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The changing face of merchandising and what retailers need to do to succeed

The changing face of retail merchandising requires retailers to go beyond tried and tested tactics.

Photo source: istock.com

December 9, 2016

ByTegan Denwood

In retail, there's no space for standing still and when it comes to increasing in-store sales, innovation is everything. Boosting profit margins doesn't have to mean overhauling your entire business, small yet significant changes can impact on sales while keeping upheaval to a minimum.

Today, we're looking at the changing face of retail merchandising and why it's not enough to rely on tried and tested tactics —as well as bringing businesses actionable tips for upping their game for the remainder of 2016.

Product placement

Unlike other retail merchandising tactics, product placement will be a crucial factor when it comes to in-store sales. Providing customers with easy access to products can be the difference between increased basket spend or customers leaving your store empty handed.

Before they even enter the store, you can gain potential customers' attention by designing eye-catching window displays that promote special offers. This allows them to see a snippet of what's on offer before they enter the building, meaning passers-by are more likely to head in-store. While attractive window displays will command attention, value-for-money products and special offers shouldn't be excluded in the name of aesthetic appeal.

As well as looking for value for money, customers are looking for an easy shopping experience and this means baskets, trolleys and sales assistants should all be easy to locate. Try scattering baskets at opportune areas throughout the store — giving customers the option to pick one up if they decide to buy more items than they originally intended. In order to ensure all customer queries are dealt with as efficiently as possible, place a staff member at all high traffic areas in your store. This will remove the need for customers to search for a sales assistant and make them more likely to revisit your store.

Seek out upsell opportunities

From offering extended warranties to additional add-ons, when customers purchase specific products, upselling can be a great way to boost sales. Customers like to feel like they're getting a service unique to them so going that extra mile can convert to increased sales at the till point.

In a world dominated by technology, retailers are seeking fresh and exciting ways to stay ahead of the competition curve — offering their customers what other stores can’t. From online shopping and easy-to-use apps to stock checking and contactless payment options, retailers are moving forward with technology, and to ensure the future success of your store, it's crucial your business does too.

By giving customers a reason to spend longer in your store, you're more likely to see heightened sales as they have more time to think about which products they want or need. Whether it's the use of tablets, iPads or another form of tech, by allowing customers to check stock levels, they can take control of their shopping experience. This could potentially lead to future sales, rather than having customers leave your store disappointed because you don't have the product in stock.

The power of point of sale displays

Your store's merchandising doesn't have to stop once customers reach the till point. In fact, this is the final opportunity to make a sale. That means product promotion here can have a greater impact than anywhere else in your store. Point of sale displays at the till point can draw attention to products that might have otherwise been overlooked, as well as helping fast-moving products to fly off the shelves.

In particularly busy stores, customers are often standing around waiting to be served so make sure there's something on hand to catch their eye. Effective visual merchandising can influence a customer's spending habits, so make the most of all areas of your store. Whether you’re adding customized dump bins or incorporating counter top leaflet stands into your marketing methods, finding a way to encourage those last minute sales can see your profits soar.

Tegan Denwood is a content writer for shop4pop.com, providers of big brand printing for all budgets.