The plan-o-gram system helps the manager maintain stock because everything has a place and it’s obvious when something needs to be replenished. By using a plan-o-gram, you can ensure the retail display remains consistent, and you won’t run the risk of losing a sale because something is out of stock.
When it comes to pricing your retail items, the plan-o-gram system is fantastic because you can use printed price signs in each allocated area instead of putting labels on each item. This is also a very clean and efficient way to adjust prices. Many retailers recommend you keep a price sheet at your counter listing all items and their prices with a quantity box. Then your organized customer can take it with him and plan on the items he needs for his upcoming move.
Your prices should always be aligned with your competition. Every facility manager should conduct an apples-to-apples comparison in his marketing area to ensure his prices are better or similar to other retailers. If your item has special advantages over a similar product, know why and be able to explain it to customers. Here’s an example: “Our packing peanuts are a little more expensive than what you'll find at other stores because they're biodegradable, not foam.”
The general rule when determining retail pricing is to double your cost and round up or down to be competitive or better than other retailers. Also, consider offering quantity discounts that bring the customer up to the next level. For instance, price tape rolls at $2 a roll or three rolls for $5. Whether your goal is to advertise your best sellers or clear out unwanted items, put some time and thought into your retail store. Keep it simple, but attractive. Remember, your customers are shrewd buyers and they’ll appreciate your expert buying and selling abilities.
Nancy Martin Wagner is vice president of marketing for Chateau Products Inc., a lock-and-latch manufacturer specializing in the self-storage industry. The company offers disc locks and padlocks for resale, cylinder BEZEL latching systems, retail-store fixtures and packing supplies. For more information, call 800.833.9296; visit www.chateauproducts.com .