
• You will be known by your good reputation, quality of products and excellent service
Know Your Customers
Who do you serve?• Clients• Caregivers• Family and friends• Community / walk-ins
Your Customers are Crucial to your Success
• Listen to your customers– They need to feel important to you
because they are– Gains their trust
• Customer Referrals– Not only will they recommend you but
they will stay loyal– Word of mouth and personal
recommendation is the least costly marketing tool
Plans for Success
• Staff members trained and retrained– Most vendors will be happy to share the
qualities of their products• Reward your team members for sales• Superior Service
– This is a must
“Excitement is money in your register daily!”
Plans for Success
• Control your risk– Don’t over buy – proceed with caution in the
beginning• Quality products
– Ask for referrals, talk to your peers about what works for them
Plans for Success
Be open to doing things a little different
• Knowledge leads to great sales – allows staff to point out the positives – personalized service
• Buy products you know are good• If retail is new to you – be open to
doing things a little different• 10% reward for all retail sales works • People who succeed in business
are usually excited about what they do