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| book on merchandising business for startups compiled by Prabhu TL |
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Merchandising is the promotion of the sale of goods that can employ pricing, special offers, displayand other techniques designed to influence consumers’ buying decisions. The concept of
merchandising is based on presenting products at the right time, at the right place, in the right
quantity and at the right price to maximize sales.
The difference between sales and merchandising :-
Although sales and merchandising are two closely related functions, they are not the same thing.
Merchandising is the process of leading a customer to a sale, while the term “sales” refers
to a consumer actually selecting a product and completing a purchase transaction.
For example, a prominently displayed banner leading to a special gift guide can inspire
and entice a consumer to add a product to their shopping basket (that’s merchandising)
and when the customer completes checkout, it’s classified as sales.
Merchandising is the process of leading a customer to a sale, while the term “sales” refers
to a consumer actually selecting a product and completing a purchase transaction.
For example, a prominently displayed banner leading to a special gift guide can inspire
and entice a consumer to add a product to their shopping basket (that’s merchandising)
and when the customer completes checkout, it’s classified as sales.
Merchandising strategies:-
When it comes to merchandising strategies, a “one size fits all” approach won’t suffice.
Depending on the overarching objective for the retailer, brand, and category, the merchandising
strategies should vary by category or even by segment to target a specific goal, such as
developing customer loyalty, increasing sales, driving footfall/traffic, raising awareness of
your brand, and so on.
Depending on the overarching objective for the retailer, brand, and category, the merchandising
strategies should vary by category or even by segment to target a specific goal, such as
developing customer loyalty, increasing sales, driving footfall/traffic, raising awareness of
your brand, and so on.
In a retail setting, some of the most popular methods to compel shoppers to buy include:
- Interactive displays that use scent, sound, and motion technology
- In-store and window displays in unique shapes
- Shelf signage
- Creating themes to bundle products together (e.g. school lunch, barbecue season, Christmas, etc.)
- Free tasting sessions and in-store demonstrations
- Giveaways and samples
- Well planned, eye-level product placement
- Well-stocked shelves and displays
In an eCommerce setting, the most effective ways to entice people to make a purchase include:
- Live chat support to aid customer purchase decisions
- Placing the search bar in a prominent position on the site
- Offering free shipping
- Status bar to show progress during checkout
- Season-specific and holiday-based collections, curated landing pages and special offers
- Product descriptions that use images, copy, attributes, videos and other digital data
- Product recommendations
- Advertising banners
- Ratings and reviews
- Cross-selling, upselling and bundling
- Effective product categorization
- Ribbon overlays that visually accentuate something special about a product
- (bestseller, free shipping, sale, newly added, etc.)
This Book provide detailed business blueprints or a course on how to start a business.
It is a list of 125 Merchandising Sector Business Ideas and a few proven strategies to make
them a reality. Pointers of what to do next once you've decided on a business option - and -
where to get further training if needed.
It is a list of 125 Merchandising Sector Business Ideas and a few proven strategies to make
them a reality. Pointers of what to do next once you've decided on a business option - and -
where to get further training if needed.
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Starting your own business can change your life forever. It can free you from a dull and
unfulfilling job and give you the flexibility to work at home, in an office, or shared workspace.
unfulfilling job and give you the flexibility to work at home, in an office, or shared workspace.
For any Entrepreneur to be a success, they require an entrepreneur mindset with the ability
to create business ideas and establish a long standing success in the business startup.
to create business ideas and establish a long standing success in the business startup.
But starting a business is no easy task. It takes courage, energy, and determination.
Since you have shown interest, it's our responsibility to give you the tips and information
required for a successful startup.
Since you have shown interest, it's our responsibility to give you the tips and information
required for a successful startup.
The following steps might help your startup grow giving a fulfilling experience.
1. Hire the right people
2. Lead a team
3. Set goals and track them
4. Grow revenue
5. Raise funds
6. Design and test
7. Understand your customers
Benefits of starting a Merchandising business?
Since merchandising is all about selling, the ultimate benefit of effective merchandising is
higher sales and better profit. Stores that manage to create a seamless shopping experience
and effectively guide consumers to purchase completion, enjoy an array of benefits including:
higher sales and better profit. Stores that manage to create a seamless shopping experience
and effectively guide consumers to purchase completion, enjoy an array of benefits including:
- Higher profits
- More satisfied shoppers
- More engaged buyers (longer on-site time)
- Faster inventory turnover
- Increased brand loyalty
- Increased brand recognition
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