product knowledge in retail

When providing options to the customer, the associate focuses on how certain products and features will improve their race performance. You must thoroughly understand your terms. Product knowledge builds enthusiasm. Knowing as much as possible about your products and services is a fundamental part of your role as a Retail sales Professional. If you’re selling designer bags, can you easily demonstrate how to attach the shoulder strap and also the 2 hidden pockets on the inside of the bag? Good product knowledge will help even the most reserved sales associate. Some of them will be relevant to what you sell and others won’t but they will give you a flavour of what you need. There are some retailers that have a very strong persuasion power that they can convince you to buy something you are sure you did not need. It is also important to remember that everything that you sell is now subject to legislation! Think of product knowledge as a skill to be learned and constantly improved upon rather than an abstract concept. Remember if you struggle to do so then they will assume that they will struggle so you need to make it look effortless. In that case, product knowledge could be the deciding factor that pushes consumers to buy something from your associates. This is a scalable solution if you have hundreds of retail staff. Importance of Product Knowledge. Maybe a designer who has paired up with a fashion retailer sends out a video message to managers and associates, explaining their latest collection and the materials used, proper ways to care for the garments, and styling tips. Employees are equipped with an iPhone app that acts as a level to help them achieve this. Product knowledge is an essential sales skill. As you have found, this area can embrace a wide range of detail and be the critical differentiator when customers choose who they want to buy from! Because you have a real understanding of customers and their experience of your offerings, you are able to deal productively with customer problems and issues and guide them effectively to reach a solution. UnderstandinEVOLUTIONg how your products and service have evolved over time is very useful to demonstrate your expertise and build confidence with your customers. Most retailers train their team to close out the register, stock shelves, and keep the floor clean. In retail, that could mean remembering and appreciating repeat customers, forging a local connection with shoppers, putting your product knowledge to good use, and more. The first step to building product knowledge is to acknowledge the need for it. That’s just not fair. With the right software, mobile devices can provide associates with a wealth of information (via the company website or internal documents), including additional specifications that aren’t available on the packaging or signage. Still wondering, “what does product knowledge mean?”, Product knowledge may sound self-explanatory, but there are plenty of factors that go into “knowing about a product.”. What Do Our Retail Customers Expect From Us? The survey functionality can even be used to quiz employees about particular products or promotions. When the UK financial service industry went down that route they ended up paying out billions in compensation. We can develop your retail sales staff and store managers to help them take their game to the next level. What is Product knowledge? All of these methods effectively transfer product knowledge to employees, who can then pass that knowledge along to customers. We mentioned previously about the importance of understanding about your industry as a whole. Retailers can also use virtual platforms for trials of prototypes or experimental products and tap into the customer knowledge and experience to develop their product or estimate the market potential. Knowledge is power and for retailers, product knowledge can mean more sales. For example, if you’re selling holidays and there are some damning reports on trip advisor, but since the hotel has addressed the issues and are now receiving accolades, then you need to know this so you can advise your customers. Those who have learned everything they can about the products they sell have a distinct advantage over those who don’t. That means many of them are willing to provide demonstrations to your staff and customers. It’s very frustrating isn’t it, and there are many things that can go wrong with this. ), give staff a chance to try them out behind closed doors. This is important for the customers as it is very important for the customer service agents and sales personnel. Markets are constantly changing and you need to keep on top of these changes. Take this retail quiz and see if you’ve got what it takes or not to rule the retail industry. Familiarizing your product involves acquiring knowledge about its functions, features, application, support requirements, and anything else that concerns the product. After all, you don’t want to be making promises that you cannot keep. To succeed, research industry trends and market information, and simply build up your commercial awareness. With these tips and tricks in mind, you’ll be able to improve your team’s product knowledge and drive in-store sales as a result. It’s the peace of mind knowing that if something goes wrong then the customer will not be forking out hundreds to fix it. Your products may have fixed pricing structures but in many cases there are different options that you need to understand – you will also need to understand any cross and up sell products