Released on: April 14, 2010, 12:07 am
Author: Displaysense
Industry: Retail
With the prospect of a rise in VAT to 20% after the general election, the retail sector faces a return to uncertain trading conditions at the latter part of the year. According to Displaysense figures, in order to counter this, retailers are investing more on their store fixtures to encourage customer up selling and make the most from every customer at the tills.
Displaysense, the UK's leading supplier of shop fittings and display cabinets has experienced a growing trend of customers over the past month who are searching for and purchasing more premium and designer display products to promote higher ticket items. This push for premium is a far cry from the promotion of budget ranges seen in stores this time last year.
As the country ushered in the new financial year at the start of April, this trend does not look set to slow, as high street chains and independents alike rush to glamorise the in-store experience to make the most of the pre VAT rise period.
According to Displaysense, its premium display cases and glass shelving units have been in unusually high demand for this time of year, leading the company to source a variety of other high end display products such as a new range of designer fashion busts. This sudden rush to reinvent the in-store experience could be mistaken for a seasonal high street change, however conversations with Displaysense customers uncovered the desire to encourage customers to break away from the budget ranges.
Steve Whittle, the marketing director at Displaysense commented: "Whoever wins the next general election will inevitably increase VAT and this is going to affect shoppers buying patterns towards the end of the year. What we are noticing is that retailers are getting ahead of the curve and are encouraging customers to trade up on their purchases. Retailers aren't asking customers to buy the most expensive items in their stores, but simply trying to wean customers off of budget ranges."
Michael Ward the managing director at Harrods recently highlighted that investing in the in-store environment is a necessity for retailers if they are looking to encourage customers to trade up during such unstable economic times. Such advice does not appear to be falling on deaf ears, as all sizes of retailers flock to companies like Displaysense for the next big thing in the display world.
The high street is poised to once again face tough trading periods in the second half of this year, however those that can effectively encourage customers to trade up, won't be the ones that will be closing down.
About Displaysense
Displaysense was established in September of 1978 as a manufacturer of quality point of sale displays. Displaysense has a wealth of experience in design and manufacturing and has been able to develop an ever growing standard range of more than 5,000 displays for retail, exhibitions, office and home. The range is now hugely diverse including literature displays, display cabinets, mannequins, office displays, exhibition stands, catering supplies and even items for the home.
Displaysense works with a large range of clients including, retailers (multiple and independent), blue chip corporate clients, cafés, bars, restaurants and night clubs, shop and office fitters, marketing and promotions companies, designers and architects, product distributors, exhibition contractors and exhibitors, printers, councils and NHS trusts, charities, schools and universities and even home consumers.
For further information please contact:
Steve Whittle
Marketing Manager
Displaysense
Rye Street
Bishop's Stortford
Hertfordshire
CM23 2HG
UK
0845 2008139
www.displaysense.co.uk