Merchandising Incremental Products

Posted on: August 23rd, 2017 by Rob Baumhover

 

Why Merchandise? 

So far, we have discussed how to select the right incremental products and the importance of a fully trained staff for the success of selling cash products. Now, let’s dive into the merchandising of those products and how merchandising does, in fact, help sell a product.

Many customers are focused on store experience, merchandising is one element that aids in creating a great store experience for your customers. Customers today expect to come into a clean and well-organized store, and when they don’t it really turns them off. I would be willing to put money on some of you, as customers have even walked out of a store because it didn’t meet your expectation. I know, I have. Studies show, the more comfortable someone feels in a space the more likely they will spend there, and the longer they stay in your retail store, the better the chance you have to maximize sales. Let’s maximize those sales and look at a few tips and tricks around merchandising your space, so you can better catch your customer’s attention and make them feel comfortable and welcome.

Tip: 

Merchandise all like products into categories (ex. all CPAP items together), this creates a “mini store” or what I like to call, “a store within a store.” By organizing your store like this, it makes it easier for your customers to identify quickly where they need to go for specific products. Next, it also gives your customer a chance to snag related products, effortlessly, in one location.

Next Steps:

Once all products are allocated together, creating a store within a store, retailers should focus on displaying their products. Here are a few tips centered strictly around visually appealing displays.

First, you will need to determine what you display your products on. Do you have the proper fixture or should it be something you invest in? Don’t use whatever fixture you have or one you picked up at a sale, make sure the products fit the fixture. It’s a complete eyesore if the product doesn’t fit the fixture it sits on and your customers will definitely notice too.

Secondly, you will need to rank the items from best to worst sellers. If you do not have any numbers to go off of due to a new product or product line, use your resources! Vendors, or us, at VGM Retail, are usually readily available to assist. The reasoning behind ranking your best and worst sellers is to give yourself a starting point for the layout of your the space. Remember, place better sellers towards the top of a display, followed by the middle sellers, and then lower sellers at the bottom.

Third, the fun part! There aren’t too many wrong ways to place a product, some people may strip the sections, others may block. Stripping the section means you’re going from top to bottom vertically while, blocking means from top to bottom horizontally. There is also what is called a tiered or waterfall effect, here you start with the smaller items at the top and as you move downward the items get bigger. I personally use all the techniques and believe it’s okay to use all throughout your store.  Just remember to obey the most important rule, always keep your best sellers at eye level.

Fourth and finally, make sure to always merchandise any add on’s (ex. batteries), next to the anchor product. Feel free to display an item or two if space allows. This will give the customer a chance to touch and feel the products. However, make sure not over display a section, as this can cause a cluttered section. I try to keep it to 3-5 displays per 4′ section. To finish off the section, always have a category sign. This will make the section visible to the customers to see and locate quickly. Lastly, do not forget to price the products because there is nothing more frustrating than not knowing the price on something and having to ask.

It’s a Wrap- 

Thank you for reading my latest blog on merchandising. I encourage you to be on the lookout for the final blog in this series highlighting ways to market your new incremental products.

For additional questions, please feel free to reach out to me using my contact information listed below: 

Rob Baumhover

Director, VGM Retail & Vendor Programs

[email protected]

855-831-8470

 

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