UPSELLING

One of the most common issues that luxury brands ask us to help them with is increasing their average price and the development of their high-ticket sales.

What if we told you that selling a $50.000 watch takes as much effort as selling a $5.000 watch? What if we told you that it is easier to sell a $100.000 luxury car than a $20.000 car? That would surprise you and go against conventional beliefs but for us, it’s true.

The clients you target when you sell these high-end items are not focused on price but on value. These clients understand the value of high-quality products and services.

Surprisingly, price resistance often has nothing to do with the clients but comes from the sales advisors themselves. Some of them think: “If I am not willing to pay this price, no one else will either” or “I cannot afford this, no one else can”.

We often say : “If you are afraid to buy, you will be afraid to sell”. Sales advisors need to understand that it is not their money they are spending. 

Clients can see and feel if you are uncomfortable at selling and displaying high-priced items. If a sales advisor hesitates, mumbles when she/he tells the price or stumbles over her/his own price because she/he thinks she/he would not pay as much, so why should her/his customer?

If you target the right clients, prices become elastic and when you offer them great experiences, your clients are willing to pay more for items. Most clients are ready to pay a premium price for a premium experience; only few buy on price alone.

Here we share a few tips for you on how to increase your high tickets sales.

IMMERSE YOURSELF IN A LUXURY ENVIRONMENT

To develop and build up your knowledge and confidence; immerse yourself in an environment where luxury is commonplace. Immerse yourself in luxury by test-driving high-end cars or meeting up with other sales advisors in high-end restaurants or five-star hotels.

When you are in a luxury environment, you feel more comfortable there, and you will see yourself as part of that lifestyle. Even if it starts by having a coffee, spending time in luxury places will make you understand what you sell, and the special attention to detail.

You must feel comfortable in an environment of success and luxury. If you want to sell expensive luxury items, you must first feel fully comfortable as a customer. If you are not fully comfortable with wealth, with paying high prices, it will stand out when you ask your customers to invest in the luxury items that you sell.

If you want to speak with conviction and confidence, you must start by practicing: Announcing the value of high-ticket items in front of the mirror for instance.

FOCUS ON THE RIGHT OBJECTIVE: CREATING EMOTIONS

When you want to sell more expensive items, focus on displaying them in a way that will trigger emotions, as part of the shopping experience, the pleasure for clients to see and try. When displaying a luxury item, do not only display the item initially selected by the client but a choice of 3 items. The one the client asked to see, an alternative and a more expensive item. This last item can be up to 50% more expensive than the initial item your clients asked to see.

Let them take pictures of these more expensive items. It’s all part of the fun and experience. The goal of the sales advisors here is not to sell but to create an emotional state for the client and ensure they have a great time wearing, trying on or driving the exceptional creation you have displayed.

One additional tip: Never ask for the client’s budget, let emotions drive the decision not the initial budget.

FOLLOW THESE 4 STEPS

These are 4 steps to increase your average price and start upselling more often:

1. Talk about the items with the highest prices.
2. Display these items to your clients.
3. Make sure your clients try them on.
4. Make a case for the items you display. Emphasize exclusivity and benefits for the clients.

These 4 steps could be part of the “fun” objective of the day in a sales/retail team. You have nothing to lose. Just please your clients and get feedbacks from your clients on the offer and products you display.

“Your opinion is important for our brand” is a phrase that should be used as an icebreaker to display these more expensive items. Clients will never be offended that you ask for their opinion. On the contrary, they will appreciate being asked for their opinion.

Your aim here is not to sell but to gain confidence and skills, to build your brand image and credibility. As the headline of the French lottery says, 100% of the winners have tried their luck. So, talking, displaying, trying, and making a case for your items are the key steps to ensure you get a chance to sell.

From a mindset point of view, you need to consider this step of displaying your higher value items to your client not as a sales exercise but as a service to your clients. Turning selling into a service is one of the world’s greatest secrets. Ultimately, selling is about serving others. Displaying them a more valuable, more exclusive item is a favor you are doing for your clients. The presentation fully values your clients and the consideration you give them.

If you do this with the aim of serving, you will enjoy doing it and will succeed much more often. Practicing the presentation of these more expensive items is the key to a much more frequent upsell.

How do you think great restaurants increase their dessert sales?

By displaying the entire selection of desserts, they offer in front of you; it is much more Impactful and effective than giving a dessert menu.

When will you start serving, increasing the pleasure and emotions of your clients?