Tips and tricks for merchandising are more important than ever. Let's not mince words: COVID-19 has made life difficult for retailers, with forced closures, decreased foot traffic, and an economic downturn.
Not to mention the rise of eCommerce. Before the pandemic, online retail sales in the United States surpassed general merchandise sales for the first time in history in 2019. Since the pandemic, eCommerce has devoured even more sales. Despite their advantages, websites will never be able to replicate a retail store's authentic, in-person experience.
So, how can you thrive in the face of these obstacles?
In a nutshell, enhance your customer experience and streamline your merchandising efforts. But, before we get started, what is merchandising meaning?
What is Merchandising?
So how do we define merchandising? Everything you do to promote and sell your products once a potential customer enters your store is merchandising definition. When we define merchandising, we are referring to products that are available for purchase, typically in a retail setting. Because the sales process frequently begins with the eyes, merchandising typically entails presenting products in a visually appealing light in order to encourage purchases.
Advantages of Merchandising
Some small business owners find that hiring professional visual merchandisers to come in and spruce up their displays and selling floor is well worth the cost. However, merchandising entails more than just moving inventory; it also includes space planning and product staging. Profits from effective merchandising:
∙ Customers are Attracted
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In Merchandising, you can increase the number of people who notice and enter your store. Increased traffic may result in increased sales and success. Merchandising should begin outside, where customers first see the store and decide whether or not to enter and shop. Bright signage and manicured grounds, a clean parking lot, and a well-kept retail structure are all factors that help shoppers decide whether a trip inside is necessary or if the store does not appear to be somewhere they would prefer to be. What happens once they're inside is determined by your interior merchandising, product line, and pricing.
∙ Sales Have Increased
Effective merchandising can have a distinct and measurable positive impact on retail sales and the bottom line, which is, after all, the ultimate goal of any business strategy. Pricing, displays, product packaging and arrangement, sale signs, and promotional marketing can all increase sales while improving your customers' shopping experience. With no need for expansion or renovations, good merchandising can help you get more out of the same retail space. Customers will begin to associate your appealing merchandising with your store, which may influence where they shop regularly.
∙ Attractive Environments
Aisles, shelves, display fixtures, and the general layout of the interior retail space may need to be rearranged for proper merchandising. Interior spaces should be easier to navigate while directing customers to important sale items and significant displays. An effective retail space provides the benefit of flexibility and more usable space. It will also contribute to creating an environment that can handle more people more efficiently, making the shopping experience less of a chore. Customers will find this appealing, and it will improve their perception of your brand.
Merchandising Hints and Tips
While fashion trends come and go, these retail merchandising tips are timeless. These merchandising methods have proven successful time and again and can be applied in any market. Consider yourself a shopper. As you plan your next strategy, ask the questions you believe they would ask while browsing the aisles. You can follow best practices and brush up on merchandising tips with these eight classic tips.
1. Color Corrective Action
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Color, whether bright and bold or cool and mellow, speaks volumes about your strategy. Color has never been overlooked in an effective merchandising strategy. Color evokes brand associations, creates moods, and highlights or complements specific products. Consider the effect you want your display or sign of having, then embed the message using your chosen color. Choose lights, paint, and objects that complement one another and work together to convey the same message.
Tips:
- Use your brand's signature colors in a display to make your product stand out
- Understand the three types of color schemes: monochromatic, analogous, and complementary
- Use eye-catching colors to attract attention
- Keep in mind that color is an accent; don't let it overpower your merchandise
2. The Rule of Threes
This time-honored merchandising technique never goes out of style. By grouping products in threes, symmetry and balance are created, naturally drawing the eye. Leaving a product alone can make it appear odd or disproportionate. Stagger items based on price points, sizes, or styles to create an appealing display for customers. Place your three items in a row to create a collection representing your product line.
Tips:
- Choose a single focal point
- Make sure the elements are all cohesive and organized by staggering them at different heights
3. Cross Merchandising
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Similarly to the rule of three, grouping related products together influences purchasing decisions. The goal of cross merchandising is to pair two complementary products to create an association that drives sales.
