Merchandising and a Few Secrets of Success
Byline: JUDY REYNOLDS 10X a The Business X-Factor
HAVE you ever wondered why Starbucks makes millions of dollars selling coffee while millions of coffee shops struggle to sell enough coffee to survive?
Or what about the likes of Bunning's Warehouse dominating the ado-it-yourselfa home improvement industry while other smaller retailers fall by the wayside?
Many people know the value of merchandising and yet so few fully understand how to optimise their retail or business environments.
Success is largely due to clever merchandising. It's a clever way of increasing your sales. If people like your store they will come back time and time again and usually tell their friends to go there as well.
So why is Starbucks so good at selling coffee?
Sure, you can order over 50 versions of a basic cup of coffee, but Starbucks is more about the afeela you get when you visit the store. Think about this: When you walk into Starbucks did you walk into a coffee shop or a shop that serves coffee?
Two things happen on a subconscious level when you enter a Starbucks store:
"Feela a Starbucks create the afeela by bringing several elements together to create an inviting atmosphere.
For instance, they will usually have a lounge suite near the front of the store, the colours are complementary with warm tones and there are newspapers and magazines for people to read.
With all of these you can sit back, take your time, have a chat and relax as though you were visiting a friend's place.
"Flowa a you might think of aflowa as directing traffic. When you enter a Starbucks store you go to the counter and order your coffee. The menu itself is a lesson in flow. You are guided through by the staff right to the end when they call: "Hey Rob, your tall flat white is ready."
10X Tips for Merchandising "Flowa:
Directional signs a As obvious as it may seem, people need to be directed and preferably in the direction you want them to take. Directional signs can be arrows, department signs such as awomen's sectiona or even painted lines on the floors and walls.
Left to right a good retailers usually have the lower-priced items on the left-hand side with the more expensive items on the right hand side. It's the same principle as reading.
Back to front a grocery retailers have this figured out perfectly. Nine out of 10 people go to the shop to buy milk, for instance. That's why milk is found at the back of grocery shops. Why? Because after you have picked up your milk there is a better chance you will pick up something else on your way to the counter. …