Well, it’s that time — time to get the holiday retail season into high gear if you haven’t already.
So let’s move on to the first big subject that I love about holiday shopping – stocking stuffers. They are such great little treasures that have become more and more popular in recent years. A stocking stuffer can be anything – from a bargain like a pack of gum to an expensive diamond ring.
Stocking stuffers serve a whole bunch of gift giving needs. They allow you to give 10 gifts for an extremely low price (come one, we all know that we like to receive 10 little gifts vs. one big one). They allow you to round out your gift giving (“I just need one more thing for little Susie”). And they allow you to find a whole bunch of gifts in one place.
One retailer that has caught stocking stuffer fever, upped the ante every year, and done this better than just about anyone is Restoration Hardware. If you’ve ever been in a RH store around the holidays, you’ve seen their collection of glass jars all around their cash wrap filled with stocking stuffers. Not only are they offering you the opportunity to pick up last minute whimsical little gifts, but they’re bolstering their average transaction and units per transaction.
I often write about the importance of creating a sense of discovery. Restoration Hardware does this by offering up 50+ vessels to hunt through to find that one perfect (or two or even ten) stocking stuffers.
And now Restoration Hardware is promoting their stocking stuffers in a big way. If you check out the RH website, there’s a link right from the home page. And their catalog has a pullout section featuring nothing but stocking stuffers.
THE REAL WORLD RETAILING TAKEAWAY
If you want to bolster your average transaction and units per transaction, then get on the stocking stuffer bus.
It’s not difficult. Often you can pull together items that you already have in store. Here are a few ground rules.
- Make sure the item is affordable. Stocking stuffers are often an impulse item, so make sure you offer items that people don’t have to agonize over (under $20 is a good rule of thumb).
- Create a sense of discovery. Use various vessels to place your stocking stuffers in and put them all in one place. Shoppers will look through the entire collection if it’s well merchandised.
- Place your stocking stuffers near the cash wrap. You want every single customer to see what you’re offering and to act on his or her impulses. This is no different than a grocery store checkout lane.
I know that if you offer the right merchandise at the right price, and visually merchandise it so it’s appealing and place your display near the cash wrap, you’ll increase your average transaction and units per transaction.
How have you been successful with stocking stuffers in the past? And what changes are you going to make to ensure you’re even more successful this year?