Scent Marketing Makes Business Sense

Posted onAuthoralice@specialtystoreservices.com

wordsSuccess tastes sweet, but who knew its smells even better? Scent marketing research studies show that the use of scent in retail stores can have a significant and direct impact on business sales and profitability. Wondering how? Well, simply put, it helps deliver a better shopping experience to customers.

By using scent in your business outlet, you can make customers connect with brands on an emotional level and tug all emotional strings that help increase customer loyalty, brand engagement and, of course, the time consumers spend in stores; they tend to linger longer, thereby fetching retailers more sales.

The Science of Scent Marketing: How it Works?

Scents have a compelling and immediate effect on people. They are directly linked to the brain’s limbic system, which is the part of the brain that is responsible for our memories and emotions. Scents basically go beyond our rational perception, and have a strong impact on our emotions. According to Nobel Peace Prize Winners, Richard Axel and Linda Buck, our sense of smell is the most emotional sense we possess. Rather than interpreting the information we receive from a particular fragrance, we immediately get a feeling when we smell something.

For example, during the holiday season, there is a certain smell in the air which makes us jollier. Is it the spirit of Christmas? Well, not so much! It’s the smell of pine and oranges we associate with the holiday season. Make sense?

Scent Marketing Makes Business Sense: Let’s Talk Stats and Facts

It makes business sense both literally and metaphorically. Before we discuss some great tips for influencing shoppers with scent, let’s look at some stats and facts first. In a study conducted by the Smell and Taste Institute, it was discovered that 84% of consumers were more likely to buy a pair of Nike trainers in a scented room compared with a non-scented room. And what was even more surprising was that they were ready to pay more.

And did you know:

  • Consumers evaluate scented products as being of higher quality
  • 75% of human emotions are triggered by smell
  • Customers are more eager to buy and pay higher in a scented environment
  • Consumers remember scented shops more than the unscented ones
  • Tests show a 40% improvement mood when exposed to a pleasant scent

Cinnabon, the bakery chain, uses this marketing strategy. They place ovens in front to entice people into entering their establishment. The enticing smell of warm cinnamon rolls can make anyone salivate. They intentionally choose malls and airports (or closed spaces) to make the smell linger. This has worked for their business. Now it’s time you caught on to it!

Actionable Tips to Sniff Out Higher Profits with Scent

If you run a bakery or a restaurant, that doesn’t mean you can’t use this strategy to optimize sales. Here are great tips to help you leverage your business:

Use Simple Scents

First things first, make sure the scent you use is not a complex one. Studies show that consumers exposed to simple scents spent 20 percent more than those exposed to a complex blend.

Reinforce Branding with a Signature Scent

According to the Sense of Smell Institute, people remember scents better than photos. Develop a signature scent that people can associate with your brand. For example the tanned leather scent of ‘Fine Suede’ can be used to entice people into entering and making purchases in a leather goods store.

Make Sure it’s Not Off-Brand

Don’t go off-brand when choosing scents. For example, facts say that the aroma of lavender slows the perception of time and smelling it encourages shoppers to spend more time in a store. This scent would be beneficial in a grocery store. An amber scent or earthy wood notes, however, would be a good choice for a furniture store. These scents induce warmth, comfort and sometimes nostalgia. Such notes can help create brand association.

Showrooming: If You Can’t Beat It, Befriend It

Posted onAuthoralice@specialtystoreservices.com

 

Showrooming: If You Can’t Beat It, Befriend It

Showrooming is a relatively new foe in town for brick-and-mortar retailers. It is eating away showroomingretail sales and business profits. If you are not familiar with the term yet, it is basically a practice wherein potential shoppers visit a brick-and-mortar store, examine a product and then use their mobile devices to see if a better price is offered at other stores or e-commerce sites. This practice is becoming common with time, which means it is here to stay for a while.

