retail Archives | Spa Executive https://spaexecutive.com/tag/retail/ The magazine for leaders in the business of wellness Thu, 06 Feb 2025 14:53:29 +0000 en-US hourly 1 https://spaexecutive.com/wp-content/uploads/2017/01/LogoSquare.jpg retail Archives | Spa Executive https://spaexecutive.com/tag/retail/ 32 32 5 tips for increasing your spa’s retail sales revenue from Trilogy’s Carrie Ummel https://spaexecutive.com/2025/02/04/5-tips-for-increasing-your-spas-retail-sales-revenue-from-trilogys-carrie-ummel/ https://spaexecutive.com/2025/02/04/5-tips-for-increasing-your-spas-retail-sales-revenue-from-trilogys-carrie-ummel/#respond Tue, 04 Feb 2025 16:52:29 +0000 https://spaexecutive.com/?p=6947 Spa retail sales often fall short. Improve them with these tips from retail expert Carrie Ummel of Trilogy Spa Holdings. Retail sales in spas often ...

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spa retail sales

Spa retail sales often fall short. Improve them with these tips from retail expert Carrie Ummel of Trilogy Spa Holdings.

Retail sales in spas often fall short of their potential. Spas should be moving their products like crazy — staff are skincare and self-care experts, after all, and products are almost always exquisite and top of line. But this often isn’t the case.

Carrie Ummel

Carrie Ummel is Director of Retail Experience for Trilogy Spa Holdings, where she works with resort leadership at four and five diamond luxury properties to develop retail strategies that drive sales growth and enhance the overall guest experience. Ms. Ummel notes that retail isn’t always top of mind in spas, but she understands why.

“With the priority of spas focused on consistently delivering exceptional service throughout their signature treatments; offering the perfect escape from the stresses of daily life for their guests, retail quickly becomes an afterthought,” Ummel says.

“Embracing the facts that there are so many moving parts, important demands, and dare I say surprises in the spa business – there’s just not a lot of time left to curate a thoughtful retail experience. And retail done right, takes time and resources. Time to source the right products, set up the account, create the order, place the order, receive the order, and don’t forget about merchandising once it arrives, and so much more.”

This lack of focus on your retail experience, says Ummel, “can quickly take your guest from that beautiful Zen feeling to frustration if the desired product they fell in love with during their treatment is out of stock, or your team member is not able to answer their questions, and/or if the boutique is in disarray making it too confusing to shop.”

If this sounds like a too familiar experience, take heart, there are easy ways to improve the situation. Ummel says, “A spa boutique offering unique products aligned with the guest’s experiences during their time with you, can inspire, delight, and bring them back for more!”

Ummel recommends the following 5 proven sales drivers

5 proven tips for increasing your spa’s retail sales revenue from Trilogy’s Carrie Ummel

1. Start with a review of your spa boutique with the “6 Ps” in mind.

    • Product: do you have the right product offering that aligns with your spa menu? This is not limited to your skincare collection. If you offer fitness classes, consider including apparel guests can wear to attend your classes.
    • Performance: do your products actually work? Do they answer your guests’ real needs? And do you personally believe in them? It’s very difficult for most people to sell a product they don’t believe in.
    • Price: are your products priced within your guests’ sweet spot (not yours)
    • Packaging: is the packaging eye catching and easy to read? Do you offer any exclusive private label options?
    • Placement: is the product easy for your team to find? Is there a consistent process as to how the products are placed on the shelf? For example, in order of application from left to right on the shelf.
    • Product Knowledge: does your team have the product knowledge and confidence to answer your guests’ questions and offer suggestions? Knowledge is power! The better they know the products, the better equipped they are to sell them.

2. Appoint a retail champion. Select someone on your team who has a passion for the products you offer to take on this role. Knowledge + Enthusiasm = Success. You can also empower your retail champion to ensure your Top 10 products are always in stock, so you never hear the; “oh I’m so sorry we are out of that product…” That’s like the sound of nails on a chalkboard to me!

