How many times have you walked into a store because you liked something about their display on the outside? Then you find out the inside is equally good and went ahead to make a purchase? And did you go back to the same place for more after that?
Well, that's merchandising; it's enticing customers to get into a store by presenting eye-catching displays. It's one of the ways you can use, as a retail merchandiser to boost sales. So, what exactly is this?
It's also referred to as in-store merchandising and is the process of displaying or presenting products beautifully. Like everything else, it requires planning in matters relating to quantity, location, price, and timing. The idea is to secure the right displays at the right time and the right place. Also, you might need to offer discounts or gift hampers for some products to stimulate your customers to buy. In-store merchandising solutions are a perfect way to encourage customers to buy more products in your store.
If you look around, you will realize that some businesses are doing so well in their merchandising as others lag. Why? It's simple; because one of them is doing it right and the other is doing it all wrong.
The difference between a successful retail merchandiser and a failure is in their implementation strategies. Indeed, there are so many merchandising strategies, and they are all perfect. Not all will work well for you. One of the biggest mistakes people make is assuming that any merchandising strategy will work for them only because it's working for someone else. That couldn't be any further from the truth. All businesses are not the same, and their needs might vary from one to another. Take your time to understand your needs to find the right merchandising strategy or strategy for your business.
That said. Below are 5 of the most common in-store promotion ideas proven to work by the majority.
Before you even think about anything else, first look at your shelf. How does it look? If it's anything less than incredible, then you have some work to do. Remember, this is the point where most buyers will make their final decisions, so making it undeniably beautiful is very important.
Once you secure your shelf, you need to look off the shelf to see whether there is any potential. That will come in handy to attract and convert unaware customers to boost sales. For instance, you can use Cooler Displays or even secure more facings to make your products more visible.
If your competitors are doing better than you, that means there is something they are doing right, and you are not. Find out what that is, then use it to your advantage. Your goal should always be to stay ahead of your competitors.
Use data to find out store velocity and volume for all your locations to inform your in-store promotion ideas. Ideally, you need to focus more energy on the retail locations that are generating high traffic.
According to statics, only 50% of in-store displays are compliant; the others aren't. You can change that by building solid relationships with retailers. If they like and respect you, they are more likely to do right by you.
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