The fashion business has many stages. It starts from manufacturing to distribution supplier, and the finished products finally reach the target audience. However, the most significant part of this supply chain is retailing. It serves as a conduit between the manufacturer and the target market.
Retailing is extremely important for the success of a business. More so in the fashion business due to its dynamic nature. It may be right to state that in the fashion industry, the retail sector dominates the supply chain.
The retail industry is rapidly changing. There is a huge change in how customers shop. There's a shift from small local retail outlets to multibrand stores in malls to online stores.
There's so much competition everywhere that brands need to make the best use of their retail space to impact their customers’ minds. Brands should focus on selling not just products but experiences. When the customers leave the store happy, they are more likely to return. This is what Retail merchandising is all about.
Retail Merchandising is the practice of showcasing the products of a store It is done in a way that attracts the audience's attention and generates sales. In large stores, the window display is a non-verbal communication between the retailer and the audience. It entices them to enter the store and make a purchase. Therefore, retailers should focus on displaying their best products to highlight their best features.
If done right, Retail Merchandising can lead to the success of both the retail store and the clothing brand. There are five R’s when it comes to Retail merchandising. Retailers can follow them for the success of their stores-
The success of retail stores is crucial for the success of the clothing brand. Here are the 12 Best Retail Merchandising practices that retailers can follow for the success of their stores-
Visually attractive window displays, with the correct product placement, can be an asset for the business. Proper lighting and eye-level display should be incorporated. Props can be used where needed. However, the products should always be the highlight of the display. Retailers can hire a styling manager to overlook the window displays. This way, they can display the products and give styling tips to buyers.
Conveniently placed signages help customers navigate the store in a better way. Retailers should not just focus on selling their products. They should strive to create a positive shopping experience for the customer. Including informational signages in strategic places helps customers easily locate the items they need.
Statistics suggest that the strategic display of complementary items can increase sales by nearly 20%. Retailers can place t-shirts and tops next to the jeans section. This way, customers are more likely to pick a new top with their newly purchased jeans. Socks can be placed next to the shoe section for increased sales.
A good, helpful, friendly in-store staff can help customers gain a positive shopping experience. They should be trained to be attentive to the customer's needs. They should also be \knowledgeable enough to put their queries to rest. The support staff at fashion retailer stores should also understand fashion trends and color pairings. This will come in handy to assist customers in making the right decision.
It is the perfect way to attract the attention of today’s tech-savvy customers. Incorporating in-store techs like tablets and interactive screens can help customers make the right choice. Interactive screens help people choose the right fit for their body type or provide tips to accessorize. They also help with cross-selling.
Everything from the lighting, sound, smell, and hygiene should be on point in a retail store. A neat, decluttered environment will attract more customers. The lighting shouldn't be too harsh or soft. Soft and slower music is known to cause buyers to spend more time in the store, increasing sales.
Customers are more likely to buy the product after trying it on themselves. Retailers can provide safe and comfortable trial rooms as a strategic move to increase sales. It is one of the easiest and most effective retail merchandising practices to follow to increase sales.
Retailers should always track which products in their stores generate more sales. They can use Key metrics such as KPIs ( Key performance indicators). This way, retailers can focus on stocking up on these products that bring more sales. This will also help the retailers manage inventory according to market demand. KPIs need to be monitored regularly. There can be a sudden shift in the sales of a particular product due to the dynamic nature of the fashion industry.
Involving customers in creating a merchandising strategy is the most effective way to ensure its success. Brands are now realizing the importance of customer opinions and leveraging them to create effective merchandising strategies. Opinion polls and questionnaires are the best way to understand the customers’ needs. Brands can create a winning strategy around them.
Attractive retail displays that add to the shoppers’ experience are a rage in the retail sector nowadays. Large life-size models or appealing props like neon signs create a picture-worthy background for shoppers. Some retail stores even assemble a small cozy set-up that resembles a table at a coffee shop or a living room corner. All these create pleasing ways to showcase products.
Retaining customers is ever so vital in today's highly competitive field. Customer loyalty programs like discounts on recurring visits or redeemable points on every purchase ensure frequent visits and brand loyalty. Retailers can also create a personalized shopping experience for their regulars by understanding their preferences.
Multi-brand stores have to look into brand compliance that concedes to company standards. Things like product displays, shelf placements, and special offers dictated by the company should be followed. Effectively following the retail merchandising strategies and keeping track of in-store data can help the retail store's success.
The right retail merchandising strategy is essential for brand success. Ensuring proper retail strategies can help brands increase sales and create a loyal customer base.
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