The power of merchandising
One of the most exciting aspects of working in retail stores has always been the impact you can have on sales, and how immediate this can be. By moving a display, creating a new sales space, adding a window, ensuring signage is correct, or even just getting products onto the sales floor, you can see sales lift instantly.
We’ve seen this proven time and time again. The increase in sales will often surprise the store and brand.
Merchandising is an integral part of the success of any retail store. Whether you’re selling clothes, books, vitamins, beauty products, or golf clubs, merchandising is the “secret sauce” that will improve sales.
You can’t afford to ignore this when at least 41% of in-store shoppers are making an impulse purchase, it seems the pandemic has solidified this behaviour with 21% admitting to making more impulse purchases.
Merchandising is a combination of great product skills and strong analytical analysis to ensure that products are in the right place, at the right time, in the right quantity and at the right price.
One way that merchandising affects a store’s sales is by triggering buying behaviour. Customers are drawn to well-merchandised products, and that ‘gotta have it’ mentality is created. Many things can interfere with this process, simply not being able to easily see the price can have your customer immediately walk away from your product.
When successful, the psychological impact of merchandising drives up sales, generates product awareness, and ensures maximum sales. It can also affect the way people see certain products, thus influencing future purchasing decisions.
Excellent merchandising is both an art and a science. Understanding your customer’s needs is where the true magic can happen. An expert Retail Merchandiser can ensure your products leap off the shelf and into their shopping basket.