Taking advantage of the cost-free help available can also give you a leg up on the competition.
“Manufacturers and their reps can help with sales training for store employees, either on-site, online or during face-to-face meetings on the trade show circuit. I’m also a firm believer in a healthy marketing mix, so advertising, especially co-op opportunities if they’re available, are great. That, combined with a brands’ earned media efforts around the products you carry, is something the top brands out there invest in. It helps build awareness to start with, and as consumers move further down the purchase funnel it can eventually translate to sales.”
May also has some tips on inventory management: “Personally, I favor diving deeper with fewer brands. You don’t have to limit the SKUs you carry this way; rather, offer a wider array of product from the brands carried.”
Need another reason to boost sales with hot new knives and older proven sellers? How about markups ranging from 25–50% to sweeten your bottom line? If you’re not on the cutlery train yet, now is a great time to hop on with selection and profits at an all-time high.