secrets of the top 10 most powerful retailers
Ranked by industry standards for sales per square foot.
Take a look at the list and you will find that these retailers are throwing haymaker, knockout punches for their category and the numbers are not on the chart.
They released these statistics in the last four quarters of the downturn, which made it all more impressive.
Although these companies represent samples of different industries-
From gadgets to gold to golf shirts. -
Almost all of them weave their success from a common thread, and I\'ll talk about it in a moment.
Here are the top 10 retailers and their sales per square foot: 1. Apple: $5,6262. Tiffany & Co.
: $2,974 hot news in Southern California earthquake Bahamas helicopter crash World Cup Dispute Trump \"pays tribute to the United States\" 3. Coach: $1,8204.
Athletica of Lululemon: $1,73 15.
Wholesale Costco: $9987.
Signet jeweler: $9558.
Ralph Lauren: $9049.
Total food market: $867.
Best buy: from a $831 perspective, think it\'s a hit
Admirable retailers like Target have sales of around $290 per square foot, which is typical among many retailers in many segments.
That means the Apple store-
This might use the same display space for a phone, just like Target used for a whole dress ---
Nearly 2000% of the income from the property.
* So what are these star actors doing to post such extraordinary numbers?
Not all the same rules apply to these companies, but they are all good at one thing: creating a retail environment, product, experience in one or more ways that \"must have: they turn \"I want\" into \"I need\": except for Costco, which sells staple groceries, none of these companies sell what anyone really needs.
But through the combination of drooling
Valuable products, excellent merchandise sales, sensational effects, and pressure equivalent to peer pressure in target customers (
\"I must have what she has! \")
These companies are skilled in customer psychology.
The desire for discretion has become impossible. live-without need.
I might get into trouble here, but no woman needs another handbag.
If so, of course she doesn\'t need a $1,000 python handbag. But so-and-
So is carrying one. . .
Also, they will last forever, and really, you haven\'t given yourself a beautiful new bag for a long time.
All of a sudden, you need that bag.
Products and stores have caused emotional reactions, which are better than reason.
They are not afraid of high prices: instead, for almost all of these companies, high prices are a key part of the formula (
Costco is the most striking of one or two exceptions, but it does magic in other ways).
More expensive advice is better (
Even if it\'s not)
More exclusive (or elusive).
High price, access to various clubs.
Anyone can buy a polo shirt for $20, but one with a horse on it, just fold it up --
So, on a beautiful table, in a shop that smells good?
The situation is screaming and worth $85.
$85 shirt buy $20 shirt do not buy \"membership \".
The same goes for the $300 MP3 player, $100 yoga pants or anything in the iconic light blue box.
They use \"strategic scarcity\": it\'s hard
Knowing from an early age that one of the best ways to make someone want something is to tell him that he can\'t have it.
Many of these killer companies use this weapon, or in reality by controlling production (
Wait in line or you may not get it)
Or perception (
There\'s only one wallet in Heaven
In a small, sparsely populated compartment
Boutiques in stock).
The desire for fuel mania and support high prices. Luxury items --
Even some people are as extreme as the $2 million Bugatti Weilong supercar ---
At the worst of the economy, there is usually a waiting list for buyers.
Most of us are not on the market for this type of transport, but the same psychology applies when the latest video game console is expected to be sold out on the launch day.
High, of course-
When time is hard, the end is usually hit.
But in the long run, there is always the best market, or the one we think is the best. Me-
Too many companies come and go, but companies are synonymous with exclusivity, desire and demand --over-
Need is often the oldest and most enduring: Rolex since 1905;
Louis Vuitton since 1854;
Rolls-Royce since 1904.
In many ways, these companies and their strategies are flying in the face of traditional business wisdom.
They don\'t meet their needs, they don\'t solve the problem. -
Especially those companies that are usually linked to a bad economy.
They don\'t necessarily aim for as many viewers as possible.
With some exceptions, they don\'t even try to price at competitive prices.
What they do is trigger powerful, heartfelt emotions: each square foot offers the most exciting, eager, happy, desire, envy, and happiness. [
* It will be interesting to see if there are any changes
But Apple has a big lead. he knows the formula. jobs still has a say at that time --
Bet so early, they\'re fine. ]
Michael Hess is the founder and CEO of Skooba Design, an online retailer that designs and manufactures an award
Suitcase Series for laptops and other applications.
He also has a background in sales, marketing, and procurement for physical retailers.
Flickr pictures by nechbi, CC month. 0.
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