Retail Observer

RETAILOBSERVER.COM SEPTEMBER 2019 52 H ow many times have you sold a mattress set and watched your customer go across the street to a big box store to buy the top of bed? I hope the answer is never, but as we all know, it does happen, too often. Keith Mackey, senior vice president of sales with Protect-a-Bed, says the national average for attachment of these items can be as high as 65% for protectors and 10-20% for pillows, with the average per item coming in around 30% . Mackey added that three out of four customers are purchasing new top-of-bed items with a new mattress purchase. Which leads me to wonder: If you aren't selling your customers the top of bed, who is? Top-of-bed business can be a big part of your product mix. Home Textiles Today reports that the top-of-bed business was $5.055B in 2016, a 1.6% increase over 2015. And we do know that our customers still prefer to buy from us rather than shop online, since 70% of all purchases are done in the store. How much of that 70% share are you getting? I think we too often feel that we must give these items away to close the sale. While it's all right to offer "freebies" during special promotions aimed at driving traffic, freebies may often just be a crutch. How can we make sure we're getting a fair share of the multi-billion-dollar top-of-bed business? A little research shows that hardly any of the big box stores you're competing against are giving these items away. Instead, they use the "20% rule." The research findings show that consumers will shop your store if you're offering a sale, but that the sale needs to offer 20% or more in savings. So what's your best approach? • Have you ever offered a savings on your sheet sets or pillows, instead of giving them away? • Have you thought about a bundle-and-save strategy? • Does your display say "I'm in the top-of-bed business"? • Are you offering a broad-enough selection, including premium sheets and protectors? While it's fine to offer bargain items, don't be afraid to promote the items people are buying. The average price consumers pay is $98 per item. What's your average ticket for these items? Remember, consumers will pay more for premium products in your store than they will online or at a big box without a professional sales associate to guide them. At the end of the day, we all want to run a successful business that will endure for years to come. A proper display with a good selection of merchandise isn't expensive and can yield a huge return. Whether you're currently selling accessories and top-of-bed items, I would challenge you to look at your close rate. Is it averaging 30%? Are you giving away too many items? What can you do to increase your close rate? Are you providing a spiff to your sales staff? It's amazing how a few extra dollars in the RSA's pocket will help their attachment rate and raise their average ticket. And the cost to you is minimal. Here are a few more things to consider. How does your display look? Is it outdated? Does it need a facelift? The Cotton Inc. 2017 Home Textile survey found that 43% of all consumers were inspired to buy because of the store display. If your display is outdated, it will affect your sales. There are some very cost-effective options, and many companies that can help you set up the right display and product to maximize your profits. Set yourself apart from the other guys, and start reeling-in the business that is currently walking across the street. Remember, if you don't ask for it, you won't get it. Chad Fischer, Director of Bedding Nationwide Marketing Group ARE YOU LETTING YOUR PROFITS WALK OUT THE DOOR? Chad Fischer Furniture Trends RO

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