Selling Luxury Products
in a Dogs World
by: Hedy Woodrow
One of the
fastest growing industries in the United
States today is the pet industry. The
industry as a whole has increased 20% over
the past 5 years and is projected continued
growth in the upcoming years. Over the past
10 years, the pet industry has grown to a
$34 billion dollar industry. This exceeds
what we spend on candy and toys. The candy
industry has become a $25 billion dollar
industry while the toys are a $20 billion
dollar industry.
Pet owners are
now professional couples who are opting for
pets versus children, retired couples and
empty nesters. All with disposable income to
spend on their furry little friend.
The fastest
growing category with the most opportunity
for growth is luxury for pets. After all,
now we can get a massage for our pets, an
aromatherapy spa treatment, doggy day care
is a must in the city and you can even have
them picked up by a Rolls Royce to take them
for their weekly manicure pawdicure. Even
luxury hotels are now offering special menus
for our furry companions.
For pet
retailers, it is important to understand
what the expectations are of the luxury
client. Who is the luxury client and what is
it that they have come to expect?
The luxury
client shops at Chanel, Gucci, Luis Vuitton,
Prada and Neiman Marcus to name a few. She
stays in 4 and 5 star hotels. She eats at
the finest restaurants. She wears designer
and she shops designer boutiques because of
the experience. She is not price resistent.
So what is the experience that she expects
you ask?
1. Know her
name when she enters the store. Make sure
that you and your staff know and understand
her lifestyle. She expects service and
expects to be waited on.
2. The luxury
client expects to work with knowledgable
fashion oriented sales associates that
understand how to sell a luxury product and
are knowledgable in features, advantages and
benefits. These sales associates also have
an appreciation for luxury items and often
purchase for themselves. Associates such as
these are seen as credible sources to these
clients.
3. Luxury is
about an experience. The experience takes
them away from their everyday world. The
experience may include a glass of champagne
or wine, cheese and crackers or tea and
scones. A beautiful scent and soothing music
as they enter into the environment helps to
enhance the experience.
4.
Merchandising a luxury product involves a
clean presentation of the merchandise that
is dust free and featured beautifully in the
boutique. Lighting that highlights the
product is critical to enhancing the
shopping experience.
5. Follow
through and communication with the client is
paramount. This would include a thank you
note after she purchases or stops by the
store. Calling her when new product arrives.
Calling her on her birthday, knowing
important events in her life such as her
anniversary, knowing the name of her husband
and children. All are about the personal
attention and care that you and your team
provide.
Most
importantly, understand what designer
products mean in the pet world. A handbag
pet carrier for example should have an
average price point of $600.00+.
www.designerpaws.com features carriers
made of 100% Italian leather and are
handmade. In pet clothing, an average price
point of over $150.00, and pet beds should
be at an average price point of over
$400.00. Too many vendors are promoting
designer products which in reality are poor
in quality and construction and are priced
well below a designer price point. Be
cautious of what you carry in your store
that is featured as designer as this can
very well turn away the client that you are
looking to attract. Most importantly, staff
your store with people that understand how
to attract, sell and grow a luxury client
base.
