November 21, 2009
Which retail sales keep the business afloat?
asked:
In a small retail store, which sales keep the business’ doors open? The large ticket items the sales staff keep pushing or small items that they don’t?
Doris
In a small retail store, which sales keep the business’ doors open? The large ticket items the sales staff keep pushing or small items that they don’t?
Doris
As long as you’re selling enough product to pay the overhead, and wages are atleast only 20%, you’re fine.
The bread and butter of you’re items are probably the small basics. But, what increases the customers bill is what keeps you’re rent paid, employee’s paid and in a successful business you the owner paid as well.
this depends on the type of merchandise store and location clientele and so much more.
Retail Success Stories
There is nothing more encouraging to new business owners as hearing about a retail success story. Here we highlight shops and their owners that have made it …
retail.about.com/od/retailsuccessstories/ - 21k
It’s not about either of them. It’s about margin. So focus on the items that bring the most margin in. They could be big or small. The other keys are things like the add on sales. Are you tracking your average dollar sold per transaction? If not, start now. Once you find out what it is, set a goal to increase the average dollar sold and you will automatically begin to increase your margins. Next, teach the team what items have a bigger margin. Put those items near the checkout and teach the team how to add on sales by suggesting these items to everyone that buys. It’s just like McDonalds….”You want fries with that?”
If you have other questions, please email me directly. I work on this kind of thing quite often and would be happy to give you a free consulation.