Retail Merchandising Insights

Top Retail News for This Month

Posted onAuthorericw@specialtystoreservices.com

 

imagesAs you prepare your stores for the holiday season, don’t forget to stay up-to-date on retail news and trends. The weeks will get busier and busier, so you want to make sure you’re well-informed and discovering new ways to display and sell your merchandise. To make your life a little bit easier and help spark some creative ideas, here’s some top retail news from this month:

Visual Merchandising

Retail Trends

I’ll leave you with a great quote to end the week:

“If eyes are the windows to the soul, then shop windows are just as revealing. They reveal the soul of the shop.” –Debra Templar, retail business coach

Need a little more inspiration? Our team of talented and creative project managers and customer service representatives can help with anything from store planning to fixture design. Call today at 800-999-0771 or visit our website: www.specialtystoreservices.com.

Learn from the Best: Thoughts from Famous Retailers

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During busy weeks, it’s helpful to take a few minutes to stop, think, and improve. There’s always something to learn, from improving customer service to building a stronger company culture. Here’s some inspiration from some of the top leaders in retail to start your week off well:

“In the end, the customer doesn’t know, or care, if you are small or large as an organization…she or he only focuses on the garment hanging on the rail in the store.” –Giorgio Armani, Founder of Giorgio Armani 
 
“Our mission statement about treating people with respect and dignity is not just words but a creed we live by every day. You can’t expect your employees to exceed the expectations of your customers if you don’t exceed the employees’ expectations of management.”–Howard Schultz. CEO of Starbucks

“If you do build a great experience, customers tell each other about that. Word of mouth is very powerful.” –Jeff Bezos, CEO of Amazon
 
“If you’re a big-picture guy, you’re not in the picture. Retail is detail.”  –James Sinegal, CEO of Costco
 
“The secret of successful retailing is to give your customers what they want. And really, if you think about it from the point of view of the customer, you want everything: a wide assortment of good quality merchandise; the lowest possible prices; guaranteed satisfaction with what you buy; friendly, knowledgeable service; convenient hours; free parking; a pleasant shopping experience.” –Sam Walton, Founder of Walmart
 
“We believe that customer service shouldn’t be just a department; it should be the entire company.” –Tony Hsieh, CRO of Zappos.com
 
“Your vision is very important. You should know whom you’re selling to, what your marketing and advertising says about you, and whom it’s speaking to. Me personally, I don’t try to please everyone. I understand who I am selling to and I work towards that vision all the time.” –Ralph Lauren, Founder of Ralph Lauren
 
“The friendly smile, the word of greeting, are certainly something fleeting and seemingly insubstantial. You can’t take them with you. But they work for good beyond your power to measure their influence. It is the service we are not obliged to give that people value most.” –James Cash Penney, Founder of JCPenney
 
“What is good for our customers is also, in the long run, good for us. “ –Ingovar Kamprad, CEO of IKEA
 
“Those department stores that have survived the decades did so by keeping pace with customer needs and preferences.” –Terry Lundgren, CEO of Macy’s

 

Visit our website today or call us at 1-800-999-0771 to find out how Specialty Store Services can help with your store fixture and display needs. Maybe in a couple of year we will be quoting you too. 

Smart Retail Choices: 4 Considerations When Building a Store Fixture Budget

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The decision to buy retail store fixtures is a fairly easy one—you’re going to need to buy fixtures at some time or another to keep your store going. The hard part is deciding how much to spend and what to buy. Fixtures are the backbone of your business, and you definitely want to get the highest ROI from them as possible.

As you build your fixture budget for the holiday season and upcoming new year, there are some important factors to consider:
1.      Current Store Sales
What do store sales look like right now? If sales are flat, it’s probably time to look into a store makeover. Adding some more polish and excitement with custom fixtures may be just what your store needs to attract more customers. You definitely don’t want to break the bank buying new retail fixtures, but it’s important to have good-quality fixtures that reflect your store’s branding and accentuate your merchandise.

If you have multiple stores that are suffering from low sales, try testing new fixtures in one of them. Do a complete transformation of your store’s look, and keep a close eye on how sales perform and customers react. After the test period, your findings should help you decide how much to invest in store fixtures for your entire chain of stores.

2.      Design Options
Having a small budget doesn’t mean you can’t invest in high-quality retail store fixtures. It just means you have to be smart about what design you choose. Find or create a versatile fixture design that can be easily adapted to your floor space and work for multiple products. This approach gives you a double-win—you end up with fixtures that create a cohesive look throughout your store, and look great when it comes time to roll out new merchandise.

