Merchandising
Showcase your products
By Amanda Baker
Merchandising is one of many great tools used by successful businesses. The first thought that may come to mind is how to accommodate your own business with the proper style or form of merchandising.
Merchandising Similar Items
The most important part to beginning an effective merchandising plan is to allow similar items to be within a defined section of your merchandise plan. In other words, if you have a section of your business that caters to baby needs, you should allow for this department or location to be closer to other items that would flow well with this “Baby Needs” section. While it may seem endless in point, there are many times when retailers make the mistake of placing important items out of the consumer’s immediate shopping direction.
Promotional Merchandising
The second step to effectively displaying merchandise is to implement varied merchandising as well as promotional merchandising. This step is often used in retail merchandising, and incorporates the use of promotional or special items that are placed around similar product. Also, placing smaller and individual-sized promotional merchandise can be a sure-fire way to showcase products that many consumers may not want to buy in large quantities.
Visual Merchandising
The third area of merchandising that should be looked at is your visual set-up – in other words, your visual merchandising. Between linking similar items, varying product and showcasing promotions, it’s a good idea to keep your product visually appealing. While it’s a good practice to have similar items located close to each other, it’s impossible to have every similar item bogging down one or two sections of your sales floor.
This is where all three steps to merchandising come together and play a vital role with one another. While you want your merchandise to mesh well in its set-up, you also need to effectively place items that are most similar or linked near one another – but you also want things to be visually appealing. As you view the general sections or isles of your sales floor, you will begin to see where items can be placed, including promotional and specialty products.
Closeout Merchandising
Last but not least is closeout merchandising. Closeout merchandising is a way to showcase items that are no longer going to be carried, and it’s a highly effective way to move those products. While it may be quite effective to have a certain area for closeout items, it’s not always as simple as grouping them all into one space.
The most effective way to display your closeout stock it to keep it near similar items, but give it its own special area. Items that are marked well, and stand out as closeout merchandise often attract bargain shoppers. This practice, in particular when matched with the implementation of varied and promotional merchandising, will keep your customers coming back for more.
There are many areas to think about when looking at an effective merchandising plan. Keeping in mind these tips on product placement, as well as efficiency and consumer happiness will allow for a great merchandising plan, and ultimately an effective and successful business.
