I realized really quickly that if my foot traffic was LOW, I needed to get my price per ticket UP. So put a spin on whatever circumstance you are in and become a destination. Offering specialty, rare, or limited items is key. It gives your clients a reason to come to you! I remember learning in college that, as a general rule of thumb in business, approximately 70% of your sales come from 30% of your clients. i have found this to be true! as a small business -- i realized it was key for me to be something extremely precious and special to a few people, rather than trying to be something to everyone. that's not a solid way to build a brand or a client base. why should people shop with you? what if someone opened next door to you offering the same product mix -- why would your clients keep shopping with you? What if someone in a better location had comparable products -- why would your clients stick with you? these are questions I'm always asking myself in order to remain sharp, distinct, and on my game!!
I opened up in 2003 selling local designers wares on consignment, and now, four years later, I travel to Paris and NY to attend Fashion Week where I buy from some of the most coveted and exclusive lines in the world.
I became distinct! I keep my quantities limited in order to create a sense of urgency! I became special!