Most entrepreneurial retailers have an opportunity to increase sales. IN fact, most are burdened with that opportunity. So many types of retail are in categories that require a little salesmanship.
That is, those retailers need to engage the customers, then help them through the process of uncovering their needs, helping determine the products that meet those needs, then add-on products in other categories. Now that’s selling.
Yet so many retailers don’t understand, or know how to sell. They simply help a customer buy the stuff the customer wants. End of story. And that means that sales are being left on the table.
Enter the average transaction. For most retailers, it’s the easiest way to goose sales without a lot of effort. It’s simply helping customers buy more of what they came in for. And all it takes is a little salesmanship. It’s about engaging the customer and finding out why the customer came in to your store. It’s about showing them products that solve their issue. And then it’s about introducing them to another category of products, even if it does nothing more than make them aware that you carry a certain brand or type of product.
THE REAL WORLD RETAILING TAKEAWAY
Sometimes the fruit is so ripe, it’s no longer low-hanging but is rotting on the ground.
The average transaction is the easiest way to increase your store’s productivity, simply because it takes advantage of people who are already coming into your store. All you have to do is make more of each sale.
But that only gets you so far. At some point, you’ll maximize those average transactions and will need to turn to new customers in order to increase sales even further.
But for now, focus on picking up that fruit on the ground and turning it into a pie, some jam or any other product that increases your sales.
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