Are you thinking about selling retail in your gym? Are you already selling retail, but you just aren’t seeing the results you’d like to have?
For something that sounds so simple it can prove to be pretty tricky.
Here are 5 tips that are sure to help you rethink your retail strategy and supercharge your gym retail sales.
Where you’re putting the retail products on display can actually make a huge difference. It’s been determined that the best place to put your retail items is in the front of the store.
This way you can catch your client’s eye when they come into your gym and when they head out.
This is also good if you are selling items they may have forgotten to bring with them. A client walks in and realizes they didn’t bring a yoga mat to class but then they notice that you have some pretty nifty ones for sale. Then they realize that it may be time to replace their current mat anyways.
It’s about location, but more importantly convenience. The best retail sales come from convenience driven purchases. If you make it available, and have it catch their eye, they are more likely to buy your products
The Right Products
You don’t have to just settle on selling workout clothes with your gym’s brand on it you can branch out into different areas. Once again, yoga mats are great for those who are looking to replace theirs, or if they forgot it at home and don’t want to make the trip back.
This can work the same for pedometers or heart rate monitors for those who have been thinking about getting one. There’s no better place to test out their new product than on their next workout at your gym.
You can also apply this to other retail items you can sell such as supplements, branded towels, water bottles, and even hair ties for the ladies who may have forgotten theirs at home.
Now, you may have your retail sitting at the entrance and exit of your gym. But, this doesn’t mean people are aware of everything that may be on the shelves. You have to promote your products in your gym.
This doesn’t mean line all your walls with big sales posters and discount signs. No, the simpler the better when it comes to promoting your retail.
Try placing an ad for your branded pedometers and heart rate monitors near your cardio machines. Place an ad for the yoga mats and materials in the room the yoga class takes place.
This smart promotional placement guarantees the clients who will use those specific products, are seeing them, and are always aware you have them for sale.
Pricing your retail items can be confusing. It can be difficult to determine what to price them at while still making sure that they sell. Try pricing your items at a 100% markup. This will ensure that you’re making a profit whenever you sell an item.
You can always go up from there if you can see a certain product is moving faster than others.
You never want to price your items to high or else you will run the risk of your clients turning away from your retail all together. If you are worried about how an item will sell and aren’t sure if you can make a profit off of it, only buy a few and test them out.
The 100% mark up is a safe place to start to help gauge whether the interest is there on the product and ensure that you aren’t losing money.
Once again, it’s all about convenience. By providing the items they may have forgotten at home, or were already looking to replace, you provide a convenience level to your client’s that is much appreciated.
Selling retail doesn’t have to be as tough as it sounds. You can make it simple by making sure that you choose the right type of retail to sell, the correct location to place the retail in your gym, and smart promotion of the products.
This way you are guaranteed to supercharge your sales.
When your new and existing clients spread the word about your gym they’ll not only compliment on your amazing staff members, the awesome classes you teach, and the fantastic atmosphere of your gym they’ll be stating you are their number one destination for all their fitness needs.
That creates value beyond sales.