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Hey Fam, It’s Adrienne!
Happy Belated Valentines!
The guys are back from Nationwide Marketing Group’s PrimeTime, and helping author Ron Thurston kick off his journey across America as he travels via airstream telling the stories of retail workers on the frontline.
Do you know the one skill every associate needs to have? Hint: it’s not just the ability to sell.
Also, warehouse clubs and department stores dominate these price points. What are they? Find out with our exclusive research conducted in partnership with Nationwide Marketing Group.
Have something to share? Text our Podium number at 843-627-2672.
Dos Marcos Show
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Telling the Stories from the Stores with Ron Thurston
Working in retail is at a precipice. Stress is at an all time high and people are feeling pressured now more than ever before. Enter Ron Thurston and his gratitude tour across America. He is loading up his airstream, attaching it to an F-250 and traveling to stores across the country to give a voice to the retail heroes who are keeping the system going.
Listen and subscribe to the Dos Marcos Show on:
One Skill Every Sales Associate Needs
Mattress
You might assume that every sales associate needs to have confidence in themselves and the ability to not take no as a final answer. Those are true. They do need both of those characteristics, but there is an often overlooked skill that may be more important than both of those: empathy.
Retail
5 Retail Marketing Strategies That Will Help You Win Locally
Podium recently hosted a webinar alongside a furniture retailer to discuss the need to bridge the gap between online and the in-store experience.
It is not a surprise that most customers begin their shopping journey online. Find out the driving force that propels a shopper into the store and how you can complete the sale.
News and Headlines
Mattress Mack is at it again! Mattress Mack wagered a legal $5 million dollar sports bet on the Cincinnati Bengals for the Super Bowl.
Durational Capital Management is an unknown in the investor world. Yet, it recently acquired Casper after their whirlwind year in 2021 that included significant layoffs, as well as a surprise resignation by their CEO. So, who are they? What is their typical investment? And will they have the necessary capital to close this deal?
Blind adventurer Erik Weihenmayer delivered the opening keynote at PrimeTime and shared a powerful message with attendees about how to use challenges and adversity to propel their businesses to new heights.
Nationwide introduced a new project information management system that aims to improve the quality of vendor data to help retailers deliver a consistent website experience—dubbed the “redefined furniture-centric shopping experience.”
Data Digs
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!
Podcast
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Adventures of Mattman: The Seven Day Sleep Challenge
In episode 23, Mattman is live and he’s issued us a seven-day sleep challenge to complete this year. Do you think you can handle it?
Fun & Folly
What were the best commercials of the Super Bowl? We’re so glad you asked.
Did you know Valentines Day started with the Romans? There are two theories as to its exact origin; one includes naked, dancing men and the other secret wedding ceremonies in the name of love.
It has been commonly claimed that cows have 4 stomachs, but according to the FDA that’s just not true.
Pride and Prejudice is a timeless classic, but did you know that wasn’t the original title?
Foot Traffic Drivers
Need helping getting more people to your store?
Here’s an idea…
Reward your customers for their purchases. Using a similar online-influencer program, offer some of your best customers discount codes or coupons to pass along to their friends. As their friends shop in-store or online and use their friend’s passes, both customers receive a benefit.
Influencer marketing online has become an effective marketing tool, but you don’t have to limit the strategy to only those with massive followings. Utilize those with nano or micro followings (nano = less than 1,000 and micro = less than 10,000). Many brands are finding these smaller, but more meaningful audiences engaged and worth the investment.
On the hunt for more foot-traffic-driving ideas?
Pick up a copy of Kinsley and Quinn’s #1 Amazon bestselling book, “Come Back to Bed: Attract More Foot Traffic and Make People Fall in Love with Your Store.”
Amazing Sponsors
Retailers Love Englander. For more than 125 years, Englander has been making mattresses you’d recommend to your mom. See what real retailers have to say in these videos.
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.
Advice Column
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This is Mark and Mark’s advice column and it’s bound to get weird.
Everyone needs a little advice now and then.
You can ask us anything. Just don’t expect an obvious answer.
Launching a new marketing campaign and need feedback? We’ve got your back. Naming your first born son? No problem. Trying to break the world record for most sprinkles on an ice cream cone? We know a guy.
Or, text your question to our Podium number at 843-627-2672. We’ll publish our advice here in the newsletter and on fam.news.
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