As retailers strive to provide personalized in-store experiences,the planning and execution of retail floor space is a top priority. However, without accurate store-level knowledge down to the fixture level, plans and forecasts are only crap shoots. Retailers lose $10-30 million in sales per billion dollars in annual revenue due to the problem.
Other findings in the trendagram include:
- 3 in 10 retailers measure store-level compliance frequently enough to catch problems
- 53.8% say the biggest challenge is the disconnect between merchandising, marketing, and store ops
- 63% say the most valuable merchandising technology is the optimization of assortment against key customer segments
- 43% say an optimized end-to-end merchandising lifecycle is extremely important to retail success.
With the right suite of visual merchandising management solutions, an accurate merchandising planning process is attainable. With these tools, communication becomes clear and precise, and retailers save time and money. Visual merchandising management solutions enable retailers access to real-time information needed to carry out accurate localized campaigns to their stores.
When the right product and messaging is delivered to the right store, at the right time, on the right fixture, retailers can drive the customer experience envisioned in the original planning process.
You can download the entire trendagram on the RIS News website.