We have all walked into a store looking for a certain product and found ourselves wandering around furiously trying to locate it. Maybe you’ve driven up to a store and left without ever walking through the door because you didn’t like the vibe of its outdoor aesthetic. These are just a few examples of why it’s important for retail establishments to frequently review their visual merchandising and marketing strategies. Remerchandising sounds difficult but it’s not as hard as it might sound. In this month’s column, we’re going to talk about what remerchandising is, why it matters, and how you can get started!
What is remerchandising?
Remerchandising is a marketing practice that uses floor plan, color, lighting, displays, technology and other elements to attract customer attention. The purpose of remerchandising is to ensure you are adequately using your retail space to attract shoppers and generate more sales. Successful merchandising relies on the correct product mix, appropriate inventory, and a fresh, neat and clean appearance, and the purpose of remerchandising your store is to drive higher sales and better profit. The benefits of remerchandising can include higher profits, more satisfied shoppers, more engaged buyers, faster inventory turnover, and increased customer loyalty.
Does remerchandising have to be extensive?
Often retailers shy away from remerchandising because they feel intimidated, but the process can be as small or big as you want to make it. At East Coast News, we often work with stores that simply want a quick facelift of sorts to make themselves even more inviting. In that case it’s about making sure the parking lot and windows are clean, signage is easy to read, and the area is well lit. Additionally, they may update the interior layout to ensure there is a clear and intuitive path for shoppers with sections that are clearly called out with signage.
On the other hand, stores also can benefit from large-scale remerchandising where an extensive analysis of the store’s layout is done, along with review of the current inventory movement and sales. From there, the store can make decisions about what needs to stay and what needs to go, as well as design a layout plan that makes sense for shoppers. This process takes a bit longer but is well worth the time and effort and it can breathe new life into a store!
What should you think about when remerchandising?
I advise retailers to ask themselves a few key questions about their store: Am I servicing my community? Do I have the newest items? What are my top sellers and what’s slow-moving? What brings in the most profit? What can I retire from the shelves?
From there, they can think about the four key elements of visual merchandising:
1. Store Exterior: Is it clean, safe and welcoming?
2. Store Layout: Is the store laid out to direct consumers in and through the store in a convenient and logical way?
3. Store Interior: Is it well lit, bright, inviting?
4. Interior Display: Are there items displayed so consumers can touch and feel them? What is the interaction with products like? Do the products have information to make decisions on their own if they are too shy to ask questions?
How do you get started?
There are several ways to get started with remerchandising. First, review the items in your store. Do you have items that are not selling? Are you up-to-date on the newest items and trends? Consider selecting some low-selling or out-of-date items to put on clearance, making room for new products or better-selling items. Reach out to your distributor for an up-to-date listing of top sellers and bring those items in. Additionally, ask about display, educational information, and eye-catching signage you can use in store, which many vendors offer for free. Place new items in a well-lit area toward the front of the store to make it easy for shoppers to distinguish from products they have already seen.
I also recommend working with your store staff to figure out a new layout that works. They may notice things when walking the floors with customers that can help you. Make sure there are impulse and upsell items placed by your register and convenient for your staff to reach.
Remerchandising might seem daunting, but it can be an incredibly effective way to move merchandise, boost sales, and keep your customers coming back for more!
Lynda Mort is the vice president of East Coast News. With 25 years of experience in the adult market, ECN is a major, respected distributor of adult novelties in the U.S.
