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Low Cost Ways To Increase Retail Sales

17th Jul 2013

Low Cost Ways To Increase Retail Sales 

The bottom line is what every businessperson thinks about. When you are selling wholesale sunglasses, there are many factors that go together to make for a successful profit margin. Of course the right inventory is essential, and knowing where and how to display your goods doesn't hurt either, but one of the constants for many retailers is trying to come up with some low cost ways to increase retail sales.

The following tips may help if you are looking for some low cost ways to increase your own retail sales:

Introduce Customer Rewards

A great low cost way to entice your customers to purchase more often is to offer discounts as incentives. Why not offer a reduction in price on a customer's birthday or a points system that pays off in other discounts on merchandise? Adding these little extras will attract people to your store, whether it is online or of the brick and mortar variety.

Upsell

You might have a full time or part time staff or you might just be running the operation yourself. Either way, upselling is a good way to get the most out of overall sales, for little to no extra cost to yourself. Essentially, this is all about adding items that correlate with one another. Accessories to the product the customer is originally interested in, and ensuring they are aware of the benefits of said accessories. For example, having thick and string straps positioned right beside your selection of sunglasses will not make a sale on their own. It's more likely you will need to enhance their understanding of the accessories. Of how the straps will ensure that they'll never lose another pair of quality shades by putting them down and forgetting them.

Use Display Cases

When it comes to using display cases to showcase an inventory of say, polarized sunglasses, it is a good idea to use some manner of backlighting. Making the product more attractive will go a long way to increase sales. It is also recommended to update your display regularly.

Treat your regular customers differently

People who like to come into your store or buy from your website will return. That is why you need to treat regular customers a little differently than those you meet for the first time. Extended credits and discounts are great ways to show these regulars they are highly valued. A basic courtesy like greeting them by name is another of the many different low cost ways to increase retail sales.

Do you have any tips or ideas that helps your business to increase sales? If so please leave a comment below.