My husband and I wandered into a furniture store yesterday, and a salesman met us near the door to ask if we were looking for anything in particular and to inform us about the current promotions and specials. One such sale the store had was on its complete sets.
Many furniture stores are well known for these package deals. Interested in a couch? They’ll show you a complete living room set, with a couch, loveseat, coffee table, two end tables, two lamps and a rug — all for only a couple hundred more than you would’ve spent on one piece. What about your bedroom? They have those, too, including a bedstead, a dresser, mirror and nightstand.
I don’t know how many people purchase those complete packages, but I would venture to guess that they work. That’s probably why so many furniture companies offer them.
Think of it from a consumer standpoint. If you’re already going to invest in a new bedstead, wouldn’t you want your whole room to be cohesive? Plus, if you’re buying a bedstead, you might even need a new nightstand because the new bedstead doesn’t have storage like your old one did, or maybe the new bedstead sits higher than your previous one, and your current nightstand isn’t the right height. Plus, you’re already shelling out a significant amount of money; what’s a little more?
So how can dealers do the same? Pretty easily. You could take any motorcycle on your floor and offer it with an accessory package featuring hot sellers for your area, perhaps a new exhaust, flashes of chrome, a battery charger, anything like that. Or offer a gear package that could include the bike, a jacket, a helmet and some boots. There are endless options. With your side-by-sides, accessorize a few and sell them as special packages — windshields, bumpers, new seats and mirrors could be great additions.
You don’t have to stop at sales, either. The PG&A department could create its own packages, as could service. And the packages don’t even have to be marked down to work, although a minor discount could help persuade a customer to go with the full package. One of the furniture store’s bedroom sets, for example, is priced only $30 under MSRP for less than a 4-percent discount.
I’ve already heard of some dealerships creating packages and having success with them, as $20,000 side-by-sides are leaving showroom floors at twice that price because they’re decked out with parts and accessories. And I’m sure other dealers are doing the same with other vehicle segments and in other departments.
It’s something to think about because if customers are in buying one thing from you, there’s a good chance you can sell them more before they even return for a subsequent visit.