How to get bigger revenue from the shop? Read the article to find out the main rules.
Business in Nigeria gathers great popularity. In particular, it concerns various shops. Therefore, many people who have decided to begin their own business, ask a question: how to increase sales? These tips will help you to find an answer.
How to increase sales in retail and online shops?
- Reconsider the service. Provide trainings of sales with sellers. Perhaps in your shop there is no increase in sales for the reason that sellers aren't able to sell? As a good person is not a profession, a friendly employee behind a counter is not a seller yet. Perhaps, employees of shop would like to increase the average check volume, but just don't know how. Invite successful business coach, who will help sellers to seize skills of sales and make active trainings before give the permission of a new seller to begin his job. Re-qualify all the team you have. A trainer should handle all the system. In other words, the business coach will show and tell how to sell, work on practice of sales, tell what is necessary to increase revenues of shop.
- Analyze sales reports for the last 3-4 months. For certain, you will find unclaimed positions. If they are on realization, agree with the supplier about return or replacement by similar models, but which would be quickly realized by you. In other words, build the ABC system. The most popular items should be in A category. B is for lower-demanded and C for those, which almost never are required by your customers. Build the ABC table and get rid of C group to concentrate the most part of your turnover funds in A & B only.
- Guarantee of good commodity turnover: the faster this indicator is (lesser amount of days), the better is your financial indicator of income per every invested Naira. You must try to revive the turnover as fast as possible to receive better gross income. Thus, you’ll be able to lower your prices, earning the same, beating up your competitors.
- Develop advertising or PR campaign. To attract more buyers, there are two ways. The way of advertising (including image: in glossy magazines, TV, airs etc.) should be chosen to the shops trading in expensive, unique or large-size goods, acquired by consumers. People can go to such shops in all city. For advertising campaign, it is necessary to make a competent media plan, and also to develop mechanisms of check of recoverability of invested funds in it.
- Shops in the step availability, including grocery stores, are for, first of all, on the audience living or working in close proximity of population. So implement programs of loyalty to increase sales in such shops and adjust the assortment to the needs of your everyday consumers. Attract the buyer to the shop. It can be done with discounts like 'The third purchase in a week – a discount of 20%'. The shop may also have loyalty program like 'Bring Two Friends — Receive a Discount from Their Purchases in 15%' or similar.
- Grocery stores can recommend selling 5-6 goods of great demand without trade margin. Then the rumor, that in this shop certain products cost cheaper than in others, will quickly go among people. People, along with these items, will buy others, increasing your gross income.
- These rules can be used also in online shops, like Amazon or eBay. The only thing different is a design of shop. Make is user-friendly as much as possible. Take qualitative pictures of goods with beautiful models. Sort them according to the name, price and color.
- READ ALSO: What is sales promotion