A great way to increase customer purchases is cross-product promotions. A simple way of doing that is by offering a discount for buying 3 items of the same brand. This will encourage customers to buy more. It is a common trick that can be found in many retail stores. However, there are ways to be more creative. Another interesting way of running promotions is by steering the customer towards higher priced items. Let’s say a customer buys a medium priced red wine. In this case, it can be useful to offer a promotion for a higher priced white wine. Often customers will by both red and white for parties or events. Chances are that they will buy both options in a similar price range. This encourages the customer to start shopping in a higher category. Promotions of this type should be easy to configure with your liquor POS system.
Increase Customer Return Rate
Loyalty programs are a common practice to encourage customers to only shop in your liquor stores. However, many customers find the benefits insignificant and not worth the hassle. You can get those customers coming back with receipt coupons. Coupons have a unique advantage over point-loyalty programs. They give the merchant the option to control when you would like the customer to return. For example, when a customer buys a certain item you can issue a coupon for the exact same item that is valid for only 5 days. This means a customer who would like to take advantage of the offer will have to return sooner than normal.
Another great way of increasing your customer return rate is by improving the in-store experience.
Bundling products is another great way to increase customer spending. Many people will be driven to purchasing a compiled cocktail set instead of looking for all the individual products. This gives you a nice opportunity to include brands that result in a higher profit margin. In addition, product bundles also make very nice gifts.
Shopping in brick and mortar stores has a lot to do with the shopping experience. Competing with online shops and delivery services is difficult, but something that is hard to replace is the shopping experience when walking through a store. A great way of taking the shopping experience to another level is by hosting events or showcasing certain products. Obviously, this requires more planning and advertising which will come with higher upfront costs. However, you might want to contact some of your vendors. Liquor vendors and distributors are always interested in advertising opportunities. Suppliers are interested in promoting their brands and you are interested in promoting your store. This will lower your investment, improve your relationship with your brands, and, most importantly, get more people into your store!
As you can see, there are a lot of ways that you can increase sales with minimal effort. Once you start experimenting with these methods, you’ll probably come up with some great ideas of your own!