Merchandising Your Front-End For More Sales – Monthly Mastermind September 2024
Michael Sheck
DM Merchandising
247dm.com
msheck@dmmerch.com
630-782-2700 x256
Summary
Lisa Faast and Michael Sheck discussed the importance of merchandising in pharmacies, emphasizing the need to maximize revenue during the busy season of cough, cold, flu, and COVID. They highlighted DM’s merchandising solutions, which offer low-cost, high-margin products with next-day shipping. Michael showcased DM’s range of products, including light-up tweezers, loungewear, and reading glasses, noting their ease of merchandising and minimal order quantities. He also stressed the importance of colorful, well-lit displays and suggested reordering seasonal items frequently. Lisa encouraged pharmacies to leverage their increased foot traffic to boost front-end sales and offered support through DM’s customer service and product selection advice.
Action Items
- [ ] Reach out to Michael Sheck at DM Merchandising to discuss product offerings and get personalized recommendations for your pharmacy.
- [ ] Review your pharmacy’s front-end and consider rearranging or updating the product mix, especially for upcoming seasonal items like Halloween, Thanksgiving, and Christmas/winter.
- [ ] Leverage your staff to help manage and maintain an engaging front-end display, potentially offering bonuses or incentives to drive increased OTC sales.
Outline
Starting the Monthly Mastermind Call
- Lisa Faast apologizes for the delay and mentions fixing an issue with Zoom.
- Lisa introduces the theme of the meeting: diversifying revenue through merchandising.
- Lisa highlights the importance of merchandising during the cough, cold, flu, and COVID season.
- Lisa introduces the guest, Michael Sheck from DM, who will discuss merchandising tips and products.
Introduction of Michael Sheck and DM Merchandising
- Michael Sheck introduces himself and DM Merchandising, emphasizing their 35-year experience in the industry.
- Michael explains the importance of merchandising for retailers, focusing on adding value to consumer purchases.
- He mentions the ease of merchandising with DM products, including PDQ displays and simple, colorful packaging.
- Michael showcases the Lemon Lavender line, highlighting products like light-up tweezers and simple pricing strategies.
Product Showcase and Merchandising Tips
- Michael demonstrates the Lemon Lavender line, including light-up tweezers and other products.
- He explains the importance of colorful and easily understandable packaging for quick consumer decisions.
- Michael showcases other product lines, such as loungewear, pill boxes, and reading glasses, emphasizing their ease of merchandising.
- He highlights the importance of having products that are easy to understand and require minimal explanation from staff.
Strategies for Increasing Foot Traffic and Sales
- Lisa Faast discusses strategies for increasing foot traffic and sales during high-traffic periods like Halloween, Thanksgiving, and Christmas.
- Michael suggests vertical merchandising and colorful displays to capture consumer attention quickly.
- He emphasizes the importance of having products that are easy to understand and require minimal explanation from staff.
- Michael advises reordering seasonal items in small quantities to avoid overstocking and ensure freshness.
Impulse Purchases and Pricing Strategies
- Michael discusses the importance of impulse purchases and the pricing strategies that encourage them.
- He explains the concept of “fast nickels and slow dimes,” emphasizing the value of turning merchandise quickly.
- Michael suggests keeping prices low to encourage impulse purchases and avoid buyer’s remorse.
- He advises pharmacies to change their product mix every five to six months to keep the store looking fresh and new.
Support and Assistance from DM Merchandising
- Michael explains the support DM Merchandising offers, including a full staff with extensive tenure to help pharmacies select the right products.
- He emphasizes the importance of building relationships with customers to ensure reorders and successful product placements.
- Michael highlights the flexibility of ordering, including the ability to order small quantities and reorder as needed.
- He mentions the ease of accessing products on the DM website and the various ways to place orders, including handwritten notes and faxes.
Q&A Session and Additional Tips
- Scott Smith asks about targeting children with products, and Michael confirms the importance of catering to kids.
- Scott also inquires about the lighting in DM’s showroom, and Michael explains the use of bright LED track lighting.
- Lisa Faast shares her experience with changing light bulbs in pharmacies to improve the atmosphere and sales.
- Michael discusses the variety of styles in reading glasses and the importance of having a wide range to appeal to different customers.
Conclusion and Final Remarks
Lisa Faast thanks Michael for his presentation and encourages members to reach out with any questions or for further assistance.
Lisa Faast emphasizes the importance of leveraging the upcoming holiday season to increase front-end sales.
She encourages pharmacies to take advantage of DM’s products and support to boost revenue.
Michael Sheck wishes everyone a great holiday season and reminds them to make their pharmacies a destination for holiday shopping.