Retail Merchandising from All Angles
Using mobile solutions like FORM MarketX to gather and analyze quantitative data will allow you to gain objective visibility into how your in-store marketing and merchandising efforts impact the customer experience. You can then use this information to build institutional knowledge, improve execution, and develop excellence.
Despite ecommerce sales continuing to climb year-over-year, the vast majority of retail sales are still driven by brick-and-mortar shopping. When thinking about retail merchandising and marketing execution in physical environments, it’s critical to consider every aspect of the customer experience to ensure expectations are exceeded in the areas where their aspirations are the highest. To accomplish this, it is essential to get an unbiased view of your execution by stepping away from your own perception of the store environment and objectively measuring your retail merchandising and marketing performance.
“Anchor points” are high-traffic locations in your store or restaurant where you prioritize execution efforts. Identifying these points and quantifying their performance will allow you to track and improve your efforts over time. One way to achieve this effectively is to encourage your team to get involved and incentivize innovation. Finding a healthy balance between establishing, organizing, and communicating institutional knowledge and encouraging autonomy is a great way to give your team a sense of empowerment and ownership over their unique store environment. Sharing top product displays across locations and rewarding teams who excel reinforces what success looks like and makes high-performing retail displays easy to replicate and scale in the future.
Using Data Analysis to Improve Performance
FORM MarketX makes it simple to take merchandising data and images your team collects and transform them into something meaningful and actionable. Share feedback and information between retail stores through the mobile app, create custom dash and leaderboards for new initiatives, and integrate in-house sales data to gain further insights regarding the effectiveness of your team’s performance.
The merchandising and marketing data retailers collect can help create more consumer-friendly store navigation, maximize brand influence, and promote a better overall shopping experience. Analyzing the effect of visual merchandising, such as product displays and signage, as well as customer service, décor, and inventory management will help you better understand how to improve your in-store layout and increase sales.
Mobile technologies like FORM MarketX are the best way to collect, analyze, and react to data. They are investments in knowledge and mechanisms that can inform your business decisions and facilitate positive improvements in your team, your store environment, and ultimately, your bottom line.