The Difference Good Retail Merchandising Can Make
Author (Gareth Hoyle).
Submitted on Thu, 15 Sep 2011
If you want to increase your sales a review of your retail merchandising will make all the difference in the world. If you get this aspect of your retail business right your profitability will increase too.
Many people think that retail merchandising involves only the way you display your product. Years ago that would have been true, but now it involves the relationship you have with your supplier, how you set your price, how you display the product and how you market the product.
Why Retail Merchandising Involves Your Supplier?
Your relationship with your supplier plays a key role in retail merchandising. On a basic level a good relationship with your supplier ensures that you are offered products at a good wholesale price. Your relationship with your supplier dictates whether you get new products early, always have stock when you need it and that you get a good share of special offer stock.
Your supplier can also help you with how you display products by supplying you with free retail merchandising materials and training. You can use these materials to better present their products to your customers.
The Growing Importance of Marketing in Retail Merchandising
Years ago retail advertising options were quite limited for small to medium sized companies. You advertised in store, via flyers or in local newspapers. Only large companies could afford to do anything else and advertise in magazines, national newspapers and on the TV. This gave large businesses a big advantage over their smaller competitors because they could reach a national audience. Then the internet came along and opened up the option for all businesses to market their products to a far bigger group of potential customers.
This is great because you can use the internet too. However, there is a flip side because every one of your competitors can do the same too. Now if you do not make marketing part of your retail merchandising you will not be seen or noticed at all you will be buried out of sight of your customers by those that do market. Marketing is now essential.
About the Author
If you want to get the edge and learn all about retail merchandising visit Encounter Magazines site. They have a wealth of valuable material for today’s retailers.
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