3. Offer a signature retail item. Is there a signature scent upon your guest’s arrival experience? Be sure to offer this product in your retail collection so that guests can mirror this in their homes and/or share with others as the perfect gift. I love this option because it appeals to all guests walking through your door and is “one size fits all”. A perfect fit every time!

4. Create a “hot spot.” Put this in a location near the entrance of your spa. This “hot spot” should tell a story that relates to the season or an upcoming holiday, or feature your signature private logo products; making great gifts and mementos for your guests to remember their experience with you.

5. Don’t just deliver a product. Deliver a memorable experience.

With a thoughtful approach to retail, spas can enhance the guest experience while driving sales and, most important, increase revenue. By curating products that align with treatments, ensuring team members are knowledgeable, and creating an inviting shopping environment, spas can turn retail from an afterthought into a seamless extension of their service. As Ummel emphasizes, a well-executed retail strategy can inspire guests, elevate their experience, and keep them coming back.

 

Spa Executive is published by Book4Time, the leader in guest management, revenue and mobile solutions for the most exclusive spas, hotels, and resorts around the globe. Learn more at book4time.com.

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Can raising prices instead of discounting increase sales? https://spaexecutive.com/2023/07/26/can-raising-prices-instead-of-discounting-increase-sales/ https://spaexecutive.com/2023/07/26/can-raising-prices-instead-of-discounting-increase-sales/#respond Wed, 26 Jul 2023 14:11:10 +0000 https://spaexecutive.com/?p=6306 According to a Robert Cialdini’s book, Influence: the psychology of persuasion, raising prices might be a better sales tactic than slashing them.  In the world of ...

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According to a Robert Cialdini’s book, Influence: the psychology of persuasion, raising prices might be a better sales tactic than slashing them. 

In the world of retail and sales, reducing prices is usually the go-to solution for driving customer engagement and moving slow-selling merchandise. However, an intriguing alternative approach challenges this conventional belief: instead of resorting to discounts, consider the possibility of raising prices. Surprisingly, increasing prices can not only bolster revenue but may generate a surge in product sales. 

This is according to a principle discussed in Robert Cialdini’s bestselling book, Influence: the psychology of persuasion. 

Price as a trigger for quality

In the book, Cialdini shares an anecdote about a friend with an Indian jewelry store in Arizona. Cialdini wrote that the story involved an allotment of turquoise jewelry that the woman had been having trouble selling, despite it being peak tourist season and the pieces being “good quality for the prices she was asking.” After trying and failing with some standard tactics like moving the items to a more central display area and asking her sales staff to push them hard, the woman wrote a note to her head salesperson the night before leaving for a buying trip. She hastily scribbled: “Everything in this display case, price × ½,” hoping to offload the pieces, even if at a loss. 

Cialdini explains:

“When she returned a few days later, she was not surprised to find that every article had been sold. She was shocked, though, to discover that, because the employee had read the ‘½’ in her scrawled message as a ‘2,’ the entire allotment had sold out at twice the original price!”

The explanation he gives is fairly simple:

“The customers, mostly well-to-do vacationers with little knowledge of turquoise, were using a standard principle – a stereotype – to guide their buying: ‘expensive = good.’ Thus the vacationers, who wanted ‘good’ jewelry, saw the turquoise pieces as decidedly more valuable and desirable when nothing about them was enhanced but the price. Price alone had become a trigger feature for quality; and a dramatic increase in price alone had led to a dramatic increase in sales.”

Cialdini adds:

“These were people who had been brought up on the rule ‘You get what you pay for’ and who had seen that rule borne out over and over in their lives. Before long, they had translated the rule to mean ‘expensive = good.’ The ‘expensive = good’ stereotype had worked quite well for them in the past, since normally the price of an item increases along with its worth; a higher price typically reflects higher quality. So when they found themselves in the position of wanting good turquoise jewelry without much knowledge of turquoise, they understandably relied on the old standby feature of cost to determine the jewelry’s merits.”

Similarly, as many people are not experts on skincare and product ingredients, they will often accept an expert’s knowledge. This doesn’t mean one should overprice products or gouge customers. It means that rather than discounting a product and thereby decreasing its perceived value, one might be able to move in the opposite direction and increase perceived value.

