The Pet Shop sector is constantly evolving with the emergence of new products that meet all the needs of pets.
Knowing customers' needs and desires will help us manage our stock optimally and boost sales.
MOST DEMANDED PRODUCTS
The most demanded product in our industry is certainly food, as it is a basic need for consumption.
Since the first cookie produced in 1860 by James Sprat in the United States, made from wheat, vegetables and beef blood, there has been constant and dizzying progress in this industry.
Today the sector is greatly influenced by the humanization of pets, which has brought with it the evolution towards the production of more and more natural food with qualities similar to our own food.
The following products claimed by customers are awards, external antiparasitics, accessories and hygiene items (according to 80-87% of professionals). All of them are necessary (or recommended) for coexistence with the pet in today's society.
Toys and feeders are also important for 77% and 64% of stores respectively. Beds, booths and cages for 59%, carriers for 55% and hairdressers for 53%.
With today's extensive supply, proper stock management is essential to dispose of the necessary items at the lowest possible cost every time by increasing their turnover and ensuring adequate demand attention while minimizing maintenance costs.
We can classify the products among others, based on their duration (perishable, non-perishable and with an expiry date) and by the economic value they represent in relation to the total stock (ABC system).
AVERAGE MONTHLY CUSTOMER SPEND
Another aspect that every business owner should be aware of is the average monthly spend their customers are spending.
Nowadays with the large number of management software it is easy to be able to collect real information that helps to be better prepared to face any unforeseen and make better decisions taking into account (like any other business) seasonal swings.
In the table below we can see that almost eight out of ten professionals, says that their customers spend between 15 and 45 euros per month on specialized trade, 15% are left 45 euros per month and 6% less than 15.
To help the company grow we have three options:
- Increasing the number of customers
- Getting the average cost of customers to increase
- Dynamizing the frequency of purchase
Obviously it is easier to sell something to a customer who already knows us than to get a new one but no less important is to keep the existing customer with adequate loyalty strategies.
It is important to pay close attention to the added value we offer our customers both in products and services by continuously offering "extras" that differentiate us from the competition and make the customer prefer us.
Among these strategies, one that many employ is cross-selling. It consists of offering items or services that complement the product. For example, when buying a strap we can present bags to collect the feces, harnesses or rebugent straps to locate them in the park more easily or identifiers to hang from the strap. In this way we try to increase the customer's expense by providing added value and therefore improving our image.
We can also offer "premium" versions of the items, as there is a percentage of customers who by default prefer to purchase the most expensive version of a product or service.
Of course, if we offer services you have to try to sell products as well and vice versa. You have to be able to make service packages and products that help the customer get a better profit from both. For example, if we have a hairdresser, we can offer a photography service at the end of the arrangement and offer products to keep the mantle in optimal condition.
Or if we have interactive toys for sale, we could offer game advisory services to new owners to make optimal use.
All of these strategies can help us increase average customer spending.