Retail is King - Especially in the Holiday Season
Did you get a chance to check out the SpaSOS Business Master Class episode last week? I had the pleasure of interviewing our very own Holly, FingerNailFixer, on the topic of retail and how that impacts profits. View it here:https://youtu.be/JtZhCXPKhL8
I want to continue the retail conversation, especially with there being only 13 weeks until Christmas. Clients are still going to be shopping, just online. The key is to have something available for them to buy. The trend this year, as seen on Pinterest, the holy grail of trends, is multi-colored manicures. That is a good thing, actually a great thing, it means more polishes and products for you to recommend to clients.
Why you might be asking is retail so important?
Gen Z and Millennials' nail retail purchases were 40% & 43% accordingly. In addition, word of mouth accounted for 54% of retail sales and 80% product purchased when recommended by the service provider. ISPA states retail sales accounted for an estimated 11% of total spa revenues. Along the same line, customers who purchase products are more likely to revisit a location. Add, returning customers spend more money and promote the brand via word of mouth
With that being said the right retail partnerships are key. It has to be something you and your clients love and value. Once those partnerships are established the next piece comes down to you and educating your clients on the benefits as well as how it will address and or alleviate their issues. Which you can do easily, we are blessed to have intake forms. If you don't have one, Google and download one today. That form is a goldmine of information like lifestyle, habits, and other factors contributing to the clients' overall health, particularly nail care. Clients give you their concerns, it's your responsibility to give them a recommendation. Thinking home care and goal-oriented more than just making the sale. You have the pain point, give the solution, and watch your retail sales go up along with your profits.
I hope this helps you prepare for the upcoming holiday and retail season. The next post will focus on providing 5-Star Customer Service to your clients, which goes hand in hand with retail.