Let’s talk stats to see how showrooming is posing a threat to brick-and-mortar retailers:

  • A report from Teradata (a marketing software subsidiary Aprimo) and Forrester Research shows that more than half of consumers report finding lower prices over the web than in store. Thirty-three percent use this information to buy the product elsewhere.
  • A report published in Denver Post shows that retailers lose as much as $217 billion a year in missed sales from showrooming customers.

Counter Strategy That Backfired

To counter this practice, some retailers tried disabling Wi-Fi service in their stores to keep shoppers from browsing. This approach did not last for long and retailers had to discontinue it because turning off Wi-Fi did not stop consumers from browsing. Since most mobile users have data plans in their phones, they can surf the web regardless of their location.

Time to Convert the Threat into an Opportunity: Use Showrooming to Your Advantage

If you can’t beat them, join them. Likewise it’s time that you use showrooming to your advantage instead of looking at it as a threat. The truth of the matter is that it is not a fad and it will likely no be going away any time soon; quite the opposite, it is likely to become more popular with time. The point, then, is to acknowledge and accept this phenomenon and use it to your advantage to minimize negative impact.

Here are some of the best ways to leverage showrooming for your retail success:

  • Price Match: The most obvious way to give a good run to the competition is a price match. Last year, Target announced that they would start price matching online competitors, even the big ones, such as Amazon, Walmart, BestBuy and Toys R Us. BestBuy took this concept a step further by matching with a greater selection of online competitors and physical stores within a 25 mile radius. They claim that price matching worked to their advantage. You can try it, but it is important to understand that this might not work for every business and depends on where your price points are. In addition, it may only workable as a short-term strategy as it may override your overhead costs.
  • Invest in a Mobile-Optimized Site and Mobile Apps: Direct your customers to your own mobile site and app through in-store Wi-Fi where you can offer both product information and reviews. This will reduce the likelihood of a customer landing on a competitor’s e-commerce site. Also, make sure your site is optimized for all types of mobile platforms, including tablets, phablets, and smart phones.
  • Keep Your Website Up-to-Date: Make sure that your site prices match those offered in your store and are also competitive. You can also consider offering printable coupons and rebates that can be used in your store to encourage customers to buy from your retail store.
  • Deliver the Ultimate in-store Experience by Offering in-store Giveaways and Promotions: In-store promotions, exciting discounts for retail customers and special giveaways are enticing for shoppers. They would love to come to your store and find deals that allow them to save money.

Never Forget the First Rule of Customer Service

Offer the one thing that can’t be found on a mobile search: In-person customer service. Make sure your staff is well-trained to offer the best in-store experience possible. Remember, a pleasant shopping experience goes a long way, especially for those who love traditional shopping.

Walking Down The Aisle: The Relationship Between Aisle Spacing And Customer Behavior

Posted onAuthoralice@specialtystoreservices.com

dia_gridFrom determining where different category products will be placed, to how the in-store advertising material will be displayed there is no doubt that shelf-product placement and SKUs prompt shoppers to purchase products they may never have had any intention of buying, which eventually fetches more sales for retailers.

Does retail success only lie in merchandising planning, though? Well, let’s just say this is one part of the equation to maximizing retail sales. Want to know another very important part? Aisle Spacing!

Yes, this is an effective retail layout strategy that can boost retail sales dramatically. Before we get down to business and share with you some great tips to work out your aisle spacing, let’s take a look at how Walmart learned the impact of aisle spacing phenomenon on sales the hard way.

In 2009, Walmart conducted a customer survey in an effort to improve their customer’s retail experience. According to the survey data, Walmart had to overhaul the approach of displaying inventory on the sales floor. They removed 15% of the store’s inventory. The retail giant created more space between the aisles by decreasing the merchandise in store, stocked on the aisle end caps and also shortened shelf height. The outcome from a business point of view was shattering. The sales plummeted $1.85 billion. In the quest of giving a cleaner and a spacious store to the customers and a better retail experience, they sacrificed their retail sales. Eventually they reverted to ensure they didn’t lose even more sales.

