Merchandising, where the actual money from the movie is made. Spaceballs the T-shirt. Spaceballs the lunchbox. Spaceballs the coloring book. Spaceballs… the flamethrower! Kids love it. And my personal favorite, Spaceballs the Doll – me!” – Yogurt from the movie Spaceballs
Merchandising is really a critical aspect of how “shoppable” a store will be. Conceal or confuse the customer together with your merchandising and it won’t matter if you carry the most truly effective brands, the customer will become frustrated and leave the store. Many retailers simply “stack it high and allow it to fly” without taking into consideration the nuances of proper merchandising.
By guiding the customer throughout your store with their favorite products that are easy to get at, the retailer has an excellent opportunity to turn merchandise inventory quicker and thus increase profits. Failing to supply the most truly effective products as a result of out-of-stocks or through cluttered merchandising – along side their corresponding complementary products – will frustrate potential customers.
The target having an overall merchandising strategy is to help make the shopping experience quick, efficient and possible for the customer Klever Influencer. Although some customers might wish to “shop” the store and take additional time, let that be their choice, not forced into that mode by poor merchandising. Let’s take a peek at some specifics:
Display Area: A clearly delineated display area helps guide customers to distinguishable merchandising sets that allow easy shopping and ultimately, purchasing. Merchandising could be highlighted with specific store designs and gondolas. All too often, retailers cram products onto shelves without rhyme or reason and expect the customer to navigate through their purchasing. Make the set and display possible for the customer to express “yes “.
Fixtures: Fixtures should be properly used to accentuate the goods, not conceal it. Select fixtures that allow for the product to be showcased and easily stocked. Fixtures that are too much prevent inviting site lines in addition to create a protection risk. Dark, dingy and filthy fixtures detract from the products.
Merchandise: Needless to say, selecting the absolute most consumer-preferred merchandise is important to the overall success of one’s store. Category management strategies demand the right quantity of SKU’s for the greatest moving items and the premium position on the fixtures. Out-of-stocks not only can hurt the immediate sale, but will cast doubt in the minds of the consumer on whether the store could be trusted to possess a common brands on the next visit. In some cases, one out-of-stock experience for the customer can lead to the customer never returning.
Plan-O-Grams: Every product needs to have a preordained placement on the merchandising fixture. A plan-o-gram is really a tool that visually communicates the placement and the pricing connected with those products within the category and/or fixture. Haphazardly placing products leaves profits on the shelves rather than in the store register.
Pricing: Pricing is highly recommended within a holistic, store strategy. Specifically, if multiple folks are making pricing decisions for products through the entire store, be careful to ensure “not everything in the store is for sale “.A collective pricing strategy enables a retailer to operate a vehicle volume with certain products while protecting margin with others. The success lies in the mix of these two approaches so that the store optimizes overall revenue and profits.
Signage: Signage is a crucial element providing both directional messaging and price points. It is important that signage not be overwhelmingly busy or too plentiful that the store becomes a cacophony of messaging. Customers have to be informed through the entire store rather than inundated with overcommunication.
Product Adjacencies: Placing products that are complementary next together enables the common ticket sale of the store increase. If you should be selling shirts, having ties merchandised next for them is a wonderful exemplory instance of a merchandising product adjacency strategy. Just like plan-o-grams and positioning the most truly effective selling items in the very best places, many stores that don’t link products with adjacency placement, lose out on sales and profit dollars.Read More