By Mr Retail
This holiday will likely go down as one of the most unique selling seasons in the history of mobile electronics. Product shortages, challenging clients, and uncertainty about the future will all weigh into our decisions. So, here are some things to consider:
If you are in a colder climate where remote starters are popular, questions to ask might include: Do I raise my prices? And, if so, how much? If you elect to raise pricing, I suggest tracking the sell through rate at these new price points to make sure you are maximizing the category.
Am I comfortable that I will have inventory on remote start? If so, then promoting the category might be a good idea. If you sincerely think you will run out of inventory, then your promotion schedule might be reduced or eliminated. Only you can make the best judgement call for your business.
Are you in the window tint, paint protection, or ceramic coating business? If so, these are all items that people like to give as gifts so maybe put a stronger emphasis on these categories as you have inventory.
Look through your audio categories and see how inventory is going there. Maybe you can’t promote head units based on availability, but you can push amps, speakers, and powered enclosures, assuming you have inventory. Thirty years ago I was indoctrinated into the “trunk forward” selling that Rockford made popular and it served us well. So maybe that may work for you as well.
Gift certificates are great because it gives you time to find inventory since the recipient is locked into doing business with you.
Advertising. Wow! How to handle this one? If you, as a retailer, sincerely think your products will be desired as gifts this holiday season, then, by all means, promote them if your inventory allows for that. What you probably won’t do is focus on sale pricing, but rather, that your team can help someone find “the perfect gift for the special someone.” In short, remind them that you are vehicle experts and will help them with ideas for the gift recipient.
Finally, we HAVE to go into the holiday season with a positive outlook and attitude towards our clients. Lots of these folks may only come in your door because they want to buy a gift, so give them the best buying experience they have ever had. I hope we can sit back in January and reflect on a win win for our industry this year.
About Mr Retail
Mr Retail offers opinions and information on car audio retailing for CEoutlook. He wishes to remain anonymous. He has owned a retail store in this country for over 20 years now. Mr Retail loves what he does and loves the 12 volt industry and is happy to share his hard won expertise.
Photo credit: Cadence Sound