Top Off Skilled Product Selection

Most RIMtailing postings are about how to best sell the merchandise and services you have. But you and I and all the others with an interest in your profitability as a retailer need to keep in mind that, regardless of your sales skills, your success really depends on you choosing the right items to sell. Shopper psychology tactics top off skilled product selection.
     How fitting, then, that it is a top which illustrates characteristics of a hot-selling item. Beyblades from Hasbro are a toy with the right spin:

• Proven record. Each player launches his Beyblades top into battle, and the last one standing wins. The toy had a successful run about ten years ago, but just as important is that battling tops have been around for what? The history of humankind? Ask yourself if an item you’re considering for inventory has a parallel in a product or service that has done well for you or for a similar retail business in the past.
• High-tech & customizable. This year’s Beyblades are different from last decade’s model because of the tie-ins to our target markets’ fascination with technology, the internet, and personalization. There are instructional videos on YouTube, a video game version of Beyblades, and a Hasbro website for virtual battles. All three highlight how proper selection of components for the top by the player and proper launch technique are essential to winning.
• Collectible. In order to have a full repertoire of parts, the Beyblades owner must have a broader collection of models. With certain product lines, the small to midsize retail business can’t stock every item in the collection all at once. One alternative is to accept special orders. Accepting special orders does bring up complications—such as how to handle merchandise returns—which you might choose to avoid. Offering accessories as add-on purchases is another approach.
• A back story. Products and services sell much better when each item comes with a tale to give it distinction. Retailers of antiques find that easy to do. Beyblades include tops with different names and personalities. In addition, there is a storyline, reinforced by a TV cartoon series, which talks of the tops drawing their power from the spirit of the constellations.
• Nostalgia. This selected list of characteristics of top merchandise comes back around, like a toy top, when we consider how an item with a proven record also carries a nostalgia appeal.

Click below for more:
Personalize the Shopping Experience
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