Which Buying Option Should You Present First as a Retailer? | Retail Today With Bob Phibbs, the Retail Doctor - Flash Briefing

You know, if you're trying to close a sale, one of the hardest things is just presenting too many options. You know it yourself, if you get overwhelmed, suddenly work is what shopping feels like and you shut down. You're like, oh, I've seen too much. I just have to leave. I'll come back. Except you don't come back. You'll probably go to some other retailer who doesn't make it feel that way. What I want you to do today is to look at curating down your products to a good, better, and best. Because too many choices leads to your shoppers saying, "I'll have to think about it." That's a good lesson you can work on with your employees as well, is for them to understand, oh, this is a good, better, and best alternative to someone who needs, I don't know, a new raincoat.

How do we present that? We always start with the best because that's the one that is probably more expensive due to the materials. What does that do? It's lighter weight or it repels water better, whatever that's going to be. If someone can't afford that, then you say, "Oh, I also have this version, but we lose the convenience of the lightweight. It's going to be a heavier, it's going to be a heavier cloth." Then if they say, "Oh, that's too much," and then you get down to something basic and then you're not trying to make that sound the same as the more expensive one. You're just showing all the things that they've lost. That's so different than what most people who are untrained do. They start off with the cheapest one and the customer says, "Okay, that's good enough for me." The problem with that is the more expensive merchandise sit.

Today I want you to curate down to a good, better, and best and role play so that they, your crew, understands too many choices leads to, "I'll think about it." You know what the problem with that is? They don't buy it from you. If that happens enough, you're not in business again.

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