A New Approach
Imagine being able to engage a customer as easily as you would your next-door neighbor, talking about the hobbies and activities he is interested in and sharing common knowledge of the same. Products—many which are rapidly approaching commoditization—are secondary to teaching customers how they can integrate their products seamlessly into their lifestyle, and bring them to life in ways that enhance their lifestyle even more.
According to CEA, 50 percent of accessory purchases take place within one month of product purchase, with only 15 percent being made at the same time. This could easily translate to anywhere from a 50-50 chance to a dismal 1 in 6 chance of the customer returning to your retail location to make the all-important (and high-margin) accessory purchase.
Creating a “lifestyle accessory” destination requires some tweaking of in-store and marketing tactics, but is not at all out of reach of even the most fledgling retailer. In fact, localization of in-store and marketing tactics puts the smaller retailer in an even stronger position than the national big-box chains.