After years of shedding inventory and clearing store lanes for a cleaner, wider and more appealing look, retailers across the country are now adding more inventory and opting for narrow spacing in stores. This most certainly doesn’t mean that you cramp up the space and make it impossible for shoppers to walk-through, though, especially if you provide shopping carts.

Understanding the Aisle Width Mantra to Power up Sales

First things first, developing a good understanding of aisle width (i.e., selecting the right width) can increase your sales. Here’s how aisle width is connected with retail sales: where wide and long aisles facilitate movement for buyers and deliver a good shopping experience, they also encourage customers to walk briskly past merchandise they might otherwise be interested in purchasing.

Narrow aisles on the other hand may restrict easy movement (and sometimes even hamper foot traffic), but such aisles encourage browsing. There is a thin line, however, between narrow and clogged aisles. Clogged aisles can frustrate customers and lead to premature departure, which is something no retailer wants.

Are we suggesting narrow aisles? No. Narrow aisles may not be the best bet for you, if you have a small store. The crux of the matter is to select aisle spacing according to your store type.

Choosing the Right Aisle Width: Strike a Balance

Wide aisles encourage customers to power walk to the merchandise they have come to the store for; this may be a good idea for big box stores, but not so good for specialty stores. Studies show that a customer spends, on average, eight minutes shopping in a single store. This means it is practically impossible for them to see a large number of SKUs in such a short time.

The idea is to slow the customers down to get them to see more products, while acoiding traffic jams in your store.

  • The best strategy is to select aisles that are narrow enough to force customers to slow down, but at the same time still be wide enough that shoppers are still able to notice the products displayed. Strike a balance.
  • Make sure the area in your store is wide enough for two people to pass one another at the same time. This means a minimum of three to four feet is good enough.
  • If you provide shopping carts, then an aisle width should be enough to accommodate two (side by side) shopping carts.
  • Beware of the butt-brush effect where the typical customer may avoid perusing merchandise if it brings another customer’s backside into close proximity. To avoid this, make sure aisles and floor space allows patrons adequate personal space in your store.

Optimize Sales With Attractive Storefront Display

Posted onAuthoralice@specialtystoreservices.com

ShopWindowAccording to the Wall Street Journal, last year consumers spent more than $3.1 trillion on retail purchases. Plus, 89% of sales in the clothing industry were made in stores compared to online. Where online shopping continues to grow, these stats show that, even today, the majority of retail spending still occurs in brick-and-mortar stores. This means in-store shopping is still very relevant.

Offline and online competition, however, is growing massively. This is exactly why it has become more important than ever for retailers to attract customers passing by their storefronts.

Importance of an Enticing Storefront Display

Your storefront display is the first physical encounter your business has with your potential buyers therefore it should be impactful, impressive and enticing.

Storefront display:

  • Is a valuable tool for marketing your business, because customers are able to see what you have to sell.
  • Improves business visibility.
  • Helps attract walk-in customers to the store and encourages them to purchase, thereby resulting in more sales.
  • More importantly, if your storefront display makes a great first impression on people, they are more likely to shop at your store instead of competing stores.

Clearly, storefront displays are definitely a tool that retailers looking to maximize in-store sales should consider.

How to Create an Impressive Storefront Display to Attract Walk-in Customers

Here are some proven tips to create an impressive storefront and become the go-to retailer:

  1. Signage: Do you have signage? Is it visible to both foot and vehicle traffic? Your retail signage must be visible with appropriately sized lettering that is large enough to be read from a distance. These types of outdoor signs for business make it easier for people driving and passing by to spot your store, helping your business stand out from others in the same line. Studies show that impressive signs attract half of a start-up business’s customers.
  2. Decorate Your Storefront with a Storyline or a Theme: Your storefront functions like a billboard, so make sure you use it wisely to advertise your business. Determine a central theme and a story line to optimize your storefront display. For example, if you sell clothes, you can choose a winter theme to showcase your winter collection. You can change the display theme according to the season and make it more appealing for customers.
  3. Avoid Clutter: A storefront display to attract customers doesn’t mean you clutter the area and display everything from the store. Only display the latest items or most popular products, rather than creating a cluttered mess of various displayed products. By showcasing the latest and popular products in-store, you can easily attract passing by potential customers. If you display everything, it will be confusing for the customers and some will pass by.
  4. Hire a Skillful Sales Person: You can also hire a skillful sales person who has excellent marketing skills to lure people inside the store. Make sure, however, s/he doesn’t sell too aggressively, as that can also turn potential customers away.

