I love retailing, whether it’s prescribing the right products to colleagues and friends or dealing directly with clients. I appreciate thought-provoking displays, well-merchandised and easy-to- navigate shelves, and anything clever, thoughtful or a bit cheeky. On the other hand, I can’t help but cringe at retail revenue killers: products that are locked away; sad, half-empty shelves; dirty or empty testers; no visible pricing; unpassionate sales people; and tired looking signage. Love it or hate it, retail is critical to maintaining a profitable business, and proper merchandising is the key to retail success.
Let’s be clear, merchandising isn’t just about fancy displays or something the bigger department stores do. It is an indicator of your business image, an integral part of the customer experience and demonstrates an understanding of the way they shop. And done right, merchandising can increase retail revenue by 35%. By 2016, the global skin care market is estimated to reach $121 billion* with prestige products being the biggest growing category. Consumers are buying more skin care products than ever–there’s no reason they shouldn’t be purchasing them from you. Let’s make it easy on them and ourselves by putting our products to work. Follow these tips to swiftly see a positive shift.
1. The “Newness” Factor
Consumers seek out new retail experiences after just one visit to a store. They get bored easily, and are after something new each time. Change up your displays, windows, point-of-sale or feature table twice a month so clients have something to pique their interest every visit. This also gives you and your staff something new to talk about.
2. Turn Up the Music
Eight out of 10 customers buy more with music. Upbeat tunes will energize clients more than spa-like vibes, but keep it to background music to not overpower the rest of the shopping experience.
3. Cash Wrap = Easy Cash
Point of sale (POS) displays are responsible for 80% of the buying decision. These are impulse buys, so keep purse friendly items here like travel sizes, hand cream and lip treatments. It’s also a hot spot to highlight promotions and new products.
4. Light it Up
Good lighting for shelves and displays can increase sales by 25%.
5. No Price, No Sale
Without clear pricing, nine out of 10 times the sale will be lost. Customers do not want to ask or review a price list.
6. Customers Shop to the Right
The majority of the population is right-handed, so have your core product shelving and merchandising on the right of your space.
7. Eye Level is Buy Level
Merchandise best-sellers at eye level for quick easy navigation and sales.
8. Use Mirrors
Mirrors slow customers down, as we all like to look at ourselves. More time in the space equals more purchasing time..
9. Make Touch a Focus
Unplanned buying is reliant on touch. This is why luxe cashmere sweaters are stacked on tables. This means clean testers, mirrors and tissues on hand. Personalization, education and demonstration will take the experience much further.
10. Straighten Up
Products should be well-stocked and straight. Use a wooden ruler to straighten and even out products. Ensure testers are in front of corresponding products.
11. Call Out
Use professional looking visuals and signs whenever possible to enhance displays and to communicate your message.
12. Odds are In
Always display products in groupings of threes or fives, tallest to smallest, creating a pyramid shape. This will provide balance to your displays.