Merchandising Strategies in Retail
What are Merchandising Strategies in retail?
When 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 the brand, and so on.
In a retail setting, some of the most popular methods to compel shoppers to buy include:
- Interactive displays that use scent, sound, and motion technology
- In-store and window displays in unique shapes
- Shelf signage
- Creating themes to bundle products together (e.g. school lunch, barbecue season, Christmas, etc.)
- Free tasting sessions and in-store demonstrations
- Giveaways and samples
- Well planned, eye-level product placement
- Well-stocked shelves and displays