The motor factor landscape continues to evolve with the discerning modern customer . VITAL NEWS investigates how adding a retail presence can help the business .
FORMULA FOR SUCCESS
Recognising that each motor factor has challenges and opportunities that are unique to them , FPS representatives are able to prescribe a tailored suite of products that best suit the motor factor . This is especially important as success is not about stocking all the products available in the aftermarket , it is about stocking the correct products for the customer .
Turn to page 19 for ideals on how to integrate leisure accessories into your stock portfolio by Royal At home out there .
Therefore , to ensure sustainable progress , FPS representatives provide complete clarity with the use of itemised spreadsheets loaded with stocking suggestions , number of SKU ’ s on the bay and strategic pricing suggestions . From strategising a simple shelf display using planograms to a complete shop uplift , FPS can help modernise motor factor premises and counsel them through the growth of their business .
So , what ’ s next ?
FPS customers who use the F : Drive will notice that there are many items that are not specifically linked to automotive customers . Items like office supplies , catering amenities and leisure products actually have very strong cross-selling opportunities .
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Many motor factors already stock traditional travel and touring |
RE-FIT STORE TO AGREED PROPOSAL |
REVIEW CURRENT STOCK HOLDING & SALES DATA |
ASSESS STORE LAYOUT |
products such as roof bars , warning triangles , personal protective equipment ( PPE ) and bike racks . As a result , many will find value in stocking other leisure products such as camping and caravanning accessories . This is a sound strategy as reports |
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indicate that Britain continues to see an uplift in ‘ staycations ’. |
DESIGN PLANOGRAMS BASED ON RECOMMENDATIONS
CREATE STOCK RECOMMENDATIONS BASED ON STORE SIZE & LAYOUT
STRATEGIC STOCKING SUCCESS
Many who have tested the waters of a retail arm began by stocking fast moving consumables such as of car care , maintenance , accessories and styling products . The synergy of these products with existing trade offerings allowed the motor factor to enjoy better profit margins by link selling .
IT ALL STARTS WITH A QUESTION
Motor factors who are interested in exploring adding or enhancing a retail arm to their business are advised to speak with their local FPS representatives . Like many things in business , there isn ’ t a one size fits all solution . With careful planning based out of the ordering track record , an FPS representative is able to help prescribe the best way forward .
For more information , please speak to your local FPS representative today .
VITAL NEWS ISSUE 50 RETAIL OPPORTUNITIES 11