The Undeniable Power of Color in Retail

Posted onAuthorericw@specialtystoreservices.com

Color wheel & emotionThe right color choice can mean the difference between a successful retail shop and one that lacks customer sales.

Psychologists have long agreed that color plays a significant role in people’s emotions. Different colors can invoke an array of feelings, especially during first impressions. It makes sense for retailers and business owners to understand the psychology of color and how it can influence customers’ moods and their buying decisions. The use of color in retail is one of the most effective ways to subconsciously entice customers and spark an emotional response. In this article, learn what emotions certain colors are linked to and how retailers can use these to evoke appropriate responses for their particular businesses.

The psychology of color in retail businesses has been studied for decades.

A study called The impact of color on marketing found that up to 90% of people make assessments about products based on colors alone. Research has also shown that there are physiological changes that take place in people when they are exposed to different colors. Studies found that certain colors can excite, relax, increase appetite, and even change body temperature. Since color has such a powerful effect on customers’ moods and decisions, it pays to understand the psychology of using certain shades. This information can be of great use when deciding what color to paint the walls of a yoga studio or the exterior of a specialty retail shop.

Business owners have the power to use color to their advantage depending on the products they offer. Keep in mind that the brightness and darkness of a color can change the psychological message that a business wants to convey. The amount of color used can also have a certain impact. For instance, red is an energetic and passionate color that can invoke excitement when it’s used in small amounts as an accent color. When a lot of red is used in a retail establishment, however, it could cause anger or aggressiveness. Pink, the calmer and softer version of red, radiates feminine energy and confidence.

It pays for retail establishments to understand the influence of color and how it can affect their customers’ first impressions, mood, and buying decisions.

Blue tends to have a therapeutic and calming effect on customers. Shades of blue suggest a sense of loyalty and dependability, which are two traits customers look for in a business. Blue reduces tension, invokes a feeling of trust, and suggests honesty. Green is another color that creates a sense of calm and compassion. Green is also associated with nature and healing, and it is surprisingly stimulating to thirst.

Yellow in retail stores signifies happiness, playfulness, and mental clarity. But too much yellow can be agitating and stressful for customers, signifying a get-in-and-get-out type of establishment. Orange is usually associated with affordability and value, and it induces excitability and optimism. While it’s softer than red, orange is a color that should not be used in excess, except in businesses like gyms.

The use of color is a wonderfully effective tool that can gain favorable results and responses when approached in the right way. Of course, this depends on the particular type of retail business. For example, orange is an ideal color for retailers who wish to promote affordability and dependability in their products. Stores who want to set up special displays for women’s products may choose pink or purple for a soft, feminine touch, while men’s clothing stores are better suited with blues. Exercise establishments should consider opting for red or orange for accent colors, while shops that sell baby products may want to use lots of light blue and mint green. Toy stores might consider bright and basic colors such as yellow, blue, and red.

The right color choice can mean the difference between a successful retail shop and one that lacks customer sales. Taking the time to understand color psychology is a great way for any business to get favorable responses using colorful promotional efforts!

The retail experts at Specialty Store Services can help you choose the right display solutions for your store that can help you use the power of color to your store’s advantage. Call 800.999.0771 or visit our website for more information.

 

Employee Theft Prevention: Is It Possible?

Posted onAuthorericw@specialtystoreservices.com

employee_theftLearn how to prevent and deal with employee theft by implementing measures such as comprehensive background checks, cameras, and even prosecution if necessary.

