Enticing customers to spend more in-store can seem complicated, but there is one surefire way businesses can lose that battle before it even begins, according to serial entrepreneur Marcus Lemonis.
Customers can't buy products they're not offered, observed the investor on CNBC's "The Profit."
It might seem obvious, but the trick of using retail space efficiently and offering a variety of options for customers can easily boost customer spend — something Lemonis tried to prove to struggling Texas-based tea concept Tea2Go on the latest episode of the reality business show.
The franchise, which owner Jeff Hunt founded in 2013 as a Starbucks alternative where people could order tea drinks and loose leaf tea by the ounce, had amassed nearly $1 million in debt and shrunk from 19 locations to 11. Part of the problem was that Tea2Go's average customer only spent $3 per visit — a direct result of the shop not offering its tea-loving customer base anything to complement its teas.