By Stephen Paczkowski, Expert Warehouse
When I first started in retail, I was in high school and trying to buy my first car. The lessons I learned then in the retail environment started to resonate when I embarked on my post-college career with a computer manufacturer supporting retail outlets. The mantra was repeated often: With attachments come bigger profits. This tenet still holds true today.
In a past column we discussed how large TVs now offer you the chance to add home delivery to every TV sale. Your potential earning power should not stop there. Accessories, warranties and other attachments can all end up driving what begins as a typical sale into a potentially extraordinary one with doubled margins or better. Expert Warehouse can help you do just that every day by adding value onto an ordinary TV or audio sale. Let’s explore some ideas.
Will the TV be wall mounted? New Expert Warehouse (EW) partners like Kanto and MantelMount offer options. Kanto has a unique consumer-driven unboxing model with user-friendly step-by-step color install and parts compartments, while MantelMount offers an over-the-fireplace mount with color changing handles that glow red when reaching unsafe temperatures. Other choices include Sanus, Chief and more.
How will the TV or audio device be wired? While many audio products are Bluetooth or Wi-iI enabled, many more still require cabling, and Expert Warehouse offers choices for every budget. There’s no need to go to outside EW to get inexpensive cables! For example, new partner Tributaries offer studio-quality HDMI and audio cables with great warranties. Other choices include Tripp Lite, Startech, QVS and Belkin.
Will the TV be installed outdoors or in a business environment? We have outdoor TVs from Sunbrite TV and Séura in stock, and for businesses we carry commercial models from Samsung, LG, Sharp and more.
Is your customer a cord cutter or interested in joining this movement? Or does your business client not have a cable or satellite feed? Mohu high-powered 1080P/4K antennas could be the answer. This trend is not slowing down and works very well for over-the-air signals – and they’re free!
What about speakers? Will they need to be on stands, in furniture, or wall mounted? Kanto makes glass shelving and speaker stands; Sanus is reputable in this area; and Definitive has options as well.
What is your customer plugging into? Power surge protection and line conditioning should never be taken for granted, and customers always should protect their investment. We recommend brands like Tripp Lite, Pyle Tributaries, and Schneider Electric.
Does the installation require smart-home product, or is this something the consumer expressed interest in during the discovery phase of your consultative sales process? If so, EW carries Google Assistant smart products as well as Samsung IoT items.
How about TV alternatives, like projection? LG has some exciting new short-throw projectors that are very highly rated, and JVC’s Procision line is among the highest-rated LED projectors available today – and is available in 4K as well. We also offer a variety of other popular brands like BenQ, Optoma and Epson. And what about projection screens? Our brand stable includes Da-Lite, Draper and Elite Screens.
Will you need to install a home network, upgrade a current one to a mesh network or otherwise augment it? We carry networking products from old standbys like Linksys and Netgear as well as by newer brands like Ubiquiti and Engenius. We also offer tablets, PCs and peripherals. There are so many to choose from!
I hope this brief overview of add-on sales ideas helps you brainstorm ways to build a better basket for your customers. Maybe you could create some bundles for customers, using mounts and power conditioning, or a speaker system and stands. What would speak to your demographic?
The possibilities are endless when it comes to increasing consumer spend in your store. The fun part is discovering what works best for you, your team and your customer. The younger me, in the guise of your younger team members, will thrive on your direction in this area of revenue growth and profit expansion.