too and any impacts this has on the price. And the fear of loss is a very influential factor that you need to take into consideration when you sell. They then go back their stores and train their retail sales teams. If you are relying on this level of knowledge you must do something to change it – it is unprofessional and very risky to attempt to advise customers without a good enough understanding of what they are buying. PWC reports that product knowledge is the most important in-store attribute for 59% of shoppers surveyed: “ [Retailers] need to provide a convenient, frictionless in-store experience, with the added advantage of knowledgeable sales staff who can explain product offerings, the Number One preference of in-store shoppers, ahead of ambience." We’ve established that retailers get better results from knowledgeable employees. The NAICS accepts that “knowledge of fashion trends” is a service that various retailers in the retail merchandising category provide. Customers never want the answer to be: “I don’t know.”. And does your company offer an online retail experience too? Maybe a potential customer has heard of problems or drawbacks that have since been addressed by the manufacturers or providers. You consistently provide extra advice and support to customers to help them make their buying choices, often at increased margins for you. It might seem obvious to know how to use the goods you are selling, but not everyone in sales has this understanding. There’s much more to it than just understanding features and benefits. This translates to a better rapport with customers and a more successful approach to marketing and … And this year, after COVID-19, more and more retailers have closed their businesses. Please share. But for items that would previously have been on the floor for testing (e.g., headphones at a tech store, snack foods at a grocery store, hand lotion at a beauty store, etc. Ensuring an excellent customer experience translates into higher sales. Of course, properly explaining a product includes physical descriptions like the color, model, and version, but also the functions, features, pricing, operational instructions, warranties, and support options available for any given item. There are a wide range of product knowledge areas that will be instrumental in reaching the ultimate outcome of a transaction. By using software like Foko Retail, managers can keep track of which staff members have or have not yet viewed messages, and all employees can easily share documents and images with their team. When customers step through the door, they expect a certain level of customer service. Brands might send a rep to tell your staff about their products during a training session, passing along their knowledge to employees. 2. Good discovery skills are essential if you are to reach the top level of retail sales: being recognised as a trusted advisor by your customers. If you’re selling pushchairs can you open and close them easily and be able to demonstrate this to the customer? I cannot stress enough the importance of product knowledge when it comes to making sales. Having a deep knowledge of how your products are made and put together can be very helpful. You can categorise how much you know into 4 levels of knowledge. 2. Product knowledge gives us courage. Train your associates to, understand the products that they are selling, so that when a customer asks a question about a particular item, employees can answer them accurately and confidently. Fast-Learning Skills . It instills faith, trust, and respect in the customer, which creates a positive customer experience. But suppose similar products are available at similar prices in competitors’ locations. It gives them confidence knowing they have something of value to tell the customer. They should also know that factors such as durability, support, and waterproofing are likely more important to the shopper than the color of the shoe or any other aesthetic choices. The retail industry is busy and constantly changing. This knowledge will cover how products work, what they are made of, how they are used, ranges and options and limitations versus benefits. To kick your associates’ product knowledge into high gear, make the learning process a bit more fun. Have you ever been a sold a product only to be let down on the delivery? The word itself defines product knowledge. There’s also the fact that you can ruin any relationships you’ve built up with your customers. So it doesn’t matter what you sell in…, 12 Important Product Knowledge Topics In Retail Sales. Good product knowledge. What happens with the delivery of these items? Having a thorough understanding of the product and listening to the customer needs allows the associate to extrapolate the relevant information about the product and apply it to each customer’s unique situation. The customer will be using it and when you can advise them on this aspect from your own experience you are more able to act as a Trusted Adviser. After all, you want to gain the most in-depth product knowledge possible. It is difficult to effectively sell to a customer if we cannot show how a particular product will address his or her needs. The customer is at odds with you and it just feels like you aren't on the same page. There is no point in re-using the same material twice or giving unnecessary information to those who do not need it. It’s achieved more by listening, understanding and succinctly advising as appropriate. Without industry or product knowledge, you’re bound to fail in retail. Increasing your