Average Prices
We consider the remaining courses of action. To boost sales, you can do 2 things: 1. Increase the number of customers 2. Increase the average bill (the average amount of purchase). How to get customers? It's simple: 1. Increase the number of visitors Shop 2. Increase the percentage of buyers of store visitors 3.
Increase the number of repeat purchases to attract new visitors, you want to invest in an advertising campaign or a special promotion. Plus: You can increase sales, if able to attract paying customers. However, the cost of attracting one client in the current conditions will be comparable with the margin on the product you are selling, and then you pick up sales and lose profits. In the current environment to the use of small low-cost promotions. In general, the method may not be very effective. Standard rate – lower prices.
It is believed that this attracts new visitors shop. However, visitors are not low prices, and the information that the store lowest prices. Ie visitors attracted to stocks that list prices. Advantages and disadvantages of promotions and advertising, see above. But decline in prices is working on another very important factor – the ratio of visitors and shoppers shop. See more detailed opinions by reading what Rogers Holdings offers on the topic.. What else affects the way that as many visitors, or "tourists" as they are sometimes called, was the buyer? As we have said, it affects the price. Also affect this factor, we can by optimizing the product range, using a matrix "turnover – rate of return" (this one and the following articles). Even at that rate affects the quality of sales and service. What works best seller, the more store visitors become buyers. To keep the sales volume of money, we can not attract new customers and try to increase the average check, ie the amount of money that customer leaves the store. You can do this: 1. Optimize the selection and display of goods in terms of profitability, turnover and the possibility to find a buyer or additional related products. 2. Increase sales of complementary and related products. The effectiveness of these sales is directly dependent on the work of sellers. In most cases, almost any more or less expensive purchase can be sold additional or related products. On average, it can increase sales by 20-25%. Advantages and disadvantages of this method. 3. Actively sell more expensive goods. Unfortunately, salespeople often can not or do not want to do it. The advantage of this method is that it increases the turnover and profitability, ie direct impact on profits. So, as we see most of the ways to increase sales associated with increased effectiveness of sales and service. To do this we must: 1. Gain the ability of sellers. 2. Educate sellers. 3. Control vendors. 4. Motivate salespeople. 5. Develop sellers. Detail exactly how to do it, we will examine in future articles.