Friday, May 25, 2012

5 Tips for Retail Success

Many medical businesses have launched into the world retail. Simply putting up shelves, adding some product, and opening the doors won't drive the sales. Merchandising, display, promotions and a little retail know-how can set you up for success.

Eye Level is Buy Level 

Keep your products in easy access. Especially for the home health sector, many customers aren't mobile and if they can't reach a product they aren't likely to purchase it. Take tips from grocery stores and big box retailers by putting the items you wish to feature at customers' normal eye level. Other tactics are merchandising smallest to biggest putting lighter items at the top and heavier items at the bottom. This makes it easier to reach and less likely heavy items might fall.

Fully Stock
Keep shelves and racks full of products. There is a false belief that full shelves may look like items aren't selling, but actually studies have shown full shelves sell more. When displays are picked over it is less inviting to customers. Keep them full of product, neat and organized.

Talk it Up
Use signage and self-talkers to call attention to products. Signage can be informative to direct shoppers to the items of interest. Shelf-talkers can call out special offers, gift with purchase, or product benefits. Avoid hard to read fancy fonts or cluttering with too many signs.

Window Display
Create an eye-catching visual that draws customers in. Potential customers have a no-pressure area where they view your product offering in a beautiful display. Don't be afraid to use bold colors and some signage, especially if you have special promotion, but remember less is more. This isn't something to set it and forget it. Be creative and keep refreshing the display every month so that each time a customer visits it looks new and inviting.

Reception and Checkout Area
If you are offering services and retail, position your retail away from your reception area.  Ideally clients should walk through the retail areas to your reception. This offers the opportunity to browse. Don't keep products behind your desks areas. Customers love to touch, feel, and explore items. Remove all roadblocks to making a purchase.

With a bit of focus and attention to detail, your retail can be flying off the shelves! Have additional tips that worked for your business? Please share in the comment section below.