Low Cost and No Cost Store Merchandising Techniques

Effective merchandising is an important element to increasing and maintaining a high sales volume. You might think merchandising will cost you a fortune, but there are many strategies you can implement which will actually make you money in the long term. Let’s look at a few cost-effective techniques you can implement in your existing merchandising strategy.

• Start Merchandising Outside

The exterior of your store is the first thing customers will encounter, and it is a crucial foundation in making that all-important first impression. Ensure your signage provides visibility as to your store’s location.  Your store’s exterior should also clearly separate you from your competition. While your windows are excellent opportunities for promotional displays, create your windows so that customer activity inside the store is clearly visible from the outside.  If a store looks empty, this may set off alarm signals in a potential customer’s mind. Also bear in mind that customers are also drawn to carrier branding, and more generally speaking, well lit stores with simple yet attractive colors.

• Effective Interior Signage

Remember that your interior signage is just as important as your exterior signage.  The use of moving images, as well as holographic or lenticular signs, has proven especially effective. Due to their cost, however, it may only be possible to use these for high margin products. Low cost, but effective interior signage solutions can be as simple as the use of simple, crisp graphics and messaging. Promoting the carrier brand as much as possible is a further key to effective interior signage.

• Consider Traffic Flow and Display Positioning

Marketing experts agree that traffic flow and display placement throughout a store are integral elements in generating sales. Keep location in mind every time you set up a new display. Customers generally make their way from right to left through a store so it pays to stagger your displays in the same way

By positioning your cash wrap or POS at the back of the store, customers are forced to walk through the entire store, and more importantly, past feature product displays. This increases the likelihood of feature displays being noticed, which in turn will increase sales. Dedicated counters for accessories and service are also low-cost ways to optimize traffic flow through your store by providing for rapid in and out for customers.

• Effective Product Displays and Product Identification

Product displays are only as effective as you create them to be. When merchandising your displays, there are a few no-cost strategies for making them as effective as possible. First, always position accessories with their related devices. This motivates increased add-on sales. Additionally, use the “Two-Foot” rule.  This means accessories should be positioned no higher or lower than two feet away from the primary device. Use shorter pegs with fewer accessories to give the display a look of exclusivity and limited supply.

Clearly identifying a product’s features and benefits on fact tags is also a low-cost way to increase the effectiveness of your merchandising. Remember to list what each package includes, pricing for upgrades and new activations, as well as retail versus wholesale pricing.

• Experimental Marketing and Promotions

Letting the customer get touch and play around with a new device is one of the most effective merchandising tools available. If possible, implement security devices in a way that does not inhibit the customer from trying out a new gadget. Allowing the customer to sit while doing so will also increase a display’s potency.

Promotions are also a meaningful merchandising tool. Give your customers an incentive to buy by promoting combination packages and bundles at a discount. Make sure these are reflected in your signage. The same promotions can be used in marketing campaigns to drive existing customers back into the store.

• Take Advantage of Customer Behavior

Understanding what makes a customer tick is half the battle in merchandising. Once you have this knowledge, you can use it to improve the strength of your in-store displays. General tips targeting customer behavior include using colors in your merchandising that are pleasing to the eye and categorizing merchandise so customers can easily make self-service purchases. Furthermore, use all five senses when merchandising. Beyond pleasant colors, interactive displays, and soothing background music, why not use the smells of homemade bread or cookies, just like real estate agents do?

• Merchandise Using the POS and Your Team

Use the cash wrap, as well as your sales staff, as your biggest merchandising opportunities.  Your POS can be set up to give the customers an experience before leaving the store. Position the best selling accessories nearby and get your sales associates to use them actively for ultimate visibility.

Your sales team is a strong element powerful merchandising. Encourage them to sell add-ons and upgrades by providing incentives to regular contests. Implementing a generous employee purchase program will encourage staff to use products and expand their product knowledge. By encouraging sales staff to use current devices, the customer gets a chance to see them being used for everyday applications. Last but not least, make your employees aware of basic marketing techniques, as well as your expectations for in-store merchandising.