Page 92 - enLIGHTenment October 2016

on the Mark

East, try heading West. If you’re in the North, head
South and vice versa.

Take a lesson from the Venetian merchant

Marco Polo; you must travel to faraway places to
bring home the goods!

ProduCT

Let’s focus on what you are selling. The knowledge

about your audience allows you to select pieces,
create displays, set levels of engagement, and cre-

ate marketing that will interest those you want to

a ract.
One way to increase sell-through rate is by of-

fering complementary or “Go with Goods.” For
example, light bulbs are related to the lighting

retailer in the same way that shoelaces relate to a

shoe store; every customer needs them.
Lighting retailers can expand their bo om line

by complementing their lighting selection. Catego-
products. You must believe in the merchandise ries once le to other merchants – such as jewelry,

that you are selling as well as the companies and kitchen accessories, and home furnishings – are all

rep agencies that support your selling of it. When options to add to your store’s displays.
you are in a partnership-style relationship with your Try products you may have never thought of of-

vendors and reps, your sales teams must know it. fering before. Some of the out of the box products
The result of this relationship will be a product I’ve seen in other stores have been amazing, and

presentation to the consumer that becomes highly they will have people coming to you. Items I’ve seen

con dent.
that stand out are specialty paints, high-end kitchen
gadgetry, and local artisan items, to name a few.

exPerimenT
While we have discussed buying for our stores
No ma er how great your selection, our choices based on our passions; we can’t forget about be-

can get a li le stale and boring. Experimenting with ing pro table. Selecting “Go with Goods” that

a variety of goods brings new life, creates interest have high-pro t potential is the key to increasing
and, with a sharp buying eye, you may even be the your dollars per square foot, building your items

early adopter to a new hot trend. Even if these per transaction, and creating a larger than average
Mark Okun is cu ing-edge choices don’t all become winners, the ticket price.

Business Contributor store will become known for having distinctive op- Many showroom owners lament over decreasing

to enLIGHTenment tions other than what is available from the mass margins and increased competition from e-tailers.
Magazine and marketers.
One sure re way to add to the bo om line mar-

President of Mark As you develop a reputation as an independent gin is to key in on the side sell of “Go with Goods.”
Okun Consulting & merchant o ering fashion-forward and unique When displays are harmonious, and the sales

Performance Group. items, people will continue to come in to see what team’s presentation is on point, customers will want

He has more than you have. This will also lead to a greater geographi- to re-create the look and feel of the in-store experi-
30 years of hands- cal reach, which will bolster sell-through.
ence in their home and with all the items you have

on retail experience Experiment where you buy your products as shown on display.
training and coaching well as what you buy. Venture outside your regular I hope this column has encouraged you to iden-

sales associates in the route of trade shows and events. One bene t is tify who your customer is, or possibly book a trip

lighting and furniture the discovery of small niche players who do not to a distant trade show. Step outside the box and
industries. a end the larger shows outside of their geographi- make a list of some of the cool things you can o er

Mark@bravobusiness cal region, which allows you to o er products not to go with your store’s personality — but most of all,
media.com
yet available in your area. If your store is in the
have fun while you’re doing it.


90 enLIGHTenment Magazine | OctOber 2016
www.enlightenmentmag.com