Unlike marinas, inland boat and motor retailers don't have big yachts pulling into their parking lots. However, that doesn't mean they can't go to school on marina merchandising savvy to spike marine accessory sales. The first rule, as always, is to sell your customers what they want. Following the money, ship's store merchandisers have been moving away from the chandlery model to the boutique model. Customers can still buy screws and fasteners, line and fenders, oil and lubes, but the emphasis is now on clothing for the whole family. The model works for marinas, and I'm convinced it will work for boat/motor dealers, too.
This benefits sales in at least three ways:
Soft goods enhance the appearance of the store, making it more inviting to shoppers of both genders. Indeed, an attractive accessory area complements of the showroom, the service area, and other profit centers, too. If one family member wants to talk to a sales person about a boat or a motor, the rest of the family can spend comfortable time in the accessory store. Margins and turns improve with a broader mix of merchandise. I can vouch for the fact that good things happen financially to accessory sales if you pay close attention to the details, the unofficial mantra for Harriet Landry, Brandy Marine's marina merchandiser, and her people who manage the ship's stores at our marinas.
Here are some of the details:
Create a nautical look. Bring in framed art and photos, knick-knacks and other collectibles with a waterfront look and put them on display-detailed ship models, stuffed fish, porcelain and wooden lighthouses, and jewelry. You should put a price tag on them. They're for looks?and for sale.
Grow plants, not mold. Your store doesn't have to be a fern bar (but it could be!) but soften up the corners and harsh areas with a little greenery. This will freshen the air, as well. Oh, yes plants | are for sale, too. Don't forget to dust them regularly.
Use tables, mannequins and doors. Fold the clothes and put them on tables. Hang them on the back knob of open doors. Dress some female mannequins. Hang a purse from the mannequin's shoulders, put a bonnet on her head, and some high-priced shades on her eyes. Keep the price tags on everything and don't be afraid to sell things right off the mannequins. "Make your store look like Lord & Taylor, not a discount joint,"says Harriet.
Re-dress the mannequins fortnightly. Move things around and redress the mannequins every two weeks and shoppers will think the whole store has been restocked with new things. Shoppers will get used to this and come back again and again.
Favor repeat customers. Do special favors for these people. Stock garments in their size. Order specially for them. Call them when the new garment arrives. The old saw is true: It's easier to keep a good customer than to find a new one. Plus, they send their friends.
Know the merchandise. Your sales clerks need to offer help and volunteer information to customers. If somebody likes a shirt, suggest some pants, then a belt. Some don't like to be bothered, so leave them alone until they ask for help. Stock more smalls than mediums for women. For men, stock mostly large and extra large.
Keep the hard goods. When you find that the soft goods are leaving the store and the hard goods are staying put, you're going to be tempted to chuck the hard goods. Don't. You need those accessories-fishing tackle, batteries, oil, PFD's, anchors and such-for your credibility as a marine store and as a convenience, at the very least, for your boating customers.
Stock a snack bar. When somebody is really hungry, they are motivated to buy, like right now. You'll be surprised how often the register rings on these items. O, did I forget to say | cigars? You'll be a hero to some. They know the smoking lamp is lit out there on the water.
Discount some items, but not all. If you've got a really good price on a few items, customers will make the connection that your inventory is always on sale. In fact, it is.
Price merchandise low and high. There's nothing wrong with stocking the highpriced stuff, but be sure to have some $1 and $2 items on hand as well, such as souvenirs, insulated cups, and beer can sleeves. These should have the name of your store screened on them. People collect those things.
When it rains, sell rain gear. Haul 'em out. Mark 'em up. Move 'em out.
Build rapport with the clothing reps. Treat them with respect and they'll go the extra mile for you, giving you the first-shot at closeouts and bringing in more clothing items rather than pointing them out to you in a catalog. You can't tell what you're buying from a catalog. Harriet says if you keep a running dialogue with your clothing reps, you'll know about close-outs earlier and, thus armed, you'll get longer billing cycles and more items to choose from.
Follow your cash budget. You have to watch cash flow, so create a cash budget based on the previous year and update it monthly with actual inflows and outflows as the year unfolds. You can break outside the budget from time to time when there's a compelling reason to do so, but only when it's a pretty sure bet. You may be selling a lot of boats and motors, but don't underestimate what your marine accessory store can add to your bottom line. When we counsel marina and waterfront development owners, we tell them that every piece of the business is important, not just for how much it can add to revenue, but how much it can enhance the value of the other profit centers and the entire property. |