A large budget is easier to work with, but you still need to be smart. Versatile displays and fixtures are good choices, but also consider developing a custom-made display for a special piece of merchandise. A display or fixture made specifically for one product can really help that product stand out and appeal to customers. 

3.      Type of Material
Different materials come with different price tags. If you like the look of a certain material, like wood, and are working with a small budget, ask your fixture supplier if they have less expensive options that have a similar look as wood. Metal is always a good choice—it adapts well to other fixtures, is durable, and is less expensive than many other materials. With a larger budget, choosing a material like wood may be a special touch that your store needs to stand out. Choose a material that supports your store’s brand and creates a store atmosphere that appeals to your customer base.
4.      Level of Maintenance
How much work do you want to put in to keep your store fixtures looking clean and presentable? Probably not very much since the store employees are already busy helping customers and putting out merchandise. When you start planning out your fixture budget, make sure you’re looking at store fixtures and displays that are easy to maintain. A fixture that requires daily polishing, cleaning, and dusting might not be the best choice for a busy staff—especially during the holidays. Talk to your fixture supplier and get their thoughts on what materials and designs tend to be the easiest to take care of.  

 

Find out how Specialty Store Services can help answer your store fixture budget questions. Call us today at 1-800-999-0771 or visit our website for more information and a FREE store fixture consultation.

Impact of Store Layouts

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A store’s layout has a huge impact on its performance. It is important to constantly evaluate how the layout is working and how fixtures work as a whole. The layout of a store should welcome customers in with attractive displays arranged in a cohesive design. I will discuss ways to draw shoppers into you store with attractive displays further below, as well as how to evaluate floor space performance. In addition I will discuss ways to improve the shopping experience, making it easier and more shopper-friendly.

DRAW SHOPPERS IN

Use your fixtures to create eye-catching displays in store windows and at the front of your store. These displays are important to initially grabbing shoppers’ attention. Often the customer experience begins the minute a shopper sees your store—even before he or she walks in. Do not be afraid to use creative and innovative tactics when displaying your merchandise. A great way to find new ideas and spark creativity is by browsing through magazines, photography blogs, or Pinterest. One of the first steps to developing a window or front display is to know your customer base. Are your customer targets young, trendy people in their twenties? Are they middle-aged moms with kids? Or are they retired but still active couples? Tailor your fixtures and displays to your typical shoppers’ interests and experiences. Sean Reed, the CEO of Fashion Media, urges retailers to not underestimate the power of a window display. “Window displays are important in retail stores throughout the world extending from high streets to the mall environment. They are the shop front to consumers and influence the consumer’s decision on whether to enter the store or not,” he says. Another point to keep in mind is never obscuring a shopper’s view. Arrange products and fixtures in a way so they can still see to back of store. This helps entice them to walk through the entire store.

EVALUATE FLOOR SPACE PERFORMANCE 

How does the performance of your fixtures measure up as a whole? Your store has a limited amount of space; that is why maximizing each square foot is so important. An excellent way to measure your floor space’s productivity is by looking at each of the following factors:

  • Store margin contribution
  • Sales per square foot Net profit (store)
  • Average transaction
  • Items per ticket Conversion rate / traffic

Another way to measure the productivity of your floor is to look at sales per square foot. Simply divide your store’s total sales by the square footage of selling area in your store. Keep in mind that store selling area does not include cash register or checkout space, supply or storage rooms, window areas, and dressing rooms (unless it contains a mirror).

EASY SHOPPING 

Using space effectively does not mean crowding your fixtures together. While it may seem tempting to place as many products together as possible, shoppers need to have enough room to move easily throughout the store. For example, in a clothing store, there should be a clear pathway between all the clothing racks and displays on the floors. If your store offers shoppers carts, make sure a cart can fit down each pathway. Making products easy to find and get to is an important part of creating a good customer experience. You will not regret using an extra square inch or two.

Download our new whitepaper on how to maximize the profitability of your store fixture and displays. Click here.

Are you taking advantage of slow days?

