Your Retail Coach
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How to do Visual Merchandising for your Retail Store
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Introduction
Know Your Customer
Products on Display
Store layout should be perfect Premium shelf space
Bundling is important
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It is show time
Change is the only constant
Product specifications
Avoid stock-outs Strike the right balance Summary
1. Introduction Your Retail Coach
As Marty Neumeier once said, “Branding is the process of connecting a good strategy with good creativity” Visual Merchandising is an ideal blend of these two things since it involves strategizing about ways to sell more by showcasing your creativity in your retail store What customers can see is what they will buy, it becomes the primary responsibility of the owner or manager of retail business to show the customers what they are looking for Half the battle is won if customers enters your store, the other half depends on your products and sales skills
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2. Know Your Customer Your Retail Coach
Customer is King is the first lesson taught in marketing As a retailer, you should be aware of your target segment and the customers in that segment You need to add value to customers buying journey by knowing upfront what he wants and pitch him the same The best way to know your customer is just by interacting with them and getting to know their liking
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3. Products on Display Your Retail Coach
Place your products on display based on customer’s interests The display becomes very crucial in the entire exercise of visual merchandising to attract more footfall and boost sales Keep changing your display regularly and try combinations based on your customer segmentation
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4. Store layout should be perfect Your Retail Coach
The placement of your merchandise, use of the store space, the furniture and fittings, the billing counter, and almost everything that gets noticed should catch the eye of customer Planograms, which is a visual merchandising tool, can be used for optimum space utilization and encouraging sales There should be enough free space in the store for personalized attention to each customer and his needs
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5. Premium shelf space Your Retail Coach
Customers will only focus on what there is in their visibility on the shelf in front of them Customers do not like to bend to the bottom row to see a product or go on his toes to check the product on the topmost shelf
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A study was done by the University of Chicago which says that moving juice bottles from the worst visibility location to the best location increased its sales by 79% This premium placement can be done by being in good terms with the retailer and asking for premium spots even by paying some extra dollars
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6. Bundling is important Your Retail Coach
This is another key merchandising technique to sell more both in terms of volume and value Make combinations of denim and shirts that complement each other or try putting beverages with chips, etc. which saves customers’ time and incentivize him to buy more from you You can also create some categories of your own from the past sales data
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7. It is show time Your Retail Coach
Good lighting in the store, the color of the décor, and soothing music that is not loud impress customers It enhances the credibility of the store in more than one way and music in the background subconsciously keeps the customer engaged Using spotlights which are focusing on the best sellers or new arrivals drive customers to have a glance on these products
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8. Change is the only constant Your Retail Coach
This is an essential lesson of life that is commensurately pertinent in the retail space Business owners can play with what is on the display replacing it with new inventory, keep changing the dummy’s attire, tweak your store layout, switch the music genres, change the light setting by adjusting its brightness levels These are some of the things which you can change to expect better results and internally track your sales performance after every change
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9. Product specifications Your Retail Coach
You would not want the customer to keep searching for the price tag on the product he is looking at Attach a note citing the product’s specifications with other important information to the product The devil lies in the detail and to build and nurture your relationship with the customer, inform him about all the necessary details
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10. Avoid stock-outs Your Retail Coach
This is the last thing you would ever want as a retail business owner A customer liked something which is not available in the store, or his size is out of stock In such a scenario, your customer will turn to your competing brand or store This is one of those situations which retail consulting will ask you to be cautious about
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11. Strike the right balance Your Retail Coach
There are other visual merchandising techniques apart from the one mentioned which the retailer can try
But this goes with a caveat that not every strategy will work perfectly for your business
Retail business should strike the right balance with all the merchandising tricks to create the perfect synergy which will work wonders for your business
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12. Summary Your Retail Coach
These were YRC’s 10 best tricks for visual merchandising for you and your business to be future-ready in this much-hyped VUCA (Volatile, Uncertain, Complex, and Ambiguous) world we live in There are some other visual merchandising techniques as well to drive your sales, but YRC chose the best of the lot to help you with your retail business keeping in mind the best practices in visual merchandising
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For further details and fulfilling your consultancy and SOPs needs, please visit us at
https://www.yourretailcoach.in/how-to-do-visual-merchandising-for-your-retail-store/
https://www.yourretailcoach.in/
https://www.businessprocessxperts.com/
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