Tourism is big business. In fact, the World Travel & Tourism Council recently identified that one out of three jobs is related to tourism in top North American cities. Keeping this in mind, it’s easy to understand that tourism and spending go hand-in-hand. The catch, however, is identifying how you can capture tourist dollars despite the competition that is undoubtedly trying to do the same. To help? Consider the below tips.
Incorporate Name-Drop Merchandise into Your Inventory Strategy
Tourists aim to create memories and likewise, want to remember those moments once they have returned home and are back to reality. To help support them in these goals, merchants situated in tourist areas can benefit from stocking name-drop merchandise in their inventory assortment. As recently explained in an article from Retail Minded, “when customers visit your store, they are often doing so as part of an experience that has been thoughtfully planned and often budgeted for over quite some time. By offering them customized products with names incorporated into these items, buyers feel a stronger connection to want to make a purchase while also gaining a stronger sense of attachment to your unique destination. This is a winning combination for retailers looking to increase their daily sales.”
By choosing to invest in name-drop items, you are investing in your chance for stronger tourism sales success. To discover what name-drop items may be right for your unique business, explore the IGES Show, an annual trade event for retailers that cater specifically to tourist-based businesses.
Strengthen In-Store Merchandising to Trigger Tourist Sentiment
Shopping should be entertaining for customers, particularly when they are on vacation or visiting somewhere new as a tourist. To help accomplish a stronger experience of shopper-tainment for your consumers, consider how merchandising can help.
Through merchandising, retailers can deliver memorable, enjoyable experiences that help lead them to make a purchase. Having merchandising strategies in place that highlight name-drop items, new deliveries, customer favorites and strong-selling items will help to increase your overall sell-thru while also helping to strengthen the customer experience. Using signage strategically placed by these key areas and incorporating an easy-to-navigate store layout are among the best ways merchandising can help lead your customers to want to make a purchase. Strong displays that are engaging, informative and encourage interaction among the inventory and customers are also helpful when it comes to creating memorable store experiences through merchandising. Collectively, these efforts can support you in strengthening your tourism sales and overall store success.
Offer a Range of Price Points & Inventory Options
Understanding your customer is never an easy task, however, it becomes even more difficult when you factor in tourist shoppers. Since no two consumers are the same, it’s important to offer a variety of price points and inventory options when trying to cater to your tourist consumers. Offering items that are affordable and allow for quick, impulsive purchases is ideal, yet also offering items that may take more consideration yet have a higher markup and margin is also healthy for your business. The key here is offering assortment in price and inventory – helping to capture consumer dollars from all customers that may walk into your store.
Finally, as you consider how to best support your tourist customer, also consider where the best inventory can be discovered to create the right assortment for your store. The IGES Show – held annually in Tennessee – is a leader in the souvenir and gift category and has supported retailers in their buying journeys since 2001.
Author: Nicole Leinbach Reyhle, Retail Minded