Maximise Your Store’s Profit this Bank Holiday with Retail Display Shelving
With another bank holiday approaching, and potentially nice weather too, people have an extra day free off work and in tandem with a recovering economic climate, then chances are that places of interest will be busier than normal. As such, this is an opportunity for those in the retail sector to make the most of people’s holiday spirit. One option for this is arranging the retail display shelving to make impulse buys more prominent to customers.
Therefore, it is important for stores of all kinds to think of ways they can maximise their profit. Surveys from 2012, show a lot of people leave their plans for a bank holiday until the last minute (the two main reasons for this being the financial side of things and the unpredictability of British weather).
As people tend to make decisions last minute, (especially on May bank holidays as there are two in close proximity) then location depending it isn’t too prudent to overstock on items that may not be needed. However, by buying in stock that may be of seasonal interest and displaying these items prominently, then an additional profit could be made.
Weather dependent, what sells well on a given bank holiday varies. For a sunny warm bank holiday, barbecue products and potentially beers and wines could be given prominence, as people are likely to want to make the most of the weather while the chance is there.
Alternatively, people may choose to have a dinner party or family meal over the course of the weekend, therefore positioning high quality ingredients of a meal prominently on your retail display shelving has the potential to spur on sales of these particular products.
Research has shown that following on from the Olympics and jubilee celebrations in 2012, then people are showing a keen interest in days out to explore the country; as such it is also worth putting an emphasis on things people may take with them, such as packs of drinks or additional snacks and treats for journeys they may be making.
As the country is still in the process of recovering economically, it is important for retailers to be opportunistic in their tactics. Food and drink is expected to be one of the few growth areas in retail, and as such, by taking whatever measures possible to up sell, then businesses can achieve greater profitability by optimising their retail display shelving space.
Overall, the layout of your store is an important factor in boosting your profits. When people can find what they are looking for it is a great help to them, but when they find products that they may not have known they wanted, because of the clever lay out of your retail shelving system, then it is an added sale you may not have made.