By Moe Lastfogel
Director of Sales and Marketing for The Retail Observer
As we move further into 2021, I have been reflecting on some of my past thoughts regarding product sales. Even with the Covid onset in 2020, many of you had some of your best sales numbers in years — based on supply, of course. What products could you have added or can still add to help your bottom line and grow your profit dollars? Here are some of my thoughts:
To the appliance dealers with vignettes in place that show plumbing and lighting products: many of you have changed from a basic lineup store and have added beautiful lifestyle kitchen displays to your showrooms. Manufacturers have designed these new display kitchens to show how the product would look in a true kitchen setting. They have sinks, lighting, hardware and various props to give a true home feel. Why not partner with a bath distributing company and/or lighting distributor to sell these add-on products? Many of them are very willing to set up your kitchens with these additional products for you to sell.
Cabinetry hardware is also a great source of extra income. Hardware displays take up little room and are highly profitable. Place the display by your refrigerator section to give your clients a good visual offering based on the handles they need. Lighting is another easy sell, as it can be placed anywhere in the showroom. If you have 5,000 sq.ft. of floor space you probably have 5,000 sq.ft. of ceiling space and plenty of wall space, too.
Sinks and faucets are a definite must sell. Do not sell what the big box stores have. Upgrade your client to the high-end products that the big box stores do not carry. Let’s face it, if you can sell a $12,000 range you can sell a $1,500 sink. Let’s not forget water products. Filters, instant-hots/colds, disposers and air switches all make great add-ons to your bottom line.
There are many other opportunities out there in multiple categories that can add to your bottom line. As the year goes on, we will be bringing you information on products and partners to help you add new products and new categories to your showrooms.
BASKETBALL IS A LOT LIKE LIFE
By Eliana Barriga
Publisher and Managing Editor for The Retail Observer
March Madness has something to offer everyone — basketball fans and business owners alike. The drive and ability to capture the glory of the game can easily translate into the drive and passion needed for success in the game of business.
Your team has skills in many different arenas of your business. It is important to listen to the expert voices in your inner circle, to consider their opinions and trust their expertise. Especially in an environment as rapidly changing as ours is today, we need to be quick on our feet, mentally alert and ready to change the game plan and call a new shot in a moment’s notice.
March Madness always brings the late Coach John Wooden to mind. In an excerpt from his book Wooden’s Wisdom, Craig Impelman (Wooden’s grandson-in-law) wrote:
“In Coach Wooden’s early life, his father set an example that had a very, significant impact on him. He created a set of rules that he bestowed upon his sons: Don’t whine, don’t complain, and don’t make excuses. Just do the best you can. Nobody can do more than that.”
His father’s example deeply impressed itself upon John Wooden’s mind. Impelman explained how the finest teaching tool we have is the example we set for others. How we handle adversity can be one of the strongest ways of demonstrating our true character.
Coach Wooden said, "Complaining, whining and making excuses just keep you out of the present moment. By handling yourself in such a way through difficult situations, you will not only find your own outlook improving, but you will likely inspire those around you, too."
So, he devised and collected a multitude of maxims regarding the best way to respond to difficult situations. You can use them with yourself, your staff, and your team to rekindle a positive attitude when the going gets tough.
• Bad times can make you bitter or better.
• Never make excuses. Your friends won’t need them and your foes won’t believe them.
• Things usually turn out the best for people who make the best out of the way things turn out.
Who we are personally shows up in our business relationships. Responding better to difficult situations, rekindling a positive attitude and staying present in the moment helps you to not only live your life on a positive note–but to live your life to the fullest right here and now. And remember...
Just do the best you can!