A new generation of technology-driven, smart shoppers has taken over retail. These shoppers have easy access to product information, online options, and an increasing choice of competitors. They are selective and only decide to purchase when they get a unique, well-planned, engaging retail experience.
Unfortunately, very few retailers have the ability to keep up with the fast-evolving expectations of today’s customers. Many retailers are dealing with an antiquated retail model based on product breadth and price, and they cannot guarantee their retail experience is consistent, precise, engaging, on brand, on message, and localized for the empowered, demanding customer.
RBM Technologies recently published an ebook entitled 16 Tactics for Merchandising Execution in 2016 that outlines specific, actionable directives retailers can enact right now to engage customers, increase conversion rates, and keep them coming back.
Here are the fundamentals of merchandising execution, as outlined in the ebook, to deliver a superior retail experience:
Shoppers are unforgiving when retail experience isn’t unified across all channels. If merchandising execution is messy or inconsistent, if information doesn’t match what they found online, or if their shopping trip leaves them with a bad taste in their mouth, they won’t come back. Align your organization against a consistent plan – whether it is your merchandising teams, marketings teams or store operations.
Achieving a personalized experience by localizing product assortments strengthens the customer’s brand perception and the retailer’s position amongst the competition. The physical store has a big impact on the customer’s connection to a brand and service. Addressing local needs is critical in developing a more authentic experience and personal customer connection.
Stores are powerful, profitable and able to provide a meaningful connection with customers. Retailers recognize the importance of on plan merchandising execution, yet at the store level, precise retail execution seems difficult.
By using a single digital application that plans, communicates, executes, and measures retail experience, retailers can reduce complexity and improve their ability to execute their merchandising plan effectively and optimize individual store performance.
Often retail experience is imprecise, immeasurable, and expensive. Very few retailers have the ability to consistently ensure that every store is on brand, on message, and accurately executed. Poorly executed retail experience can lead to missed sales and unhappy customers.
However, retailers can execute with precision, measure easily, and as a result, improve individual store performance – eliminating waste in the process.
Many brands understand retail experience is the key driver to customer satisfaction, but they haven’t figured out how to assemble the framework to efficiently execute it. By following these four fundamentals, a retailer can ensure its retail experience is on brand, simplified, and consistent for the customer. Subsequently, it can open up new opportunities for growth and produce a competitive advantage.
To learn more, download 16 Tactics for Merchandising Execution in 2016.