Use Assortment Planning to Maximize Your Retail Store’s Profitability

A great looking retail floor is important, but one that increases sales and profitability is better. Assortment planning is one way to maximize your retail floor to boost sales and support a positive customer experience.

 

Just as you use a collection of marketing tactics to “convert” customers, or get them to buy a product, visit your store or engage with your brand in some way, assortment planning helps you optimize your retail space for conversions, too. Here’s an introduction to assortment planning, and how you can use it to boost sales and profits.

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An Owner’s Checklist: 7 Things You Need for Opening a Retail Store

Even though it does take a tremendous amount of planning and market research to help nail down your target audience, opening a retail store is an exciting experience. Once you have a business and marketing plan in place, you’ll need to find the right retail space that suits your needs and can offer the best experience for your customers.

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The Importance of Color in Retail Store Design

Color is special because it is a malleable thing, and there is no way to pin it down. Color evokes a mood, a time and can change, or stay the same—making it in a way, kind of alive. We see color all around us in a super-saturated way that makes us aware of even little changes, and so when a retail store design gets its color right—there is a kind of energetic frequency that pairs up with the visible products in the space, speaking volumes to customers about your brand.

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6 Retail Promotion Tips to Boost Springtime Sales

Spring isn’t the greatest retail season, and to some stores it could seem like a letdown, especially if they experienced big Christmas holiday sales increases. But keying up the right promotions as the weather changes could delight a large audience and keep sales moving in the first half of the year. Keep these six promotion tips in mind this spring to help you capture more foot traffic and eyeballs to take in your spring retail displays.

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Point-of-sale statistics that will make you more money

The point of purchase (POP, also known as point of sale) in your store—be it a register staffed by a salesperson or self-checkout—is a space with unlimited potential for incremental sales. People are drawn to pick up “one last thing” as they wait in line or run their goods by the scanner. In fact, most can’t resist. Keep these retail statistics in mind as you refresh your store displays for the new year.

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6 of the Best POP Displays and Why They Work

Never underestimate the power of an impulse buy. Point of purchase (POP) displays are popular for exactly that reason—they entice people to buy something they may not have otherwise, simply because it’s handy at or near checkout. Whether it’s candy at the grocery store, a bookmark at the bookstore or a car charger at the auto parts store, we’ve all done it. Consumers are 10 percent more likely to add impulse items to their purchase when shopping in-store vs. shopping online. Using POP displays near the moment of checkout is certainly an effective way to increase in-store sales.

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Holiday Window Display Ideas for Retailers

No matter how big or small your retail business may be, it is important to create enticing window exhibits that draw foot traffic into your store. Your window showcases the first impression of your shop — it’s your chance to catch someone’s eye and encourage them to come in and browse. The holiday season is no exception. In fact, window displays are actually most prevalent during the holiday season. Many big box retailers create magnificent holiday window displays that attract thousands of visitors each year.

 

In this article, we will share some of our favorite holiday window displays from years past as well as some tips you can steal from these retailers for creating your own window creations. We hope these stunning examples and our quick tips will provide you with some inspiration this holiday season.

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7 Ways to Use Cross-Merchandising to Increase In-Store Sales

Despite the very real pressures facing many retailers, there are still well over 400,000 brick-and-mortar stores in the U.S., according to Statista, the vast majority of which are small businesses. While online shopping has taken off with millennials, Gen Z consumers overwhelmingly prefer to do their shopping in stores—81 percent—and 73 percent said they like to discover new products there. Cross-merchandising by using one product to sell another is a tried-and-true way to increase in-store sales per customer. Why sell just one item when you could be selling two, three or more? Here are seven ways to cross-merchandise effectively in your retail store.

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Color Psychology for Marketers & Merchandisers

Carefully choosing display elements is an essential step in any visual merchandising project and incorporating the right color for your brand or product can bring your display to the next level. But why not stick to a classic black or transparent scheme? While transparent or black display fixtures are usually a safe bet, research from colorcom.com reveals that 52% of shoppers won’t return to a store based on aesthetics alone. A study by 97thfloor.com shows that color advertisements engage customers 42% more than black and white.
 
If you haven’t used color in your displays before, don’t be nervous! This guide will help you decide which colors can psychologically promote and sell your products and services. Continue reading Color Psychology for Marketers & Merchandisers