If you are raising prices on one or a few products, this isn’t something you have to announce, unlike an overall price hike. After all, if people haven’t been paying attention to the products they’re not going to know what they cost or notice a change. 

More things to consider when trying to move unsold merchandise

We can’t guarantee that increasing prices will sell the products, as it depends on many other factors, including what the products are, your customer base, the time of year, and more. But we wanted to bring the idea to your attention. Only you know your customers well enough to decide if such a tactic will work. 

More things to consider when it comes to moving merchandise that isn’t selling include making sure you have really highlighted the benefits of the product and its key ingredients. If there is a particular pain point the product is designed to address –  dry skin, muscle pain, environmental stress – assess whether you’re doing a good job of communicating that. Someone ordered this product because they believed in it. It may be just a question of getting others to see why.

 

Spa Executive is published by Book4Time, the leader in guest management, revenue and mobile solutions for the most exclusive spas, hotels, and resorts around the globe. Learn more at book4time.com.

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11 easy ways to improve retail sales in your spa https://spaexecutive.com/2023/07/25/11-easy-ways-to-improve-retail-sales-in-your-spa/ https://spaexecutive.com/2023/07/25/11-easy-ways-to-improve-retail-sales-in-your-spa/#comments Tue, 25 Jul 2023 15:14:35 +0000 https://spaexecutive.com/?p=6304 Improve retail sales with these 11 easy strategies.  Improving retail sales in a spa requires a combination of strategic planning, effective marketing, and exceptional customer ...

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Improve retail sales with these 11 easy strategies. 

Improving retail sales in a spa requires a combination of strategic planning, effective marketing, and exceptional customer service. Here are some tips to help you increase your retail sales.

11 easy ways to improve retail sales in your spa

1. Identify your target market: Understand your spa’s target audience and preferences. This will help you curate a product selection that appeals to their needs and desires. Use your spa software’s reports and note taking function to dive deep into customer behavior and really get to know your guests.

2. Offer quality products: Stock your retail area with high-quality spa products that align with your brand and the services you provide. Ensure that they are effective, reputable, and offer value for money.

3. Keep track of inventory: Properly tracking inventory helps you stay on top of what products are selling and which ones are not – so you don’t run out of a popular item and overstock an unpopular one. Book4Time’s inventory tracking will do this for you and eliminate the potential for errors caused by doing it manually. The software’s reports can also help you easily determine things like whether a product is more popular at certain times of year and with a certain demographic.

4. Create an enticing retail space: Design an appealing and well-organized retail area within your spa. Use attractive displays, good lighting, and strategic product placement to encourage browsing and impulse purchases. Make sure the area is clean, inviting, and aligned with your spa’s ambiance. Dive into retail science research to learn a few things about the scents, lighting, layout and general ambience that invites people to purchase.

5. Train your staff: Educate your employees about the products you offer so they can confidently discuss and recommend them to clients. Provide regular training sessions to keep them updated on new products and their benefits. Encourage staff members to use the products themselves, as personal experiences can make their recommendations more authentic. If your team truly loves your products that will shine through and getting other people excited about them will naturally follow. 

6. Cross-promote products and services: Train your staff to suggest complementary products to customers during treatments or spa services. When a client is getting a massage, your staff should be sharing their enthusiasm for the massage oils and aromatherapy products they’re using. Book4Time spa software’s Shopping Cart allows staff to send the recommendations to the front desk through a mobile device so that they can be discussed at checkout.

7. Run promotions and incentives: Offer special promotions, discounts, or loyalty programs to incentivize customers to make retail purchases. This can include package deals, bundling products, or providing discounts for multiple purchases.

8. Enhance the customer experience: Focus on delivering exceptional customer service. Create a warm and welcoming environment where clients feel valued and pampered. Encourage your staff to engage with customers and practice active listening to deeply intuit guest needs – the best guest experiences come when you know what the guest needs before they do – and offer personalized recommendations. 

