How to Meet Your Retail Sales Target Effectively with Planograms?
As a retailer, you already understand setting sales targets and achieving profitability is important to the success of your store. Without creating targets to measure store performance, it could bring difficulties to your store and affect sales. Therefore, retailers can create a positive impact on sales by making an impression on every customer who visits the store with the help of planogram software. Planograms are the visual merchandising tool, that helps retailers strategically plan and execute their store shelves by optimizing the right shelf space between products. From window displays to store layout, effective visual merchandising strategies help to entice customers and increase sales. To meet the right target, go through the following factors when setting retail goals:
Historical sales data to plan sales targets: Setting retail sales targets can be tricky. On the other hand, you need to set sales targets which compel customers to your store. So, before you plan the sales target, remember to analyze the past retail sales data of your store with the help of planogram software. Planogram reports include sales, space, and category analysis reports.
Have a winning assortment: Retailers will find it difficult to sell something that does not resonate with customers. That is why it is important to understand shopper’s needs and satisfy them. Therefore, with the planogram software, retailers can figure out the current market trends and place products accordingly. This will drive customers to the store and constantly refresh them with great assortments.
Invest in the store layout: Retailers use layout to influence shopper’s behavior by designing the store’s flow, product placement and ambiance. This helps to earn more revenue per square foot they have. For instance, some retail stores put necessities such as milk and eggs at the back of their store so that customers must navigate through other products to get to them. This strategy increases the likelihood of purchasing more.
Execute more in-store displays and promotions: When placing products on display, make sure that it attracts customers. For that reason, retailers can change displays on a weekly basis, including display of related products in a themed way. Also, do not forget to add pricing or discount labels on store displays. These together can lead to impulse buying and increase sales.
Merchandising in retail stores effectively promotes the retail sales of goods or services. Visual merchandising, on the other hand, increases the retail profit with product placement, store layout, displays, signage, category, and inventory management.
