Wednesday, January 30, 2019

Retailers should consider selling online, too

If you're a NASCAR fan, chances are you once visited the Richard Childress shop and gift store in Welcome, North Carolina. Years ago, there were some store items that just didn't sell. So the manager put them online. Wow. They sold out in a hurry. So he started adding more items to the online store. He raised the prices back to the regular price. Items kept selling. The manager couldn't believe that he wound up selling so many items online. Yes, he wound up with two stores - a bricks and mortar store and one via the Internet.

This was a good case study that I have shared with students in my small business promotion classes. 

Why just have one door into your store when you can have two? Wouldn't you like to double your money? It can happen. But when you do something like that, you need to really plan your promotional strategies. Always include your bricks and mortar store address with your online store address. Mentally believe that you have two stores, not one. Chart the items that sell and don't sell. Does your graph look the same for your physical location as it does for your online location? These are things to watch.

MARKETING TIP: Got a retail store? Want to make more money? Open one online. Promote them both. Let your customers know they have options. Hey, Walmart has done a pretty darned good job showing us the way ....

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