9. Leverage online platforms: Establish an online presence through your website and social media channels. Showcase your products, share customer testimonials, and provide useful information about their benefits. Utilize e-commerce capabilities to allow online purchases and provide convenient delivery or pickup options.

10. Gather customer feedback: Regularly seek feedback from your customers to understand their preferences, satisfaction levels, and suggestions for improvement. Actively listen to their needs and make adjustments to your product selection and marketing strategies based on their feedback.

11. Collaborate with local businesses: Establish partnerships with complementary businesses, such as hair salons, nail studios, or fitness centers. Offer cross-promotions or joint marketing initiatives to expand your reach and attract new customers.

Consistent effort and a customer-centric approach

Remember, consistent effort and a customer-centric approach are key to improving retail sales in your spa. Ensuring that the whole team is aligned and that they are true ambassadors for your product line is also essential. Continuously encourage your team and adapt and refine your strategies based on market trends and customer feedback to maximize your success.

 

Spa Executive is published by Book4Time, the leader in guest management, revenue and mobile solutions for the most exclusive spas, hotels, and resorts around the globe. Learn more at book4time.com.

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The power of scent marketing to increase sales at your spa https://spaexecutive.com/2023/07/05/the-power-of-scent-marketing-to-increase-sales-at-your-spa/ https://spaexecutive.com/2023/07/05/the-power-of-scent-marketing-to-increase-sales-at-your-spa/#respond Wed, 05 Jul 2023 15:25:00 +0000 https://spaexecutive.com/?p=6295 Scent marketing can be applied in various settings, including retail stores, hotels, casinos, spas, car showrooms, and even in product packaging. That new car smell, ...

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scent marketing

Scent marketing can be applied in various settings, including retail stores, hotels, casinos, spas, car showrooms, and even in product packaging.

That new car smell, the scent of baking cookies in a show home…you’re familiar with the concept of scent marketing. 

If you run a spa, hotel, resort, or a combination of these, you’ve probably already put a fair amount of thought into what you want the atmosphere to smell like — relaxing, inviting, comforting, sophisticated perhaps? Hyatt, Ritz Carlton, Auberge, W, One Hotels, St. Regis, Shangri La … all hotels of renown use signature scent as part of their brand experience. 

What is scent marketing?

Are you engaging the sense of smell to its full potential? Scent marketing, also known as aroma marketing or olfactory marketing, is a strategic approach that involves using scents or fragrances to influence consumer perception, behavior, and overall brand experience. It recognizes the power of scent in triggering emotions, memories, and associations, and leverages this knowledge to create a favorable atmosphere or association with a particular brand, product, or environment.

Scent marketing can be applied in various settings, including retail stores, hotels, casinos, spas, car showrooms, and even in product packaging. It aims to enhance customer engagement, increase brand recognition, create a memorable experience, and ultimately drive sales.

By strategically selecting and diffusing specific scents, businesses can evoke certain emotions or create a particular ambiance that aligns with their brand image or objectives. The example above, which we’re all familiar with, is the show home using the aroma of freshly baked bread or cookies to  create a warm, inviting atmosphere. Luxury hotels, meanwhile, are known for diffusing signature fragrances in lobbies to evoke the feelings they want to associate with their brands.

Studies have shown that scent can have a significant impact on consumers’ mood, perception, and purchasing behavior. It can influence how customers perceive the quality of products or services, improve brand recall and recognition, and even affect the duration of their store visits.

It’s a sensory marketing technique that taps into the power of scent to create a more immersive and memorable brand experience, fostering positive associations and influencing consumer behavior.

The nose knows more than you know

Our noses are more powerful than you probably think. According to Discover Magazine, a 2014 study showed that humans can distinguish around a trillion different odors, up from previous estimates of just 10,000 – though we don’t have words for a trillion smells. Much of the experience of smelling happens under “the radar of consciousness,” as Discover puts it, and we can be influenced without realizing it.

Matthias Laska, a biologist at Linköping University in Sweden, has been comparing senses of smell across species, including humans. Laska told Discover that he has found that humans smell as well as, or better than, many other mammals and are even better than dogs at detecting some scents. These include aromas produced by plants, while dogs are better at sniffing out fatty acids. These differences are likely attributable to evolutionary requirements. 

