How do you follow merchandising standards?

Sourcing price of merchandise and Selling MRP key factors along with sales return losses is missing which are very important aspects to be considered to retain in business with profitability.

In my experience, I’ve been cross merchandising with my products. Showing what other customers have purchased as a group with certain items. Definitely enhances the shopping experience.

Category assortment should be based on your store strategy and defined target consumer. Clear product roles can guide you in building the right mix. Not all new products can create excitement. Relevance to the market is important. Customer centricity is about providing the right product, displaying them at the right place at compelling price point. Best to source merchandise from countries they are known for. Partner with vendors who are willing to invest on the brand . Merchandising is both science and arts. You have to know where to win . What to lead and grow . When & where to buy and how to sell .

I agree with this but also have to add, in knowing your business you also and customers you must adapt as much as possible to what sells and doesn’t sell, I think this has an impact as well we all go into stores and see daily what doesn’t sell, it’s ok to remove something to add a double facing of a fast selling product until you find other options.

To follow merchandising standards effectively, it's essential to maintain consistency, appeal, and quality in product presentation. Here’s a condensed guide: - Ensure product displays are attractive, organized and aligned with brand guidelines. - Place products strategically to catch customer attention. - Maintain a uniform representation of the brand across all channels. - Regularly inspect products to ensure they meet quality standards. - Design eye-catching promotional displays. - Track inventory levels to avoid stockouts or overstocking. - Optimize the customer journey with clear signage, engaging displays and intuitive product arrangement. - Adhere to all legal/regulatory guidelines for product labeling, advertising, and safety.

Execution is most important part for finish product Strong planing and follow up with all concern dept to make product perfectly and presentable It is important to give input for quality fabric and workman ship Make goods presentable and attractive to end customer

Effective merchandise standards bring numerous benefits to customers, ensuring consistency, quality and transparency in their shopping experience. From accurate product information to efficient navigation and enhanced selection, these standards build trust, reduce returns and create customer loyalty. By delivering a seamless and satisfying journey, merchandise standards contribute to positive word-of-mouth and a strong brand image.

I agree with the significance of adhering to merchandising standards. The execution phase is where the magic happens. Implementing visual merchandising principles like color, balance, and hierarchy creates captivating displays. Utilizing retail merchandising techniques, from strategic product placement to effective signage and lighting, maximizes space usage and enhances the shopping experience. It's also essential to adhere to store, category, and industry regulations, ensuring safety, hygiene, and compliance are maintained throughout.

Placement is the key to any product . Gross profit of item placement is a must. As long as you follow planogram and proper tagging , your all set .

Our planning will never be 100% accurate as we work in markets where dynamics keep changing due tangible and intangible factors, hence the evaluation game becomes more important for the success of the brand. GBB( good better best ) movements , ABC analysis and ISTs play a dominant role for effective management of inventory. Also the evaluation of movement costs are important to arrive at a sustainable window.

In my view, monitoring your merchandising is the crucial link in maintaining high standards. Regular checks on displays help identify and rectify issues like damage or stock shortages promptly. Measuring performance through metrics like sales and customer feedback ensures effectiveness. Staying vigilant about market changes, whether it's seasonal shifts, evolving competition, or changing customer preferences, is vital.

Evaluate your merchandising efforts by compiling information from numerous sources. You can use data like sales, comments from customers, website analytics, foot traffic, or anything else that helps you achieve your goals. The products or categories that did well or poorly in sales should be reviewed. You may learn what sales strategies work and what don't by observing patterns and trends.

In my view, evaluating merchandising efforts is the key to continuous improvement. By analyzing data like sales reports and customer feedback, we gain valuable insights into what's effective. Comparing outcomes with initial goals and standards helps pinpoint areas for enhancement. Furthermore, regularly reviewing the merchandising process and practices allows us to adapt and refine our strategies.

The 1st requirement for merchandise should be unambiguous and explicit. Avoid using ambiguous phrases like "good" or "recent." Consider using the phrase "Product ordered 3 calendar days ago" instead of "Product ordered recently," for instance. Numbers should be used in merchandise, not words. The 2nd condition for merchandise should always be current with the related facts and data.

The objective of merchandising is part of the BOFU strategy (Bottom of consumers’ funnel), and refers to closing the sale when your customers have reached into the store. Good merchandising frees up time, makes the selling process simpler, enhances the buying experience for consumers and drives sales growth. To all of the above stated, I would add that profitably per square meter/feet is a key factor for Merchandising success; what’s it worth having a super nice, well illuminated fixture if within your offered portfolio you mostly have a “white elephant”? And there’s where Merchandising merges with Category management, to secure that additional of being a nice display, it sells-out what consumers want.

In my view, embracing innovation is essential in adhering to merchandising standards. It's important to explore new technologies and trends that can enhance the shopping experience. Additionally, fostering a culture of creativity and collaboration within your merchandising team can lead to fresh ideas and out-of-the-box solutions. Don't forget the power of feedback from both customers and frontline staff; their insights can be invaluable in refining your approach. Lastly, staying environmentally conscious by considering sustainable merchandising practices is not just a trend but a responsibility towards the future.

The overall goal of all merchandising standards should be to provide a better experience for the customer. This can include ensuring prices are clearly posted, offering excellent customer service, and creating a pleasant place to purchase.

The 5 R's of merchandising are the right products, at the right place, on the right time, in the right quantity at the right price. Right Time: Ensuring products arrive to stores at the right time for seasonal launchings and continuous replenishments before sell outs.