product knowledge and retail sales training techniques will also increase sales. Some of your clients will want assurances and the peace of mind knowing that if anything goes wrong that they will be covered. Fail to spend enough time on learning about your products and you’ll struggle to sell them. If you’re aware of the areas where they have an advantage over you then you can plan your response accordingly. Product knowledge is the most important tool for closing sales. Below I’ve categorised the product knowledge that you’ll need into 12 main areas. We can deliver the training ourselves in a workshop environment or within your stores. Ask questions to learn their preferences and needs and then you can focus on the most appropriate items to help the customer decide. Established by Dr. Katharin von Gavel in 2007, Footlogix® is the world’s first and only Pediceutical® foot care line to address the challenging needs within the foot care industry. It can give you the edge as an expert and also help you to guide the customer. Employees gain a high level understanding of Deli Meats. And if there was a safety issue with a car in the past and this has now been fixed, again, you need to know this. Product knowledge is generally the ability to acquire as much knowledge about a product being sold. The majority of retail sales people that you come across seem to have this level of knowledge about a lot of the products they are selling. Employees need to understand a product, and effectively communicate its features and benefits to the customer. Now let’s take a look at some best practices for putting product knowledge in employees hands: Join us in the next episode of Retail Rework where we'll be exploring microlearning and how it can help support an overwhelmed worker thrive in the fast paced world of retail. There should be no surprises if a customer springs on you that a competitor is offering the very same product for 10% less down the road. The merchandiser in coordination with the store manager must ensure that the products are according to the season as well as latest trends. Luckily, you can make a number of simple changes to improve product knowledge amongst your employees in-store. In this handy guide, we’ll explain what product knowledge is, why it’s important to customer service, and how you can improve product knowledge at your retail business to boost sales at every location. Vendors whose products are available at your store have a vested interest in driving sales. When you have a good understanding of this history you are in a strong position to demonstrate why this product can now be the right choice. Can they also receive the item quicker if they pay more? from salespeople in physical stores, so in-store associates need to be able to provide additional information and context about the product to close the sale. You can pick a “product of the week” for staff to know about and approach everyone individually to hear their sales pitch for it. A customer comes into a footwear store and explains that they are training for a high-intensity, multi-terrain race. In other words, sales reps need to know how the product will benefit individual clients. Shifting from a basic retail associate role to a sales specialist or retail sales manager job is a huge step up for your career. Be up to speed with the latest information about everything because you’ll never know when it will come in handy. It is also the set of processes around the product such as the planning, R&D, customer base (who is buying/using the product and for which purposes or goals), and knowing when it is time to end production of this particular version. This is important for the customers as it is very important for the customer service agents and sales personnel. There are a wide range of product knowledge areas that will be instrumental in reaching the ultimate outcome of a transaction. A helpful aid in enthusiasm is knowing exactly what you're talking about. What is Product knowledge? Footlogix Essential Assets. And then there’s the distribution and availability of the product or service. Customers respond to enthusiastic sales staff who are passionate about their products and eager to share the benefits … This may sound like you know everything but this is really the minimum level of knowledge needed to provide a basic service to your customers. You need to be really up on all of the styles, colours or models available. An example could be the special treatment of certain carpets with a stain protection agent as standard or how a piece of furniture is hand made by a master craftsman or how each of your products is created locally without the need to outsource to China or Taiwan. Importance of Product Knowledge. Here are some of the key benefits of increasing product knowledge among your sales associates. The display of the products at the retail store must entice the customers. The survey functionality can even be used to quiz employees about particular products or promotions. Product knowledge training must also be consistent, engaging and customised. In addition to that if the same lady wanted the dress in purple, do you actually offer it in purple? Does your product have any special manufacturing processes? Mid-Level Retail Sales Skills. It is more important they teach their team how to identify a customer’s needs and wants, match those needs to a selection of products, and show them the value in their options. And there are many upsells that can take place at the point of sale too. Your knowledge and recommendations are sought after