Powering Up Profits: Strategies for Q4


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Powering Up Profits: Strategies for Q4

  1. 1. 11/28/2011Powering Up Profits:Strategies for Q4Your PresenterWynne Business provides consulting and education, includinglive seminars and on-site team trainings, for the spa and salonindustry• Lisa M. Starr – 20+ years experience in salon & spa industry – Senior Consultant, Wynne Business – Community Ambassador, Gramercy One – Consultant, educator, writer, presenter “Good luck happens when preparedness meets opportunity” Bret Harte 1
  2. 2. 11/28/2011Statistics on Q4• 75% of annual retail sales are made in Q4 (National Retail Federation)• Spas often create between 50-70% of their annual gift card volume• Q4 typically highest for spa and salon service sales• Forecast is for 3% growth• 41% of consumers plan to spend less than last year4 Areas of Focus• Optimizing Sales• Staffing Concerns• Marketing Program• Logistical PlanningOptimizingSales 2
  3. 3. 11/28/2011Service Sales• Seasonal menu enhancements• Upsell opportunities• Menu inserts• Spa journeys• NO DISCOUNTS! – Focus on valueRetailing Considerations• Product mix• Gross margin• Categories – Giftable – Personal• Your brand message• Specialty categoriesVisual Merchandising• Outside in• Sensory ambiance – Holiday visuals & color, scents, music• Lifestyle groupings• Function groupings• Connect the dots for clients 3
  4. 4. 11/28/2011Merchandising Tips• Minimum 6 of a product• Soldier lineups• Tables, risers• Lighting• Grab ‘n’ go – Selection of boxed and/or wrapped items• PropsGift Baskets• Pre-made• Custom• Array of price points• Include gift card – Feels more personalGift Cards• Holiday GWP & PWP• Gift Card Presentation – Box, envelope, bow – Service menu• Database building• Virtual option 4
  5. 5. 11/28/2011 Staffing ConcernsCustomer Service & Support• Identify holes in schedule• Service Sales Support – Heavier appointment load – More 1st timers• Front Desk Support – More SHOPPERS; need to think like a retailer• Gift Card SalesTechnicians & Therapists• Look at schedule by ROOM or STATION, not by person• No shifts in the middle of the day• Identify spots for newcomers• Sub-list is a great way to hire 5
  6. 6. 11/28/2011 Tuesday 10/6 Wed 9/8 Thurs 9/8 Fri 9/6 Sat 9/6 Sun 10/5 Sally 10-3 Sally 9-2Massage 1 Paula 3-6 Brad 2-5, Pat 5-8Massage 2Massage 3 Glenna 9-4Facial 1 Glenna 10-6 Jody 4-8Facial 2Facial 3Mani 1 Joanne 10-6 Hannah 9-5Mani 2 Joanna 9-2Pedi 1 Hannah 10-6 Michelle 2-8Pedi 2 Hiring Temporary Help • Craigslist Ad • Sign on front desk • Orientation to company • Uniforms • Training & Mentoring 6
  7. 7. 11/28/2011Sales Management• Training on retailing/sales – Clients shop with a list of people, not by product – Open-ended questions • “Who are you shopping for?”• Daily & weekly sales goals in each category• Smile!!!!MarketingPlanSeasonal Concerns• Sales per square foot• Black Friday• Small Business Saturday• Cyber Monday• 40% of consumers will start shopping before Halloween (NRF)• Early Planning + Tighter Budgets 7
  8. 8. 11/28/2011Marketing Options• External • Internal – Radio – E-blasts – Community Papers – Social Media – Holiday Fairs – Contests – Mall Kiosks – Signage – Direct Mail – Print adsSocial Media Management• Create a posting calendar• HootSuite, TweetDeck, BuddyMedia• Assign duties and delegate!• Create a contest for clientsDon’t forget:• Social consumerism – Donations – Charity benefits – Events – Community involvement• Power of Groups – Team up with businesses that also cater to your client 8
  9. 9. 11/28/2011Provide VALUE• It’s NOT all about the discount• Help customers cross items off of their list• Provide solutions, suggestionsMake it Fun!• Celebrate the holidays – Staff uniforms – Hand out candy canes/holiday treats – Free samples• Product of the Day• Sell convenience! Logistical Planning 9
  10. 10. 11/28/2011Holiday-related• Holiday hours? – Nights, Sundays – Christmas Eve• Hours, Directions, Phone on homepage• Holiday partyStreamline Processes• Separate check-in and check-out – Podiums – Mobile• Gift card lines – Clipboards & paperwork• Gift wrap & pre- packageInventory Management• Regular retail stock• Holiday stock• Bags, bows, tissue – DO NOT RUN OUT!• Gift basket supplies• Gift card packaging 10
  11. 11. 11/28/2011Compensation Concerns• Holiday Pay• Retail commission for support staff• Commission for temp help• Internal contests and rewards – Gift cards & prizes Powering Up Profits Thanks for your attention! Questions? Lisa Starr at gotalkone@gmail.com Gramercyone.com/blog Facebook.com/GramercyOne 11