Bricks and Mortar Retailers, Can I Buy From You? Please!
The internet is winning and it’s your fault!
When looking at survey results and even comments on various business news/blog sites an overwhelming theme is
customers whinging about lack of knowledgable service, stock availability and of course price. I’ll leave price out for now because if you follow that logic through, there will only be one surviving “cheapest” retailer on the planet, Because someone bigger and cheaper will always come along until one day they are the last man /woman standing.
BUT lets look at something we can control and this article is about stock availability. It’s not the customers fault you don’t have it in the size, colour and style they want. It’s yours, and here’s why. Fistly it’s too easy to try and be all things to all people and that leads to pleasing no-one. Pick a niche and be GREAT at it. And by being great at it I mean having what those niche customers want when they come in. STOCK! This means you can narrow down your stock holding and be a little bit more special.
I have lost count of the times I walk into the hardware store to buy a D Shackle for example. They have 10 different sizes and guess what. The one I want is gone and even the two sizes either side! Why? Because they are the most popular and sell well, but not today because there anren’t any on the hook. I wonder for how long they are out of stock, or have been out of stock. I go elsewhere. And I also buy all the other more expensive stuff that was going with the $2.99 D Shackle elsewhere when I find it.
Now why do stores continually order the same number of items no matter what their size? Why would you bother to barcode the product if you never look in your computer system to see how many you sell and how quick they sell and then adjust an order to suit.
Oh, I’m not picking on Hardware stores, I have been forced to buy ELSEWHERE and ONLINE in Marine stores with Anti Foul Paint, Polish and Fittings. Big Marine stores too! Sports stores for attachments to the Training watches they sell and stock, training shoes. Shop fitting stores for COATHANGERS for christ sake! I went to a specialist chair shop to buy a $500 chair. They had 20 chairs on display and they only sell chairs. BUT they did not have the chair in stock, but I could order it. They only carry 20 chairs!!!!
Well HELLO! I can order stuff myself and did and bought it elsewhere, so can and do your customers. I don’t need a catalogue I can get that online. When I drive into your store I want to give you money and BUY IT NOW! Did I mention I drove 300 kilometres to go to that “specialist” chair shop?
Why shouldn’t our customers go online and shop when this is how we treat them! I am going online after writing this as the BIG CITY shop fitting store I rang yesterday could only send me 50 coathangers. I want hundreds and I’ll buy them online and may never go back to that store, Because I can order myself.
Are you getting the picture? If you proclaim to be a some sort of shop, then have the stock the customers want.
Here’s how to do it:
Search your top 10 money making categories, then search the top 5-10 products within those categories and stock up! The consumer has told you what they want from you in that search of your categories, so give it to them! Don’t fill the shop with all the crap no one is buying.
Lat year I sold 80 of a certain brand ladies Jumper because that was all I had. It was a great sell through. This year I sold over 400 of the same Jumper! Because I kept giving the customer what they wanted and re ordering, Oh and I had 6 left over this year. Which trading year would you rather?
The Havaianas (most popular thong ever) rep told me that last summer the public were flat out phoning her asking where to buy a slim black thong (the most popular style) in South Australia. She rattled off the names of all the big and small stores and the public kept telling her “sorry tried there”. So here you have the best selling style of the best selling thong brand OUT OF STOCK in retailers stores yet the wholesaler had plenty of stock.
I bet if you looked at the thong areas of many of those stores they would have looked like they had plenty of thongs, but not the most popular thong! And missed a heap of sales.
Lesson: Know your top 10 categories and know the top ten styles/colours sizes in those categories and make sure you have plenty of stock! Oh, and did I mention once you have the stock, count it and then refill. It sold for a reason, it’s popular! You won’t get it right 100% of the time but most of the time will be good enough to see your sales grow and keep the customers coming back, because they know you have it in stock.
Why do this! Because I really want to buy from you and so do your regular customers but if you keep turning them away by not having what they want then don’t blame them for shopping elsewhere/online.