and you can lead training programmes for others. Retail employees can’t share their first-hand experience with products if they haven’t tried them out. You need to know all of the options here. However, fashion merchandising services also represent a separate economic activity under the Specialized Design Services (code 541490) category. The exceptional retailer will be able to train their specialists to be able to engage a shopper and build rapport without waiting for the customer to come to them for the specifics. They don’t need to be an expert, but they should be able to answer basic questions about the product and how it works. Of course, properly explaining a product includes physical descriptions like the color, model, and version, but also the functions, features, pricing, operational instructions, warranties, and support options available for any given item. Offers like providing insurance against accidental breakages can add an additional 10-15% on to the price of the item. There may be discounts and special offers that you need to take into consideration and any special sales that are taking place. Changes in fashion, taste, habits, the economy and so on should all be noted so you can adapt your approach accordingly. In business, product knowledge is all the above…and more. If you’re selling cars do you know exactly where the latch is to open the bonnet? Now we have a retail knowledge graph (where yellow nodes are entities in the retail industry with semantic connections) and an EDITED product graph (multi-colored nodes of product data like color and brand), we can utilize the two to do some advanced query expansion. That’s product knowledge. Build and manage a top-notch sales knowledge base. Product knowledge is the ability to communicate information and answer questions about a product or service. Ask, "Excuse me, but have I done something to offend you?" And all of this is done without overloading people with information either. The word itself defines product knowledge. Unearthing Customer Needs During A Retail Sales Interaction. Want to improve your retail sales skills? In grocery stores, brands might send a rep to speak directly with customers, like a new meat alternative brand setting up and running a “burger” sampling stand. This may sound a quite simple topic but you really need to have deep understanding of your product knowledge with regards to what you sell. A really good salesperson with deep product knowledge can help make that connection. Understanding and knowing everything this is to know about your products is only one aspect of selling a product. To be of maximum service, mattress sales people must master the product knowledge and communicate the features and benefits in a way that shoppers can understand. Knowledge is Power Use These Tips to Keep Staff Informed. Best practices for improving sales execution through product knowledge. Whether you implement a bring-your-own-device (BYOD) policy or provide work-only tablets, mobile devices allow employees to bring a wealth of information with them wherever they are on the store floor. By following this process of learning product knowledge, sale associates can raise their level of competence and confidence and consequently increase their sales and grow their ranks of satisfied customers. Product knowledge is the most important tool for closing sales. Understanding your products' features allows you to present their benefits accurately and persuasively. Don’t think so? There are some retailers that have a very strong persuasion power that they can convince you to buy something you are sure you did not need. Now let’s take a look at some best practices for putting product knowledge in employees hands: If you want to be a future shop keeper you should be able to connect with your prospective clients. So let staff take products out for a test run when new items arrive in-store to boost their product knowledge. Yet more than 50% of shoppers still seek expert advice from salespeople in physical stores, so in-store associates need to be able to provide additional information and context about the product to close the sale. A really good salesperson with deep product knowledge can help make that connection. Footlogix Retail Product Knowledge. If a customer needs something and your associate cannot confidently explain how a product will fit their needs, they’ll likely walk away from the purchase. Being up to date on these matters will enable you to have intelligent conversations with your customers about the latest and greatest and will really set you apart from someone who just works in retail as opposed to someone who is a true retail professional – someone that is a trusted advisor to their customers. Other key aspects are the changes that have taken place to improve its performance and benefits. It can be difficult, since many studies have shown that consumers often, believe they are more knowledgeable than store employees, We know customers are using their phones in-store to look up information—level the playing field by equipping your associates with. It also means they can answer questions on the spot and overcome common customer objections. Allow Hands-On Experience. An associate who is both knowledgeable and enthusiastic about a product will have the best chance of persuading a customer to buy it. Mobile devices also let employees remain up-to-date on any company memos about new products and special promotions involving particular products. We know customers are using their phones in-store to look up information—level the