The location you choose could make or break your business-expansion success.
Whether the ultimate goal is for your beauty retail business to occupy two stores or 200 stores, there are many considerations involved in expanding a retail business beyond one set of doors. Of utmost importance is choosing the best location. Availability of desirable space is an important opportunity and a benefit in today’s market that should not be taken lightly. Location, location, location—is key, say retail experts.
LOCATION IS FOREMOST
Marvy's No. 4 Omega Silver Handle Shave Brush is a professional-quality shaving brush. Its boar bristles help generate rich lather to moisten and protect the skin for a close shave. Handsome enough to be presented as a gift.
Retailers offer their tips for successfully editing beauty inventory.
A hit sitcom in the 1970s, Sanford and Son depicts the escapades of Fred Sanford and his adult son Lamont. In the opening credits, a sign above the Sanford’s work and home depicts a crucial aspect of the sitcom’s setting. It says: “Sanford and Son Salvage, We Buy and Sell Junk.”
So you think the biggest consumers of Internet beauty products are from the United States and Europe? Think again. The reality may surprise you.
Kline & Co. recently issued its Beauty Retailing Through Direct Sales in Emerging Markets 2011: Channel Analysis and Opportunities report. The report found that Internet beauty sales in China have grown nearly 200% since 2006 and are estimated to be worth nearly $8 billion at the retail sales level in 2011. This makes China the largest Internet beauty market in the world.
Knowing the distinctions between the baby boomers, Gen Xers and Millennials who shop your store impacts your bottom line.
Each of us is a product of our upbringing, the influencers in our lives, major cultural and political events of our generation and education, among other factors. What shapes us in our early years ultimately impacts who we are as adults—our preferences, personalities and general attitudes about the world. It also impacts who we are as consumers and how we make purchase decisions.
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