How would you like to be able to rapidly increase sales of your wholesale products?
It is one thing to be able to buy highly stylish and popular brand name wholesale clothing and shoes at closeout prices and it’s another thing to actually sell the merchandise that you buy. You know the excitement of discovering a rock bottom liquidation price on a pallet of designer corporate suits by brands such as Tahari, Jones New York, Kasper, ad Calvin Klein. You know the profit potential that awaits you when you buy from your wholesale supplier at the right price. If you want to actually benefit from the amazing overstock fashion purchases which you make for your boutique, whether you are located in Lagos or Miami Beach, you need to have a strategy in place to effectively sell your closeout inventory.
Below are 3 ways to make sales happen in your shop. While these 5 strategies can be very effective, and can be generally applied in every type of retail business, whether you run a shoe boutique or office wear clothing shop, I recommend that you tailor these strategies to your own situation by slowly testing them out in your market.
Strategy #1
Start a membership club. You can set up a free membership club that rewards your shoppers for their loyalty, this way you will encourage them to purchase additional items at your store, and preferably on a regular basis. For example, if you have a store that sells wholesale business attire to Nigerian bankers, you can set up a plan where they receive their 5th office suit for free, or points which they can redeem towards a future sale.
Strategy #2
Offer fashion accessories as a free bonus with every purchase. If you have a shoe boutique located in the Bahamas catering towards workers in the tourist industry, and you want to encourage them to purchase your Steve Madden shoes, you can give them a free pair of Calvin Klein socks with every purchase. Watch your bottom line to make sure that you can still make money, while still giving your customers as many bonuses as you can afford to. Giving customers free bonuses will encourage them to shop by you since they will be receiving more value for their money as compared to retailers that do not give them any extras.
Strategy #3
Run sales at the end of the month to clear out your unsold wholesale clothing, shoes, handbags, and other merchandise. You should not be discounting your regular merchandise or otherwise customers will simply wait until the end of the month to purchase it. If you do have a large quantity of your regular items that you want to clear out, you need to explain to your customers that this is a special sales event for this specific item, and that your regular prices will be in effect after the sale is done. You can actually use this strategy as a revenue source by looking for special closeout merchandise which would appeal to your customers. For example if you come across a closeout of Calvin Klein skirts you can set up a rack just for them and blow them out at a price substantially below the suggested retail price.