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Can we really find the good in a slow day? I would have to say yes. While this cannot be ideal everyday, sometimes slow days bring a welcome moment of extra time for planning, inventory and cleaning. As retailers we want our business to be the best that it can, so why not use the time wisely and take that time to take actions to insure that it is.
If you have been in business for a while you will likely know what time of year, month or day will be slow.  If this is not the case you can probably judge based on the demographic and consumer trends.  For example, if you are open on a Sunday’s in a neighborhood full of families you may not get a lot of foot traffic because of children activities. A retailer may want to plan for some retail chores that have been put on the back burner.  Here is a look at what retailers need to be doing, yet never seem to find the time for:
  1. General Cleaning– dusting, vacuuming, bathrooms, floors
  2. Inventory Management – reorganizing, tracking, management, replenishment, and placing orders
  3. Office Management – filing, billing, payments, banking
  4. Employee Management – scheduling, reviews, new hires, training
  5. Social Media – posting, tweeting, responding to others, blogging
  6. Website Management– product management, e-commerce support, updating copy, scheduling updates
  7. Product Reviews- learning about new products for your store, gaining information on competitive products.
  8. Competitive Analysis- learning about other like retailers, challenging yourself to do better.  
  9. Profit Makers – researching and implementing new ways to bring revenue into your store. 
As a retailer it is always a good idea to keep a list handy of things that need to be done but never have to time- just like a Honey Do list.  Having a list will help keep you on task and get the most out of your free time.  It may also be a great time to use your part- time employees to help fill the space in the store and have some action going on. But remember, the input from your part-time employees may not always be as intense as your own but there is always plenty for them to do.  As most retailers know, there is always something to do in the store, so being bored or playing on Facebook isn’t the answer. 

That’s a Wrap!

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Gift wrapping attracts and keep customers coming back.
I have been in many situations where I needed a birthday gift for a party and it was starting in 15 minutes and I didn’t have the time to wrap a gift. In my neighborhood I have many stores that have complementary gift- wrapping, now I never have to think twice about where I go to get that extra special gift. I always go to the stores that have pre- wrapped or a gift-wrapping service for a purchased gift. I have a store for boy gifts, girl gifts and friends and hostess gifts all wrapped up with a bow! 
Gift wrapping saves the customers time and gives the retailer a chance to reinforce their brand. It also positions products that are in high demand or expensive. Think of everything you sell as a gift to your customer. How you package a product to send it home is just as important as the product itself. A customer will notice if the sale is just thrown in a bag and they will appreciate when a sale has been wrapped in tissue, placed into a bag and tied with a ribbon.  It doesn’t seem that difficult so why not give your customer that extra personal touch.
With the holiday season quickly approaching, gift-wrapping is a great way to help your customers in deciding on the perfect gift. Why not have pre-wrapped items dispersed around the store for the customer that is in a hurry? I am sure they would appreciate the convenience.
Points to consider when thinking about gift-wrapping in your store:
·        Have a few strategically placed signs with the words, “Complimentary Gift Wrapping” displayed in your store or the If you have gift-wrapped boxes, they can be used as an integral part of your store’s displays.
·        Include your logo on the packaging. Whether you order custom imprinted labels or making your own, showcasing your logo acts as an extra form of advertising.  
·        When deciding on a gift wrap make sure they are not too trendy and styles everyone will like. When picking a style that is too trendy it may not be available for long. Pick a print that will be known only to your store and that people know exactly where it was purchased.  
·        Remember to give some thought to whether you are going to include ribbons and bows when choosing your design.
·        Keep a variety of gift bags ready to go with sheets of tissue to keep things simple. So, when a gift is purchased it’s ready to go!

There’s never been a more important time for your store to look for additional ways to promote its brand and stand out from the competition, and this is a great way to do just that. Remember, whether you have one store or twenty stores your brand is vital to everything you do to promote your business.

Watch for the New Fall Catalog!!!!

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Specialty Store Services, Chicago retail supply company, mailed out their latest catalog last week. Highlighted in the newest catalog are a wide variety of products with new lower pricing as well as new products. 
With Back to School right around the corner customers are flocking to stores for newest in products from clothing to school supplies so why not grab the customers attention with mannequins.  Mannequins can make the statement; clump them together for a dramatic look or individually for an item that you want to grab more attention. Also a great way to display the Back to School products is to have made a separate display that will have the customers focus on items they didn’t even know they needed.  
A great way to have a special display is to use Nesting Tables to keep related products together to a wall display.  The wall display can be a grid panel with either shelving or peg hooks to get as much product on it as possible. As a Retailer you want to take advantage of all the shopping that takes place before school starts. 
The fall season tends to be the retailers busiest time of year with the beginning of the school year to the start of the holiday season, Specialty Store Services wants the retailers to be ready and fully stocked with Holiday Bags, wrapping paper and boxes. By offering all the products sooner retailers can have time to choose from the wide variety. This holiday season, Specialty Store Services will have a new Holiday Bag design that will be coming out the end of September
For more information about Specialty Store Services or to request the new catalog, visit the company’s website: http://www.specialtystoreservices.com

