THE UILTIMATE GUIDE TO MERCHANDISING TO 2019

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THE UILTIMATE GUIDE TO MERCHANDISING TO 2019

Visual Merchandising: Catching Consumers' Eyes

Visual merchandising is a merchandising tactic that focuses on visually appealing to the consumer. Some examples of visual merchandising displays include window displays, POP displays, and cross-merchandising displays. Factors such as display color, design, ambience, and theme are all extremely important to visual merchandising.

Monitoring Competition

Keeping an eye on your competition is necessary to remain relevant in the market. It also can provide you with insight and inspiration on new tactics to use with your audience. Have your merchandising team record your competitors' price, promotions, labels, shelf location, and packaging, as well as any other metrics you wish to keep tabs on. By collecting data on your competitors, you can practice competitive pricing and learn from their successes or losses.

Merchandiser Job Description

Some of the responsibilities of a merchandiser include, but are not limited to... •Collaborating with suppliers, manufacturers, and retailers to ensure proper execution of merchandising plans •Ensuring retailer compliance with merchandising strategies •Creating and organizing promotions and advertising campaigns •Maintaining inventory of products •Gathering information on market trends and customers’ reactions to products •Analyzing sales data - reporting growth, expansion, and change in markets

Merchandisers are responsible for everything that happens to a product from the moment it is delivered to the store to the moment a shopper picks it up off the shelf. They monitor product appearance and supply in various stores throughout their designated geographic area. By working closely with both suppliers, retailers, and manufacturers, they make certain that the promotion of specific products will increase sales over a period of time.

What Is Merchandising?

Merchandising takes into account how your products come across to consumers as they interact with them in a retail setting, and applies certain techniques to make those interactions as impactful as possible. It can consist of activities carried out by both marketing and sales, such as organizing shelves, setting up promotional displays, and tracking results of merchandising efforts. Having a strong understanding of merchandising, how to execute it, and how it impacts your business is essential to growth.

Merchandising Audits

One core method of tracking merchandising data is through merchandising audits. Merchandising audits are essentially an official report on retailer compliance and rep efficiency. They measure the quality of the displays in the retailers you sell to and help identify successes and areas for improvement. Merchandising audits are typically performed on a periodic basis to make sure that the product is consistently available and managed well on the retail shelf. Performing merchandising audits answers questions such as, “what displays are most appealing to my audience?” “where am I selling the most of which products?” and “which retailers do I need to check in with more often to ensure retailer compliance?”

Data-Driven Merchandising

Subtopic

Brands should always emphasize the importance of the three types of retail execution data: Activity Data, Sales Data, and Observational Data. Merchandising data most often falls under Observational Data: Store-level data that your team observes and records about your product in retail locations, such as the condition of your displays or position on the shelf.

Ensuring Retailer Compliance

With so many different products populating store shelves, sometimes retailers are understandably less concerned with perfect product presentation than they are with sales and profit. Where retailers fall short, merchandisers can pick up the slack by focusing on retailer compliance strategies. Merchandisers should make it a habit to monitor POP displays, check for product voids, and address any issues of product misplacement with a store manager.

Staying On Top of Orders

Out-of-stocks result in a direct loss of brand loyalty and equity, and encourage shoppers to reach for competitors' products, Procter & Gamble found. This means that OOS instances not only cause brands to lose sales revenue in the short term, but also future sales revenue as long term customers find new favorites. Merchandisers can avoid these scenarios by staying on top of account orders, making frequent store visits, and communicating consistently with stores and the reps assigned to them.

Merchandising Best Practices

A clean, well-stocked shelf will look more appealing to customers than a unkempt, nearly empty shelf. Merchandisers should pay special attention to the aesthetic of even their common shelf displays; while endcaps and dump bins are a great way to pull in some extra sales, your home shelf is where most customers will look for you. Simple fixes such as making sure there aren’t any gaps where your products should be on the shelf and making sure your products are all facing the correct way make a huge difference in the long run. As new products role in and merchandising resets take place, focusing on clean product presentation is an evergreen approach

Who Does Merchandising?

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Almost any brand with a physical product uses merchandising tactics. From grocery merchandising, to cosmetics merchandising, to beer merchandising, catching the eye of the shopper is integral to increasing sales. In addition to brands that carry out their own merchandising activities, many retailers also engage in merchandising, as they have the insight into the inner workings of their own store and are well-versed on what works and what doesn’t for their customers.