If you are in the retail business, then you probably are aware of how important merchandising is to your sales. However, are there ways that you can improve how you display products that can have a positive effect on your bottom line? This guide will show you all you need to know. We’ll talk you through making a plan of action and look at ways you can improve on the way your store presents its products. Let’s dive in straight away.
What To Merchandise
All merchandising areas should have a clear idea behind them. It isn’t good enough to have a belief in a particular product. You will need to have figures or evidence that those items will fly off the shelves. Major retailers have huge reports that tell them what will sell, but smaller businesses may struggle. However, by keeping tabs on what people are asking for at the tills or when they need help in the shop, you can build up a good picture. Remember: nothing anecdotal will usually work. There needs to be a groundswell of public opinion.
Make A Plan Of Action
Your plan should be based on what you know will sell. You can think of a theme. Special days in the calendar are popular with many retailers, although you don’t need to limit yourself to those. Even the launch of a music album or start of a new TV series can be good enough to get people through the door. Don’t just concentrate on the core product you will include in your campaign. Look at upselling items that go with it. For example, if you are selling the latest Frozen toys, place an order for some books, DVDs and CDs to go with it. Get all staff members on board with the plans and make sure they know exactly what they should be doing.
Kitting Out Your Store
It’s not good enough to pile products in the corner of the shop and expect people to buy them. You need to have them displayed in the windows, and you will need to have a unique point of sale area that are in eye-view of your customers. You could get these direct from the supplier or distributor, but you can also get the custom made by a retail point of purchase company, for example. It is essential to make your store look as pleasant as possible and as easy as possible for customers to get what they need. Another popular idea is to have up-selling products around the till. These encourage shoppers to make impulse buys and can be very effective in boosting sales and profit.
Why It Is Important
Merchandising products is essential for a wide variety of reasons. Firstly, it draws people in from the outside. Vibrant, clean and well-maintained windows are the shopper’s first impressions of you store. Secondly, once they are inside, great merchandising puts the focus on products that sell well. That means, therefore, that visitors to your store are more likely to be interested in them, giving you more sales. And that is what separates the successful businesses from the unsuccessful.
We hope you have enjoyed this little guide to merchandising. Feel free to have a look around our blog for plenty more business advice!