Why Children's Products are a Smart move for your store.
Ages ago, I reported that sales of products geared towards children appeared to be strong. Not only that, but the profit margins are also healthy. Additionally, I noticed that each sale of a children's product leads to more sales. Furthermore, as new lines are released often, there is a steady flow of repeat business. Plus, these products have high demand, are in need all year, and have good profit margins.
Today marketing children's products to their existing customers are essential for many of my clients to run their successful businesses.
The expected long-term growth rate of the Australian toys and games market is 2.87% during the forecast period (2020-2026). The increasing demand for toys, games and electronic gadgets among our population drives the toy and games market growth in Australia.
Can you go wrong with toys like Lego products, Faber-Castell pencils, Mattel, etc., here?
If you carry them, it is crucial to ensure that they know that you have these products by making them easy to find in your store so:
>Use in-store displays.
>Have a dedicated area for children's products.
>Promoting these products through Facebook can be very effective.
>Targeting people such as grandparents who come to your store.
>As these products have decent margins, you can consider special deals, discounts or promotions. Tailor these to your customers.
If you are not marketing these products to this demographic, consider re-evaluating your business strategy to focus on children's products as marketing children's products could mean taking advantage of a significant opportunity.
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