The holiday season is coming in full swing and so are preparations for this year’s festivities. However, we don’t always have the time or energy to put in the amount of effort that goes into planning a holiday getaway.
Upselling is a great and often necessary action to increase revenue in retail, but it can be challenging to implement in the face of withering customer protests. So check out this list for five relevant and practical upselling strategies to implement during the holiday season!
What Is Upsell?
Upselling is a sales technique whereby a business offers products or services to customers for an additional, higher price than the standard rate. The goal of upselling is to bring in more sales and reduce inventory for retailers. It can also increase your profit margins.
5 Upselling Strategies For Your Store
Set Up Your Store
Setting up your store is the first step to ensuring that your customers pay for more of your products. Merchandise needs to be presented in a way that causes curiosity to make it enticing or attractive. This should include using clear signage, strong colors and fonts to draw interest and highlight the best deals you have.
For example, putting your best sellers on full display where consumers can view them from afar so they can grab customers’ attention. You can use an endcap display or pop-up canopies.
Ideally, a store should have a variety of lighting that changes throughout the day. For instance, in daylight, you can install low lighting, such as blue and green. However, at night, brighter lighting that is more yellow and red would be helpful.
Use Your Staff Effectively
Staff are some of the most effective salespeople in any store. To utilize your staff members effectively, be sure that they are appropriately trained to have the best skills and abilities needed for this process. In addition, your employees should be masterful in knowing what to say to make customers interested in a superior version.
If a customer asks the price of a product, the employee should have a certain response designed to encourage them to get an upgraded version of that item. For example, you may ask, “So, would you like a stainless steel version of this item?”
Pay Attention To Customer Experience
Upselling is usually a big part of customer service. As a retailer, it’s your job to ensure that customers have a good experience visiting your store and get more than they paid.
You may want to invest in the tools to run a successful upselling strategy, and point-of-sale software is one of them. It can help your team monitor what customers are purchasing and offer them an alternative payment method, such as their debit card.
You can also take advantage of POS to create promotions, coupons programs for customers. With ConnectPOS, you can enhance customers’ experience at both physical and online stores to bring your upselling strategies to a high level.
Upsell With A Gift Package
We live in a society that likes to give and receive gifts. Therefore, this is ideal to encourage customers to spend more money on your products and services. You can take advantage of this by offering to add the gift package at an additional cost. With added value, it is more likely that customers will buy an item as the gift box is included in their purchase.
Sell Mixed-Products Package
Special events such as Black Friday, Cyber Monday, and even online shopping days can all provide an opportunity to upsell customers and increase your profits. The key to this strategy is to sell limited mixed-product packages at a higher price. For instance, you can combine a high-definition television with a customized Blu-ray disc.
It is essential to note that upselling strategy is a great technique to bring in more sales from customers. If you had a strategy in place, you would have noticed this already. Now is the time to capitalize on it. Let’s turn your efforts into an opportunity to increase your profits in the holiday season with ConnectPOS.