Olympic Eyewear, a wholesale sunglasses specialist, offers helpful advice and tips to retailers selling sunglasses. They understand that profits are the bottom line and to help boost these revenues, they recommend:
- Rotation – Rotating stock regularly is important. Retailers should focus on new product launches or sunglasses that require a dominant display, keeping gender and age groups separated and neatly organized. Organization should include subtypes by style, as this is proven to help generate more revenues. Mixing and matching too many categories makes a display look messy and unorganized, which is proven to be a big turnoff for customers. People will walk around displays to find a certain style, so it’s important they be grouped accordingly for easy display options. Stock should be rotated regularly, as often as every three weeks to a month. Countertop displays are an excellent option as they allow customers to easily spin units and look at all types of models, ultimately taking up less floor space for retailers.
- Websites – Sunglasses are popular selling accessories online. Companies need to have a professional website that allows customers to easily view sunglasses’ descriptions and pictures. Consider having websites that easily allow stock items to rotate, as this will save money down the road on expensive programming fees.
- Attention Grabbers – Attention grabbing signs are a great way to generate interest, especially for sunglasses kiosks, as these can easily pass customers by in crowded areas. Successful marketing strategies include highlighting low price items in bold, large fonts. Sales should be in larger fonts and if something is buy one and get another pair at a discount price, the lower of the two prices should always be highlighted to grab a passerby’s attention. Sales and marketing experts agree that the human brain processes the lower number first, which is why it’s an important sales-grabbing technique.
- Numbers – Companies should keep detailed books about rotation related to revenues. While many companies start out with trial and error experiments, it’s important for companies to keep track of selling trends. Some products may move better when on sale, compared to others, while some products may be seasonal best sellers. Additionally, some products placed at eye-level are more popular sellers when compared to other display locations.
- Plans – Having a business plan in place is vital to a successful business operation. This includes regular planning and tracking, as well as inventory of day-to-day sales operations and figures.
- Prices – Instead of entering into pricing wars, small businesses should conduct a competitive analysis and have price elasticity. Olympic Eyewear can offer recommendations for competitive average selling prices, but as with any product, it’s important for businesses to highlight branding, quality and value when selling designer wholesale sunglasses.