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SEARCHSalon owner and NCA president Mark Goodman says high-yield retailing requires a “retail as destination” mindset, at least four product lines and extreme accessibility, including a place to test and try, plus street visibility.
High-Yield Retailing
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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