Plus, did you know that warehouses and club stores still dominate on price for certain items? It’s true, check out what they are and learn what you can do to compete.
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Dos Marcos Show
How to Deliver Frictionless Financing: Koalifi’s ‘Never Say No’ Motto
Who can relate to a lost sale simply because a customer didn’t qualify for financing? Far too many retailers are losing out on sales and lease options simply because they don’t use Koalafi (pronounced “Qualify”). Check out this episode with Craig Leffew, Vice President of Sales for the company, to learn how they’ve managed to never say no to a customer and how that can benefit you!
Warehouse Clubs and Department Stores Dominate These Price Points
Our research with Nationwide Marketing Group showed that nearly a third of recent buyers spent $500 – $999 and 74% of that business went to Warehouse Clubs and Department stores.
Sleep shops did well above $1,000, ranking as a top buying location for products in the $1,000 – $1,999 range. Furniture stores didn’t appear in the top two of any price band until the above $2,500 where they ranked number two.
Where should you try to compete? Many retailers have moved up market and are working to sell premium priced products. That’s where the margin lives and that’s where your business can grow. You need to be prepared to sell higher end products by evaluating the entire experience you’re creating. From the parking lot to the back dock, make sure you create what’s expected when someone is spending more than $2,000 on a bed. And when you know what they’re expecting, blow their minds with something surprising and delightful!
Hungry for more useful data? Get the full report for free when you become a FAM+ Member, brought to you by Nationwide Marketing Group!
Get Your Piece: 1 Billion Hours of Video Watched on Youtube Every Day
Around 2015, Facebook changed its News Feed ranking system to weigh videos more heavily than links. Then in 2017, MTV announced it was “pivoting to video.”
Ticket to Dream Aims to Celebrate 6,000 Foster Grads
For youth in foster care, only 50% graduate from high school—and only 3% graduate from college.
That’s why graduating high school or college is such an important milestone for kids in foster care.
Ticket to Dream Foundation, a non-profit that helps foster kids across the country, just launched their 6th annual Cards for Grads campaign to celebrate and acknowledge the success of this year’s foster grads, rooting them on for their next steps into adulthood.
Keep a small quantity of seasonal-only items in your store. Stock patio furniture, outdoor umbrellas, planters and fountains. In the summer, expand into swings and tables and other outdoor furniture that will help your customer create an outdoor living oasis! If the last year has taught us anything it’s that people want to enjoy their living spaces, so help them bring the indoors, outdoors!
Take it one step further and partner with local nurseries and landscape artists and create some strategic classes to help people get creative in knowing how to decorate an outdoor space with plants and furniture. Sometimes it’s not a matter of whether people want to create an aesthetically pleasing outdoor space, it is that they simply don’t know how or where to start. Make it easy and become a one-stop shop!
The Queen Loves Us. Sure, Prince Harry and Megs are on the outs with the Royal Family, but the Queen still loves Spink & Co. Their farm-to-bedroom luxury mattresses are fit for the Queen and ready for your retail floor. Find out more about how they grow luxury beds.
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