A SELLING STRATEGY FOR IMPULSE PURCHASES AT THE LUXURY LEVEL
FOR E-TAILERS & RETAILERS
Right now, I am writing a book about retail. It's turning into quite a beast, but I have a lot of knowledge that I can share to help retailers and E-tailers have more success. While I'm working on my book, I also started this blog and recently launched my channel on YouTube called "The Branding Samurai™", which focuses on the luxury packaging experience. A recent video entitled "Luxury Grab & Go™" was a good idea, and I decided it needed more air time.
FOR E-TAILERS & RETAILERS
Right now, I am writing a book about retail. It's turning into quite a beast, but I have a lot of knowledge that I can share to help retailers and E-tailers have more success. While I'm working on my book, I also started this blog and recently launched my channel on YouTube called "The Branding Samurai," which focuses on the luxury packaging experience. A recent video entitled "Luxury Grab & Go" was a good idea, and I decided it needed more air time.
HOW RETAILERS USUALLY SELL IMPULSE GIFTED ITEMS
While this concept has been around for a long time, has it been done right? When I think of a store like Neiman Marcus, they always have great items that are pre-packaged for the holidays. They offer multiple tables with stacks and stacks of gift items so you can "grab & go ."The problem is, they seem like items brought in just for the holidays. I am pretty familiar. I worked there. If you walked into Saks Fifth Avenue, you would see similar gift items merchandised in a similar type of display. The concept is to grab something for your aunt, a Dad, and a friend and call it a day. Many of these items aren't usually in the store, and they don't have that luxe vibe. Further, the quality often doesn't match the level of the store, and you can tell.
WHAT IF…
What if stores offered impulse items that sold for over $100+? It's a pretty easy concept to start fulfilling, and more importantly, your average sale will probably go up. Whether you're a retailer or an E-tailer, the idea still works. Keep reading.
HOW TO CHOOSE THE RIGHT LUXURY PRODUCTS
By choosing your bestsellers or talking to select vendors, you can ask them to provide some branded gifted items as pre-packaged (see my video) that carry a higher price point. You could take an assortment of items in your inventory and package them in your branded gift wrap. The result is the same—a fabulous find in your business that is a luxury grab & go.
HOW PEOPLE BUY LUXURY IMPULSE ITEMS
The theory about impulse items is that people walk into your store or surf online. Next thing you know, they remember they need a gift. Because you did such a fantastic merchandising job, they are clicking, or carrying, that item to checkout. You made it easy.
WHEN TO OFFER LUXURY GRAB & GO IMPULSE PURCHASES
Consider this. Most stores offer gift-wrapped items during the holidays. But what about a special day that belongs to each person? I am talking about birthday gifts.
You're separating yourself from the pack by offering pre-gifted, luxury items at your business year-round that are ready to go. People like convenience. You could go one step further and include a blank card that comes with the gift for them to fill out.
Another bonus? When items are pre-packaged, it means less handling by people. The merchandise is generally in pristine condition because it's boxed.
Now, are you ready to try something new and get more sales? I dare you because it will work.
Until next time,
Keverne Denahan
Luxury Copywriter & Brand Expert
Copyright © Keverne Denahan 2022