“Odors that are not relevant for you, you are usually not good at [smelling],” Laska told Discover.

And, like dogs, humans can pick each other out of a literal lineup by scent. In a 2015 study, Portuguese and Swedish researchers collected body odor samples from 20 male university students. 

“Other students then watched a video of an actual assault by a man on a woman (to stir them emotionally), while sniffing a scent they were told was that of the suspect. In reality, it was the scent of one of the 20 male students. Afterward, the sniffers were given a “lineup” of five odor samples and asked to identify the person whom they had smelled — presumably not a very enjoyable task. Results were quite impressive, though. The “witnesses” were able to pinpoint the would-be suspect 75 percent of the time.”

The smell of emotion

Research findings suggest we can also smell emotions. In 2015, researchers from Utrecht University in the Netherlands measured the facial movements of volunteers who sniffed sweat samples of people who had watched either happy scenes from Disney’s The Jungle Book or scary clips from Stanley Kubrick’s The Shining. After smelling The Jungle Book watchers, participants “assumed a genuine happy facial expression,” the study author said. “It was subtle, yet significant.”

More research suggests we can sniff out fear, danger, sickness, and a compatible lover, as well as detect whether we’re related to someone.

Scents may even make us look younger and thinner

In a study that involved guessing the age of women shown in photos, participants who smelled grapefruit – and liked the smell of grapefruit – estimated the women to be 12 years younger than their actual ages. If the participants smelled spicy and floral notes, the women looked four pounds slimmer.

5 examples of scent correlated with increased consumer spending  

Now we know a few of the things we can detect through scent and how it may influence our perceptions, let’s look at five examples of when scent was correlated with increased spending.

1. In a field experiment, customers of a second-hand clothing store faced one of three conditions: fresh linen scent (pleasant and priming the idea of “clean clothing”), vanilla sandalwood scent (pleasant control odor), or regular store odor (odorless control). The results showed that consumer spending in the fresh linen scented environment was almost double that of spending in the odorless control and pleasant odor control environments. 

2. In a now famous study, Alan Hirsch and a colleague conducted an experiment in which subjects were sent into two identical rooms, one with a pleasant floral smell and the other with nothing but filtered air. In each room was an identical pair of Nike shoes. After 30 seconds in each room, the subjects were given questionnaires about the shoes. “What we found,” Hirsch told the Chicago Reader in 1994, “was that 84% of the subjects said they were more likely to buy the shoes associated with the mixed-floral smell” – even when the smell dropped to undetectable levels. They also reportedly appraised the shoes at a higher price.

3. Another early 1990s study by Hirsch was conducted on three slot machine areas at a Las Vegas casino. Two were odorized, each with a different aroma, and a third served as an unodorized control. The money gambled in the area scented with Odorant No. 1 was 45% higher than on the previous and following weekend, while the amounts of money gambled in the slot machines surrounding Odorant No. 2 and in the control area did not change. 

4. A study at Washington State University found that “simple scents” may work best when it comes to influencing spending. Researchers developed two scents: a simple orange scent and a more complicated orange-basil blended with green tea. Over 18 weekdays, they watched more than 400 customers in a home decorations store with either the simple scent, the complex scent, or no scent. The group exposed to the simple scent spent an average of 20% more. 

5. In 2015 a research team at Temple University found a correlation between warm scents, consumer preference for luxury (more expensive items), and an increase in overall spending. The theorized reasoning was interesting. “If there is a warm scent in the room, people perceive the room to be smaller, and more full of other people,” said the lead study author. “As a result, they feel a little less socially powerful. In order to restore their feeling of power, they prefer premium or luxury brands.” The authors wrote, “Our findings provide practitioners with concrete insights on how different categories of scents work, and they can ultimately be translated into specific guidance for retailers’ strategy.” 

