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-Guitar Hero is all the rage for consumers.
-Need to take a break from searching for the latest gear during The NAMM Show? Here are some celebrity appearances and parties to check out.
-Attendance increased at Music China and Prolight + Sound, and Kenny G made a big splash.
-Improving next month's NAMM Show is like making the 1972 Miami Dolphins better. But NAMM is certainly not resting on its laurels.
-We reveal all of the manufacturer nominees for Music & Sound Awards to be handed out next month at The NAMM Show.
-Counterfeiting on MI products, particularly guitars, may have received minimal national press, but the problem is real and not going away.
-Find out how to sell products your customers are probably not looking to buy.
-M&SR features its second annual independent retailer roundtable. What's on dealer's mind's this year. Are things better than last year?
-Females playing musical instruments now outnumber males, according to a NAMM/Gallup survey.
-Industry leaders paved the way for the next 10 years.
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-The Latest, Industry, Dealers, People and Product Buzz and Showcases.
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-Dan Vedda shares every thought not appearing in his monthly column right here.
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-Robert Gault, president of Eminence Speaker, knows a massive amount about China and the pro audio industry. Enough said.
-To say Kurt Ballou, Converge's guitarist, doesn't treat guitars well is like saying the New England Patriots are a decent football team. Ballou had to find a guitar to take a pounding. Here's why he chose First Act's Sheena.
-The amazing story of how Gear Source Music reopened days after a flood took it apart. Spy ventured to the Pacific Northwest to the great city of Seattle. Five minutes with a great wealth of knowledge in the percussion industry, Remo Belli.
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-John Flansburgh, They Might Be Giants' John Flansburgh is a big fan of several independent dealers as well as a host of manufacturers.
-Matt Rubano, the bass player for the red-hot band Taking Back Sunday. Even better, he likes to shop for MI gear.
-Paul English, Willie Nelson has had four wives in 40 years, but only one drummer in that same time frame.
-John 5, When your name is a number, you must be cool. John 5, who played with Marilyn Manson and Rob Zombie, says idolizing Eddie Van Halen was a big mistake. How is that possible?
-Luke Pritchard may be “all together Kook-y,” but he has cool memories from the days he visited retail stores.
-Eddie Ojeda; Lead guitarist for Twisted Sister.
-Will Lee; Getting that gig isn’t easy and took a lot of blood, sweat, and tears.
-Imogen Heap writes songs, plays piano and the nail violin,Does she plan to design her own instrument?
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ACCESSORY TO A DIME
Accessories Can Make the Difference |
| By Brian Berk |
[November 2007 - Page 2] |
"Store employees should have access to a list of suggested accessories for each and every staple product in the store," said Wenzloff. "Ideally, they should have the lists memorized, but a simple typed list in a binder at the checkout counter is a great alternative. Have your store employees make their own lists and then sit down with everyone and compile 'final' lists. Store employees are also the best hope for educating the customer on the latest new accessories. Make sure when you order the latest new products that adequate training or training tools are provided."
"Though I am not a salesman, I have been told that by offering an accessory item for a discount with the purchase of an expensive item like a guitar or drum set can help seal the deal on the larger ticket items," added Rosenfeld. "Accessory margins are much greater than the more expensive gear, so to give a bigger discount on the smaller item keeps the overall profit margin higher. Also, I have been told that all consumers like to know that they are being treated special and by getting an item at a discount, even a small item, will help make the sale. Some stores will even include a small ticket item, like a bag of picks or strings, for free to help make the sale. By doing this you create loyalty with the customer. They won't need a $1,000 guitar or drum set in the near future, but they will need sticks, strings, picks, and accessories all year round. This is where the real money is made. Again, the accessories have the highest margin and when customers return to buy these items, the store is making a larger margin than on the big items. The beauty industry has proven this theory with all of its giveaways in the department stores. Women buy a lot more to get the free gift. They then return to buy all of their accessories."
Placement is Everything
OK, so you have a good idea about how to make that accessory sale. But if you can get a customer interested in a product before you say a word about it, that can't hurt, right? What do we mean? Product placement. Page mentioned that not all accessories are impulse buys and alluded to Rosenfeld's point about getting customers to return to the store. "If the accessory is a 'modular system' that adapts to gear changes, or is a consumable that is replaced from time to time, past customers will be drawn back to your store. PedalSnake is a modular system..and it has become a 'magnet' to draw folks back into your store.The magnet draw-back effect is especially valuable because, as we all know, someone who walks into a music store with the intent of buying one thing will usually walk out with some small-dollar items as well. So a good overall practice would be to make it well known (and visible) what modular system accessories you stock, which can be placed anywhere in the store. Then place the low-cost 'impulse buy' consumables near the front door, so they are passed coming in and going out."
"Accessories should always be part of a display, whether it be on the floor or on a wall," responded Lotts. "Merchandising is one of the most important aspects of the retail process. Consumers spend no more than two seconds making up their mind and certainly merchandising is the key decisive factor.hands down. Merchandising can be accomplished in a few ways, but in-store displays should always be: 1. Branded 2. Monitored and maintained daily. That maintenance process should have two functions: a. Ensure the product brand matches the brand of the display (logo). Unintentional mixing of brands occurs during the consumer's decision-making process and b. The display(s) is filled to ensure the consumer has the breadth of product offered, thus ensuring the manufacturer is properly represented. Certainly beyond the routine merchandising displays, locations such as entranceways, checkout area(s), and other high-traffic areas of the store should be utilized with accessories."
( continued, next page >> )
[ pages: 1 - 2 - 3 ]
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