Only the Best – Making the Most of Your Salon Retail Offerings

LEARN WHAT CLIENTS WANT AND NEED

Along with having products that reflect your brand identity, a very important part of having a strong and effective retail offering in your salon is understanding your demographics. Consider what your clients are looking for in their treatments and offer products that compliment them or offer them a boost between visits. Products that aid in maintaining their hair between bookings can be a great sell.

But having too many products that clients neither want nor need occupies valuable retail space that could be used by something that does sell and eats into revenue due to cost versus demand.

One tactic could be to create a survey that allows your clients to select their favorite brands or types of products, giving you the opportunity to focus on those with the highest demand.

OPTIMIZE INVENTORY MANAGEMENT

Effective inventory management is essential to not only having a strong retail offering but also to reaping the benefits. Tracking what products sell the most will give you a good idea of how much retail space those types of products should occupy while also allowing you to trim down inventory on things that don’t move quite as often or as quickly. The standard shampoos, conditioners, heat protectants, and styling creams typically move more reliably while specialized items probably need less space.

Always be mindful of what’s working and what isn’t and remove underperformers from your roster if necessary.

ARM YOUR STAFF WITH KNOWLEDGE

Knowledge of your product offerings can strongly impact retail sales. Your clients rely on you and your staff to know what’s best for their hair and if your knowledge of a particular product line’s effectiveness is lacking then they may pass on the purchase. Learning active ingredients, the product’s effects, and making solid recommendations goes a long way toward building your client’s trust in your knowledge and in the products you offer.

When a new product or product line comes into your salon, consult with your staff and learn about it. Play out some scenarios and try to predict what your clients might ask so that everyone can learn the answers together.

The more you and your staff know about your products and the more you believe in them and their effectiveness, the more likely your clients will be to purchase them.

BUILD AN ATTRACTIVE RETAIL SPACE

Having a great selection of retail products can be great, but organization and attractiveness are just as important if not more so. You are in the business of making your clients look their very best, so if you have a retail presence that looks like it was hit by a tornado you are likely to see a negative impact on sales. Organizing your retail space by brand, product types, or even colors can be pleasing to the eyes and demand more attention.

Clean, bright lighting can attract a client’s eyes to your retail displays, so consider investing in lighting that highlights your products without too much glare or heavy shadows. Decorating the retail space in an attractive and pleasing way can also draw more eyes.

SMART PRICING AND INCENTIVES

Of course, all of these tips can fail if your pricing isn’t competitive. The challenge is considering profitability versus what your clients are willing to spend. While it’s tempting to apply a hefty markup to maintain healthy profit margins you should be aware of what local competitors are charging, how the economy is affecting client spending, and what price makes sense.

Offering premium products with more affordable alternatives can help cater to a wider range of client budgets. Creating bundles so that clients can save a little bit of money can incentivize larger purchases. Providing sample sachets of higher-end products can give your clients a chance to try before they buy.

Seasonal and limited-time promotions can also help drive more retail sales during slower periods, potentially helping to offset the loss in service revenue.