Organisations advised to combat budget cuts by adding new revenue streams
Displaysense, the UK’s leading shop fittings supplier, is encouraging organisations facing budget cutbacks to introduce additional revenue streams to help minimise the need to make staff and service reductions.
Marketing director at the company Steve Whittle believes that there are ways in which organisations, and in particular service-led firms, can boost revenue and therefore avoid damaging cuts.
“Service-based organisations can benefit from selling complementary products, which will help them increase their customers’ average spend,” he explains.
“Although many organisations may be facing unavoidable financial cutbacks, we believe that some of this can be offset by the positive effect of introducing or improving product display stands,” Mr Whittle adds.
New shop fittings can be used to attract consumers’ attention to the latest product ranges and the additional revenue generated by a well designed display can go some way towards alleviating the financial pressure many businesses are under, he states.
“A museum, for example, which generates revenue purely through entrance fees could introduce a range of replica items. These can be showcased very effectively in glass display cabinets and sold to visitors to help boost sales,” Mr Whittle suggests.
“Establishments such as this can also look for other product lines that complement their exhibits. It doesn’t need to be an expensive exercise and as an alternative to opting for items such as replicas that relate to the business, they could simply be products that work well with what is already on offer, for example branded T-shirts and bags,” he continues.
But adding new product lines is not the only way that organisations can improve their revenue stream, with Mr Whittle recommending that businesses look at other ways to utilise their facilities.
"Letting out space for events or private functions is one way places such as galleries and museums can generate additional income, especially if the events are run outside of normal opening hours.
“Offering sponsorship deals is another possibility and if they are able to capture customer data, firms could consider selling this information or using it to introduce their visitors to third parties,” he advises.
However, Mr Whittle stresses that adding new product lines - and marketing them effectively - is one of the best ways for such establishments to significantly boost their revenue.
"There are numerous display stands that specifically cater for low value products, but it can be incredibly lucrative to create a higher perceived value for such goods and this requires the right display.
“A glass display cabinet is one solution that is very versatile and can create this higher perceived value and therefore offer a real contribution to cover any budget reductions by increasing revenue,” Mr Whittle reveals.
Displaysense has been working in the shop displays sector since 1978 when it started out in Hertfordshire. Since then, the organisation has grown substantially and now manufactures its extensive range of products in 25 countries around the world.
Orders can be shipped anywhere in the world and the company constantly seeks to update and improve its offerings. Following a philosophy of choice, value and service, Displaysense’s customers can rest assured that they will receive the best products from the leading shop display and fittings retailer.
If you would like any further information about the products and services offered by Displaysense, please contact us.
Tel (UK): 0845 200 8139
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