Retail Merchandising Strategies to Boost Sales and Inventory
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Enhancing Product Appeal
Make products more colorful and enticing to drive sales.
Objectives
- Clear excess inventory by adjusting lighting and pricing.
- Enhance product familiarity.
- Highlight new product features.
- Indicate special offers.
- Break the monotony of linear displays.
Enhancing Inside and Outside the Linear
Enhancements Within the Linear
- Stack Effect: Implement a mass of products to attract attention.
- Shelf Level Changes: Alternate the shelf levels where the product is placed (End-cap).
- Specific Exhibitors: Use glass boxes or specialized furniture.
Linear Kick-off
- Gondola headers.
- Islets in the hallway.
- Corner displays (typically cold areas of low value).
Promotion Types
- Product Promotion: Focused on specific items.
- Establishment Promotion: Focused on the store brand.
Action Definition: Keep it strong and concise.
Product Lifecycle Promotion
- Stage 1 (Introduction): Promotions to attack from a product perspective.
- Stage 2 (Growth): Gain positions against the competition.
- Stage 3 (Maturity): Used exclusively as support work.
- Stage 4 (Decline): The difference between disappearing or remaining on the market. Offensive tactics to prevent product death.
Promotion Organization
Considering 3 stages and 10 actions:
- Preparation: Planning, information, provisioning, and recovery.
- Conduct: Presentation, point-of-sale (POS) advertising, and animation.
- Follow-up: Control, analysis, and remanence.
Trade Promotion
Aims to build or amend the business image, create a current of sympathy, and raise awareness of the trade.
Key Distinctions
- Manufacturer Promotion: Focused on the product.
- Trade Promotion: Focused on the dealer.
10 Rules of Promotion
- Promote a single product in the same location.
- Choose the right location.
- Create a mass presentation effect.
- Protect the base of the gondola head from shopping cart impacts.
- Ensure good product accessibility.
- Ensure construction strength to avoid collapse.
- Make the product easy to grab.
- Gather sufficient stock to meet expected demand and avoid stockouts.
- Place adequate, simple, and clear publicity at the point of sale.
- Remember to remove previous pricing.
Note: A successful promotion offers a suitable product in the right place, at the right time, under appropriate conditions, and with good value.