Is Your Attitude Towards Your Product Hurting Your Retail Sales? | Retail Today With Bob Phibbs, the Retail Doctor - Flash Briefing

Are you or your employees selling from their own wallets? What do I mean by that? Well, you know, when I was in Denver not that long ago and I was walking down the street, and I saw this sign that said, "Men who use this, report thicker hair," and I said, "I want that." So I walked into the salon and there's a young woman right there. I go, "I want that." And she goes, "It's really expensive." And I said, "Do I look homeless or something? Why did you say that?" She goes, "Well, I just want you to know it's really expensive."

I'm still scratching my head, thinking, "Why is this the first thing that this young woman says to me?" This woman comes down and she goes, "Can I help you with something?" I said, "Yeah, I wanted to buy this and all she could say was the cost of it." And the woman, without breaking a beat, said, "Well, she just wants you to know it's really expensive. We don't sell a lot because a lot of people think it's so expensive." I couldn't believe it.

I use that story a lot in my keynote speeches, and if you want to find out more about me, you can go to retaildoc.come, but that's a classic example of trying to sell from someone who doesn't believe it's worth the money. She wasn't bald or balding like an older guy like I am, so she didn't see the value of it. And the problem with that is when your employees are selling from their own wallets, they're essentially trying to sell from the bottom up. Like, "This is all you need. This will do just as well," and the problem with that is, they never get a chance to say, "Oh, we also have this one what makes it easier," or, "We have this which is more convenient." The customer, of course, says, "Oh, well then I'll take it."

And the employee feels they did the job, the problem is your premium merch sits. So I don't want that for you today, so take a look at your own attitude about your products, and especially your employees'.

If you love what you heard on Retail Today, connect with Bob by visiting retaildoc.com or send a message to bob@retaildoc.com. Thanks for listening!