This is the third installment in a three-part series by merchandising & sales expert Denis Caldora centered around the Dallas Market.
• Review Your Market Purchases
If you have been reading my past two articles, then you will have already photographed your displays before you left for January Market, brought your binder of photos with you to the show, and made your purchases accordingly. You know the winners in your showroom as well as the buying mistakes in your past. Now you’re back home from Market and waiting for the merchandise to come in.
• Time to Blow Out Under-Performers
The months of February and March are typically a slow time of year for lighting showrooms. To make room for the new products you bought, this is the perfect opportunity to hold a “Floor Sample Sale.”
I’m a firm believer in not having a lot of “Sales” because it conditions consumers to expect a discount. The concept loses its impact and call to action. Instead, I recommend having a “Sale” only once or twice a year to clear out the lamps and fixtures that have not sold well. If you don’t hold sales often, customers realize that when you advertise a “Sale” that is a special event and will make the trip to your store to get a great deal.
• Don’t Create a Clearance or Sale Corner
If you group all of your under-performing lamps and fixtures together, you will just have a hodgepodge of “dogs” that don’t make aesthetic sense. Instead, keep the fixtures and lamps within their designated style groupings, but hang a tag on each marked “Special Value” or “Floor Sample.” This type of event is not going to necessarily get the fashion-forward customer to come in, but you will attract people who are looking for a great deal when sprucing up their homes, and that can add up to a sizable number. –