Today’s retail model is changing and companies are still figuring out how to best reach their customers. As a result, consumers are beginning to expect more from the products they buy. They want them to be ethically sourced, come in stylish packaging that doesn’t take up space in their home, and be made with sustainable materials. Consumers can use various online platforms to find the right products and to compare different options. This means that businesses may need to reconsider their retail visual merchandising.
The services for visual merchandising include store design and store fixture design. Store design is the overall look of their store, including its physical appearance, the products they carry, how they are displayed, and the products they choose to sell. Store fixture design refers to the way items will be displayed, i.e., how they will use fixtures, signage, lighting, and color to create an appearance that attracts customers. Dive into eight simple merchandising tips to help drive sales this year.
1. Don’t Overload Customers with Choices
It’s important to have a moderate selection of products in a store or customers will feel overwhelmed and won’t spend time looking around. There should never have more than 10%-15% of the total space devoted to non-perishable items (apparel, accessories, etc). By keeping less of each product on the rack, customers are more willing to browse through their store for longer periods of time and are likely to make impulse purchases.
2. Have a Wide Range of Prices
Having a wide variety of prices will encourage customers to spend more money. If there have products that people associate with luxury, such as high-end bottles of wine or designer handbags, people are more likely to make purchases of similar value when compared to products at lower price points. A good way to promote this without making it seem forced is by making sure that they’re located in prominent places in their store so they catch the eye of most customers.
3. Advertise Prices Prominently
It’s essential to make all of product prices as noticeable as possible. Be careful not to use so much black that it doesn’t look cute. Also, don’t forget about highlighting sales periods, such as holiday or back-to-school sales (especially when there are specific times of the year with a higher volume of customers). Make sure to avoid leaving out special deals that can be found in certain periods (such as those offered during the holidays), especially if they’re particularly attractive.
4. Don’t Use Too Many Words
At the same time, stores should be conscious about not using too many words on their products—this is especially true for supermarket products. Consumers are beginning to think about sustainable living and are increasingly more likely to pick something up if it has less packaging or more natural ingredients. To encourage this, it is ideal to have fewer words and simpler designs.
5. Don’t Promote the Brand Too Much
Businesses will likely lose some sales if they’re spending a lot of money on ads (especially if they aren’t very effective). Focus instead on the quality of their products, and make sure that it’s visible on the packaging and looks appetizing. Customers will be more likely to buy products that look appealing, and they’ll be more sensitive to price points.
6. Don’t Have Too Many Variations
The same goes for the packaging of products. If there have ten different bags, consumers will begin to lose interest. Make sure that the options are concentrated in three or four tops, to which more can be added if needed. At the same time, it is important to remember not to rely on variations alone: customers should be able to tell within a few seconds if they like the product by simply looking at its packaging or by trying it out in person.
7. Try Out Promotional Discounts
A great way to promote sales and drive customers to a store is through promotional discounts. Be careful not to be too stingy about these, otherwise there may be a lot of products left unsold. Make sure that the amount of money their spend on the promotion is proportional to the increase in sales their get out of it.
8. Keep it Simple
While many other factors contribute to a business’s success (for example, the location of their store), these tips should be a great place to start when thinking about how to increase sales. One way or another, a business will still want to keep the number of products they carry at a reasonable level and make sure that each one is carefully designed to catch the eye.
Another thing to note is that these are some merchandising tips, but they don’t work in every shop and all of them aren’t exclusive to retail. For example, there is a big difference between the nature of retail and consumer-packaged-goods. A consumer-packaged-goods (CPG) is a product directly sold to consumers rather than businesses. The packaging either comes off completely or remains nearly intact after the product is opened, such as food products and cosmetics.
Since many CPGs can be sold in small quantities, the packaging is often secondary to the product itself. For example, food products come in various packaging, and for the most part, can be consumed regardless of how the food is packaged. Retail businesses are different because it is harder to sell a product without making sure that it looks presentable and is carefully wrapped up. In other words, retail should focus on both the product and its packaging, while CPGs should focus more on the product rather than its packaging.
Visual Merchandising Group
To get the best visual merchandising, store design, and display design services, a retailer may want to hire a visual merchandising group. Their goal is to create sales and drive traffic into their client’s store. They work closely with them to make it happen.
Many clients come to a visual merchandising firm after trying other firms and have not been happy with their results. In the case of store design, they have found that another firm’s design will often create an off-putting appearance and make customers uncomfortable in their store. Furthermore, product packaging is a key component of a store. Visual merchandising firms bring these together so that items are presented in a way that is attractive to both their customers as well as online buyers.
Hire a Retail Merchandising Expert to Boost Sales
Retail merchandising is an art that requires lots of skill, talent, and experience. It takes a lot of time to learn from one’s mistakes and perfect their skills in this field. However, if business owners keep in mind the tips mentioned above and apply them to their products, they are certain to see a significant increase in sales.