A more immersive and memorable brand experience

Scent marketing is a powerful tool that businesses can utilize to create a more immersive and memorable brand experience for their customers. The sense of smell has a profound impact on emotions, memories, and – potentially – purchasing behavior. As businesses continue to explore the potential of scent marketing, it becomes clear that the nose truly knows more than we realize, and harnessing the power of scent can be a game-changer in the world of marketing and branding.

 

Spa Executive is published by Book4Time, the leader in guest management, revenue and mobile solutions for the most exclusive spas, hotels, and resorts around the globe. Learn more at book4time.com.

 

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Dear Sal: how can we improve retail sales at our spa? https://spaexecutive.com/2022/12/08/dear-sal-how-can-we-improve-retail-sales-at-our-spa/ https://spaexecutive.com/2022/12/08/dear-sal-how-can-we-improve-retail-sales-at-our-spa/#comments Thu, 08 Dec 2022 17:20:50 +0000 https://spaexecutive.com/?p=5966 Sal Capizzi, Marketing Director at Book4Time and a former Director of Spa and Wellness at NEXUS Luxury Collection, shares his expert insight into your reader ...

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Sal Capizzi, Marketing Director at Book4Time and a former Director of Spa and Wellness at NEXUS Luxury Collection, shares his expert insight into your reader questions.

Send your queries about managing staff, operations, and anything else you want to know (challenge him!) to scapizzi@spaexecutive.com

Q. Dear Sal, 

“We are looking to increase our retail sales, and possibly give our retail section a facelift to be more visually appealing. Any suggestions?”

A. Hi there, 

Excellent question! I would say to start with the fundamentals; run retail reports and see which lines and items you sell the most of and where the areas of opportunity are. From there you will be able to get a better understanding of how your retail business is operating and why. 

If you notice one serum from a particular line is doing really well, audit your selection and see if you are carrying the entire line from that vendor. When a guest is in love with a single item, they are likely interested in the benefits of the entire line, this could boost your sales from a 100 dollar serum to upwards of 500 dollars when you factor in a cleanser, toner and moisturizer as well. 

To be aesthetically pleasing to clients make sure your display makes sense. If you’re looking to sell products from a vitamin-C or antioxidant line, purchase a decorative orange from Pier-1 and line it up on the shelf with those items. This happened in one of my spas. We did a big launch party of a vitamin-C line from one of our vendors, called it “Mimosas and Mini-Facials,” place bowls of real oranges everywhere, and served… mimosas. Whoops! 

But, not only did we sell out of the product, but we were able to capture guests’ information during the event and created a running list for future events of people who were interested in attending. Nothing like a warm buyer who has already had a great experience with you. 

Did your vendor supply you with a table brochure? These are likely designed nicely and are meant for display. They may even include a couple of key product benefits on them that catch people’s eye as well. Put those out as long as they align with your mission and brand standards. 

I would also suggest strengthening the relationships with your vendors. Do not be afraid to reach out and ask for samples so that your estheticians can try out the products too. They are going to be a vendor’s biggest advocate and your biggest sales people just by making simple post-treatment recommendations. Be open with your vendors and see if you can promote a gift with purchase. Maybe it’s a deluxe item from their line, maybe the gift is an add-on to a treatment that has nothing to do with their line at all! 

Get creative. It’s likely your guests are already going to have an exceptional experience at your spa, so why not make them feel like they won the lottery for receiving a gift, just because they purchased something? I’m not saying to do this all year round, but create quarterly promotions that make sense for your boomin’ business! 

At the end of the day, vendors want you to have strong sales, because when you are doing well, they are doing well. So, they are always in a position to offer you support, training and tools to help grow your business.

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3 tips for optimizing your retail revenue https://spaexecutive.com/2021/09/03/3-tips-for-optimizing-your-retail-revenue-from-tw-squared/ https://spaexecutive.com/2021/09/03/3-tips-for-optimizing-your-retail-revenue-from-tw-squared/#respond Fri, 03 Sep 2021 03:34:26 +0000 https://spaexecutive.com/?p=5112 Retail is often a challenge in spas, but you can make it a significant part of your revenue. Start optimizing your retail strategy with these ...

