How can you measure the success of merchandise innovation initiatives?

In my experience, this can be measured by how the product is received and the overall sales. Did the consumer become engaged? Did they stop and ask questions? Were they Wowed????? In retail it is often the brightest and Coolest Character and POP that for sure starts a conversation about the Brand you are selling.

There are two steps that most merchandisers miss. step #1 what I call magical price points. This is where product retails. I'm not talking mark downs, its where the consumer sees the value. #2 Perceived value pristine quality to match the magical price point. DON'T UNDERESTIMATE THE CONSUMER.

Measuring the success of merchandise innovation is crucial for retailers: 1. Start by tracking sales performance; how the new products/services contribute to rev. growth 2. Customer feedback is very valuable; gather insights thru surveys to gauge satisfaction and identify areas for improvement 3. Monitor market share to understand the impact on competitiveness 4. Analyze the speed of adoption – how quickly customers embrace the innovative offerings 5. Evaluate operational efficiency by assessing the impact on supply chain and inventory mgmt 6. Brand perception – examine if the innovation enhances the overall brand image. By combining these metrics, biz can comprehensively measure the success of merchandise innovation initiatives

Regarding the pantsuit concept and putting it in dressed departments, I wrote that it was 1981 that was a mistake. It should have been 1991. to give you an idea of the success from that decision. The pantsuit concept raise the revenue by 60 million in sales Just in Pantsuit . I decided to go with in the spring, heavy sand washed silk and for fall 30 mm crepe.

Success of merchandise initiatives relates to the %ages increase in sales, the rate of resilience in manufacturing, level of customer satisfaction and %age of quality product being delivered. It also evolves to the loyalty of the customer and brand positioning.

Sell out Sell in Clientes nuevos Recompra tiquete promedio frecuencia de compara lealtad Satisfacción en general y considerar puntos de dolor que se pueden presentar en el recorrido del del cliente

In retail, there are so many factors that can eventually impact the outcome. Fortunately, analyzing data has come a long way for the old days of merchandising. Today with Data science capabilities, advanced analytical models can be built to really evaluate the cause and impact of innovative initiative. multiple sources of data can be incorporated to get insights that can better measure if the impact is due to the initiative or there were other factors at work.

Just now influence is everything. Consumers want what others have and in 20 plus years in the retail space I have never seen an influence like Tik Tok. Love it or hate it, it is fueling trends and getting fast short form content to consumers like never before. We as retail doors have to continue to be innovative while including these trends in forecasting what's next. We have to be willing to adapt and pivot go with what our consumers want and we have to find ways to do this faster then ever. Trends are here today and the fomo it creates at times can be hard on retail trends especially with supply and demand. We have to continue to ask what do we see 6 months out, 1 year out, and 5 years out to continue our growth.

El merchandising es mercancía en movimiento. En otras palabras son acciones que deben de hacer que los productos a servicios lleguen a esos clientes o consumidores finales de la mejor manera. Se busca pues llamar la atención de la mejor manera para ellos de debe de INNOVAR especialmente en ser diferentes y que prefieran estar con nosotros

Realmente estás llamando la atención de los shopper en los canales con las diferentes acciones y desarrollos de Merchandising? Esta generando tráfico a la categoría y producto? Lo recuerdan Genera conversión de clientes? Sugiero medir con herramientas como el eye-traker, race traker y con los datos de sellout