Theft is a prominent problem in a majority of businesses. While shopper theft is common in retail businesses, even more common is employee theft. Small businesses deal with the issue of theft more than large businesses, making the “inside” stealing even more detrimental and personal. In the end, the business and/or the customers wind up swallowing the cost. Worse, many businesses don’t even report the theft to authorities. This means that the thief gets away with the crime while everyone else loses. So, is it possible to prevent employee theft within a company? In this article, we’ll discuss the problem of employee theft and how companies can lessen the probability of theft by taking preventative measures during the hiring process and beyond.

Employee theft is a big problem many companies are uncomfortable talking about. Theft by employees costs small businesses more than $75 billion each year. It’s also estimated that almost a third of this country’s employees will steal from their employer at one point or another. Theft can take the form of stealing money and merchandise or helping themselves to office supplies. Almost 75% of employee theft goes unnoticed, eventually leaving the owners of the business wondering how they are losing money. Only 16% of small businesses report employee theft to authorities because of factors that include emotional ties or feeling like they may never fully recoup the stolen money even when payments are made by the prosecuted.

One of the keys to preventing employee theft before it happens is a comprehensive hiring process. While an employer will never get to fully know a potential employee before he or she is hired, measures can still be taken to find with the available tools. An employer can get a background check on a candidate simply by searching online in some cases. Most sites charge a fee, but background information is available. Some states even have a free public database that displays court information including arrests, warrants, and prior convictions.

Another way to possibly prevent employee theft is to provide a plan that discourages stealing within the company. Make sure employees have a safe and confidential outlet to express any suspicions of others stealing. They should feel comfortable knowing that they will not face any form of repercussion for coming forward. This should be the standard for management and owners as well.

No one likes to be watched at work, but one of the most effective ways to prevent employee theft is through the use of cameras. Installing a DVR based security system in areas such as shipping and receiving, as well as near cash registers and safes, is a smart idea for business owners. Cameras not only catch thieves in the act, they can also deter stealing as well.

In some cases, employee theft is inevitable no matter what preventative measures have been taken by the employer. When all else fails and an employee steals, he or she should not get away with it. Prosecution is the only way for employers and business owners to get justice. While it may seem unpleasant, time-consuming, or costly, sometimes the prosecution of thieves is absolutely necessary in order to ensure that they pay for their crimes. Further, it makes clear that, as an organization, you prosecute internal theft as a rule, which can also act as a strong deterrent.

Need some help with stamping out theft and store security? Specialty Store Services can help! Our retail experts can help you choose the right security solution for your store to get you ahead of theft. Call 800.999.0771 or visit our website for more information.

Trend Surfing: Merchandising and The Art of Trend

Posted onAuthorericw@specialtystoreservices.com

Cart SurfingTrends, whether they are seasonal events, holidays or the latest video game craze, are a great way to feature and sell what is “hot” and “new”. In this post we are going to discuss ways in which you can use trends, both popular and not-so-popular, to your advantage.

This is the time of year when retailers around the country are gearing up for the back-to-school season and their preparations are evident in the changing displays around stores. From supermarkets to specialty stores, the focus is on back to school merchandise.  Stores across the country have stocked up and have showcased their back-to-school items on the end caps of aisles and other high-traffic areas of their stores. The moment a customer steps into the store, his or her eyes are greeted to the back-to-school merchandise. It’s a very basic “line of sight” tactic, but it works well every time. What should you display when there is no holiday or season to push? What products should be front and center?

You might already follow trends within your vertical, but have you thought about stepping further outside of the space to see what is trending in other areas? With so many forms of communication, trends catch on quickly and can spread like wildfire. The trick is to tie up-and-coming trends into your store. Great stock and neat display is not enough. Staying ahead of trends gives you a jump on your competition and improves your bottom line.

