Just because you open a mall kiosk doesn’t mean you’ll automatically have great sales. It takes strategy and planning to create any successful retail business. And you have to remember that there’s a difference between kiosk sales and kiosk profitability. Sales are good. But it’s the profit that pays you as the kiosk owner and provides money to grow your business.
Profitability starts with choosing the right products to sell at your kiosk.
Of course, you need the right location for your kiosk – a mall where shopper demographics match your target customers. That will depend on the products you want to sell. If you already have a location in mind, that will affect your production selection.
Some products more naturally lend themselves to profitable kiosk sales. Proven winners include:
- Electronics such as phones and wireless devices and accessories
- Food, especially pre-packed items
- Clothing and accessories such as sunglasses, scarves, and belts
- Watches and jewelry
- Health and beauty products
- Personalization, such as T-shirts that can be customized on the spot or temporary tattoos
All these products have one thing in common: they inspire impulse buying. Remember, your kiosk is not a destination for mall visitors. It’s an unplanned opportunity to pick up something new or fun.
So how do you choose?
One key to profitable kiosk sales is focus. Brick-and-mortar retail stores offer lots of different products. Successful mall kiosks offer only one or a few closely related products. You have limited space, and shoppers have only a few seconds to grasp what you offer. Too many options confuse people. Where kiosks shine is depth of selection – your product in many colors or sizes or styles or materials.
Choose a product that has wide appeal. Otherwise, you’re limiting your pool of potential customers. You won’t make a profit, and your kiosk may not even survive.
Pricing is the other key element in product selection. Studies and experience show items that cost between $15 and $30 sell best. If you have items that run higher – say as much as $100 – be sure you have lower-priced options, too. Now, here’s the thing: whatever the retail price of your products, kiosk sales have to cover all your costs plus a profit. Don’t pick a product that cannot perform for you.
Profitable kiosk sales depend on more than product selection.
Mall shoppers will notice your kiosk before they can see exactly what you have to offer. That means the overall design can make or break your business. Your kiosk has to stand out amid the mall’s visual chaos to even catch the eye of potential customers.
Once you have the perfect kiosk design and the perfect products on display, you need something more to drive profitable kiosk sales. That one more thing is people. You have to be friendly and approachable, not aggressive. You have to explain your product quickly. With the right people, products, and design, you’ll have the strategies in place to improve your profitability.