Expert Advice

“Retail As Destination” Mindset

Web Editor | July 10, 2011 | 7:07 PM
High-Yield Retailing

“Retail As Destination” Mindset

Salon owner and NCA president Mark Goodman says high-yield retailing requires a "retail as destination" mindset, at least four product lines (for business, natural, on-the-edge and bargain-minded clients) and extreme accessibility, including a place to test and try, plus street visibility. Here's what he adds to the mix:

Name of salon: The Hair-Designers

Location: Hilton Head, South Carolina

Bright Idea: Goodman employs "big-store strategies." Best sellers are not at eye level; sales he wants to encourage are. He continually changes displays, like the drug chains do, and includes unexpected items, from sundries to the newest work from a local photographer. At "checkout," he displays nail polish, lipsticks or gift items at eye level.

Why it works: "We focus on different types of products to meet the needs of all potential clients, and use placement like the mass markets do. Now, clients think of us as a retail destination. Changing displays often forces focused attention, but we aren't as big as the grocery stores that do this, so it doesn't become a frustration."

Bottom line: Since retooling retail, Goodman says sales went from about 2-percent to nearly 20-percent of sales.

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