Lay-Aways—Can They Really Increase Sales?
We rarely have a customer who would like to put an item on lay-away and when we do offer it to our customers to secure the item they love they don’t bite. We often get the standard answer, “When I’m ready I’ll pay for it upfront.”
I have often thought of offering lay-away for add-on items. For instance, most couples whom purchase an engagement ring from us—rarely come back for their wedding bands. I have starting talking to my staff about showing the ladies and men’s band so to get an add-on sale. Let the customer know since the band is here they won’t have to go hunting when the time is right. Most my employees have said the guy has a budget and the engagement ring is already more than what he wanted to spend—so why should I even show the band. Why not offer to put the band on lay-away? Our store only requires a 25% deposit to put an item on lay-away?
When making an engagement sale—Do you show the matching ladies band and men’s wedding band? Do you offer to put it on lay-away? Do you have a lay-away plan and can they really help to increase sales?
J. Ford Sunderland commented:
If your customers rarely come back for the wedding bands, your
salespeople must be doing something wrong. Do you insist that they
follow up with their customers? My best salespeople follow up to
make sure they are getting that sale. When business is slow, I
print up a report of engagement rings sold in the last year and
call the customers that have not purchased the bands yet. You could
also hold a bridal event in the store, and offer 10% off the
man’s band. Layaway helps, but your salespeople need to make
it happen.
King James commented:
Why not offer a comprehensive finance program? There is no charge
to the store to have the program and offers many different
promotional options. Can you imagine not accepting credit cards?
NO! So why not offer financing? It is so simple, quick, and easy!
Christopher commented:
One method that generally works is to tell the customer how much
gold and platinum have gone up recently and that they will go up in
the future, so if they secure the item then the sale price today is
theirs, if not they pay more in the future.