In this new era of retail wars, you need all the ammunition you can get to survive and thrive. You can no longer ignore the power (and threat) of online shopping, which continues to take more of the market share. Social networks are entwined in our daily lives, so much so that we don’t even have to switch on the television to get the latest news. If a customer “likes” your page, what other types of products do they “like?” To which groups do they belong? Who do they follow? Social networks allow you to easily mine information regarding what your customers are into. You can use this information to build a better customer profile and merchandise accordingly. Whether it is a new movie, TV mini-series, the newest video game, sporting event, a viral video, or even a grumpy cat, anything can set a new trend. Customers will go to the store expecting to see the latest and you have to fulfill their expectations. If a customer walks into your store and sees a display or merchandise relating to a particular trend, they will be more inclined to buy, as they already have a relationship with that product. Your merchandising, display skills and knowledge of what is trending will fire their impulses to buy.

The 3 Core Principles of Trending
Now that we have talked a little about the importance of trending, let’s take a look at some actionable ways to do so.

Variation: Seasons and events play a big role in attracting sales, but you need healthy sales throughout the year. Instead of waiting for the next festive season, take the reins now. Keep up with the times and latest trends; use these to change and upgrade your merchandise, displaying them artfully for your buyers. Variation of merchandise outside of well-known seasons gives you an advantage over your competition.

Engagement: You also have to keep in mind the diverse demographics that define the customers of today. Age, sex, race, personalities, choices, regions; there are all kinds of idiosyncrasies that make up a customer base. By interacting with customers of social media, you can build a better relation with and understanding of your customers. Trending allows retailers to keep up with the changing dynamics of what their customers want.

Innovation: Using new technologies and platforms let you experiment with different ways to market your business. You have to innovate. Just because it worked for someone else, does not mean it will work for you. Try new things: tap social media; have contests; follow the competition; discover what your customers are into and use all of this to your advantage.

Trending and its influence on modern merchandising is has certainly been accelerated by this era of communication and technology. The good news is that this very technology also provides ample information for retailers to use, as well. Emerging technologies; the latest mobile and hand held devices; faster and constant Internet connectivity; and social networks have all converged to create the perfect platform for trending. If you can harness these to hone your merchandising skills, then empowering your business will be easier and the future more effective.

Need some help harnessing the power of trends for your store? Specialty Store Services can help! Our retail experts can help you choose the right display solutions for your store that can help you capitalize on the latest trend. Call 800.999.0771 or visit our website for more information.

 

Analysis Paralysis: How Much is Too Much?

Posted onAuthorericw@specialtystoreservices.com

consumer-choicesA recent article in The Fiscal Times defines the repercussions of Analysis Paralysis in our lives. Too many choices leads to confusion, which, in turn, often leads to procrastination. This can have severe impact in our lives in terms of lost opportunities and also in terms of financial loss. The repercussions are not limited to individuals; they can affect businesses as well. Yet no other industry has perhaps faced the level of damage from analysis paralysis like retail. Increasing competition and globalization means stores feel the need to expand, yet every expansion has the potential to fuel analysis paralysis and harm sales. It’s ironic, but true.

The retail and merchandising sectors depend on demand and the flow of goods to bring in revenue. If a buyer’s confusion and procrastination leads to the loss of a sale, then survival of the business can be at stake. To avert such disasters while offering a wide array of choices, one has to devise smarter strategies to direct consumer action towards definite sales. Owners and/or managers must assist customers in understanding the differences between similar items. There is a fine balance between offering enough choices, but not so many as to depletes sales. This is the art of managing analysis paralysis and here’s how you can begin.

Ways to Combat Analysis Paralysis
Now that we have addressed the downfalls of analysis paralysis, let’s take a look at some ways you can avoid it.

Tip #1: Inform. Yes, there are a large number of items on the shelf, all in the same category and all with more-or-less the same features. The only real difference, at least in the eyes of the customer, may be price. You cannot escape from the expansion, so it’s time to manage the products on display. Instead of relying on the brands to market their products, you have to design a whole new way to inform your buyers about these products. Set a schedule for prioritizing one at a time or a few at time so that every product goes through a solid publicity cycle. This may lead to taking a hard look at what is really selling and why. Drop any losers; look at new products; and, push the products you know are working. Make sure that your marketing tactics appeal to the psyche of your buyer demographics instead of being generic. Appeal to their needs, offer what they desire, and give top-level information on the products so customers can make a quick, concise decision.