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Retail is often a challenge in spas, but you can make it a significant part of your revenue. Start optimizing your retail strategy with these three tips from TW Squared.

 

By Tawnya Wych and Tracie Weeden, Co-Founders & Owners of TW Squared Retail Services.

 

 

 

Retail can be a challenge in spas. This doesn’t have to be the case. The spa industry is rich with product and skincare experts who are well equipped to guide guests in making the right purchases for their individual needs. It’s just that sometimes retail takes a back seat to everything else happening in a spa at any given moment. A retail management system and the right support and training can help.

Retail is an integral part of hospitality, spa, and wellness business that can help create an exceptional customer experience. Your retail revenue should be at least 10% of total spa revenue, and with a variety of brands and categories, online retail, secondary or pop-up shops, and events throughout the year, you can even achieve 20% retail revenue, or even more (depending on the size of your retail space)!

That might seem high, but it is absolutely doable.

If you want to increase your spa’s retail revenue, start optimizing your retail strategy with these three tips:

Implement a retail management system

You’re busy. A retail management system can help. These systems are designed to support the running of retail operations, and can handle such tasks as ecommerce activity, flow of inventory, customer relationships, and more.

It’s important to gain a true understanding of your system in order to get the most out of it.

Before choosing a system, determine your needs today and any future needs your business may have, then explore various options to understand the functionality they offer. The size of your business and number of items and categories you sell will determine if an all-in-one system for services and retail is sufficient. Large retail operations may want a more robust back-office inventory system that enables you to track color and size easily and offers more reporting options for buyers and executives. Identify the decision maker and leaders from each department that will use the system and have one point person assemble information from others and coordinate with the system team.

You’ll have to gather your data, so be obsessive about providing the most complete and accurate data you can. Include only active items, as bringing in every item leads to confusion. It’s much easier to add items than to remove them from a system. Do not take shortcuts on data and expect to fix it later, as that rarely happens.

If you spend time upfront, you set yourself up for success.  Virtual training before go-live is important to ensure everyone understands the system and their role. Refresher training and continued support after the install ensure success.

Stay on top of your inventory

Staying on top of your inventory means you’ll never run out of a popular item or overstock one that isn’t selling. It will help drive your sales and allow you to make better business decisions for the future.

Use a retail inventory system to create and generate daily, weekly, and monthly sales reports.  It’s important to check discounts, margin, top sellers, and sell through. Someone should be dedicated to restocking the sales floor daily, to avoid missed sales opportunities.

Identify vendors, categories and items that are best sellers and generate the most revenue. Provide the team with purchase order reports, so they are aware of incoming product and prepared to receive it immediately upon delivery. Review inventory reports, check for items with low on-hand numbers and generate reorders to meet the demands of your sales and maintain optimum stock levels.

Maintain your system to ensure inventory is accurate. Perform regular physical inventories and address any shrink issues such as internal theft, external theft, and data integrity issues. Analyze your sales by shop, vendor, classifications, product age, turn, and cost of goods sold.

A thoughtful and thorough analysis of sales and inventory will take your business to the next level. You should never be out of stock of best sellers when you have a sophisticated system and know how to use it. Maintain actionable and clean data. You must know what you sold, when you sold it, and at what cost, to make better buying decisions for the future.

Get the whole team on board

It’s imperative to teach your team to fully utilize your retail system and make sure they have the time to be on the sales floor and spend time with customers. Hire people who are passionate about retail and turn them into evangelists for your products. Successful retail teams build strong relationships with their vendors. They have product information and can tell the story of the product to customers. Include everyone in vendor training from front desk staff to therapists. The more they know, the better they can sell, and you want your staff to be passionate about the products they sell.

When something isn’t selling, ask vendors to swap it out rather than taking deep markdowns.  Schedule trunk shows and events with current vendors to increase sales and test potential vendors without investing in new inventory. Your retail shop is a work in progress and should evolve with new people and new products.

Listen to you customers and staff about what’s missing from your assortment and look for those items. Your customers know what they want! Exploring new brands and developing custom products will take your retail to the next level.

Pay constant attention to your retail and you will be rewarded with increased revenue.

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