Page 57 - Spring Into Markets
P. 57

  Guide 8 Allocating Space
     Your products
Products do not all sell at the same rate or even have a regular pattern across each week of the year. As the seasons change and the priorities of customers alter, so the sales rates of each product rises and falls.
In addition, different products generate a different amount of money (turnover) again very often influenced by the time of day, the weather, if a product is on promotion and the time of year.
In order to be able to make the best use of the available space that you have (i.e. your stall) you need to be able to identify how and why product sales levels change and to be in a position to change the space allocation and position of these products on the stall accordingly. By listing all of your products starting with those that generate the most sales through to those that generate the lowest, you will have some idea of which products are the most important to your business.
Ideally, you should create this list on a weekly basis, noting down anything that might have influenced the levels of sales, for example:
Cold snap on Tuesday — scarf sales increased unexpectedly Unexpected influx of tourists — sales of postcards increased Local Fair — overall increase in sales and number of customers.
By keeping an accurate record of ‘what and why’ you will be able to understand your sales patterns across each week, month and year on year.
   Guide 8 Allocating Space 57

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