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Retail Management for Spas: Chapter 1.3 Retail Partnerships

March 21, 2017

When it comes to retail, there are a lot of players who contribute to making it a success. There are partners, such as the media, financial institutions, local businesses, and charitable organizations, all of which can also help a spa business grow and succeed.

Selecting and Managing Your Retail Inventory

June 16, 2017

Managing one’s retail inventory is a critical part to a spa’s profitability. “Making good inventory decisions should always be based on demand and sales history,” says Linda Mahramnia, retail buyer at Spa Gregorie’s located in Newport Beach, California. “I firmly believe in a product life cycle, like a bell curve. You have to know when to buy, when to maximize and when to decrease product [orders].”

Tell a Story with Boutique Brands

March 26, 2021

Consumers want great stories. They want a story they can believe—something they can grasp, invest and hold stake in. It is a spa professional’s responsibility, then, to define and tell a great story in the context of their spa. Great stories command attention, and when you can gain your consumer’s attention, their dollar is not far behind.

Think Local

March 26, 2021

As spa directors continually search for ways to create authentic experiences for their guests while also increasing revenue, many have decided the best way to do that is by tapping into local resources. Businesses need revenue-boosting partnerships to succeed, and spa directors have decided that looking at local resources does that and also distinguishes them from their competitors.

Upsell Tactics

March 31, 2017

Upselling, the act of encouraging customers to buy more or better products, might sometimes be considered retail’s guerrilla tactic. In fact, it is something that everyone in retail should embrace, teach and encourage.

Utilizing Space Effectively in Retail Merchandising

June 15, 2017

Gina Jacoby-Clements shares her top tips on how to utilize spa space effectively and visually in Retail Merchandising.

Yielding: A Reopening Win-Win

March 16, 2021

In its most traditional sense, yield management is a variable pricing strategy based on understanding, anticipating and influencing consumer behavior in order to maximize revenue or profits from a fixed, time-limited resource (such as airline seats or hotel room reservations—or spa services). As a specific, inventory-focused branch of revenue management, yield management involves strategic control of inventory to sell the right product to the right customer at the right time for the right price. This has worked for airlines and the hotel and hospitality industries for years.

 

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