In our first installment of the Retail Results Series, we addressed the core question of: Why Retail? TLDR: done right, in-gym retail is both financially beneficial and provides great value to your members and coaches. The further you can extend your fitness influence the stronger and more dialed in your gym community will be.
In this second installment, the fitness retail experts at O2 Pure Hydration™ discuss How to Retail.
Whether you’re a retail veteran or a green recruit, there are always three key elements in evaluating your retail plan:
Below, we’ll cover each of these elements and provide specific, actionable guidance you can implement at your gym to address How to Retail.
Don’t underestimate the value of location and visibility in your retail plan - they’re the keys to the kingdom.
A highly engaging, attractive, can’t-miss retail location is the primary sales tool driving awareness and interest in successful gyms. Hide your retail and you won’t see any profit.
Don’t choose a POS for your POS, if you know what we mean. This is often a huge pain point for gym owners and a chokepoint that slows retail sales. Your sales process should be quick and easy, just like everything else in your gym - except maybe the workouts.
The big differentiator is whether you have a guided or self-serve checkout process. Guided in-person sales typically result in higher revenue, but self-serve is most common and we should keep our focus there.
Category and vendor selection is the fun part of any retail experience for you and your team. Your retail options should reflect the values of your brand and be embraced by your coaches and staff - nothing drives sales more than passion for what you sell.
The work, and the success, is ultimately in the details. Once you’re committed to retail, ensure you have a clear plan for visibility, sales process, and category/vendor selection to maximize your return and member satisfaction.
Next week in the Retail Results Series we’ll give you our best tips for Retail Optimization. We look forward to continuing this journey with you!
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Are you ready to get started with Wodify Core and learn more how the Online Sales Portal can help you sell more retail? Book a demo here!