We are living in very trying times. Not least due to the increasing costs of living – and of course, rising bills in bricks and mortar stores.
I have for you some interesting statistics. These relate to how people shop and I believe, translate very well in respect of bridal retailers & wholesalers.
- Approximately 10-14% of customers will only buy the cheapest product – whether they need it or not. If it’s the cheapest, they’ll have it
- Only 0.5% of customers ever buy the most expensive products.
- 85.5% are customers who are not interested in the cheapest or most expensive. Their criteria is; getting the best possible value for money.
Customers want to know they have received sufficient value for their financial outlay. Working out how much your gowns are worth to your customers can be reflected in price and quality rolled into one. The benefits of their purchase must therefore outweigh the costs. They want to know they have made a wise purchase whether the cost be perceived as high or low by them.
What you offer in terms of customer service and care; how well you sell to them, your professionalism, integrity, honesty, empathy, knowledge, appointment content and duration, etc is the cherry on the top. The experience you offer and how you make your customer feel will complete the picture of value for money in the mind of your customers.
It is normal for customers to want to shop around, especially brides to be. The secret is to know how to gently break the cycle they are in – in the loosest sense – and help them buy from you. By offering not just competitive pricing but brilliant customer service and care; how easy you make it for them through all the stages of their dress buying journey, will determine whether the package you deliver can be seen as fantastic value for money from their perspective.
Keep up the amazing work. Remember you are the best of the best in retail.
Helena
