The best way to profit from high-margin items is to create a sense of community around the products, says Michael Kanter, owner of Cambridge Naturals in Cambridge, Mass. Maintaining openness between employees and customers breeds trust, so consumers aren't afraid to invest in expensive products the store recommends. Here's how to move those goods successfully.
- Educate. Train the staff in how to communicate the products' value. Cambridge Naturals holds up to three training sessions a week. Use such sessions to educate crew members on a product's story. Then encourage employees to try the product themselves.
- Communicate internally. Urge employees to share their product experiences with each other often. Cambridge Naturals uses a daily log that employees check when they come in to learn about the positive or negative results from using a product. Take advantage of free samples to separate the duds from the studs. Chances are, if your employees love a product, so will your customers.
- Go digital. Implement an email campaign targeting the high-end merchandise on your shelves. In an enewsletter, answer questions customers are too shy to ask in person, and explain confusing ingredients. Detail what the products are and what they are used for, and clear up the mystery.