Better Merchandising Retail Products
When managing a retail business — grocery store, clothing outlet, book shop — you’re first measure to guarantee you garner the attention from customers is through proper merchandising.
Merchandising, which is the active promotion of retail goods through the methods of presentation, is an important, yet often overlooked, part of working as a manager in a retail business. The most effective retail worker is someone who spends their day thinking as a customer, checking display racks for how items are placed. Furthermore, you should be aware of how products look around the storefront, how are they being displayed, does the store look clean, and more.
By putting yourself in the shoes of a customer you are bettering your chances of selling your products better than if you were not, as you are arranging (merchandising) the storefront so that it is more appealing to a customer. Or, in the case of a daily/weekly/monthly sale, you are arranging items on display racks to better highlight them to an incoming shopper.
Studies and data go to show that the methods of merchandising are tried-and-true:
- A customer makes a decision to purchase an item against a competitor’s in the matter of 3 to 7 seconds — merchandising will make one product stand out compared to another
- Between 6 to 10 purchases are made in-store as impulse buys — items merchandised on display racks, with custom glass door signage, or with product stands will better highlight them to adventurous customers
- 86% of customers say they will pay more for a better experience — a store with creative retail display ideas, unique display racks, and updated brochure display racks will stand out when compared to a store that doesn’t
- 82% of in-store purchases are made on the spot — good merchandising will better the chances of a product being sold
- A product with signage with sell 20% better than the same product without signage — merchandising your product on proper display racks, custom glass door signage, or clear price tag sleeves will allow consumers to spot the product with ease
When selling a product, your number one goal should be to capture a customer’s attention. In particular, a customer should consider buying a product when they hadn’t considered to, especially upon entering the store that day. By properly displaying an item or a set of items, the sale price of said item(s), and offering a creative display set — bright colors, marketed items from said company, and more, you are increasing the chances that a customer will be interested in a product that you are actively merchandising to them.