What’s the soundtrack to your sales success? We’re curious – what tunes are getting your customers in the mood to buy?
This week, we’re diving into how the right in-store music could boost your sales by up to 37% (yes, really!) and why Havenly is making bold moves into brick-and-mortar while others hesitate during these economic headwinds.
And don’t forget – our Q1 Benchmark Report is ready for download! See exactly how your numbers stack up against industry leaders and spot your next growth opportunities. Grab it today!
Today’s Rundown
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JUST RELEASED: Download the Q1 2024 Home Furnishing Benchmark Report and see how your store compares to the industry average.
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Productivity Games: Sell more add ons with Touchdown!
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Consumer Behavior: New reports finds the average US household shops 39 retailers each year.
Market Pulse: This Week in Furniture & Mattress
Furniture
Mattress
Does Playing Music Increase Sales? The Power Of Music In Retail
Looking to boost sales? Music might be your secret weapon, according to a recent survey from Soundtrack that found 91% of business leaders believe “music can make or break the customer experience.” Ola Sars, Soundtrack’s founder and CEO who previously co-founded Beats Music and launched Spotify for Business, has impressive credentials in the music industry. His company now serves over 80,000 businesses across 74 countries with a catalog of over 100 million tracks.
The right soundtrack can significantly impact customer behavior and sales. Studies show that brand-fit music (aligned with your brand identity and values) can increase sales by 37% compared to random selections, and customers spend 42% more time in stores with music playing. Music tempo matters too—faster tempos make shoppers move quicker through the store, while slower rhythms encourage lingering and potentially higher sales.
Additionally, using commercially licensed music is crucial, as 49% of business leaders don’t fully understand music licensing requirements, and using personal streaming services in commercial settings is illegal. For a cohesive customer experience, especially across multiple locations, retailers should develop a consistent music strategy that reinforces their brand image while considering their target demographic’s preferences.
Productivity Games: TOUCHDOWN! RETAIL FIELD GOAL
Ready to energize your sales floor during football season? “Touchdown!” is an exciting team competition that transforms your store into a gridiron of retail achievement, where hourly sales goals become the path to victory and championship glory!
HOW TO SET UP: Create a football-themed scoreboard with team names and hourly goals prominently displayed. Divide your sales staff into two equal teams and assign each team distinct colors or names. Prepare penalty flags (yellow cloths) for the store manager to throw when returns occur. Set up a decorative area with football props like helmets, jerseys, and football posters to enhance the game atmosphere and customer engagement.
HOW THE GAME WORKS: Both teams compete to meet hourly sales goals throughout the game day. When a team reaches their hourly target, they score six points – a touchdown! If they exceed their goal by a predetermined amount, they earn an extra point for a total of seven points. If a team member makes a single sale that equals the team’s entire hourly goal, their team automatically scores a touchdown (seven points) and that hour of play ends. However, when a team processes a merchandise return, the referee (store manager) blows a whistle and throws a penalty flag, preventing that team from scoring any points until the beginning of the next hour.
Tip for Store Managers: This game works especially well during football season or around the Super Bowl in late January. Have the store manager dress as a referee with a black and white striped shirt and use the whistle with humor when assessing penalties. At the end of each hour, total the gross sales for all team members and post scores on the game scoreboard. The competitive structure creates sustained excitement with achievable short-term goals, while building camaraderie among team members working toward winning the day’s competition.
Havenly’s Bold Brick-and-Mortar Expansion
Despite current economic challenges in the home furnishings industry, Havenly is boldly expanding its brick-and-mortar presence. CEO Lee Mayer recently opened a second store for The Citizenry, their artisan-driven furnishings brand, in Dallas—strategically positioning themselves ahead of anticipated market rebounds. As Mayer explains, they’re taking “a measured approach to leaning into the market” with plans for store refreshes and potential expansions across all Havenly brands this year, even as the housing slowdown continues to impact furniture sales.
This physical retail strategy makes sense considering brick-and-mortar still accounts for nearly 83% of all purchases, according to eMarketer. For premium brands like The Citizenry, in-store experiences allow customers to physically interact with high-quality products before making investment purchases. Beyond the “touch and feel” advantage, physical stores boost brand awareness, create opportunities for experiential marketing, and lift online sales in surrounding markets.
As Mayer puts it, the key challenge is “to inspire people to take action” in today’s cautious spending environment, finding “creative ways to have you remember that you should buy something lovely for your home.”
Click here to read the full article about Havenly’s retail strategy amid market challenges.
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The post Turn Up the Music, Turn Up Your Sales appeared first on Trakwell.ai.
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