In the world of retail, strategy is everything. Spend is directly tied to retail merchandising techniques and that means shop owners need to get creative if their mission is to maximise customer spend. Luckily, there are a number of tried and tested tactics with the power to get your customers spending more, and more often – and we’re about to let you in on some trade secrets so you can find that all-important sales boost for your store.
- Impulse effect – Impulse is a powerful thing – and if your retail merchandising can manufacture a sense of urgency, sales are all but guaranteed. Your impulse purchases section – which should be found on the route to point of sale – is the ideal location for smaller and supplementary purchases that offer an affordable, last-minute addition to their shopping basket.
- Sales illusion – the sale effect is an age-old merchandising technique proven to impact on sales. Not only will ‘sale’ items – regardless of any real or perceived reductions – sell like hotcakes with the right limited-time-only promotion, but even the mere concept of a sale is enough to drive spend on products store-wide. Sale or no sale.
- Bulk culture – one clever way of increasing customer spend per visit to your store is by capitalising on bulk culture. By presenting your products as part of a larger collection of items, promoted as a money-saving opportunity, customers will jump at the chance to get their hands on the whole set if there’s a saving in it for them by doing so.
- Margin mapping – High-margin products should be given the prime placement they deserve – and by adhering to the retail merchandising commandments, you can be sure to reap the benefits of those margins. Placing high-margin items near the entrance to your store guarantees they’ll be noticed – and maximises the chance of them filling up your customers’ as yet empty baskets.
- Sensory power – Introducing an extrasensory element to your store is an effective way of driving bigger sales. Your customers’ sense of smell is key to their buying behaviour, with products like baked goods and flowers activating salivary glands when placed near the entrance. Being able to appeal to the consumer’s senses gives your shopping experience an additional dimension – and triggers impulse purchases to great effect.
- Restricted access – The best way to guarantee your customers buy your products is to first guarantee they see them. One classic retail merchandising trick is to keep everyday essentials at the very back of the store, ensuring that customers will travel from one side of the shop to the other before they find them. This way, they won’t leave the building without an eyeful of your inventory.
- Line of sight – Your customers’ eyeline is a primary influence on their buying behaviour – and should be a key consideration in your merchandising strategy. Big ticket products should be placed on the eyeline, ensuring that they’re seen without needing extravagant promotional displays. You don’t want shoppers to have to work to find your products – so take the necessary measures to be sure the only place they’re looking is exactly where they’re supposed to be.
If you’re after the secret to sales, you’ve found it. This comprehensive checklist is the key to airtight retail merchandising, guaranteeing that your store is mapped for profits – leaving you to sit back and reap the benefits.