The following article was written by Cornelia Carmen Ortega of RetailSalesTraining.Org.
Retail Sales Increase 1.2% Pushing Hope for the Holiday Season - Plus 5 Easy Tips to Increase Your Sales
The Commerce Department noted that October '10 sales for the retail industry jumped 1.2 percent from the previous month, the largest gain since March. The rise was driven by a 5 % spike in auto sales, which analysts said was particularly encouraging since it showed consumers were ready to tackle big-ticket purchases. Furthermore, September's sales gain was revised upward from a 0.6 percent increase to 0.7 percent.
Still, people remained choosy about where they spent their dollars. Home furnishings stores and electronics retailers each suffered a 0.7 percent drop in sales. Department store sales also declined 0.7 percent, while health-care stores dipped 0.1 percent.
Instead, consumers returned to restaurants and bars, sending sales up 0. 3 percent. On-line retailers, who have held up a lot better than their bricks-and-mortar counterparts, registered a 0.8 percent jump. People also bought more clothing, a 0.7 percent boost.
Excluding autos, retail sales rose a good 0.4 percent, despite the mixed performance across sectors. Retailers are hoping the momentum will fuel the all-important winter holiday.
As outlined by a survey by the National Retail Federation, a business trade group, nearly 11 percent of consumers have finished the vast majority of their holiday shopping, up from just a lot more than 9 percent a year ago. The group predicted shopper's average spending would inch as much as $688.87 this season, a 1 percent increase over last year.
The NRF's annual holiday survey found that more shoppers are expected to get gifts for family and friends - and even themselves. The number of consumers who said they planned to indulge themselves rose eight percentage points to 57 percent this season.
The forecasts, coupled with the newest October data, paint an image of consumers treading carefully on their way to the mall. Economists say that expenses are unlikely to rebound with no corresponding improvement in the employment market.
The unemployment rate remains stuck at nearly 10 percent, data released from the Bureau of Labor Statistics showed hope. Mass layoffs have declined in proportions and frequency. And private-sector employment rose 0. 3 % during the third quarter, in comparison with this past year, the first increase since 2008.
How could you increase add-on sales through the Holidays?
Here are some approaches to increase the units per transaction, and boost the average transaction as a result.
If you like this, you should purchase that - Creating feature areas within your store which may have several major things you want to push for holiday flanked by complimentary products helps sell not just that particular item. Use signage and have the employees talk with customers to help them know how the products interact.
Stuff the Stockings - I continue to push stocking stuffers for holiday as customers will always be searching for those unique, fun little things that round out their holiday gift giving having to break the bank. Create a whole stocking stuffer display making it interactive, like a stocking stuffer smorgasbord to get customers to purchase a number of additional items.
Sample products - Whenever they check it out, they may buy it. Make sure you've products readily available for testing everywhere and use signage, or have the workers interact to get customers to try different products. The chance for a sale rises significantly when you can place the product inside the customer's hand.
A warm drink may be the approach to get them to stay - offering a warm beverage like coffee or apple cider gets customers to linger longer. It gives them time to scope out more of your store as they walk around enjoying their beverage. And meaning they might find more gifts than that they planned on, resulting in increased sales.
Wrap the Cash Wrap - You've made a number of different ways with your store to get your clients to purchase more, and the cash wrap will be the final opportunity. Make sure you've got impulse items at your cash wrap that customers can grab and go. Products under $20 usually perform best. Bonus points for products that can be sampled in addition to 8-10 ones available.
So you? What are your favourite sales techniques to increase Holiday sales?
About the Author: Cornelia Carmen Ortega writes for www.retailsalestraining.org, her blog which is centered on recommendations to help retailers coach sales employees - and to keep our economy healthy.
Comments