Liquor stores usually have loyal clientele who have come to trust your suggestions and maybe a little conversation as well. How do you expand from the customers you have currently to increase your revenues and profitability? Since there are competitors everywhere, what does your store do to stand out and encourage patronage? We have listed some simple suggestions which should help you differentiate your store from the rest. If you are in need of fast funding to aid in these strategies, consider a merchant cash advance. It is a simple way to get the cash you need without the hassles of a traditional bank loan.
Wine Tastings in Your Store
Encourage interaction between your customers and representatives from some of the labels you carry. This can be a great way to boost revenues on your best sellers and increase revenues on some of your weaker selling brands. Take the opportunity to establish yourself as a liquor connoisseur so that your customers will trust you when deciding to purchase your higher priced items. Hosting wine tastings will also likely introduce you to customers who would normally purchase wine from supermarkets which may have a lower price point. Once they are in your store and see your selection, use the opportunity to have a conversation and gain their purchasing loyalty.
Increase Your Inventory
When customers come in to purchase liquor, they should also find additional items which grab their attention on display. Purchase signage to re-direct them to shop more with catchy sayings. For example, if someone comes in to purchase a bottle of wine, they should also be offered a nice cheese which pairs well. Invest in an expert to come in and teach your sales staff so that your store becomes distinguished due to their knowledge. This helps gain market share against your competitors and sets you apart. Make sure that you have lots of gift/wine bags on display for purchasing near the checkout. Also, shot glasses and trendy glassware sets should give your liquor store another line of revenue to profit from.
Offer a Delivery Service
Check your state regulations regarding liquor delivery. This may be one of the most under-utilized services provided by liquor stores. Many customers who are planning on purchasing in bulk for a party or event will be running low on time. This presents an amazing marketing opportunity with which you can charge a delivery fee and increase store profitability. Simply have customers choose what they would like and pay for it online or by phone. Advertise your local delivery service emphasizing the convenience it provides and a minimum purchase amount and perhaps encourage a larger purchase.
Offer Classes in Drink Mixing
This is another great way to increase the presence of your liquor store among your community. You can advertise these classes in different magazines, online, on the back of your business card, or on flyers. Get people talking about your store. This also presents a great opportunity to let people taste the differences between top shelf liquors and lower-quality, cheaper brands that they may be used to. Give them a discount if they purchase a bottle of the top shelf liquor to take home with them after the class. You can also charge a fee for the class if you would like to. The key is to get people into your store and buying from your inventory for all of their liquor related purchases.
