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Retailers: "Reach Out and Touch Someone" Robert Cyr in Liquidation Merchandise, Sales and Marketing June 7th, 2008

 

Everyone can relate to the seeing a movie and walking away either ready to cry or put on a cape and save the world. Those of you that are old enough to remember the movie “Rocky” with Sylvester Stallone will understand what I am talking about.

Spending money can be a real emotional experience for many people.  When shoppers buy based upon an emotional feeling they will spend more money.

Ok, for fear I am loosing some of you lets look at some examples of emotional spending:

Buying a new car - Taking that test drive…ah that new car smell, the acceleration and the fact that you look very cool in a new ride! Pure emotion. The dealership shark salesperson understands that if you are involved emotionally…a sale will take place. You will hear him say things like, “How did it FEEL driving down the freeway” or “Wait until your friends see you in this ride!”

Buying an engagement ring – This very act has emotion written all over it. The buyer will typically experience FEAR that if a large enough diamond is not purchased the receiver will not feel LOVED. When love is involved, money is never an issue….right?

The above examples are large purchases and may be a bit extreme, but emotional spending occurs with smaller purchases as well. If you have a retail store of any size you should use the power of emotion to increase sales and cash flow.

“Ok, makes sense…how do I implement this emotional marketing in my store?”

I am so glad you asked…

Retail advertising phrases like, “Inventory Reduction” or “Final Markdown” create a sense of urgency and emotion in retail shoppers. Combine this emotional advertising  with products at a great price and watch your sales go through the roof!

 

Large Big-Box retailers will heavily advertise extreme discounts to bring shoppers through the front door. I have been in large department stores and watched the sales staff open new cartons and cases of merchandise that is already marked “clearance”.

Did you catch that? Here it is again…new retail merchandise already marked down before it hits the shelf!  Why? Consumers want  to feel as though they are saving money. Happy shoppers spend more!

I would suggest that you maintain a particular area in your store for Liquidation merchandise…ongoing. People love to save or feel like they are saving money!

I like the phrase: emotional retail marketing…as a retailer you should as well. Appeal to the emotional side of your customer base offering products at unheard of pricing and your average sales ticket per customer will increase.

When ordering inventory plan on ordering merchandise to liquidate as apart of a liquidation promotion. Ask your wholesaler if they are “closing out” any merchandise or better yet find a wholesale liquidation company to start buying from. Bring merchandise into your store with the intent to liquidate it. Wholesale liquidators specializes in selling name brand closeout merchandise at a fraction of the original retail and/or wholesale price!

Sourcing merchandise from a liquidator allows you, the retailer, to stock your clearance shelves with fast selling, low priced merchandise. Make it a habit to buy merchandise on a regular basis and hold “Final Markdown” sales events.

Get emotional!

Your customers will love shopping at your store!