Merchandising is a term for the techniques used to attract potential customers to buy products of a particular company or store. It should be one of the most essential marketing strategies which helps in promoting a particular product and getting that product noticed by the target market. However, merchandising isn’t just limited to display products in a certain way; there are different types of merchandising which are used by companies across the globe and they include:
The goal of visual merchandising is to attract consumers to products, maintain consumer attention for as long as possible, and communicate a meaningful message. To create a successful strategy for your store or space, visual merchandising uses specific display techniques to grab the consumer’s attention and highlight products. These techniques may include product placement, good lighting, effective design, clutter management, proper spacing between products, or an overall pleasant atmosphere.
Retail Merchandising is the process of creating an environment in which consumers will be enticed to purchase products. A retail merchandiser must have knowledge of store layout, where products are placed, and what demographic is attracted to which products. Retail merchandising is used in retail stores, malls, events, or brick-and-mortar outlets. Retailers employ salespeople to sell the items.
Digital merchandising is a specialized type of online marketing. Online retailers use digital merchandising to promote their products and services, resulting in higher conversion rates, higher product sales, and higher customer satisfaction.
Omnichannel merchandising is a creative blend of strategies and tactics designed to meet the needs of consumers as they move along their path to purchase, whether online or in-store. It can involve using your physical store space as a hub for online traffic or integrating social media with in-store campaigns. Omnichannel involves understanding what your customers want at every step in their journey and reacting accordingly.
Product merchandising is the process of promoting products to generate revenue.Product merchandising personnel work with store managers and product managers to identify opportunities for sales, such as inventory shortages or new launching products. They use point-of-sale equipment, posters, and shelf displays in order to attract customers and increase product sales.
In a new product launch, the target market is expanding gradually. The company must possess a clear understanding of its customer’s behavior and expectations. So they can be able to forecast the future sales of the product and therefore, be able to make an informed decision about its promotional activities.
Merchandising is often the difference between a profitable business and one that’s seriously struggling. While an attractive, well-merchandised store usually contributes to better customer service and more sales, the wrong type of displays can do the opposite. Merchandising can be simple and inexpensive or very sophisticated – it depends on the type of products you have and where your customers shop.