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Is Wal-Mart Your Accessories Department?
Okay, that was a little sarcastic, I admit. But the cold truth is that our industry sells millions and millions of dollars in accessories for the retail giant and other big box stores each year. Statistically around 60% or more of all mattress buyers purchase new sheets somewhere shortly after purchasing the new mattress. You do the math. There are a lot of dollars left on the table.
When talking to mattress retailers around the country I often ask about the lack of a good accessory plan in their merchandising. The answers I receive are pretty consistent: 1.) Too complicated to keep the right colors and sizes in stock. 2.) My sales staff will give them away to make a deal. 3.) I would have to carry too many dollars in inventory. 4.) There is a Wal Mart down the block and the customer can get them there cheaper anyway, I can’t compete with this. Let’s look at these issues one at a time.
1.) “Too complicated.” While this is understandable given the huge variety of sheets, and mattress protectors, pillows and the like that are offered by the mass merchants, the concern comes from lack of understanding on our part. We need to stop looking at sheets as a product and consider them for what they represent to our customer. We provide a service by offering bedding that fits the product we sell. We make no attempt to compete with Wal Mart or Linens and Things; they will have more selection and often a lower price. They cannot offer expert advice as to the fit of the bedding on a particular mattress. Nor can they properly match the quality of the linens to the quality of the mattress. The customer that just purchased a top of the line sleep set, could very easily end up purchasing a lower quality set of linens that will detract from the enjoyment of the entire purchase. It is possible that an improper set of linens could lead to a comfort return. Look at the sheet sale as “Comfort Completion”.
2. “Let’s make a deal.” This thinking varies some from retailer to retailer. Whether you as a retailer believe in it or not, many, if not most, salespeople will state that everybody is looking for a deal. Yes, there will be times that it may be appropriate to offer sheets or another accessory item as an inducement to purchase, but more often it can be a very useful tool to help sell a mattress without giving away the sheets! Thorough training and on the spot coaching is required here as with any other training process. Make the need for linens about fit. Mention that this is critical to the overall comfort of the mattress and that sheets that fit properly are available right here. This is done early in the sale. Later after the customer has found a mattress that fits them you can close the entire sale on the price of the sheets. In effect, the customer is making a $100 buying decision on a $1299 purchase (or more). “Most of our customers start with two sets one white and one ecru, does that work for you?” If they say yes to sheets they say yes to the sleep set.
3. “Sheets coming out my ears!” It is important to be aware of stocking levels for these types of accessories. By stocking in each location the inventory dollars add up quickly, and if not ordered correctly dead inventory accumulates. So stock only a few basic colors, in the correct depth and sizes to match your selection of sleep sets. This also allows you to give the customer something to take home with them, helping to solidify the sale. Use direct fulfillment programs offered by the linens or accessory vendor. Many will drop ship the items directly to the consumer for a minimal charge. This allows you to reduce the amount of on hand inventory while actually expanding the consumer’s choices.
4. “Wal Mart” They are everywhere, not just Walmart, but Target, Linens ‘n Things, Bed, Bath and Beyond. They all will offer more variety and colors. They will also have 300 thread count sheets from $59.99 to 199.99 queen size. They will also not have anyone that can fully explain why the prices vary. The mattress you just sold them may require a 20 inch corner in order to fit properly, most sheet sets they offer come in deep pocket (15”) or extra deep (18”) pockets. They may not work. What about the 8 inch Visco mattresses. You need smaller pockets for these. Shopping for sheets in one of these stores is confusing. We have the ability to help our customer through this process, and save them a trip to another retailer. Besides, is there a reason that we would want those other guys to have the profits instead of our own business?
The value of accessory sales to your business can be determined by looking at your mattress volume. A volume of $1 million at $599 average ticket would net about $55K in additional profits annually at 60% penetration to mattress units. And this number reflects sheets only, add more for pillows, Duvets, mattress protectors, and under quilt products!
Currently there are a wide range of accessory products available that offer the consumer something extra. Ambiance related items, sound machines, slippers, dense wool under quilt products to aid breathability and comfort and more. These items can be used to enhance the customers’ perception and enjoyment of your store and the core product you sold them. Taking advantage of this opportunity is just one more way for you to maximize your store’s potential. The sales people have an opportunity to win with additional commissions, and the consumer wins by having the proper fit and quality for the mattress set.
In 2007 have your own accessory department!!!!
Inquiries
should be directed to: or call (818) 761-8560 |
By:
Tim Sommers