Retail Musings
"How can money be the root of all evil, when shopping is the cure for all sadness..." Elizabeth Taylor
Too many small business people spend inordinate amounts of time and money trying to increase their profitability by attracting new customers, when all along they’re allowing a goldmine of profits to slip by right under their nose.
What is a Bump?
On each and every transaction you have the opportunity to increase your margins dramatically with a simple “bump” or “up-sell”. Bumps are offers made at the point of sale by giving a simple suggestion.
For instance, when I’m on the road, one of the easiest places for breakfast is McDonalds. I always order a Sausage Muffin and a flat white and each time I go to order, the counter person asks me if I’d like to have the large coffee. Errr, yeeesssss. This is a good example of a bump.