Page 88 - enLIGHTenment October 2016

on the Mark

DEVELOPING

A PROCESS

Believe it or not, good “product sell-through” doesn’t just

happen; it’s part art and part science.

M

any factors go into purchasing items advantage, however, is that the Web o ers unlim-
for your store. Typically you select ited space. One side note: as a retailer, if you do not

products that are popular and that include omni-channel marketing as a strategy, you
represent your store’s image. As are missing out on that unlimited digital space. The

the retail arm of the lighting indus-
brick and mortar channel has physical space limits

try moves forward, providing carefully selected and must make an impact in a more thoughtful way.
merchandise in a curated environment of educated Selection begins with a very careful process

employees – combined with a memorable customer consisting of several steps, including some in the
experience – is the best way to stand out in a world pre-purchase stage. By following these guidelines,

of in nite choice.
you will gain an advantage over your big box and

In the digital world it is pre y easy to show im- digital competitors and will appeal to your speci c
ages and words for thousands of items — and customer base.

before the “e-stores” come at me with a vengeance,
realize that what they do also requires labor. The
The PeoPle

Lighting stores are owned and operated by many

wonderful people who have the best intentions for
their stores, sta , and community. To do the best

job possible, they need good information backed
up with a plan of action. To make a good plan, you

must make decisions on how you will proceed with

the purchase, presentation, and sale of your mer-
chandise. This requires you to have information on

your target market, o er a product mix that appeals
to them, decide how you will market to them, and

establish the price position of your merchandise.

A well-devised plan will take several hours to do,
but it will save you hundreds of hours and possibly

thousands of dollars.
Who have you identi ed as your target audience?

This is a crucial rst step for any brick and mortar

business. While this seems like an easy question to
answer, take the time to develop thorough answers.

By understanding your target, you will be able to
determine the categories you o er and their price

86 enLIGHTenment Magazine | OctOber 2016
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