Not always the biggest month for golf retailers, October tends to signal the end of summer and, with the Ryder Cup now behind us, can feel like the death of the season. Whether you're an experienced retailer, or brand new, our very own Matt Peace gives you 3 words for retail super-stardom this month.
“Success breeds complacency. Complacency breeds failure.” (Andy Grove, American Businessman and Pioneer).
Hopefully, your shop has enjoyed a busy, profitable summer and, whilst you might welcome an easy few weeks, now really isn’t the time to rest on your laurels. The market data tells us that November is usually a bigger month for pro shops. So, what can you be doing now to optimise November and December sales, and ensure you’re track for retail super-stardom in the New Year?
Whoa! Where did THAT come from? It only seems like last week when we were basking in summer sunshine, and now we’re talking jingle bells and snowmen. Well, not quite, but how long can you afford to wait before you think about Christmas?
I’m writing this in mid-September and, ALREADY, the end-of-aisle displays in supermarkets are full of Christmas stocking goodies. This is eyeball-rolling stuff whether you’re a fan of Christmas, or not, but as a retailer, you CAN turn this to your advantage.
I guarantee there’ll be lots of customers who love Christmas more than you, and a festive theme in the shop DOES get more people walking through your door. No matter how you feel about the Christmas season, get behind it as early as you can with decorations, music, and even a Christmas film on the pro shop TV.
Think about stock that would make good Christmas presents, and re-position gift ideas around the shop to ensure they’re up front. Produce seasonal posters, perhaps with special promotions, and you could even offer a gift wrap service.
When it comes to stock this month, it’s all about Autumn Winter items now and it’s crucial to rid the shop of Summer stock, to make way for the new season.
A ‘Store or Clear’ approach is the best strategy. If you decide to ‘store’ your old stock, just remember you’ll need room for the new Autumn Winter items arriving.
However, if you choose to ‘Clear’ old stock items, firstly, make sure you appreciate what your excess stock is. Don’t guess. A good epos system will be able to tell you which products are “unpopular” or haven’t sold. Make sure your whole team knows – and incentivise them to make more sales!
The Golden Rule is that no stock items should have a birthday and ideally you should be turning over stock every 3-4 months.
Remerchandising is a great way to clear unwanted stock. Try replacing worn-out price tags, moving stock around and giving the shop a fresh look. It’s amazing what a ‘re-jig’ can do.
Running an End of Season sale is great to help you clear old, unwanted items, but have a strategy in mind to ensure you don’t discount too much. A ‘Flash Sale’ over a short period of time is manageable and helps you to monitor whether it’s working, without letting complacency set in. Use social media to promote it and attract more people to the shop.
Remember Black Friday is just around the corner, so it’s worth bearing this in mind, and planning what items you may want to put aside for that sale too, if you’re going to get behind it.
Watch out for our article on Black Friday. Published next week, we'll talk you through the things you need to think about before deciding to take part in this annual event, and what to do in the lead up to the big day.
Crossover Technologies is the maker of XPOS, the ultimate sales and stock management solution, designed specifically for sports retailers: Helping you to reduce stock, improve margins and be a better retailer. Read more about how XPOS can help your business here.
Matt Peace is Sales Manager at Crossover Technologies. If you'd like to meet Matt for a free demonstration of XPOS, or to find out how the system can help you make more money from your retail business, call us today 01454 418395