Retail merchandising refers to the promotional activities that help brands and retailers sell more and gain maximum profits. A retail merchandising company studies and understands the brand and its offerings, retail environment, customer behavior, etc.
Based on the insights, it helps curate a merchandising plan to help businesses achieve their goals. The professionals essentially enhance the look and feel of a retail setting to offer a great shopping experience that engages customers and entices them to purchase certain products.
Merchandising Activities Post-pandemic:
The COVID-19 pandemic managed to affect the retail sector in multiple devastating ways. Different challenges emerged as a result of the global crisis. One among those was that customers moved to online shopping platforms that offered convenient shopping experiences.
However, the retail businesses have gradually come back into action and are fetching newer ways to target customers. Retail merchandising companies can work across an omnichannel sales environment. For instance, in-store promotions must involve ideas and activities that cater to customers who have come to expect a comfortable shopping experience, instant gratification, and immediate replies to their queries.
Why Hire a Retail Merchandising company?
Brands and businesses need to hire a retail merchandising company to ensure efficiency in sales and drive maximum ROI. Enhancing customer experiences is the key to attracting customers, engaging them, and ultimately persuading them to purchase.
Here are some significant facts about retail merchandising companies:
They have the resources and expertise:
Merchandising companies have the resources and expertise to promote brands and products effectively. They promote across all sales channels, be it a physical brick-and-mortar store or online eCommerce platforms. Brands or retailers individually are most likely to find it challenging to curate a holistic merchandising plan.
Retail merchandising companies invest in innovative solutions:
Most retailers are still managing data using spreadsheets and other manual methods. As effective as that may be for some, merchandising campaigns distributed across various channels need a far more complex structure that stores data for analysis. Well, managing complex data manually gets cumbersome. Thus, retail merchandising companies invest in advanced digital solutions and more efficient and impactful software.
Merchandisers analyze data and optimize strategies:
Initially, a team of skilled merchandisers draws out a plan following the brand values, retail market demand and supply data, consumer psychology, etc. Merchandising companies have analysts responsible for overlooking and studying the data gathered by field merchandisers. Merchandisers can tweak the existing strategies, discard plans, employ alternative methods, etc., to drive maximum sales based on the data.
If you’re still wondering whether merchandising is essential in today’s retail scenario, here are a few facts:
● Physical stores are preferred by 62% of consumers as they can see, touch, and feel the products before purchasing them.
● Employing innovative technologies, signages, attractive displays, and skilled salespeople in retail stores can ramp up sales.
● Retail sales are increasing as the sector begins to recover from the challenges put forth by the pandemic.
Retail merchandising companies employ the latest solutions for brands and businesses. Retailers don’t need to develop a team or build in-house staff for merchandising. Merchandisers help companies compete with those at the top of the game. An excellent retail merchandising company can rescue brands and retailers from the threat of competition by giving them an edge over the others.