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Merchandising And Retail Branding
Retail branding requires strategy, which is the tactics a company adopts to arouse consumers' interest in its brand. According to the marketing website Design Damage, strategy starts when a company's marketing department defines a brand that embraces its business model.
Merchandising is part of retail industry specific terminology that describes an aspect of retailing that is much larger than a mere definition of the term can explain. The meaning of the term "merchandising" and examples of the many ways that merchandising is used in retail stores to increase sales is explored in this retail glossary explanation.
The Definition of Merchandising
In the broadest sense, merchandising is any practice which contributes to the sale of products to a retail consumer.
At a retail in-store level, merchandising refers to the variety of products available for sale and the display of those products in such a way that it stimulates interest and entices customers to make a purchase.
- Also Known As: visual merchandising, visual display, marketing
- Common Misspellings: mershandising, merchantising, merchandizing, merchandiseing
- Examples: When petite-sized clothing in an Old Navy store was hung on a bar that was out of reach for short people, it was bad merchandising.
Merchandising is a term that is used to refer to a wide scope of business and marketing strategies which involve the use of tactics by retailers in order to present products or services to consumers in the most attractive and convincing way possible.
Who Uses Merchandising
Merchandising is mostly used by brick-and-mortar retail stores, whether the retailer is independently owned or part of the largest retail chains.
While many retailers may carry the same merchandise, It is the merchandising strategies that distinguish retail competitors. How branding, packaging, and visual display is or isn't used in a retailer's merchandising strategies has a direct impact on foot traffic, sales, customer loyalty, and general popularity.
It's not just about what products a retail store makes available to its customers, it's also how those products are merchandised that determines how successfully a retailer is able to sell the merchandise. By using merchandising best practices, a retailer can motivate customers to want to spend money
Merchandising And Retail Branding may include :
1) Merchandising Best Practices: Variety
2) Merchandising Best Practices: Flexibility
3) Merchandising Packaging and Branding
4) Related Product Displays
5) Easy Access in Merchandising
6) Promotions Merchandising