Smart Selling in a Price-Driven Market
Plunging flat-panel television prices have changed retail merchandising more than any other event in the last year, forcing many retailers to play the pricing game. But with pain comes inspiration, which has taken the form of innovative merchandising strategies that showcase retailers’ expertise and customer service to differentiate them from the competition.
The variety of initiatives comes in all shapes and sizes. Just ask Steve Caldero, senior vice president and COO of the 10-store, Hawthorne, Calif.-based Ken Crane’s Big Screen Headquarters. For years the company relied on newspaper and radio advertising but has recently shifted strategies. Stats showed newspaper readership down, and an adjustment was needed, Caldero said.
The company enrolled in the L.A. Times’ “we-print” program, whereby the paper prints wraparounds on the Saturday and Sunday paper. “The exposure and recognition we’ve gotten from that has been phenomenal; it really placed us on the map on Sunday, when there’s a higher readership and people have more time to look at the paper,” Caldero said. “Friday ads versus Sunday ads weren’t as effective; this way, we get double exposure.”