Strategies to Increase Sales Rates
The changes caused by the Covid-19 outbreak have created a pause in normal life, which has affected the sales of many brands in different industries. For this reason, brands have started to think more about strategies to increase sales rates and take strategic steps.
While working on strategies to increase sales rates you should have analyzed your target audience well in the first stage. Finding new people to buy your products and services within the scope of this analysis is also an important part of the sales process. After completing this part, you should encourage your audience to buy your product. For this, you need to determine which sales strategy will be effective for your target audience.
Strategies to Increase Sales Rates in 6 Steps
Strategies to increase sales rates are basically based on making consumers constantly want to buy new products. Major retail brands in the world, whose annual revenue reaches billions, adopt different strategies to attract customers and direct them to sales. Here are 6 trend strategies that stand out among them:
1. Strategies to Increase Sales Rates First Trend: See-Want-Buy
The first of the different strategies are based on attracting customers to the store. This strategy is the "see-want-buy" strategy. The brands display their most expensive clothes at the entrance of their stores. And hope that consumers will fall in love with and purchase these products as soon as they enter the store. This prevents customers from turning to cheaper clothes.
2. Uncategorized Products
Another strategy is to avoid product categorization in stores. In other words, accessories, clothes, shoes are together, intertwined. In this way, brands can offer ready-made combinations and complementary parts to consumers. Indecisive consumers are shown which products they can combine with and are directed to more shopping. At the same time, this time-saver strategy for the consumer aims to quickly affect them, shorten their shopping time, and move to the payment step quickly.
4. Store Locations
The location and positioning of the stores are also very important in marketing activities. The question of what kind of business would you open in this location, which is widely shared on social media, is actually based on the basis of this strategy. In order to position them in the eyes of their consumers, brands prefer to open their stores not next to supermarkets or brands selling cheap products. But next to luxury shopping stores, in big shopping malls and big streets. Thus, the exclusive store strengthens the perception of exclusive products among its customers. Because the idea that you are who you surround yourself with is valid for brands as well as people.
5. Fast Fashion Trend
Brands that adopt the fast fashion trend reflect different trends to their products in a short time by releasing more than one new collection. In this way, they provide a great advantage compared to brands with a single collection. Both in terms of variety and in terms of integrating many trends into their products. Sales and shop visits are also higher in line with this advantage. 6- Strategies to Increase Sales Rates Last Trend: Availability of ProductsThe fast fashion trend we mentioned in the previous step lays the groundwork for one of the other strategies to increase sales rate trends. How does it? Since there are more collections and products in brands, the shelf life of the products is also short. This situation increases the value of the products by making them less available and ensuring low accessibility. In line with this strategy, there are brands that constantly change the products on the shelves and create the perception of scarcity. Steps such as saving products by selling products that are not sold in a country or city in other locations. And highlighting old products at their current prices before the discount season is among the parts of this strategy.
Published Date: 4 November 2020