Retail merchandising refers to any business that sells products in a physical store. Beyond that, it’s the experience that you create in your store to generate sales and engage customers. This is important because an excellent retail merchandising strategy can significantly increase consumer interest and sales. Here are our 5 tips for retail merchandising that are sure to take your business to the next level.
1. Think About Your Target Market
Every part of your store should reflect your brand and appeal to your target market. It’s important to make sure that every inch of your store pulls in potential customers that fit your key demographic. For example, if you own a boutique bookstore, your product displays should reflect the theme of your book categories. If you are selling valuable used books or first editions, you may want to employ an antique or classic décor. This will reinforce your branding and capture the attention of your target audience.
2. Consider Your Decompression Zone
The decompression zone refers to the first 10 feet of your store. This is the area where potential customers leave the outside world and enter your world. Essentially, the decompression zone is a magical space. We recommend keeping your decompression zone clean and free of any clutter. This will translate into a clear mindset for potential customers. While you should steer clear of any overwhelming décor here, don’t be afraid to place an attention-grabbing display in direct eyesight. And remember that a warm welcome is always appreciated.
3. Offer Curbside Pickup
Curbside pickup is one of the best things to come out of the COVID-19 pandemic. This advancement has made shopping so much safer and more enjoyable for consumers. Every day, people take advantage of curbside pickup options at their favorite stores. If you haven’t already added ecommerce to your website, now’s the time! Now more than ever before, people expect convenience from their favorite brands. Take the plunge and make shopping even better for your audience with a strong web/online presence.
4. Be Strategic
One of the best tips we have for retail merchandising is to strategically place products throughout your store. Typically, a shopper’s interest and enthusiasm fades as they move through your space. This means that people will focus most of their attention on the items placed closest to the entrance of your shop. We suggest placing your newest or best-selling products at the front to encourage sales. BONUS TIP: If you are looking to re-engage shoppers in your store, consider placing sale items towards the back.
5. Stay Fresh
We all know that keeping things fresh and up to date is essential for success in retail merchandising. In order to create a sense of excitement and intrigue, you’ll need to constantly change things up around your store. New displays, store reorganization, and fresh paint are all great ways to generate interest among your customers. Doing these things will be especially helpful when you receive ne products, the seasons begin to change, or if you notice a dip in sales.
Creating a successful retail merchandising strategy can take a lot of energy. Although it requires a lot of planning, it is an essential part of the shopping experience. Of course, the most important element in any retail merchandising plan is the physical location. If you are in need of a new space for your shop, consider one of our three locations! Madison Corporate Group has retail properties available in both Glen Ellyn and Crystal Lake. Visit us online and fill out our contact form for more information on our available properties for rent.