Your retail display - the way merchandise is arranged in your store - can have an impact on sales and even the success of your store. Designing a retail display that uses methods proven to maximize sales can increase your profits and the success of your business.
According to research, the same techniques don't work for every business, but with some effort, you can increase your store's profit with an attractive display that works for you and your customers. Here are some guidelines for how to set up your display.
Know your customers
What you choose to sell and where you place it should be founded on a good grasp of your customer base and its interests. Previous sales can help shed light on customer interests, but you may also have success by marketing to your ideal customer rather than only those who are actually coming into your store. Just make sure your ideal customer actually exists - you can't sell anything to an ideal persona that doesn't exist in real life.
Appeal to the 5 senses
Sight and touch are the main senses when it comes to most retail displays, but a careful combination of music (sound) and scent (smell) can subtly encourage customers to buy more. And when selling food, a taste test is always effective.
Make it right. . . your focal point, that is
Most consumers tend to go to the right when entering a store, so your most attractive or top-selling merchandise should be to the right of the entrance. But not right by the door, unless your store is very small. Customers tend to miss items in the first few feet as they transition from the outside to the inside of the store.
Rule of Three
Items grouped in threes tend to be more attractive to customers. Specifically, arranging items pyramid style with one at the top and the others below it on either side can be eye-catching and is considered the most attractive form of display.
Maximizing Space Usage
Small stores especially need to make use of every inch of their square footage. Retailers must strike a balance between conceptual displays that draw customers in and displaying the actual merchandise in rows, piles or on racks. The more merchandise you can display, the more you will sell if it doesn't look crowded or obscured.
Magic Number: 3'6"
To accommodate disabled persons, your racks are required by the government to be at least 3 feet 6 inches apart. This will allow a wheelchair to navigate your store comfortably. Keep merchandise clear from the aisles so that wheelchairs don't get stuck and are able to pass through.
Financing Your Display Design
Sometimes, you can design your display from items and equipment you already have on hand, but if you need to purchase fixtures or renovate your store to make your display more effective, it may cost more than a small business owner can afford to spend all at once.
A merchant cash advance can provide the working capital you need to invest in your retail space. When your space is attractive and your merchandise easy to find, your sales will rise and you will increase your profit.
Apply now for a merchant cash advance from Quikstone Capital Solutions to keep your business moving forward.