Merchandising is a
practice, which contributes to the sales growth. At a store level,
merchandising refers to the display of products in a way that it stimulates
customers to make a purchase. The most successful retailers spend a lot of
effort to develop their product placement strategies, capturing the best places
on the shelves and providing higher sales.
In retail stores merchandising
involves promoting sales using product design, packaging, store and shelf
location, pricing, and so on. When implementing a merchandising strategy for
your brands, one of the most important things is to maintain a sufficient stock
of products. Out-of-stocks is truly a nightmare both for suppliers and
retailers. The most common reason why a customer leaves the store without the
item he was willing to buy, is empty shelve. Lost sales not only significantly
impact a company’s bottom line, but also damage brand trust and result in lower
customer loyalty. To maximize the value of in-store merchandising activities we
recommend checking out the following tips to keep your products always in
stock.
Assortment.
Define a minimum set of
SKUs for each point of sale. Specific figures may vary depending on the demand,
store attendance, product type and store assets.
How merchandising software can help?
To make the data on SKUs
available to office managers and field merchandisers, implement a merchandising software solution. Merchandising software allows aggregating all data on products, customers, locations, SKUs,
price lists, and assets in a Cloud database, available from browser for office
managers and through mobile devices for field merchandisers. Using a
merchandising software solution you can always set up recommended quantities
for each product, linked to the particular store, and your merchandisers will
have mobile access to this data when making a product purchase order using the
merchandising mobile app.
Stock.
Maintain an optimum
supply of goods, providing a permanent presence of SKUs in each retail location.
Due to the fact that each retailer tries to reduce storage space to extend
sales areas, it’s critically important to ensure accurate and timely delivery
of goods.
How merchandising software can help?
Empowered with a merchandising software solution, your
merchandisers and sales reps always have access to the history of retail visits
and previous orders, along with the results of merchandising audits. This
allows each field rep to have a clear picture of retail conditions in each
store. Having this kind of data literally at their fingertips, merchandisers
can easily identify previous out-of-stock patterns in each store, and make
order to have products delivered at the right times to prevent out-of-stocks.
Providing a real time data workflow, merchandising software allows accelerated
reordering. As soon as a merchandiser discovers the lack of product at a point
of sale, this information is instantly available in the office, so the manager
can quickly take appropriate actions. Moreover, merchandising
software gives merchandisers an opportunity to make product orders right at the
point of sale with just a couple of actions.
Presence.
Lost sales often occur
when the products actually available from stock, for whatever reason, were not
put up on the shelf. Companies should conduct regular merchandising audits
performing shelf checks to ensure having full set of SKUs properly located on
the shelf, and at the right price.
How merchandising software can help?
The up-to-date merchandising software solutions provide mobile tools to perform all kinds of auditing activities using tablets or smartphones. Empowered with a mobile app for merchandising, your merchandisers can make photo-reports, collect electronic signatures, and evaluate the quantitative parameters of the layout. All the data, collected at points of sale, is instantly transferred to the corporate database and is available for managers. This allows minimizing the time between discovering of non-compliance and taking appropriate actions.
Turnover.
The basic rule is that
you first need to sell a product, brought before to avoid the return of
products that have expired. Products delivered at an earlier date, must be
exhibited on the shelves in the first place. When a new product arrives, it
should be put back on the shelf.
How merchandising software can help?
Merchandising software
solution provides product bar code scanner to fasten product search when
performing a merchandising audit. Along with the opportunity to set up sell-by
date for each SKU, it allows merchandisers to maintain optimal product
turnover.
Register at www.visitbasis.com and you’ll get access to VisitBasis
merchandising software completely free.
Call us today +1 (800)
497-6293 (tall free), or schedule a demo, to see how merchandising software
works, or read our previous article to learn more how to automate merchandising
activities.
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