Easy Ways To Add Profits With Additional Merchandise
There is no divine rule that says you cannot offer some merchandise in your business even if you are not primarily in retail. All sorts of businesses are branching out and offering shopping options to their customers to supplement the profits they are already making on their services—from beauty salons to doctors’ offices. One way in which you can make this transition easily and to the maximum financial benefit to you is by stocking your small boutique or merchandise offerings with wholesale jewelry.
The More, The Merrier
The benefits of purchasing jewelry in bulk are plentiful. First, just as with any other product, buying in bulk is more cost effective. There are usually major discounts to purchasing jewelry in lump sums. This does not mean you cannot have custom pieces in your offerings; you can purchase all kinds of accessories from costume jewelry and handmade pieces to scarves and headwear.
If You Stock It, They Will Come
The key to deciding if adding wholesale jewelry offerings to your business would benefit you is your demographic. If your existing clients and customers already meet the targeted group to purchase these accessories, then it stands to reason that this venture would pay off.
The other thing you can play on is waiting time. If you are running an office where women will be sitting and waiting for any length of time, giving them something to browse through while at the same time playing into impulse buying. There are only so many back issues of magazines that your cliental will flip through before they want something else to occupy their minds. This could create the perfect environment for a little retail therapy, brought to them by your trendy jewelry.
Setting Up Shop
Even if you have no retail experience whatsoever, setting up a small boutique in your business does not have to be intimidating. Keep a few things in mind:
- Place your merchandise in an area that will catch the eye of your clients when they are either waiting or when they first enter your business. Even if they can’t immediately run to the shelves, the sparkles of the jewelry will catch their eye and they can always come back to it before they leave.
- Make buying easy for them. If it is going to be a hassle (i.e. you don’t accept certain methods of payment or require minimum purchases) then they will not want to buy anything. Try to make the buying process as rewarding as possible for your customer.
- Give back. Let them feel they are getting a steal by purchasing jewelry from you rather than a retail store. Something as simple as a buy two get one free deal could be the deciding factor in having them make a purchase.
Whether you are running a busy office or an upscale spa salon, the addition of a small boutique will not only benefit your client’s experience, but also your profits.