Be aware of dead spots so that you can correct underserving areas. Analyze traffic flow and place displays where they will achieve maximum impact. Ensure there is adequate time to ship product and display props.
Merchandising planning system to help maximize turn and minimize markdowns.Budgets for props, lighting, signage, and fixtures.Department turnover plan for seasonal campaigns.The overall plan of how traffic moves through the store.Retail training expert Bob Phillips recommends including the following in any merchandising plan: “The retailer that formulates a compliance plan, enables it with appropriate solutions, and measures its outcome relentlessly will always achieve better performance on in-store programs.” – James Tenser, Principal VSN Strategies Formulate and distribute a retail merchandising planĪ solid plan helps you define the merchandising project, its scope, set goals and stay focused. Execution improves when a retailer puts in place a clearly communicated merchandising plan and then measures the results. Success in retail boils down to execution. This affects the bottom line: companies lose as much as 25% of their promotional revenue to failed execution. Ninety percent of Consumer Goods companies report frustration with promotional compliance, 49% of all planned retail displays are missing, and of the displays that are erected, 60% are executed improperly. When surveyed, only 4% of retailers estimate that merchandising activities are properly implemented across stores. Properly executed promotional displays can register as much as a 193% sales lift! Still, in-store merchandising execution remains a pain point for retailers of all size. Solid merchandising execution can raise same store sales by 3.7%. When done well, merchandising is worth the investment. Merchandising is a key revenue driver which is why organizations allot between 10-24% of their total budgets for marketing and merchandising. The Importance of Merchandising Execution
What to do about Unsuccessful Merchandising Campaigns What to Include on a Merchandising Audit Checklist How to Build a Merchandising Audit Checklist – Formulate and distribute a retail merchandising plan How to Improve In-Store Merchandising Execution Leading brands in Ukraine rely on Bindy for retail audits, site inspections, store walks, site visits and field surveys.
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