Retailers need to consider any items in their inventory with expiration dates, and determine how quickly they should be sold or replenished. Generated with AI.


By Crystal Lengua

Accessories are more than just a way to make money (although they do play a role). Accessories can be used to enhance hot tubs and high-value products, bring customers into the store, promote repeat purchases, upsell, and offer gift options. Accessories play an important role in the pool and spa industries, since they include elements such as enjoyment, relaxation and family bonding. They also promote self-care and water maintenance, and provide gift options.

It may be difficult to decide what accessories to continue to sell or to choose from. However, you can use various tools, analyses, and data to help determine which products are best for your business and audience. In order to maximize sales, it is important to use existing sales data and ask questions about which products are best suited for customers, budgets, and stock. Cost is an obvious determining factor. However, it’s important to remember that a product mix may include items with higher costs but lower profits. Although these items may not generate substantial profits, they can draw attention to your store and facilitate the promotion of more profitable items.

In creating or forecasting sales plans, it is important to consider the big picture. It is not enough to have sellable products; inventory management must also be considered. Inadequate inventory management can negatively impact cash flow. Failure to keep up with industry trends, supply chain disruptions and customer buying habits may also lead to difficult situations. Avoid having obsolete inventory sitting around. Regular reviews can lead to duplicate inventory purchases, and proactive forecasting can lead to missing inventory.

When selecting inventory to stock, businesses can use the following methods:


Basics and point-of-sale items

Additions like these are a no-brainer. These include essentials like hot tub steps or cover lifters to indulgent items such as spa fragrances. Customers expect that a hot tub or pool store will carry these items, just as they do chemicals. This category includes handrails and umbrellas. These items are well-known for their steady sales, but also provide opportunities to upsell with expensive items like hot tubs and pools.

It is also important to think strategically about the items at the point of sale (POS). Store owners need to ask themselves what small inexpensive items they can place near the cashier in order to encourage quick sales. It is best to rotate these items frequently to keep customers interested and to encourage them to check out the “what’s-new” every time they buy. Customers may start to ignore products if the selection is static.


It may be difficult to decide what hot tub accessories you want to sell or continue to sell. However, there are many ways to use data, analysis, tools and other strategies in order to find out what is best for your business and audience. Photo courtesy Cambridge Pool Supplies.


Use internal data and analytics

The data that is available to individuals at their fingertips are vast. Inventory turnover rates can be calculated by dividing Days in Inventory (DSI) by the inventory value. This allows one to identify which items are best-sellers and those that perform poorly. This data-driven method is useful when making decisions on what to replenish or which items to put on sale in order to make room for new products. Sales forecasting has been a tried and true planning tool for years. It allows businesses to anticipate customer demand while minimising excess stock in the warehouse.

The post Strategically adding accessories to your inventory first appeared on Pool & Spa Marketing.

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest Article
Sponsor
Sponsor
Go Pool Pros Pool Marketing that Gets Results.
Keep Reading

Related Article

Meet the 702 Pros Family—Balancing Home and Business

  • Grow your brand with digital by 702 Pros
  • Listen to samples of the latest podcasts Tappods
  • Connect & manage B2B businesses with HoneyHat
  • Manage customers & projects with Pulsenest
  • Create online promotions in minutes with OnSago
  • Invest for equity in pre-market startups with Sparkmeta
  • Show what Matters to You with Mattersly
  • Find things to do in your city ThingsTDN
  • Hire contractors to build your dream pool with Pool Launch
  • Create & manage your brand links with Linkpeas
  • Locate & schedule local service providers with Provingo
  • Book workers for gigs in seconds with Workergram
  • Show your skills & build your portfolio with Scoutshift
© 2022 Splash Weekly is a pool news and idea platform. Further information is available upon request. All information covered within this website is proprietary and not meant for duplication in any way. Further information is available upon request. Splash Weekly is a 702 Pros Company. Visit our website sitemap for more information about content structing. The information on this website is general, and shouldn't be used to base any decisions on your life or work. Splash Weekly™ makes no representations or warranties as to accuracy, appropriateness, completeness, methods of working, results of operations or anything else. You use the site entirely at your own risk. Some links might lead you to content that is not accurate for the purpose(s) of which we linked. We cannot be responsible for any content you find in those pages. Web Design by Go Pool Pros.