Tip #2:  Innovate. Retail has deep roots in innovation, which are not readily apparent; yet, they form the solid foundation for smart merchandising. You cannot emulate others blindly and hope to excite your buyers into buying more. In fact, boring and mundane displays that resembles any competitors’ stores will only result in flat sales. You need to stand out. Research and innovate new ways to display your merchandise so that it catches the consumer’s attention and draws them to buy. The best motivator is still money, so when you have two competing brands offering the same features, set them apart by offering innovative deals and discounts on each (one at a time) so that choosing one over the other is easier. Out of the box marketing tactics and below the line promotions also go a long way to boost sales.

Tip #3: Incite. The first two steps, are a way to attract customers to your store and deal with the inventory you currently carry. You cannot hope to stem analysis paralysis effectively, however, unless you take a more direct and aggressive stance. Smart merchandising is not just about great displays and expanding products; that is basic criteria for retail. Intelligent business maneuvers here mean devising strategies that will constantly pit each product against the other and invoke customer interest. You have to incite their brand loyalties. You have to bring out hidden desires. You have to poke them into picking up products from the shelf that they will be compelled to buy. Of course, certain brands will hold more sway over buyers, but smart displays can often bring smaller brands to the forefront as well. It is your job to incite the latent impulse shopper in all consumers so that they not only buy what they need without dithering, but also what they may not need, without question.

Your growing retail business will see a bright future when you keep expanding your product line and dropping losing products along the way. Applying smart merchandising techniques will help to tame analysis paralysis.

Need some help to reduce analysis paralysis in your store? Specialty Store Services can help! Our retail experts will guide you through choosing the right display solutions for your store and put an end to analysis paralysis. Call 800.999.0771 or visit our website for more information.

How To Merchandise Your Outrigger

Posted onAuthoralice@specialtystoreservices.com

Successful retailers know that truly effective merchandising extends beyond just the fixtures on the sales floor. Effectively utilizing your wall space can have a major effect on your sales. A strategically merchandised wall will even affect your customer’s perception of your brand because it is often the first thing they notice when they walk into a store.

If you aren’t using mannequins (and even if you are), a wall is a great place to merchandise potential outfit ideas, which will encourage your customers to shop for a full look instead of just one item, which brings up the average sale. They may only be looking for one item, say a dress – but if they see it merchandised with a necklace, a belt, and maybe a handbag, the customers might decide they need the whole outfit.

An easy way to do this is with is by using faceouts. Faceouts easily attach to rectangular tubing and come in a variety of lengths. We suggest using Molded Half Round Forms to display full outfits. Molded Half Round Forms are a cost effective way to show off your merchandise. Forms are hollow, making them lightweight and easy to pin or clamp clothing in the back. The advantage to hanging forms vs. mannequins is that you can merchandise the faceout right next to the available stock on the floor.  Style an outfit on the form, and then place the outfit components behind it on the faceout, making ‘shopping the look’ a breeze for your customer.

Another thing we love about using an outrigger system is that it’s simple to add shelving. Depending on the style and design of your store, you may prefer to use Laminated Wood Shelving, Plastic Bullnose Shelving, or Glass Shelving. Shelves are easily attached to the outrigger using Shelf Brackets. Once shelving is installed, the merchandising possibilities are endless. Handbag Displays and Jewelry Displays work well for showing off accessories, but don’t be limited to just that! Countertop Forms and Mannequin Head Displays add more ways to cross merchandise and highlight product combinations.

This video shows an example of one way to merchandise your outrigger – but the possibilities are endless! For more merchandising and design ideas, call and speak to one of our knowledgeable sales representatives.

