Whether you’re a veteran or a first-time store owner, having a solid merchandising strategy can increase your sales.
What is Retail Merchandising?
This process involves displaying products in ways that trigger interest and influence a customer’s decision to buy. Activities such as choosing which color palette to buy and figuring out your floorplan determine if a customer will buy or not. When displaying products, you’ll want to create experiences that customers won’t forget, and that will keep them coming back for more!
Since retail is evolving every day, it’s important to make sure that your display and in-store experiences are inviting. Still not sure where to begin with merchandising? Let’s start with who your target customer is.
Know Your Customer
When getting to know your customer, you’ll want to figure out what story you’re trying to tell and how the products will do that for you. If your store sells outdoor products such as boats, fishing gear, and camping supplies, items from GRIT can complement the outdoorsman story.
When creating your product story, make sure they are complementary to each other. This helps the shopper not get confused about what you’re selling. You can also use themes and seasons to guide you on what to merchandise.
Organize Your Floor Plan
Knowing where your product goes is essential to guiding shoppers to buy. If you have new products to sell, place them at the front entrance so that’s what your customers see first. Depending on the space of your store, you want to create an easy, shoppable flow. Also, consider how much room your shoppers have to move within your store, and how your employees greet them. Creating a welcoming ambiance can impact your sales for the better.
Tell a Story
The best way to influence a customer to buy your products is to tell an engaging story. Put yourself in your customers’ shoes and think about how they would use the items. For example, products from Michel Design Works and 8 Oak Lane stimulate the senses and bring life to every display.
Strategize your Store Signage
Indoor & outdoor signage is a great tool to guide your customers on a pleasant shopping experience. They can also act as “silent sellers,” showing your customers sales, promotions, and other store events. Make sure your signs communicate information and answer questions clearly so that your customers aren’t confused. When creating your signs, the font needs to be easy to read and consistent throughout the store. And lastly, keep your signs in areas and heights that most shoppers can see; this could make or break your sales.
In Conclusion
By following these tips, you can establish a retail merchandising strategy that will set your business up for success. On your next buying trip, think of customers and how you can merchandise your product. Watch your sales soar!
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