Palmer Retail Solutions Blog

Tips to Turn Accessories Into Extra Profits

Posted by Kathy Heil on Apr 9, 2015 9:06:29 AM

How to Merchandise Accessories for Wireless and Small Electronics Turn wireless accessories into extra profits

Accessories can be a gold mine for stores that sell wireless and small electronics products. But too often retailers overlook the bottom-line value of these add-ons. Don’t be that retailer. Merchandise your accessories properly to take advantage of the opportunity for extra profits.

Start with the basics.

Selling more accessories for wireless and small electronics devices starts by following the principles of effective visual merchandising:

  • Strategically place accessory displays around your store, near the devices they augment.
  • Use accessories in your window displays, on mannequins inside the store, etc.
  • Use lifestyle posters showing people using the accessories.

Stock accessories from several vendors.

You can offer a wider variety of merchandise, and knowing what various suppliers charge may make you a better negotiator when it comes to wholesale pricing or obtaining special merchandising displays or other goodies.

Bundle accessories, and watch sales rise.

Bundling is common in retail, from grouping telecommunications services to creating gift baskets around the holidays. Bundling works because you’re giving the customer a good deal – three for the price of one, or simply a discounted total compared to separate purchase of each item. They can save money and go home with some fun or functional items to personalize their phone. Who wouldn’t want to do that?

Feature bundles in prominent displays and use signage to promote their value.

Get everyone into the act.

Your employees are key to successfully selling accessories for wireless and small electronics products. Did you know devices are often returned because a customer failed to get accessories they later learned they needed? You don’t want returns, nor do you want that customer to go to another store once they discover they need something more.

Specifically train employees to effectively sell everything you carry, and encourage them to become students of accessory sales.

Go beyond suggestive selling to demonstrative selling.

The word “accessory” sounds optional, making it easy for customers to dismiss these extras. So don’t just mention to customers that accessories are available, ask if you can show them something that will help them make the most of their new phone. Then do it. Take the accessory out of its package and show them how it works with their phone. In effect, you’re making it “theirs,” so it’s easier for them to see themselves buying and using it.

When demonstrating accessories that come in a choice of colors or styles, emphasize how the customer can make a fashion statement as well as improve their user experience.

Consider implementing this three-step employee incentive program:

  1. Establish a daily minimum number of accessory sales, per salesperson.
  2. Offer an incentive such as a dollar amount or percentage of each sale over the minimum.
  3. Reward the salesperson who racks up the most accessory sales each month with a gift card or dinner.

Create friendly competition by tracking everyone’s progress on a chart on the wall in your back room. And hold periodic meetings to share experiences about what’s working.

With the right merchandising and employees focused on selling accessories, your wireless and small electronics store can really take off.

Download Retail End Cap eBook

Palmer Retail Solutions strives to offer our clients the absolute best combination of innovation, quality, service, and value for our diversified custom store fixtures and merchandising displays. For more information about our designs, retail fixtures, cash wraps, kiosks, or point of purchase displays, visit our website at: http://www.palmerretailsolutions.com.

Leave a Comment