As a business owner or manager, you need to constantly find creative ways to increase your sales and profits. Incorporating successful merchandising ideas into your retail business is one of the best ways to encourage your customers to spend more time and money in your store. Merchandising is the key to increasing the performance of your products, establishing loyal customers and encouraging impulse buys.
Here are four of our favorite merchandising tips that are guaranteed to sell products:
Customize your Customer’s Shopping Experience
Customers don’t want a generic shopping experience with the same products they can find anywhere…they want a curator. You know your customer better than anyone and should buy and display the products you think they would be interested in. Organize them in a way that feels custom and unlike the traditional displays they could find anywhere else. For snacks, keep five to eight of each product on the shelves, but show variety in color and packaging. Limit high-end items to two. Merchandising pros refer to this as the “one to show and one to go” rule.
Lead Your Customer
Think about how your customers will be using the products. For snacks, consider displaying them with other picnic items. It’s a great way to cross-merchandise and can really boost sales. It engages the customer with your products and similar items that they are familiar with.
Keep It Fresh
While it’s always good to keep a base of standard strong sellers in stock, fresh new products and displays are necessary to keep your sales on the uptick. Update inventory and displays frequently to keep repeat customers coming back to your store in search of a new find. Holidays are great reasons for new displays. Outside of the traditional holidays and large events, think about less obvious ones like Cinco de Mayo and Kentucky Derby to highlight products and have a fun display theme.
People Love Free Stuff
Never underestimate the power of sampling. Give customers a chance to taste your products and opportunities to ask questions. It gives your staff an opportunity to inform customers about your products and is probably the best merchandising tool a store has. A sample section can create buzz and motivate customers to return to see new items. It can also build trust with new customers, showing that you’re are willing to let browsers sample products before making a purchase.
Merchandising Quick Hits
• Shoppers tend to stay to their right-hand side when they enter a store, and continue walking along the perimeter to do much of their buying
• 77% of consumers find it useful to have commonly purchased products together
• 60% of purchases are made in less than 30 seconds
• Snacks placed in a heavier flow of traffic and at eye level ensure maximum exposure
• Always place new items between top-selling items