What is Merchandising?Merchandising is the promotion of the sale of goods that can employ pricing, special offers, display and other techniques designed to influence consumers’ buying decisions. The concept of merchandising is based on presenting products at the right time, at the right place, in the right quantity and at the right price to maximize sales. Show
Merchandising StrategiesWhen it comes to merchandising strategies, a “one size fits all” approach won’t suffice. Depending on the overarching objective for the retailer, brand, and category, the merchandising strategies should vary by category or even by segment to target a specific goal, such as developing customer loyalty, increasing sales, driving footfall/traffic, raising awareness of your brand, and so on. In a retail setting, some of the most popular methods to compel shoppers to buy include:
In an eCommerce setting, the most effective ways to entice people to make a purchase include:
The Importance of Merchandising
Benefits of MerchandisingSince merchandising is all about selling, the ultimate benefit of effective merchandising is higher sales and better profit. Stores that manage to create a seamless shopping experience and effectively guide consumers to purchase completion, enjoy an array of benefits including:
 Differences Between Sales and Merchandising?Although sales and merchandising are two closely related functions, they are not the same thing. Merchandising is the process of leading a customer to a sale, while the term “sales” refers to a consumer actually selecting a product and completing a purchase transaction. For example, a prominently displayed banner leading to a special gift guide can inspire and entice a consumer to add a product to their shopping basket (that’s merchandising) and when the customer completes checkout, it’s classified as sales. Want to Learn More?
Is there anything else you’d like to know more about and wish was included in this article? Let us know! What is the difference between merchandising and retail?Merchandising is most often synonymous with retail sales, where businesses sell products to consumers. Merchandising, more narrowly, may refer to the marketing, promotion, and advertising of products intended for retail sale.
What do you mean by merchandising?Merchandising is the practice and process of displaying and selling products to customers. Whether digital or in-store, retailers use merchandising to influence customer intent and reach their sales goals.
What is difference between merchandising and manufacturing?While manufacturing begins the process of designing and creating goods, merchandising completes the task by taking products and getting them into the hands of consumers.
What are the 4 types of merchandising?4 types of basic merchandise. Convenience goods. Convenience goods are necessary items that people require for basic survival and health. ... . Impulse goods. Impulse goods are items that customers buy without originally planning to when they entered the store. ... . Shopping products. ... . Specialty goods.. |
