Retail idea: The ‘Recession Buster’

When the economy takes a downturn (or there’s some economic concern in general) we see a few key patterns emerge in the retail wine sector:

  • Sales of high end wines tend to go toward the more historical and established names with a reputation for consistent high quality (Montelena, Jordan, Shafer, etc.). Unproven, higher priced new brands tend to have a difficult time in a market like this.
  • Jane Q. Public is far less likely to buy on a whim, and she wants to know key information about what she’s buying beyond somebody saying ‘It’s good’.
  • People want a bargain, or a least a deal, or at a bare minimum a sale.

So what can you do? It’s amazing how a few simple adjustments can dramatically improve sales.

  • Group the ‘tried and true‘ higher end wines together. Put one sign under all of them.  (Even something as simple as “The Tried and True” can make all the difference in the world.)
  • Be sure key information is available through detailed shelftalkers, rather than just a rating or review snippit. Food pairings like “Pizza and burgers” helps the average joe feel that wine is a beverage and not just for special occasions.
  • Make a deal for the customer: buy two bottles and save some money. Regularly $14.99, buy two for $28.00. In the end, the customer is saving less than 10%; but the sense of getting a better price than normal dominates. Or buy six bottles of Italian wine and save 20%. Or any wine with a screwcap is 15% off this month only (call it the “Screwed Economy” sale!?!?). Even the smallest of deals/offers/sales can keep them coming to you instead of the competition.
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