We recently launched some new wine accessories and over the next 20 days will be launching another 40 new summer items! It is no coincidence that when we advertise our new products, sales of those items increase as customers want to give them a try. When we send you our catalogs in the mail, we alert you to what new items we have added as well.
In the same manner, retail stores benefit greatly by featuring and advertising new wines and products. I walked into a grocery store the other day and was in the soup aisle and noticed that there was a sign that said "new item". It caught my attention and I checked it out. It's that simple. Retailers can capture the attention of customers a few ways - good displays, price drops, and featured items. Dont' forget new item signage can really enhance sales of products and encourage your customers to purchase a broader range of items.
With our new products, we want to encourage you experiment with them. Some will work, some won't, and some will be incredible. Our goal is and always has been for you to find the right product mix that works in your store. If you ever find yourself purchasing a product form us that just doesn't sell, let us know and we'll give you credit to try something else. We have our 100% satisfaction guarantee to inspire you to try new products. After all, without constantly changing your wine accessory product line, you'll never come across that one product that just happens to fill your customers needs.
Speaking of new products, take a look at what they are doing in England. It's bound to make its way to our shores soon.
Thursday, June 24, 2010
Sunday, June 6, 2010
Add on Sales at Check Out
Dear Wine Retailers,
By the time a customer arrives at your checkout, they have made the decision to purchase something and the sale is all but guaranteed. At this point, creating the right situations to add on to this sale is an important part of your business. Many retailers ignore the opportunity of add on sales at the point of checkout and we consider this a lost opportunity. By providing the right product mix, the right display, and the right prices, you can generate extra profits without much work. This is is where accessories become important for your business as they have low retails but great margins.
We think there are two great opportunities to offer additional sales. The first and most obvious is at the checkout counter. It is important here to experiment and figure out what products will work. Often, retailers will put products that are under $10 and small in physical size. These properties are vital since for an add on sale to be successful, the customer must think they aren't spending much more. You can offer a variety of products that might capture your customers interest or need. Our most popular product at the point of sale is our waiters corkscrew that you can purchase in bulk and put out in any display near the register. Our second most popular point of sale item is our pocket corkscrews that retail for $1.99. And just like grocery stores that put candy near the registers, wine chocolates and truffles have also been a very succesful add on sale in many stores.
The second important aspect of a successful program is training your customer service team to mention the items that are in front of the customer at the time of checkout. Have you been to a Walgreens recently? If so, you notice that they have 5 different items (rotating items) that sell for $0.99. Whenever I purchase a product, the cashier will always ask me "would you like one of our $0.99 products of the day?". I always look through the products really quickly and although I don't buy one every time, I must say I've bought them at least 10% of the time. Equally, you can get your team to ask your customers one quick question such as "would you like a gift bag with that" to offer the chance for those taking a bottle of wine as a gift to wrap it. This is particularly powerful during a major gift giving season like Father's Day.
As with anything, maximizing your add on sales is a numbers game and requires consistency both in terms of your team reminding your customers as well as offering a good range of affordable products all the time.
Cheers!
By the time a customer arrives at your checkout, they have made the decision to purchase something and the sale is all but guaranteed. At this point, creating the right situations to add on to this sale is an important part of your business. Many retailers ignore the opportunity of add on sales at the point of checkout and we consider this a lost opportunity. By providing the right product mix, the right display, and the right prices, you can generate extra profits without much work. This is is where accessories become important for your business as they have low retails but great margins.
We think there are two great opportunities to offer additional sales. The first and most obvious is at the checkout counter. It is important here to experiment and figure out what products will work. Often, retailers will put products that are under $10 and small in physical size. These properties are vital since for an add on sale to be successful, the customer must think they aren't spending much more. You can offer a variety of products that might capture your customers interest or need. Our most popular product at the point of sale is our waiters corkscrew that you can purchase in bulk and put out in any display near the register. Our second most popular point of sale item is our pocket corkscrews that retail for $1.99. And just like grocery stores that put candy near the registers, wine chocolates and truffles have also been a very succesful add on sale in many stores.
