Psychologist Daniel Kahneman “It is the consistency of the information that matters for a good story, not its completeness”. The more information you add, the more you risk of having information that does not fit the initial “story”.
So when selling to a customer, make sure you explain everything they need to know but try avoiding going too far as you risk making the decision more difficult to make.
There are big differences in the way men and women shop.
One of them is that men usually have an idea as to what they want. They come to the shop like someone on a mission, grab the stuff and then leave.
However men usually struggle when they buy for someone else (say a present for a significant other or children). In that case they will need recommendations and suggestions and this is when you can really do your sales job.
You have items sitting on your shelves and in your storeroom which have been there for years. This is dead stock. Please note even the best run companies have about 20 to 30% of their inventory as dead stock.
It is easy to dismiss those items as just filling space (which can be useful sometimes) but they cost a lot more than you think:
warehousing. If you are large enough to have a warehouse, you know the value of each square meter of space. If it is filled with stock you do not sell, you are wasting money.
cost of money. You have paid for this stock and you may have had to borrow to buy other stock. Which means this dead stock comes with interest…
shelf space. Your dead stock is taking the shelf space of items which could sell a lot faster. Maybe your dead stock is in prime space in your shop.
insurance. Your dead stock is still valued and as such you are paying more insurance because of it.
discount. You may have to discount the stock to get rid of it, which usually means selling it at below cost price.
admin cost. The more dead stock you have, the more time you spend counting it, moving it, inventoring it, etc… All this equates to a lot of time for no end result.
Nowadays customers are used to browse online catalogues. They use their tablets and phones to gather information before making a purchase.
This is true even if you cater for a local customer base.
In order to make sure they commit and do not simply take a chance when seeing a product they like on your website and hope you will still have it next time they are visiting you, make sure you offer click and collect.
It also helps your inventory and cashflow as payment is taken at the time of order even if they collect days later.