10 Must-Know Tips For Selling Luxury Retail

There is selling common goods and services, and then there is selling luxury. You cannot make the same principles work in both categories because of the huge difference in clientele. There is a reason (apart from the quality of product) as to why only so few luxury brands have managed to last over a period of centuries. It is so because they know the trick to sell.

If you are looking to set up your own shop or franchise or join a retail outlet then you have found the right place to be at. We are going to talk about the ten things that you need to keep in mind if you want to sell luxury to a prospective (luxury) customer.

Make it about the customer
The first thing that you need to keep in mind is that a customer who walks into a luxury outlet is not looking for mere association with the brand but also needs something for themselves. You have to point out what the customer stands to gain by brand association.
A good pitch here would include details about the legacy, existing clientele and the image of the brand you are selling. You need to promote your brand not just as a brand but also as a lifestyle.
Do not ignore the value
Just because the client is ready to place the money, you cannot overlook the element of value that is associated with the product. Tell them about the things that command such a price. The unique constitution, the features, the benefits and the effort that went into making it.
Luxury items are generally handmade; they boast about not only the unique constitution but also effects like graceful aging of the product too. These are a part of the charm of the brand, the things that add value to the item on display.
Add-on features and suggestions should be relevant
Now, do not go overboard with the showmanship. You have to make sure that the features that you are talking about are relevant to the customer. Someone interested in a watch for a corporate occasion will not be interested to buy an Ocean Master.
Features, advantages, and benefits are there to every brand, and they help you move the merchandise too but only if they are of relevance to the customer. Not only what you sell, but you should also know who you are selling to.
Looks matter
How you look, how you present yourself, it makes an impression on the customer. You should not judge a book by its cover but that is exactly what happens when you start representing a brand. Being able to get the attention of the customer is important and looking like the job would help you get there.
The brand you are selling can help you with this; they generally give privileges to one of their own to buy or use merchandise at a lesser price or as part of their compensation package. See if you are able to land something good; if that doesn’t help, take a few grooming classes.
Set the expectations right
Do not have any situation in your mind as the default setting. You never know what the day is going to bring. Having a preset mindset, about it being miserable or magnificent, can backfire on your pitch. Walk-in with an open mind and welcome the day as it comes.
The point is, do not tap into a negative world of thoughts. You need to remain open and forthcoming in this line. Anything that does not go your way should not turn you on to a negative path. Every morning before you start the day, ask yourself, what are you focusing on today?
Do not over expect when you are selling
You have to know the conversion rate in your line of trade. It is going to be a major deciding factor in what you are able to make during a day. Over expecting is when you start wishing to turn every call you get into a sale.
That thing seldom happens. Most places, it is 3 or 4 calls per 10 that get converted and that is while taking an optimistic point of view. The more exclusive your brand is, the lesser will be the number of clients that you get to close.
Don’t dwell on past errors
Everybody makes mistakes. The point is to learn from them, not to dwell on them. If you are unable to move past a point of error in your past, then you are setting yourself up for an even massive one. You do stumble upon things that you wish you had said earlier but nothing can be done in hindsight. Make use of such experiences in the future to prepare your sales pitch.
Be on the same page as the customer
You have to know that you are there to serve the needs of the customer. Do not portray yourself as a fashion artist and start a discussion of what would look good and whatnot. Play the advisory and assisting role that you were selected for.
And if you are the seller, you have to know what the customers are looking for in the first place. You cannot operate outside the niche and blame the market for not responding kindly. Being on the same page as the customer helps you to understand what needs are to be met.
Do not judge
As we were talking about above, don’t judge a book by its covers. You never know who is going to walk into the store. Many a time, sellers had to content with crumbs where they could have hit gold. Do not try to judge which person is worth what offer; as we discussed before too, have an open mind.
Watch your words
Making a person feel good for the simple reason that they chose to walk into your shop should be the aim of your store. When you are kind with your words, you establish a bond with the person that goes beyond transactions. He or she is likely to return to your store and/or promote the good experience they had.

Such small gestures go a long way in building up the brand’s image. Do not make yourself feel good at someone else’s expense; it should be the other way round. Whether you are someone who people love to talk about or just an internet story, it’s entirely up to you.

10 Must-Know Tips For Selling Luxury Retail - CEOWORLD magazine (2024)