The second important aspect of a successful program is training your customer service team to mention the items that are in front of the customer at the time of checkout. Have you been to a Walgreens recently? If so, you notice that they have 5 different items (rotating items) that sell for $0.99. Whenever I purchase a product, the cashier will always ask me "would you like one of our $0.99 products of the day?". I always look through the products really quickly and although I don't buy one every time, I must say I've bought them at least 10% of the time. Equally, you can get your team to ask your customers one quick question such as "would you like a gift bag with that" to offer the chance for those taking a bottle of wine as a gift to wrap it. This is particularly powerful during a major gift giving season like Father's Day.
As with anything, maximizing your add on sales is a numbers game and requires consistency both in terms of your team reminding your customers as well as offering a good range of affordable products all the time.
Cheers!
New Yorker Wine Bags
Dear Retailer:
Our staff really loves the cartoons. We often share our favorites because they quickly hit the funny bone without requiring watching a two minute youtube clip or reading an article. Perhaps its the sign of the times and our dwindling attention spans.
In any case, that was the inspiration for teaming with the New Yorker Magazine and using their wine related cartoons to create our exclusive wine bags. We are very proud to have 4 new wine bags with cartoons from the New Yorker featuring some hilarious wine related funnies!
Tuesday, June 1, 2010
Customer Loyalty
We value every one of our customers as I'm sure you do. So does the coffee shop I visit every morning and they have a small but effective way of showing it. They provide me with a punch card where after every 14 coffees I purchase, I get the 15th free. They also keep the card for me in a box by my last name which makes it really easy every time I walk in.
Loyalty programs are a part of lots of industries. Think of airlines that provide you a free ticket after traveling a certain distance. Or casinos, if you have had the pleasure of losing enough money at the tables, that comp a hotel room or two. But in retail stores, customer loyalty programs are typically offered only by small, local shops. Sure grocery stores have their club cards that offer you discounts while shopping, but it is more instantaneous discounts and doesn't reward you for coming back. Or rather, it doesn't reward your loyalty. Things are changing however as technology allows for personalized discounts. Take a look at this recent article of things to come.
But those go far beyond what most stores have the capability to do. The loyalty programs I am part of are my local coffee shop, music store, and bakery. They don't offer anything huge, but they do at least acknowledge that they've noticed me coming back over and over again. And that, I believe, is all people need sometimes.
If you've purchased from us over the past few years, you are well aware we don't have an official loyalty program, but we always go out of our way to provide you with small, unofficial perks with your orders that hopefully shows you we really do value your business. If Alanna, Bart, Ben, Audrey, Susan, Kristine, or Henri haven't done that for you recently, make sure you bring it up next time you order and give em hell!
We thought it would be interesting to see if any wine stores have a loyalty program. Do you offer more long term discounts for customers? Often, we see case discounts or 6 pack discounts, but we have never seen something like, purchase 15 bottles a month and get one free. If you have tried this, I would love to hear your thoughts.
Cheers!
True Fabrications
Loyalty programs are a part of lots of industries. Think of airlines that provide you a free ticket after traveling a certain distance. Or casinos, if you have had the pleasure of losing enough money at the tables, that comp a hotel room or two. But in retail stores, customer loyalty programs are typically offered only by small, local shops. Sure grocery stores have their club cards that offer you discounts while shopping, but it is more instantaneous discounts and doesn't reward you for coming back. Or rather, it doesn't reward your loyalty. Things are changing however as technology allows for personalized discounts. Take a look at this recent article of things to come.
But those go far beyond what most stores have the capability to do. The loyalty programs I am part of are my local coffee shop, music store, and bakery. They don't offer anything huge, but they do at least acknowledge that they've noticed me coming back over and over again. And that, I believe, is all people need sometimes.
If you've purchased from us over the past few years, you are well aware we don't have an official loyalty program, but we always go out of our way to provide you with small, unofficial perks with your orders that hopefully shows you we really do value your business. If Alanna, Bart, Ben, Audrey, Susan, Kristine, or Henri haven't done that for you recently, make sure you bring it up next time you order and give em hell!
We thought it would be interesting to see if any wine stores have a loyalty program. Do you offer more long term discounts for customers? Often, we see case discounts or 6 pack discounts, but we have never seen something like, purchase 15 bottles a month and get one free. If you have tried this, I would love to hear your thoughts.
Cheers!
True Fabrications
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