It’s Retail 101 and it’s called the add-on sale. “Would you like fries with that?” “Do you need shoes horns for those shoes?”
Retailers are realizing that Americans aren’t spending on apparel like they used to. So they’re trying to feature more impulse items that people will buy as part of add-on sales. Belts, socks, scarves and jewelry are all part of what we use to accessorize. So retailers are carving out areas of their stores or opening new accessory stores altogether, as Banana Republic did with their new Edition store concept that features only accessories. Of course, Guess has been operating accessory stores for years.
THE REAL WORLD RETAILING TAKEAWAY
The smart retailer pushes more than their staple products.
Accessories are just one way to increase sales. Any item can be an impulse buy so long as it’s accessible and inexpensive.
I’ve always believed in a strong cash wrap, as that’s where most impulse buys occur. But accessories can be anywhere in a store, and in fact, should be in multiple locations to maximize the sales opportunity.
Remember, retail is always about discovery, about the finding the unexpected.
How are you increasing sales by featuring accessories and the unexpected?
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