How to use retail to boost your bottom line
Your barbering services may be your primary revenue driver, but don’t underestimate the lucrative potential of retail to your business. Whether your barbershop already has a dedicated retail area, or you’re thinking about introducing one for the first time, here are some top tips for making retail profitable:
1. Less is always more
While it can be tempting to put all of your products on display at once, remember not to overload the retail area. Instead make it easier for your clients (and staff!) to find what they’re looking for by categorising shelves, showcasing new — and seasonal — lines and grouping products by collection.
Also, make sure your retail area is tidy, fully-stocked and dust-free at all times. First impressions really do count and small details like these can be the difference between 10 retail sales in a day, or none at all! And, of course, if a product isn’t selling after a period of time, take the hint and remove it. You have a fixed amount of shelf space available, so why fill it with products that don’t sell?
2. You need to give clients a reason to buy
As professionals, clients will look to you to make recommendations about which products they should use at home between specific treatments to prolong and enhance results. When you have a client in your chair, educate them by talking them through what you’re doing — be it a cut, beard treatment or an add-on facial — mentioning specific products as you go. Then, at the end of their treatment, be sure to make some recommendations about what products will keep their hair and skin looking and feeling great.
After all, while treatments are your top earner, stocking complementary retail products in-house will prevent your clients from going elsewhere to purchase items you’ve recommended!
3. Don’t forget the till-points
Last, but not least, never underestimate the power of strategically-positioned retail products at your till area.
Remember that price is a key motivator when customers are considering add-on purchases at checkout. To encourage impulse sales, consider keeping all products to £10 or less and make sure they’re easy to grab (think travel-sized products — like Maria NIla’s Minerals Shale Strong Wax, 50ml, £6.99 ex VAT or Osmo’s Fibre Paste, 100ml, £4.99 ex VAT— as well as handy tools like razors and scissors). Similarly, use these focal areas to showcase current 2 for 1 offers, to incentivise customers to stock up for Christmas or holiday season.