Smart (Business) Ideas - Forward to friends, please...

I share here high-return, low-risk Marketing & Sales ideas: the goal is to generate more profit for your business, with no risky downside. As I am trying to build traffic, I'd appreciate if you could forward this page to your friends (smartideas.blogspot.com). Thank you !

Monday, July 18, 2005

Liked the Food? Buy the Accessories

I was very intrigued by an article on the Wall Street Journal (here is the link for subscribers), published a couple of months ago, where the author described a recent strategy of some restaurants to increase their share of the wallet of their guests.

Let's see few lines from the article:

"At Chicago's Tru Restaurant, diners can pay $65 to $185 to get eight varieties of caviar in a foot-high, winding glass staircase.

Or they can order the staircase itself as a home-décor item (sans caviar) -- for $395.

Some restaurateurs are trying to leverage their signature dishes into another source of revenue, by selling unusual housewares they're served in. From polymer boxes for cooking fish to test tubes for mini-servings of soup, eateries are starting to make the items available in restaurants, stores or on the Web. "

What an interesting idea: it allows a business to increase its sales AND make the clients (or guests) even more satisfied.

And the idea can be easily extended to a variety of other occasions: flower shops could sell the vases where they hold their flowers; hair salons could sell not only the shampoos but also the professional tools they use to take care of their customer's hair; on a cruise, the cruise company could sell a souvenir from the cabin that hosted the guests (how about the number on the cabin door?)

As usual, imagination is the most important resource we have: let's keep using it.

M in Taipei


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