Merchandising’s Post

The benefits of having discerning sales people in your stores, collecting your shoppers habits and likes, is pretty obvious to retails professionals. It is the same online and in the digital world in general. Collecting merchandising data can benefit your business in many ways.

🌟 Enhancing Merchandising with Inventory Optimization 🌟 Personalization is fantastic, but it's not enough for driving long-term profitability. Why? It overlooks crucial retail KPIs that help prevent dead stock or stockouts—both wreaking havoc on overall revenue and profits. We understand that having the right inventory optimization practices in place can boost long-term sales, cut operating costs, prevent overstocking (while still satisfying shopper needs), and enhance overall efficiency. But here's the secret sauce: Incorporating retail KPIs into your marketing metrics can take your digital merchandising to the next level. To achieve this, consider factoring in a multitude of parameters into your product sorting simultaneously. 🚀 Why? Relying on only one metric, like bestsellers or personalization, is just not enough to stay competitive. Some of these parameters include: 📈 Margins 📊 Variants stock ratio 💰 Inventory value 🗓️ Number of days in stock ⏳ Days to finish inventory (based on product daily sales rate) ...as well as bestsellers, product pageviews, conversions, and more. Ultimately, to achieve multi-parameter sorting, you will need a combination of technologies to streamline your inventory optimization—which brings us to the third strategy. Ready to transform your digital merchandising game? Let's optimize for success! 🌐💻 #RetailStrategy #InventoryOptimization #DigitalMerchandising #shopify #shopifypartners

Mastering Market Trends: A Merchandiser's Guide to Customer-Centric Strategies In the ever-evolving world of retail, staying ahead of the curve is essential. As merchandisers, our ability to master market trends and understand consumer behavior can make all the difference. 🛒 Why It Matters: By analyzing data related to what products customers are buying, when they are buying them, and why they are making those choices, we gain invaluable insights. This knowledge isn't just about knowing what's "in" or "out" — it's about anticipating customer needs and shaping our strategies accordingly. 💡 The Power of Data: Consumer behavior data is a goldmine. It helps us identify emerging trends, track the lifecycle of products, and spot opportunities and challenges. Whether it's the rise of sustainable fashion or the shift towards online shopping, data is our compass. 🚀 Meeting Customer Demand: Customer-centric strategies are about more than just offering what's popular. They're about aligning our inventory, marketing, and sales efforts with the genuine needs and desires of our audience. It's a win-win situation: happier customers and a healthier bottom line. 🌐 The Ever-Changing Landscape: Market trends don't stand still. What's relevant today might not be tomorrow. That's why continuous learning and adaptation are vital for merchandisers. We must be agile and ready to pivot when needed. 💬 Join the Discussion: How do you stay updated on market trends, and what methods have helped you understand consumer behavior better? Let's share our insights and experiences to collectively elevate our merchandising game! In the world of merchandising, knowledge is power. Let's keep learning, adapting, and putting our customers at the heart of everything we do. #Merchandising #CustomerCentric #MarketTrends #RetailSuccess

A jewelry retailer faced challenges due to gaps in their assortment; they struggled to match changing customer preferences. They used consumer data to identify the missing pieces and promptly filled those gaps. This strategic adjustment led to a remarkable turnaround in their sales and customer satisfaction. An apparel retailer confronted a crisis during the pandemic. Their physical stores were empty, and online sales were dwindling. They identified gaps in their product range, focusing on comfort wear for remote work and leisure. Swiftly aligning their inventory and marketing efforts with these trends, they not only survived but thrived during challenging times. https://lnkd.in/gbMCH6A4