This could be a shirt and a matching accessory, or mascara and eyelash primer. Through promotions, incorporate cross merchandising into displays. Promote a sale with two products that can be used together and are likely to be purchased simultaneously, for example. "Buy two, get one half off" can be a tempting bargain for customers. When working on cross merchandising, make sure that the connection between the products is obvious.
Tips:
- Make life easier for customers by cross merchandising items they're likely to need together
- Include products that customers might otherwise overlook
- Consider it an opportunity to launch a new product
4. Be Fashionable
The same displays cannot be used for the next 5-6 months, let alone year after year. People are looking for something new and eye-catching. Boring your customers is the quickest way to get them to walk away from your displays and products. Instead, keep up with the latest digital trends, pop culture trends, and consumer preferences. Adapt your merchandising to the time of year and holidays. This will ensure that you are visible and relevant to shoppers.
Tips:
- Incorporate new digital merchandising techniques like touch screens and AI features
- Make it shareable by launching a hashtag campaign around your displays
- To keep customers interested, highlight your newest products and campaigns
5. Direct Customers in the Correct Direction
Don't expect customers to understand your setup. Assist them. Display signs that will direct customers to and around your displays and shelves. Through clever phrasing and directional advertising, show them where they can find what they want in the price range they are looking for. Signs are the most effective way in merchandising to inform people about the features of a product or to commemorate the release of a new product. Allow signage to direct and inform as it draws attention to the flow of your setup. Never leave customers wondering where they can find your products.
Tips:
- Make sure prices are visible
- Use the same font for stylistic, and brand recognition purposes
- Make sure the font size is large enough to be seen from a distance
6. Stimulate the Senses
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Create an experience centered on your product. This entails using all of one's senses.
In contrast to passive shopping, where most customers scan the shelves and sift through merchandise, an active experience places the customer in the center of the purchase. One way to accomplish this is to hold demonstrations where people can get hands-on with the product, feel it, and test it out. Aside from touch, you can have tastings to test out your product. Even if demos and tastings aren't an option, background music can always be used to set the tone by setting the mood.
Light can also draw the eye to specific areas without extra effort or incorporate a subtle aroma representing your brand's vibe. Consumer interest is increased by combining active and subliminal sensory engagers.
Tips:
- Highlight feature products with bright lighting
- Create a signature scent for your company
- Host regular events where customers can learn more about products and try them out
7. Share a Story
Even if you don't write anything, your merchandising strategy should be able to speak for itself. Your displays should tell a story. Include characters and themes that expand your merchandise beyond the scope of a product. When putting together your plan, you want to be alluring and eye-catching. Prop your brand's products with whimsical objects and sets.
Tips:
- Don't let props and details overpower your product; instead, use them to enhance it
- Stay true to your brand (for example, if you identify as a disruptor/modern product, a rustic theme may not be appropriate)
8. Monitor Your Progress
The most common error merchandisers make are creating a sure-fire merchandising display without ever analyzing the results of their efforts. Whether a project is a success or failure, it is beneficial to understand what works and what does not so the action can be replicated or avoided in the future. Choose and stick to a unit of measurement to standardize your data collection.
Tips:
- Talk to customers and record their feedback
- Begin using a mobile CRM to track retailer compliance with your displays and make on-the-spot observations
- Review merchandising initiatives regularly and brainstorm with your merchandising team
Introducing Strikingly
Do you want to start your online business right away? Visit Strikingly today and sign up for free. Strikingly is ideal for anyone exploring, adapting, or just getting started with creating an online platform. Strikingly takes care of everything so you don't have to be a tech expert to create a website. With thousands of users worldwide, you can keep up with business owners and grow your business by creating a website in minutes. Launch your dream website today by selecting a Strikingly template.
Conclusion
Creating a successful retail merchandising plan can take a significant amount of time and effort. However, it's simple to see the value of retail merchandising – after all, the shopping experience you create can significantly impact your sales. Strikingly is the best platform for attracting potential buyers when choosing a platform. Strikingly includes features that simplify digital marketing for you. You can select from a large collection of templates that you believe best represent your brand and style. Strikingly's Product Showcase feature lets you display a detailed view and description of what you're selling.
