One of the best ways of enhancing the sales of a retail store is through proper merchandising. Good merchandising improves the image of your business, entices customers to enter the store and enhances their shopping experience. However, here are some mistakes you need to avoid:
1. Having too many products
In an attempt to make as much profit as possible, many retailers try to stock as many different items as possible in their stores. While this could lead to more sales, it could also end up being counterproductive. Having too many products might only confuse customers and make it difficult for them to find what they are looking for. It would therefore be advisable to specialize in a few related products. Choosing the right products will significantly enhance your chances of success.
2. Going out of stock
This is one of the most common merchandising mistakes. Products could go out of stock due to reasons such as late ordering or delivering. Promotional or seasonal inventory is also likely to go out of stock. However, when customers visit your store, they expect to find the products that they want on the shelves. If they cannot find what they are looking for, they might leave and never come back again. Therefore, you need to monitor your inventory closely to ensure it does not run out.
3. Monotonous displays
One of the best ways of attracting customers to your store is by having an attractive display. However, if you don’t change your display frequently, customers will get bored. In addition, it could create the impression that your store and products are outdated. To avoid this, be sure to change your window displays often. This will entice customers to come in and see what you have to offer. In addition, you could rearrange items on the shelves once in a while as well as change the signage.
4. Poor maintenance
Besides having great displays, retailers need to ensure that their stores are properly maintained. A professional looking and well maintained store will leave customers with a good impression and will also enhance their shopping experience. Therefore, get rid of all the torn packaging, clutter and trash. Make sure your shelves and products are free from dust and fingerprints. Such regular housekeeping will significantly boost the reputation of your store.
5. Poor signage
When it comes to merchandising, signage is very important. Whether you are selling a book, shoe, jewelry or foodstuff, you need signage to show customers what exactly what the product is and how much it costs. This could be something as basic as ‘Hair dryer: $100’ or signage with a more detailed description. If the customer cannot immediately see what an item is or its price, they might get frustrated and leave the store. Therefore, be sure to have clearly visible signage for all your products. When the price of an item changes, the signage need to be updated immediately to avoid confusion.
Couldn’t agree more with the first one! When you spread yourself too thin you end up looking too cluttered and you miss the opportunity to target a niche. Do your research and see who your customer is, this way you know exactly what to stock and what not.