Customization is a Great Way to Advertise your Business

Posted onAuthorericw@specialtystoreservices.com

Have you ever walked down the street and you see someone wearing a shirt that you like? You think to yourself where did they buy it, then you notice a bag with a logo and store name on it and you google the store. This is the best advertising you can get  without it costing you a lot of money. Customizing retail bags can help reinforce your brand name and give the air of professionalism to your business. In a competitive marketplace there are hundreds of companies that are competing to get customers into their business.  A retail business wants to grab attention from any avenue, which is why Custom Imprinted Bags have become the rage.  A Custom imprinted bag is considered a walking billboard and a practical and low costing branding strategy.
At Specialty Store Services we have many different products to advertise your store.
An Eco Friendly Store may want give away Custom Imprinted Reusable Shopping Bags with the name and logo printed on it. For another option we carry Custom Imprinted Plastic Bags in many sizes  with either single or double sided printing.  And lastly if you have bags that you currently purchased we can have them imprinted in no time with a Large Custom Imprinted Labels that can be printed with your logo and store name.  If you don’t have a logo Specialty Store Services can create one for you at an additional cost.

Just remember that when your customers are buying products from your store you must always supply them in a bag so there is no reason you shouldn’t use bags to your advantage and gain some exposure as well as some new customers.

Good Service Equals Happy Customers

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While I was on vacation I walked into a small boutique and was completely ignored. I was shocked that she did not even say hello or acknowledge that I was in the store.  As I walked around and touched the merchandise she never once ask if I was looking for anything in particular, and just kept on doing what she was doing and never once looked up.  I was shocked at the lack of service she was giving and couldn’t wait to leave. I was very disappointed because she had great merchandise and I would’ve bought something had she been more engaging.
No matter if you are the owner or the employee it is important for you to make your customers feel welcome and comfortable.  When you have guests at your home you don’t let them just walk around you make them comfortable offer a drink or a place to sit and make conversation. Wouldn’t you do the same for your customers?
Service is simple and very important.  Service encompasses attitude, efficiency, knowledge and availability. Customers want to shop in a place that is inviting and where they feel valued. Customers have options so why not give them what they are looking for cause they are spending precious time and money.  Employees should be well trained, courteous, attentive, helpful, friendly and efficient.  Remember a customer is willing to overlook imperfections if they are given the service that they want. Here at Specialty Store Service we believe a smile, small conversation and attentiveness is what keeps our customers happy.
Good Service= A Happy Customer.

Shopping Basket Placement in Retail Stores

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Shopping Baskets are an excellent customer convenience. I am always pleased when I enter a store and find those handy shopping baskets right near the door. But I’m overjoyed when I also find them elsewhere in the store, right when I need one, since my trip to purchase one item in particular always turns into a shopping extravaganza. The question is: where else should shopping baskets be located?

Well, the answer depends on your particular business and store layout. A great way to figure out where to place shopping baskets is to conduct an experiment with different colored baskets.

For instance, place red baskets near the front door, green baskets near a fast moving product, yellow near high profit margin items and so on. Throughout the day, keep track of what color baskets are being brought up to the sales counter. If you are not getting many yellow baskets back then try moving those to another location. By testing various locations and counting the basket colors when they return to the register, your customers will tell you where they prefer the shopping baskets. Shopping baskets are available in standard and jumbo sizes and can be purchased in all one color or in a rainbow assortment.

Something else to keep in mind is whether to offer customers rolling shopping baskets in addition to the handled shopping baskets. Rolling shopping baskets are ideal for stores frequented by older shoppers and for heavier merchandise. The stackable roller baskets feature carry handles and a long handle for pulling the basket. Two swivel and two rigid casters make the roller baskets easy to maneuver.

Remember, having shopping baskets available throughout the store will encourage impulse shopping since it is easier just to pop another item into the basket rather than juggle it with other items. Trust me, I know.

For more information on shopping baskets and 1000’s of other items, please visit the Specialty Store Services website at http://www.specialtystoreservices.com .