Are You Selling Little Luxuries?
Recession or no recession, consumers love luxury. But not everyone can afford it. So rather than dwell on this, focus on how you can introduce “little luxuries” to your retail mix.
Have a home goods store? Highlight throw pillows and explain how a new couch isn’t always the answer but rather how pillows can do the trick. Sell footwear with brand savvy customers? Introduce similiar fashion at a third of the cost of other brands and show your customers pictures so they can see that they can get the same style for less. Have a little bit of everything in your store? Talk to your wholesalers about where you can get a deal from them so that your customers can, too. The idea is that you want to promote these little luxuries so that your customers get what you are telling them. Let them know that luxury comes in all shapes and sizes and if it’s perceived as luxury to them, that is all that matters.
My latest luxury? A marked down top that went from $150 to $45 at a favorite boutique. Sales count, too, here so don’ think that a cluttered rack of sales product isn’t hiding some amazing treats for your shoppers. Make it fun and remind them little luxuries can show up anywhere. Afterall, isn’t that what shopping is all about? We all want to feel like we have found our own little luxury.
Robin Lee Simmons
As always your posts are soooo wonderful and helpful…thank you, Nicole!!!!
Ted Hurlbut
These “little luxeries” are important in any assortment. They are the high-impulse, add-on sales that drive units-per-transaction and average sale. There’s nothing more important in this environment than getting the most out of the customers that you have.
Simone
During the great depression, lipstick sales soared. The little affordable luxuries…