 

4 Easy Tips For Merchandising Impulse Buys

Posted onAuthorericw@specialtystoreservices.com

?????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????An Impulse Buy is defined as a spur of the moment, unplanned decision to buy, just before making a purchase. Essentially, it’s a purchase a customer makes without putting prior thought or consideration into it. Retailers should look at this area with the opposite approach. It’s often overlooked, but with the right merchandising, can bring in major sales. Here are a few pointers to keep in mind:

Store Flow Sets the Tone

When merchandising your store, finding the right flow is crucial. While maximizing your space is essential for smaller stores, you don’t want it to appear cluttered or messy. To avoid congestion, place larger, higher priced items away from heavily trafficked walkways. Customers will spend a longer time examining bigger ticket purchases, so keeping these items out of the main walkway gives them the space they need to weigh their decision.

Alternatively, lower priced items can be more densely merchandised and perform best nearer to the cash register.  Give your customers something to consider as they wait in line because 27% of shoppers will make an additional purchase at the cash register (Neiberg, 2013).

The Little Purchases Add Up

The reason items merchandised near the cash register do so well is because the customer has already made up their mind that they are going to be spending their money – so what’s a few dollars more? POP (point of purchase) sales can add $5 to $10 to each sale, which quickly creates a big profit. POP displays take up 1% of total retail space, but account for 7% of annual sales (Neiberg, 2013).  As a retailer, you can’t afford to not be using the space around the register.

If you aren’t currently utilizing this space, it’s time to start buying inventory specifically for your point of purchase area! Think of small add on items that compliment your best selling merchandise or fun trinkets that will appeal to your customer base.

heres-where-we-startedThe Right Display Will Help You Sell

Store displays speak volumes – sometimes more than your staff even can! 1/3rd of customers shopping say they don’t want to talk to store employees (Reyle, 2014). That’s a huge chunk of business; so instead of loosing these customers, let your store displays communicate for you. Try incorporating signage into your displays. Many fixtures today include sign holders, so adding a sign couldn’t be easier.  Find a clever way to speak appal to your customer’s impulsive side, and you’ll also find yourself bringing in sales.

Take a look at your current store layout and see where you could add POP displays.  Of course you can use countertop displays next to the register, but don’t forget about impulse bins, floor spinners, or even gondolas if your store has the space. (Think of the way a retailer like Target does this by their checkout area). Wooden bins or baskets are kid friendly and encourage easy browsing.  Remember, you’re trying to attract the customers who are waiting in line, as well as the ones who are the register. Displays by the register do have the advantage that your store’s employees can talk up the items and share brand knowledge. Near the register is a great place to display items that are special or unique to your store.

Not All Impulse Buys Are Add On Purchases

We’ve spoken a lot about the best placement for impulse buys being near the checkout area, however, don’t limit yourself to just that. Every retailer has experienced this scenario: a customer walks into your store and you great them with a friendly, “Hi! Is there anything I can help you find today?” only to hear the customer respond with, “No, I’m just browsing.” This type of customer may not have entered your store with the intention to purchase, but that doesn’t mean they won’t leave without buying a little something. However, the “just browsing” customer will not likely linger near the cash register.

For this reason, we suggest merchandising your impulse buys in more than just one location.  Spreading your inventory throughout the store increases the chances that a customer will spy something they like and make a purchase – even a customers who came into your store just to look around. Small purchases also appeal to the tourist customer; often they want to buy something, even if it’s just something little, to bring home as a memento of their trip.  Items such as key chains, magnets, and personalized jewelry appeal to this shopper.

Looking to add maximize your sales by capturing the impulse shopper? Specialty Store Services can help! Our retail experts will guide you through choosing the right display solutions for your store. Call 800.999.0771 or visit our website for more information.

 

Reyhle, Nicole. “Maximizing Store Experiences & Sales Through Merchandising & Displays.” Retail Minded. May 2014. Lecture.­­

Nieburg, Oliver. “Impulse Buy: Unrealized Potential.” ConfectioneryNews.com. William Reed Business Media, 13 Nov. 2013. Web. 04 June 2014.