Have you ever walked in to a store to buy one particular product and came out with two bags full of stuff, only to realise you forgot what you went in there for in the first place?
This is the sign of a store with an excellent visual merchandising strategy. Learn how to capitalise on every buying opportunity with these tips.
While organising your products for optimal performance is important, the most meticulously detailed items in the store should be your inventory records. It is important to know why you are ordering a product, what it will replace and when it will be delivered so that you can place it prime position to generate sales.
Something as basic as the shelf you place your items on can be the difference between a sale and a missed opportunity. Just as it doesn’t make sense to place children’s cereal on the top shelf, nor does it make sense to place milk at the front of the store where a consumer can easily run in and out without noticing what else your store has to offer.
3. Complementary purchases
Most retailers know that pairing complementary items together creates the opportunity for add-on sales – but what happens when you order a shipment of matching dinnerware from two different outlets and they are delivered on different dates? Even a few days of an incomplete display can lead to missed revenue through add-on sales.
Pay attention to every opportunity to link items together and don’t get tripped up by the logistics of making that happen.
4. Tis the season…
Playing to your customers emotions is the fastest way to build a connection with them. Seasons, smells and holidays are linked to memories and conjure up the feelings that lead to buying activity.
Make sure that you are catering to this need and taking every opportunity to surround your customers with the items of the moment.
5. Eye-catching displays
For seasons or holidays that mean extremely busy periods for your store, you may want to create an elaborate display that features certain products so that they will be brought to the customer’s attention.
Results from research carried out by the Russell R. Mueller Retail Hardware Research Foundation shows that using a display in a retail environment can increase sales by around 540 per cent, and a well placed hotspot can increase sales by 229 per cent.