Tips for Pricing & Displaying Your Products

Takeaways

Profits are not the only measure of success and you’ll want to pricing based on your goals:

• Goal = Revenue
  • Price using the “Keystone” strategy, essentially doubling your costs
• Goal = Brand Awareness
  • Price to cover your costs + 5-10%
• Enhance the Customer Experience
  • Price to cover your costs

Get creative with your displays and incorporate them into the decor

• Even small curios can work, but it’s important to keep them open and inviting for people to browse.
• If you have the space, bigger is generally better with ample inventory on the shelf.
• By the time they check out, guests should have had multiple opportunities to see or experience your retail products during their stay.