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Registry Offers Growth For Independents
April, 2006
By Cynthia Ward Vesey, Associate Editor
NEW YORK— By helping stores significantly increase their
business and gain loyal customers, gift registries have become a popular offering
at many independent retailers.
Elsa Pinto-Melikian, the founder and president of Your Registry,
Inc., has been a registry consultant since 1998.
Headquartered in Sacramento, CA, Your Registry offers complete
registry services to retail and service merchants and their clients, providing
data, registrant and guest management.
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Registry Do's & Don'ts
Here are some Do’s and Don’ts
for developing a successful registry program from Elsa Pinto-Melikian, the founder
and president of Your Registry, Inc.:
Do make an educated decision about registry.
Take time to see whom you are selling to.
Do create a store that has heart and personality.
You want it to be a destination resort.
Do focus on good customer service and the product
mix. Know what the customer wants, likes and dislikes.
Don’t let the registry sit— plan,
delegate, execute and promote. The challenge is the execution and promotion of
the
registry— following through.
Don’t do it on paper. Have an on-line registry
and use technology.
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Pinto-Melikian’s extensive knowledge of registries has
led her to run seminars on the subject, and she has been featured live on CNN
to discuss the registry business. She has now written The Registry Book, which
provides independent retailers with market information and tools for assessing
and creating a registry program. The book, which is available on the YourGiftRegistry.com
Website, is in a binder format and includes two hours of consulting.
“One of the goals of the manual is to empower specialty
retailers— to give them the tools and do the work of preparing a registry,”
commented Pinto-Melikian. “The book educates, assists and empowers independent
retailers.”
She added, “My company is about leveling the playing
field for independent retailers.”
Analyze This
According to Pinto-Melikian, its important to do a market analysis
before taking on a gift registry. She suggests doing an analysis over 14 months.
Here are the top questions she recommends retailers ask themselves:
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You need to know who your market is and understand the demographics
youre dealing with, including the age of your customers. Do you have a young
set of customers to enable you to launch a program and obtain revenue?
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What is the community around you and who is your competition?
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Who is your customer? If you have a more affluent clientele, what
are you selling to them?
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Succeeding in Business
There are many key elements needed in order for an independent
retailer to produce a successful gift registry, noted Pinto-Melikian. Here are
her top tips to help retailers create a successful registry:
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Due Diligence— Do your homework. In doing your homework,
you understand if you have the infrastructure— whether a small, medium or
large specialty store— to manage and delegate [tasks] for a registry.
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Technology— Don’t convince yourself that paper is
going to work [for a registry]. If you don’t offer an on-line registry you’re
not in the game. The perception by the couple is that more people will see the
list and buy what they need.
You need to pay attention to young, technologically savvy brides
and grooms. The number-one way to get their attention is through technology.
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Promote— Every advertisement [for a retail store] should
mention your registry. You need a visible presence in the store for the registry,
and the staff needs to mention the registry to customers.
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The Big Event
 In order to improve a registry program and attract more customers
to the registry service, Pinto-Melikian suggests her clients have small focus
group events, inviting customers who are interested in registering or who are
already registered.
This allows retailers to find out directly from brides what they are looking for
and interested in, she noted.
It is also beneficial to offer a variety of other events geared
to brides and grooms, she said. “Focused events work better, such as newlywed
cooking classes just for the bride and groom. If they get hooked on cooking, you’ll
get more purchases.”
Advanced Technology
Pinto-Melikian emphasized that there are many benefits of having
an on-line registry. Following are her main reasons why an on-line registry will
enhance a store’s registry program:
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An on-line registry gives you a bigger share of the pie and brands and promotes
the store.
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It gets the younger generation into the store so they age with the store. If
you offer what they need they stay with you.
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You capture [around] 150 qualified buyers and increase your customer
base. |
© 2006 - ICD Publications
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