30 Apr 2007


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50 tips for better profit

Would you like an extra 15p from every customer who uses your shop?

Would you like to get an extra 15p from every customer who uses your shop each time they come to the till? Here are Actionline's top 50 tips:

1. Offer an attractive impulse purchase at the checkout
2. Position complementary goods together such as fresh strawberries alongside cream
3. Offer a special deal for customers buying two of a certain product
4. Encourage staff to suggest additional purchases
5. Look at the margins you are getting. Can they be improved?
6. Introduce new lines
7. Cut out the slower sellers
8. Highlight promoted products and ensure they are well displayed
9. Use dump bins and off shelf displays to encourage extra sales
10. Organise a local leaflet drop highlighting your special offers
11. Use shelftalkers to highlight promoted lines
12. Hold themed promotions throughout the year
13. Promote larger sized packs
14. Ensure minimum out-of-stocks therefore maximum availability
15. Keep queuing to a minimum at all service points
16. Arrange tastings to promote goods
17. Increase your stock range to include more exclusive items
18. Sell at more competitive prices
19. Ensure standards are high and the shop is well merchandised and stocked
20. Build large displays of special prices stock
21. Train staff to offer sensible alternatives
22. Make sure you are always in stock of the 200 top sellers
23. Use higher value lines when promoting
24. Introduce special activities to encourage customers to return
25. Offer local produce
26. Have a give-away for each customer spending £10 or more and get a supplier to help out
27. Use a gondola to promote cheap lines and essential commodities
28. Have a 'service with a smile' week
29. Re-merchandise and move sections to create interest
30. Increase prices in less noticeable sections
31. Ask your customers what lines you do not sell which they want to buy
32. Ensure the brand leaders are stocked in all sections
33. Always offer choice, value and promotions rather than one-off price promotions
34. Highlight a daily special promotion on a blackboard outside the shop
35. Take on agencies such as dry cleaning, shoe repairs or film processing which give commission without cost
36. Actively promote multi-packs
37. Promote seasonal items with a window display
38. Stock current trend items like ethnic foods with advice on preparation at home
39. Try higher value items like CDs
40. Hold a local advertising campaign
41. Introduce a multi-purchase discount scheme on selected lines
42. Hold a free prize draw for customers
43. Increase volume by reducing the price of KVIs
44. Shout about your reductions!
45. Introduce a new section such as greengrocery, home-baked bread, flowers, fresh cut cheese, fresh meat
46. Have a free kiddie ride in store to generate interest
47. Make use of new technology when merchandising such as Spacemate, scanning information and so on
48. Promote your own-label such as four for the price of three
49. Add value to deli products such as cooked chicken and stuffed pork
50. Personally draw your customers' attention to your special offers

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nafisa	07 May 2008 15:57:37
As a new retailer, your list has certainly given me ideas and i will certainly try most of the things suggested however please would you advise me where i would find agencies to join like dry cleaners, etc and also where would i be able to get window friezes(outline stickers) for my shop windows? I see some shops have coke friezes around their windows, where would they have got those from? thanks!