playing field by equipping your associates with mobile devices of their own. Your staff can learn from them as well, so they can share the same information with customers once the brand rep moves on to a different store. Sometimes, things just aren't going well. In the … Train your associates to really understand the products that they are selling, so that when a customer asks a question about a particular item, employees can answer them accurately and confidently. You are starting to become a sales leader as your advice is sought after; and you are able to help train your colleagues too. There can also be associated products that are available at special prices if bought together. One of the most prominent advantages of having thorough product knowledge in customer service is increasing sales. The retail industry is constantly changing and there are always new challenges faced by the players in this competitive industry. It instills faith, trust, and respect in the customer, which creates a positive customer experience. When your knowledge is up to date you should be able to avoid difficulties in this area. This means that product knowledge is crucial to building effective sales and a lack of application of the right pieces of knowledge is frequently the reason people do not buy – and they don’t always tell you why either. Salespeople and companies that fail to inform their customers of the full terms risk their future business and at the same time develop a reputation that they cannot be trusted. You don’t want to be selling broadband services and guaranteeing a download speed of 40 meg only to find out that they live in a remote village when the maximum they will receive is 2 meg. If you want to be a future shop keeper you should be able to connect with your prospective clients. You study relevant literature and industry publications. It may all seem a little daunting, but let’s look at it one by one and you will soon get the idea. About Footlogix . This will definitely help the customer to feel surer in knowing that … See how our product knowledge training solutions helped a leading global media company train their employees across the world. When representatives know their stuff, they’ll be able to outline all the key features and highlight the advantages of purchasing a particular product or service. A product kept in a nice box would definitely catch the attention of the customers. From the day a salesperson walks into your company to the day they retire, they are flooded with information – endless streams of … Tangible senses like sound, taste, and feel are difficult to convey and may not be the same for everyone. Your customer will expect an experience that is free-flowing and completely hassle free and can set you apart from your competitors if you do it right…. And when staff provides enhanced product knowledge, it creates trust and brand loyalty, keeping customers coming back for future shopping needs. You will be regarded by your peers as “the go to” person they come to for help and advice around the products. It allows you to understand a product or service, which is an important piece in developing a marketing strategy for a business plan. So if you sell a large furniture item for example then you need to know the lead times of delivery – sometimes this can be weeks so you will need to inform the customer of this. Not only does this show the customer that they’ve been listened to, but it allows them to see how the products offered will benefit them, all while demonstrating that the employee is knowledgeable about what they’re selling. Would your connections like this too? By making sure your sales staff is well-versed in the features and benefits of your product lines, you can boost the confidence of these key front-line employees. You can take courses and brush up on your knowledge when there is down time in your store. If you sell goods that have warranties, servicing and repairs remember that what you are selling is peace of mind. For example, an organization may … For example, a customer wants to know the dimensions of a product or how fast it will go or how much it will hold. This area can be really useful to you when customers have choices – so make sure that you know the options that are available but avoid presenting too much information at once. Product knowledge ensures that sales professionals can communicate effectively and enthusiastically, building trust and confidence in customer relationships. 8. All of this is really important. You participate in webinars and attend trade shows voluntarily and you pro-actively liaise with suppliers, manufacturers and service providers. Think of product knowledge as a skill to be learned and constantly improved upon rather than an abstract concept. Or, simply let the sales do the competing and reward the associate who sells the most of that “product of the week.” (Of course, praise and rewards can also be given for particularly great customer service and reaching overall sales targets.). Benjamin Franklin summed it up when he said: “An investment in knowledge pays the best interest” – remember it well throughout your sales career because it’s so important. It’s not fair … And why it’s crucial to the future success of your stores. Ensuring an excellent customer experience translates into higher sales. But there is more to it. Understanding the customer’s needs and the store’s products, the associate immediately knows to rule out any dress shoes, sandals, or even basic running shoes.
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