Doing Retail Right Retail Furniture Tip #4 From Bill & Lou: What Is Your Perceived Value Index?
Furniture Industry News Update -
Furniture World Magazine
“You can’t touch or feel or see perceived value,
yet it affects our actions more than we’d like to admit.” - Rory Sutherland.
This is the fourth in a series or excerpts from a new book by retail furniture store design and planning experts Lou Kief and Bill Walls titled, "Doing Retail Right", a new book available from the major online booksellers in print and e-reader formats. For more information on this book, or to order, visit www.DoingRetailRight.com.
Consider a beautiful bench with carved wood accents and a tapestry print seat.
Now, picture it all by itself with pin-spot lighting, against a rich, solid, earth tone wall. Now take that same bench and move it into your warehouse. Shove it up against all the other products without regard for space or lighting. Which type of display makes the bench look more valuable?
Products piled on top of themselves in cluttered, dark stores immediately lose VALUE in the shopper’s eyes. When you hear, less sells more; this is what they are talking about.
Too many retailers believe that everything they have in the warehouse needs to be on the floor regardless how crowded the showroom becomes. By doing this, they dramatically lower the perceived value of what they are selling, making their prices seem too high.
By displaying products in attractive groupings and allowing enough space around them, the price looks competitive or even like a bargain.
Less can sell more!
Focus your attention on grouping, display
and lighting and everything you sell will
look like a value.
About The Authors: Lou
Kief & Bill Walls live in Guadalajara, Mexico after a forty year
career helping retailers create successful stores. They share their home
with Katrina,a huge, not very lady-like, Neapolitan Mastiff, three
Mexi-cats; Diego, Frida & Trotsky, and Rocco, a pushy Amazon Parrot.
building and remodeling over 3 acres of retail space with Lou Kief and
Bill Walls I heartily recommend their professionalism, expertise,
integrity and creativity! I would invite anyone looking to improve sales
performance or their store’s professional appearance to read their
book; “Doing Retail Right!” -George Moore, COO, Wilcox Furniture, Corpus
“You have given RETAIL a BREATH! I am overwhelmed by the scope, the
simplicity and the heartfelt delivery.” - Steve Drake, The Villages,
“Retail ideas combined with Life Lessons. I read it as a call to action
for veteran retailers who are facing a crossroads.” - Pat West, West
Furniture World Magazine-Business solutions for furniture retailers