Triple Your Retail Sales In Two Easy Steps

If you have a retail business you are always looking for methods for increasing your average sale. The reason is pretty simple, if you have 500 sales a week, and your average sale is
$50, you will gross $2500 a week.

But if you can increase your average sale to $100, and your number of sales stay the same, you will now gross $5,000 a week.

Assuming you are working on a 50% profit margin, your net profit will increase from
$1,250 a week, which is a respectable figure, to $2,500 per week. At this rate, you will earn $130,000 a year. Formerly you were only earning $65,000 a year, so it definitely makes a great difference if you double your average sale.

What if you tripled your average sale?

You would then earn an annual profit of $195,000.

So how do you triple your average your average sale?

You need to give your customer's an overwhelmingly good
reason to spend more money.

Here are some of the most powerful tools you can use to increase your average sale.

Sales Tip #1

Sell complimentary accessories. If your customer is buying a dress shirt, offer him
matching cufflinks, neckties, and pants. Or if you sell non apparel items, such as a cell phone,
offer your customers a car charger, cleaning kit, a Bluetooth headset, and a cell phone case.
The possibilities are only limited by your imagination.

Sales Tip #2

Offer warranties and service agreements. How about a suit store offering a cleaning service? The suit store can make a deal with a local dry cleaner to provide cleaning for its customers. If the customer buys the cleaning offer, the store would give the customer a receipt to
have his suit cleaned, and the dry cleaner would receive a discounted payment from the suit store.

Car dealers make a great deal of money by selling extended warranties and service agreements to their customers. You can implement the same strategy by modifying the offers to your product line.
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