Anyone who works in retail or manages a store knows they have a single, important goal: selling product. No matter the merchandise, store displays should make it as easy as possible for customers to find and purchase the items they need.
Ideally, these display should also introduce buyers to new products they weren't necessarily looking for, but might want to purchase anyway. With clever visual merchandising, your store can turn those "just looking" window shoppers into loyal customers.
Intentional use of display organization, color, and other tools can help draw a customer's eyes to new products. Here are a few tips for boosting profits through clever product arrangement and display:
1. Be Smart About Signage
Your signs should offer simple, straightforward information. Add a bit of personality and flair by including stylistic brand elements, but remember to not overstuff the sign with confusing fonts or imagery. Your customers should be able to understand the sign at a glance, so use large, bold copy. Ensure that colored stickers, labels, and signs can be easily swapped whenever sales change or new merchandise arrives. For easy sign changes, try securing them using removable colored tape, or installing glossy laminated slots where a sale tag can be added or removed.
2. Use Color to Your Advantage
Color is a powerful tool for helping customers notice and remember products. In fact, in 2002, researchers discovered that subjects performed five to 10 percent better on pattern recognition tests when the tests were in color rather black and white. Try using colored price stickers to help shoppers find sales. Colored price stickers are also a great way to group like items throughout and between departments. If your store is a clothing boutique, arrange garments from light to dark for greater visual appeal. When it comes to using color to boost sales, the only limit is your imagination.
3. Know Where to Put High Margin and Low Margin Items
Finally, any good store manager knows which items bring the business the most profit, and places these high-ticket goods where customers are most likely to notice them. Prime real estate for these goods includes the very front of the store, the area immediately to the right of the entrance, and end caps. Try placing lower-priced consumables and sale items at the back of the store, so that customers have to walk past high margin items first. With a little strategic arrangement, you can boost company revenue in no time.
From colored price stickers to easy-to-read signs, visual merchandising is surprisingly simple. Use the tips above to guide customers intentionally through your store. For more information, or to order color coding stickers for your business, contact ChromaLabel today!