Merchandising is an extremely effective factor in your bookstore’s success, though sometimes it can be hard to figure out what to do in your merchandising strategy to guarantee success. Discover some data-backed merchandising tips to help you out in your merchandising techniques.
Cross Merchandising Boosts Sales
Cross merchandising refers to placing related items next to each other in your store. For example, if there’s a rack of raincoats on your store floor, putting a bin of umbrellas next to it would be cross merchandising. Cross merchandising is an effective merchandising technique because grouping related items closely together helps your customers find certain items and related accessories quickly. In fact, 70% of consumers report making unplanned purchases due to cross-merchandising! Next time you have an opportunity to group similar items closely together, you should definitely take it.
Floor Stands and Endcaps are the Most Memorable
There are all types of displays out there that can be hard to capture your customers’ attention, especially in this digital age with non-stop advertising efforts. If you’re searching for the most memorable displays to place in your store, look no further than endcaps and floor stands. Floor stands and endcap displays make up 86% of all displays customers recall from memory. If one of your merchandising goals is to stand out and be memorable to your customers, fill your store with floor stands and endcaps.
Keep It Visually Appealing
Sight is the strongest of the five senses for most people, consumers included. If your merchandising efforts are visually appealing, that will naturally be a boon for your store. Some studies show that visually appealing store merchandising can increase sales by up to 30%! When building out your displays, make sure it looks good on the eyes. If you’re not sure how something looks, don’t be afraid to ask for a second opinion from friends or colleagues.
Sources
https://www.salesgenie.com/blog/cross-selling-statistics/
https://www.sciencedirect.com/science/article/abs/pii/S0022435921000634https://theworkcycle.com/the-power-of-sensory-marketing-engaging-the-senses-to-boost-customer-experience/
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