Is it necessary to spend big bucks on a retail merchandising overhaul to bring new customers into your store? Absolutely not! While a full remodel would be nice, there are other things you can do to update and revitalize your store’s layout without spending a ton of cash.
As a store owner, your bottom line always matters — especially in an uncertain economy. The everyday costs of maintaining and operating your store are a top concern. Additionally, you want to keep your store fresh to give customers a superior shopping experience. Balancing these priorities is key for running a profitable business.
Here’s how to reenergize your retail merchandising efforts to create a different and enticing customer experience without breaking the bank.
Fix Your Floor Plan
One of the easiest ways to refresh your retail merchandising involves changing up your store’s layout. Picking the right floor plan allows customers to better connect with the products they want — as well as products they didn’t know they wanted — which can boost sales.
According to BigRentz, 50% of your store’s floor plan and products are never browsed by your shoppers. That’s a lot of wasted retail merchandising space. If you’re able to freely move shelves, racks, and displays, switching up your store’s floor plan can be an inexpensive update.
Picking a Plan
BigRentz highlights four-floor plan models proven to help direct customers through your store efficiently and effectively. Which one you choose depends on the type of store you own and your sales goals.
The Grid floor plan is an effective way to direct shoppers through your store so they see every product available. Consequently, foot traffic flows from the entrance to the checkout counter while maximizing the time customers spend in your store.
The Free-Flow plan allows customers to stroll freely throughout your store, offering wider views and a meandering experience. If you have unique displays and want to encourage your shoppers to browse, this is the floor plan for you.
The Loop plan allows customers to enter your store in one section and explore the rest by taking a lap around the perimeter. Maximize your retail merchandising efforts by lining the outer walls of your store with products and including an abundant center display for customers to peruse.
The Angular floor plan is an abstract layout that allows customers to take their time and “get lost” in different curated sections of your store. If you own a boutique or specialty shop, an angular floor plan will encourage customers to revisit the same areas of your store, again and again, knowing that they’ll have a unique experience each time.
If you’re not sure which floor plan to choose, experiment, and track your sales data to see which model results in the largest revenue yield. Refreshing your store’s layout every few months is an inexpensive way to maintain customer interest.
Find the Right Retail Merchandising Spots
Another way to refresh your store’s layout without making a massive monetary investment is to experiment with the placement of high-ticket items and in-demand goods.
Shoppers determine your store’s value in the first five to fifteen feet of space they encounter after walking through the door. Placing your high-value products in this threshold area where they’re clearly visible heightens your store’s perceived value.
Consequently, customers will be encouraged to browse through the rest of the items in your store to find complementary goods.
Are you hoping to direct the flow of traffic through your store? Try focusing your retail merchandising efforts in the area that customers see when they turn right after stepping through the front doors. By doing so, 90% of customers will turn right and fall into the desired traffic flow.
At the Back
Another inexpensive retail merchandising secret is to display essential products and popular brands at the back of your store.
When customers must walk through your whole store to get to these products, they’re exposed to more of the other items you have for sale. Impulse purchases may increase, boosting your revenue.
Additionally, the width of your store’s aisles and other pathways can make or break a sale. Known as the “butt-brush effect,” if shoppers don’t think they can pass each other in an aisle without touching, they’ll avoid the space and the products it contains.
Aisles should be at least four feet wide to ensure that customers have a comfortable and enjoyable shopping experience.
Engage the Senses
Perhaps one of the easiest and most budget-friendly ways to refresh your retail merchandising efforts is to engage customers’ senses. You can change the “feel” of your store without changing the layout at all!
Does your store have a speaker system in place? Boost sales by playing music that fits your store’s environment. For example, if you sell handmade pasta or gourmet olive oil, try playing Italian music in the background. Your customers will have a better shopping experience and might buy more products.
People also love the ability to try items before making a purchase. Set up a product display and offer food samples for customers to taste (and smell!). The small cost of offering product samples for free can lead to a big increase in sales.
Here at Excellence Industries, we understand your desire to attract customers with effective retail merchandising. To learn more about how we can help with all of your unique commercial refrigeration needs, contact us today!