Being More Strategic With Your Add-Ons as a Retailer | Retail Today With Bob Phibbs, the Retail Doctor - Flash Briefing

Let's face it, there are fewer people walking in your brick-and-mortar store, and that's because any trip we save by buying online through Alexa or something else is one less going into your community. So, how do you make up the difference? Well, you have to get more out of the people that are walking in your door. So that's why you want to be able to cross sell, to be able to say, “Buy this item with this in a bundle,” or to add on after someone decides on the main purchase, then you're going to suggest one other item that gives them more enjoyment or makes it easier for the first item they picked out.

The key is, don't just come up with a laundry list, right? “Oh, it goes with this, and you could buy this and this.” Just lock up the most expensive first product first. If that's flooring for the house, then you just suggest the moldings. If you're selling window treatments, then you're talking about the headliners, or the cords, or the automation. But you don't keep them all together - you selectively add on, and when you do that, you can increase the number of items going out your store and more importantly, increase margins. So that's the way add-ons help customers get even more from their original purchase.

If you love what you heard on Retail Today, connect with Bob by visiting retaildoc.com or send a message to bob@retaildoc.com. Thanks for listening!

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