August 9, 2021 | 02 min read
Research suggests 60-70% of purchase decisions are made at the retail store! Yes, almost 2 out of 3 purchase decisions are made when consumers are interacting with your products in the retail environment.
With this data, I don’t have to overemphasize the fact that effective merchandising plays an important role in driving sales for a brand. Availability of the products on the retailer’s shelf drives higher intentional & impulsive sales of the product. The primary objective of effective visual merchandising is to attract, nudge, and motivate potential consumers to make the purchase decision.
Additionally, a well-stocked product on the shelf reduces the potential availability of a competing brand on the shelf, helping the brand gain a competitive advantage at the outlet. For all these reasons, brands spend substantially to acquire shelf space & hot zones, incentivizing retailers to ensure compliance with the agreed merchandising commitments.
While excellent merchandising execution seems intuitive for every brand, Bizom research suggests that most brands don’t have a defined merchandising execution strategy. We see the following gaps in the brands’ retail execution:
Keeping these in mind, brands should approach their visual merchandising strategy using a three-fold approach of definition, process creation, and execution.
Bizom’s Smart Merchandising solution creates customized retail merchandising strategies using this three-fold approach. This along with augmented reality, makes this solution a game-changer for FMCG brands for ensuring the effective execution of their retail merchandising strategies.
To know more, connect with our team at firstname.lastname@example.org and schedule a free demo.