This photo shows kids loving the kinetic sand we have in front of the newsagency this week. Attract kids and you attract parents and grandparents – perfect for during school holidays.
Not only is the sand selling out but those attracted to it are purchasing other items in-store.
This is the value of a popular product, a product that generates net new traffic that often browses and spends.
The sand is part of a well thought through traffic generating strategy. It is performing well above expectations in terms of return on floor space, return on labour and return on inventory investment. It is working well with and for Easter products.
It is this success I think of when I compare being a retailer to being an agent. Success at traffic generation and success at selling an item with a GP of greater than 50% and powerful basket build factor. Attracting people to things they purchase rather than services they use is more beneficial for the business.
While it is hard work finding items as successful as the sand, the payoff when it works is well worth it. Plus – the success helps inform future buying decisions.
Sand is a great example of why it pays to go to the gift fairs. I had seen the You Tube 6 months prior to the gift fair this year but hadn’t bothered. Once we went to the fair and played with the product we ordered as we found ourselves walking back past it just to touch. Being able to see and touch products saves dollars compared to trying products that don’t meet my quality expectations. Sand has already well and truly paid for our trip to Sydney this year.