With the constantly increasing competition in the market, retailers need to use the best strategies and store enhancement techniques to ensure they keep their business running successfully. Even the retailers that are making huge profits need to keep implementing new strategies to ensure they maintain their position.
What is in-store merchandising?
In store merchandising refers to the usage of various strategies like creative displays, grouped planograms, etc., to develop interest and influence the decision of buying products. Basically, the goal is to stimulate interest through creative planning, precise calculations, implementation, and management.
Retailers categorize and arrange the products at their store on creative planograms and shelves to make it easy for you to find the product you need.
What to focus on?
When you plan to use retail merchandising, it is important to know what you want to achieve. While this might pop numerous questions in your head, we recommend you to focus mainly on these two:
- Which product do you want to promote?
- How do you want the customers to move through the store?
The first question focuses on the product that you want to give the highest priority to, which is usually the most-selling product of the store. Products are usually prioritized according to the seasons and, therefore, need to be changed as soon as their season’s over.
The second question decides how you want to place your products and how will the customer get to it in your store. This is a crucial aspect to work on, as a store with overloaded shelves and hard-to-figure arrangement isn’t what the customers are looking for. Therefore, make sure to keep an adequate amount of products in your store and not overload it with an effort to provide more options.
Components of Retail Merchandising
Once you’ve laid down the essential plans for your store, use the following aspects to the best of abilities to efficiently merchandise your store.
Various Electrical Fixtures
You need to make sure that the various electrical fixtures in your store meet up with the requirements of the plan you’ve laid out. For example, it is important to have proper lighting on all the shelves to ensure customers can spot the products easily. Improper lighting can result in some products being in the dark and away from the customer’s eye, and are, therefore, guaranteed to lead to losses.
Similarly, you need to have adequate electrical connections wherever you want to move your refrigerators to.
It is easier for customers to find the product they’re looking for if you put up signs in your store to provide directions. These signs boost the benefits of other merchandising strategies as well.
In order to increase sales every season, make sure to keep changing the decorations of your store with time. Add-ons like floor coverings, wall coverings, window coverings, mannequins, balloons, etc. are guaranteed to make your store look livelier and increase the profits and footfall in your store.
Blending the above-mentioned aspects with other retail management techniques can help you boost the sales and, overall, profits of your business over time. Just make sure to keep up with the latest merchandising techniques and implementing them in your store to stay one step ahead of your competitors.