Sell Exclusive Offerings by Combining

When the retailer is the only one carrying a particular item, price shopping is more difficult for the consumer. If this is to work, the retailer must be able to demonstrate that each exclusive item is functionally as good as the more widely available items.
     A secondary motivation for retailers to carry exclusive items is to advertise the store and allow purchasers to demonstrate their loyalty to the store. For this one to work, the exclusive product must be clearly superior to the more widely available alternatives. The objective is for all the purchaser’s friends to say, “Where did you get that wonderful item? I haven’t seen anything exactly like that anywhere!”
     Large retailers are better able to negotiate with suppliers for exclusives than are smaller retailers. A technique the smaller retailer can use to gain the advantage is to offer distinctive combinations:

• Combine individual items into customized packages. When I shop at a florist for a bouquet, I expect to pay more than if I bought the same flowers at a plant nursery and paraphernalia at a crafts shop and then put the bouquet together myself. I’m paying for the expertise of the shopkeeper in knowing what fits well and how best to arrange it.
• Combine your merchandise and services with a distinctive customer focus. When I go into a store and I’m called by name, my shopping has a feel of exclusivity. Get my name right, though. If you’re not sure, ask me. Actually, you might even leave out the name. There’s research evidence that what is more important to the shopper is that the staff remembers the shopper’s distinctive preferences.
• Combine with an in-stock guarantee. After all, I’ve come to you because of the exclusives I discovered you carry.

For your profitability: Sell Well: What Really Moves Your Shoppers

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