How to Maximize Sales With a Commercial Refrigerator
The goal of any business is to drive sales and maximize profits. It’s at the heart of every marketing campaign, available product and service the business offers. Commercial refrigerators give any business a special edge—the ability to offer a cool beverage or hearty snack. Whether you have customers sitting in a waiting room or want to draw people to the till, a properly-positioned, well-stocked fridge can infuse new life into any business.
Sales Considerations When Using Commercial Refrigerators
There are countless applications for commercial refrigerators in any business. Running an office with clients in the waiting room? A fridge provides cold beverages and can improve customer experience by creating an inviting environment. You can choose to sell the contents or use them as a marketing tool, depending on the type of business you operate. It’s important to understand how your business can best benefit from the use of a commercial refrigerator. Before you decide on your fridge, consider the following five factors:
The first thing to consider is the type of fridge you want for your business, including factors like price and size. Opting for a high-quality brand such as refurbished TRUE® units lets you benefit from lower energy costs and proven functionality. Determine the amount of space you can allocate to the fridge. Is it going on the countertop or will it be the main food showcase with two doors and ample space? Larger fridges come at a higher cost, but they offer more space to store inventory. If you have ample foot traffic, a larger unit provides the benefits of storing larger quantities.
Choosing a fridge is a matter of balancing visibility with space. A single-door display might show fewer items, but it also requires less square footage. Every business has unique needs, a different floor plan, and its own electrical layout. When you decide on a fridge, the first step is to identify where you will place it. Ensure that there is sufficient clearance to allow it to vent properly and that it is close enough to a suitable electrical connection. The room you have for the fridge is the main determining factor when making your selection.
Fridges in stores offer convenience for customers, thus allowing you to establish high profit margins on its contents. However, stocking it with low-cost, high-retail items is only one approach. Some companies choose to stock utility items, like milk, eggs, and cheese. These tactics allow you to engage with consumers by providing access to necessary supplies.
To see a profit, you can charge a higher amount for the essentials, thus earning a profit through that markup. However, this only applies if you have a convenient business location. A more popular approach is to minimize the markup and use the fridge to incentivize return customers. It can create goodwill, while also letting you promote the other items your business sells (the ones with higher profit margins).
Determine the cost of the fridge, including the cost of the space it will require (the amount that area would have otherwise made). Use this to assess how much it needs to earn in order to break even to establish a baseline for the earnings it requires. This dictates the best items to stock in the fridge.
Once you know what items you plan to stock, the next step is to figure out how to organize them within the fridge. Naturally, the items that expire first go towards the front, but beyond that are the aesthetic considerations. Each year, corporations pour millions of research dollars into understanding the psychology of consumerism. Where does the customer eye go? How do bright colours impact the willingness to spend money?
Everything from properly facing the items in the fridge to using contrasting hues to direct gazes indirectly impacts sales. Consider the eco-conscious nature of the colour green against the vivacity of yellow. Each evokes a different emotion, and by arranging the items in the fridge correctly, you can use those emotions to impact purchasing habits.
There are two main aspects to consider when accounting for location. The first is the physical address of your store front. Are you off the beaten path, where you can charge a higher amount on essentials for convenience? Or, are you positioned on a busy street where you’re competing with fellow merchants for foot traffic? Where your business is relative to your customer base, and relative to your competition, dictates both the pricing and the contents that work best in your fridge.
The second aspect of location is where you will place the fridge inside of your store. Beyond the logistical considerations, such as accessible electrical outlets and vertical clearance, you’ll want to place the fridge in the best spot. Is it a matter of visibility? If so, you may choose to place it directly opposing the main doors. If you want to promote impulse purchases, then placing it nearest the till may be preferable.
Commercial refrigerators can help you keep customers comfortable, even if your business doesn’t typically retail food or beverages. There are many ways to use a fridge to promote your services, such as printed labels for water bottles. Offering complementary products to customers can incentivize them to make larger purchases. If you use the fridge to make people feel welcome, it can increase the time they spend at your business. This positive feedback can translate directly to your business through the use of QR codes connecting to your website on the fridge. A countertop fridge can work as a passive form of advertisement for a low price relative to other campaigns.
Final Thoughts: Driving Sales With Commercial Refrigerators
Maximizing sales with a cleverly-applied commercial refrigerator is a matter of understanding your customers’ preferences. Determining how to use the equipment to maximize profits involves balancing the cost of the equipment with its utility value. A proper commercial fridge is a versatile piece of equipment with open-ended possibilities. If you stock the fridge with items that your customers want, then not only can it drive sales, but it can also create goodwill by adding value through convenience.
To learn more about how your company can maximize sales with a high-quality commercial refrigerator, call Ancaster Food Equipment toll-free at (855) 888-9644 or send us a message to learn about our North America-wide shipping. We can’t wait to hear from you!