🔥 As someone who engages with ecommerce professionals daily, I'm frequently asked about impactful merchandising strategies that I see innovative retailers using. Here are my two favorites: 👉 In Stock Variants Percentage: When a product has 500 items in stock, all in a single size, while another product has only 50 items in stock across various sizes, it's generally better to highlight the product with a full size run. I've seen major apparel retailers not only prioritize available stock but also products with a limited size range. 👉 Featured Brands: If you have specific brands you want to showcase, whether they're in-house or high-margin brands, consider promoting them in search results and collection pages. I've even witnessed retailers negotiating better prices by leveraging merchandising tools to promote brands. 🚀 Are you utilizing unique rules-based merchandising strategies to boost conversion rates? Share your experiences in the comments! 💬

I'm thinking more about planograms lately. 🏬 🛒 🏪 RetailNext has a top down view of the customer journey, and we are able to analytically track some demographic information as well as engagement, dwells, zone transition, conversion, and much more. But we do not track sideways out. At The Hershey Company they are looking at analytics of product placement in the vertical space, i.e. planograms. Where products are placed have a real impact on sales, and with data driven methods they can determine what the "gold standard" in merchandising looks like. "By helping shoppers quickly locate their favorite candy, mint and gum, we aim to enhance the overall shopping experience." They are seeing over 2/3 of sales come from primary real estate / placement! Testing different standards to arrive at the optimum is key: 👉 We would recommend pulling in a partner like MarketDial who we work closely with to build smart test cases to validate ROI. 👉 Partners like Raydiant can help bring in lift and learn technologies and other ways to get customer engagement analytics. 👉 RetailNext brings in the customer experience, the why they buy and other engagement analytics. How are you planning your store merchandising strategies and ensuring the business case is sound?

🚀 𝑨𝒓𝒆 𝒀𝒐𝒖 𝑹𝒆𝒂𝒅𝒚 𝑻𝒐 𝑺𝒌𝒚𝒓𝒐𝒄𝒌𝒆𝒕 𝒀𝒐𝒖𝒓 𝑹𝒆𝒕𝒂𝒊𝒍 𝑩𝒖𝒔𝒊𝒏𝒆𝒔𝒔 𝑺𝒂𝒍𝒆𝒔 𝑨𝒏𝒅 𝑷𝒓𝒐𝒇𝒊𝒕𝒔? 🚀 Merchandising planning is the secret sauce behind every successful retail business, and if you're not leveraging its power, you're leaving money on the table! From procurement to allocation, and from sales to profit optimization, merchandising planning is the strategic process that gets your products flying off the shelves and into the hands of eager customers. But what exactly does it entail? 🔍 It starts with carefully curating your product assortment, handpicking items that align with your target audience's needs and desires. Gone are the days of one-size-fits-all merchandising. It's all about personalization and catering to your customers' preferences. 💰 Next comes inventory management, a balancing act between having enough stock to meet demand without being burdened with excess. With precise inventory forecasting and monitoring, you'll never miss a sale or tie up valuable capital in unnecessary stock. 👀 Now, let's talk about the placement of your products. Ever wondered why some items seem to sell like hotcakes while others gather dust? It's all about strategic positioning. By understanding shopping patterns and optimizing shelf space, you can grab customers' attention and entice them to make a purchase. 📣 And of course, what is merchandising without promotions and pricing? With the right marketing tactics, you can create a buzz around your products, generate excitement, and drive sales. Clever pricing strategies, including discounts, bundles, and upsells, can boost your bottom line and keep customers coming back for more. So, if you're ready to take your retail business to new heights, it's time to embrace the power of merchandising planning. Don't leave your success up to chance - make informed decisions and watch your sales and profits soar! 💼 Are you already using merchandising planning to optimize your retail business? Share your success stories in the comments below! Let's inspire and empower each other to reach new levels of greatness. 💪 𝐑𝐞𝐚𝐜𝐡 𝐎𝐮𝐭 𝐔𝐬: http://www.visulon.com +1 (503) 746-7509 or Email at: [email protected] 𝐓𝐨 𝐊𝐧𝐨𝐰 𝐌𝐨𝐫𝐞: https://lnkd.in/dFTD53nX #MerchandisingPlanning #RetailSuccess #SalesOptimization #ProfitMaximization