A fascinating study of 1,600 American consumers in February 2018 found that 65 percent of consumers’ shopping behavior has been affected by the current administration in the White House. This is a whopping 25 percent increase from a similar study produced in February 2017.
We all know the impact ecommerce has had and will continue to have on brick and mortar retailing. The consensus of both ecommerce leaders such as Amazon and brick and mortar stalwarts such as Nordstrom and Best Buy is that retail is not an either-or proposition. Why else would Amazon purchase Wholefoods and open brick and mortar grocery stores and book stores?
A number of brands seek to place their products and services in front of recognized influencers with lots of followers. Beyoncé, Miley Cyrus, Rihanna and Kanye West come to mind. Influencer marketing is a huge business with more than 73 percent of luxury fashion and beauty brands actively participating, according to a report from Fashion and Beauty Monitor entitled, The New Face of Luxury.
At some point when engaging with a client or customer, you need to ask for the sale. And when you do, look through the lens of your customer. What can you say or do that makes your offer a no-brainer? Here are four ideas to help close more sales.
“In the U.S., they’re cutting corners and cheating, and driving everything to the lowest common denominator – in the brands themselves and in the channels of distribution: department stores, shopping centers. And it’s reaching the point of no return, which means that retail in the U.S. will have to reinvent itself,” claims Value Retail’s CEO Scott Malkin in a recent Glossy interview. Value Retail owns and operates 11 luxury outlet centers in Europe and China
In his book, The Land of Strangers, Robert Hall writes, "The truth is, relationships are the most valuable and value-creating resource of any society. They are our lifelines to survive, grow and thrive." As company leaders, bosses and mentors, what are you doing to help your team members and coworkers build their network of professional relationships? What encouragement are you providing? What opportunities are available and does your team know about them? What are you doing to help yourself?
BKBG Shareholders relate that finding and retaining best-in-class talent is one of their greatest challenges. With unemployment rates dipping below four percent nationally, that challenge is becoming increasingly more difficult.
“In the U.S., they’re cutting corners and cheating, and driving everything to the lowest common denominator – in the brands themselves and in the channels of distribution: department stores, shopping centers. And it’s reach the point of no return, which means that retail in the U.S. will have to reinvent itself,” claims Value Retail’s CEO Scott Malkin in a recent Glossy interview. Value Retail owns and operates 11 luxury outlet centers in Europe and China.
Consultants Dan Hay and John Marshal recently published a research study entitled the Happiness Halo that identifies three parts of the customer journey that enable showrooms to make emotional connections with their customers. They are anticipation, interaction and afterglow.
Using the word if as part of a sales presentation is an absolute no-no because it sends the message to a client or prospect that they don’t know something. For example, if your sales professional proposed the following, “If your new housing project is going to sell quickly, the perfect solution for your bath is to depend on our ability to source products and deliver them on time and within budget.”