Tip Sheet: February 2005

Published

20 years ago

February 1, 2005

Four fresh ideas to better your business

[componentheading]SPECIAL PACKAGES[/componentheading]

In the same way home electronics companies offer special “living room” packages (including big screen TV, DVD, sound system, as well as furniture like recliners and tables), you can offer your own special packages. For example, how about an “opera package” with opera-length pearls, diamond earrings, little black dress, opera gloves, and binoculars?

Source: Rick Segel

[componentheading]PICK A DAY FOR NEW STUFF[/componentheading]

How can you build the visiting habit in customers who already know everything in your store and only want to see the latest and greatest? Establish one day a week, or one day a month, that becomes known as the day you set out your newest offerings. If you sell vintage jewelry, perhaps you’ll have “New Heirlooms Tuesday,” or, if you’re selling a more general product range, let your customers know that they can see your latest new arrivals on the first Tuesday of every month.

Source: Instore

[componentheading]SELF-BRANDED GIFT CARDS[/componentheading]

Forget those old paper gift certificates. Plastic gift cards, used in the same manner as debit cards, are where the business is at these days — with more than 139 million people receiving one in the last 12 months. You can develop your own store’s self-branded gift cards. And, if you’re in a mall, make sure your mall offers one … and promotes it well, also.

Source: Retail Traffic Magazine

[componentheading]OFFER DISCOUNTS FOR GRADES[/componentheading]

Be both teacher’s pet and parents’ friend by offering school kids special discounts for getting great report cards. Choose the amount of the discount, and the grade levels you reward: do you reward all grades better than a “C,” or keep the bar high and only reward “straight A” students? Think of it as doing your part for the education of America’s young: a big discount on a hot product can be an excellent motivator.

Source: Instore

[span class=note]This story is from the February 2005 edition of INSTORE[/span]

Retiring? Let Wilkerson Do the Heavy Lifting

Retirement can be a great part of life. As Nanji Singadia puts it, “I want to retire and enjoy my life. I’m 78 now and I just want to take a break.” That said, Nanji decided that the best way to move ahead was to contact the experts at Wilkerson. He chose them because he knew that closing a store is a heavy lift. To maximize sales and move on to the next, best chapter of his life, he called Wilkerson—but not before asking his industry friends for their opinion. He found that Wilkerson was the company most recommended and says their professionalism, experience and the homework they did before the launch all helped to make his going out of business sale a success. “Wilkerson were working on the sale a month it took place,” he says. “They did a great job.”