Retail Observer

RETAILOBSERVER.COM JUNE 2018 50 H ow many times have you sold a mattress set and watched your customer go across the street to the big box store and buy the top of bed? I hope the answer is none, but unfortunately, I know that this happens often. According to Keith Mackey, senior vice president of sales with Protect-a-bed, the national average for attachment of these items is at 30%. He also states that three out of four customers are purchasing new top of bed items with a new mattress purchase. So, it leads to me ask this question. if you're not selling your customers the top of bed, who is? This top of bed business can be a big part of your bedding business. Home Textiles Today reports that in 2016, the top of bed business was $ 5.055B. This was a 1.6% increase over 2015. Your customers still prefer to buy from an independent retailer, as 70% of all purchases were done in the store. How much of the share are you getting? Too often I think we feel like we must give these items away to close the sale. While at times it's ok to offer the "freebies" during a special promotion to drive traffic, I think we also use it at as a crutch. So how can we make sure that we are getting a piece of this multi-billion dollar business? I did some research and found nearly all the big box stores you compete against don't give away these items. They use the 20% rule. Research has shown that the consumer will shop your store if you are offering a sale and the sale needs to be 20% or more in savings. Have you ever offered a savings on your sheet sets, or pillows, versus just giving them away? How does your display look? Are you offering enough of a selection? How many of you are offering premium sheets and protectors? While it's ok to offer bargain items, don't be afraid to offer the items that people are or will buy. The average price paid by a consumer is $ 98 per item. What is your average ticket for these items? At the end of the day, we all want to run a successful business and be in business for years to come. A properly set up display with a good selection of merchandise is not a big investment but can have a huge return. No matter if you are currently selling accessories and top of bed items already or not, I would challenge you to look at your close rate. Is it average at 30%? Are you giving away too many items? What can you do to increase your close rate? Are you providing a spiff to your sales staff? It's amazing how a few extra dollars in the RSA's pocket will help their attachment rate and raise their average ticket. The cost to you is minimal. How does your display look? Is it outdated? Does it need a face lift? The Cotton Inc. 2017 Home Textile survey says that 43% of all buyers were inspired to buy because of the store display. If your display is outdated, it can and will affect your sales. There are options that are very cost effective and there are many companies that we work with that can get you set up with the right display and products to maximize your profit potential. Set yourself apart from the other guys, and go get that business that is currently leaving your store and going across the street. My final thought: If you don't ask for it, you won't get it. Be the leader, and let people follow you. CAPTURING THE SELL, ON TOP OF BED Chad Fischer Furniture Trends Chad Fischer, Bedding Director-Western Region Nationwide Marketing Group RO

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