1. Make use of both vertical and horizontal space. Do not ignore the opportunities to display items below or above eye level. If your customers can see it, it’s still worth utilizing in displays. Just make sure you can reach the items you are displaying easily – even with some aide – if you have products displayed that are out of reach for the consumer to grab themselves.

2. Layer your displays with texture, add on accessories and other contrasts to create more interest. By offering more in your display, you will draw more attention to that particular area. Don’t mistake this merchandising method for cluttering up a space, though. You still want your display to look visually appealing.

3. Utilize effective lighting to highlight your small space. Too many retailers ignore this crucial element. Don’t overlook this step and instead, maximize it. The right lighting can highlight your small space and displayed items, drawing attention to this possibly overlooked area otherwise.

4. Use color and excitement. Whatever excitement may mean to your store, challenge yourself to use it in small spaces. Enhance this with color. Combined, this will draw interest to your small space and customers will be visually drawn to it, as well.

5. Focus on a theme, collection or focal point. Concentrating on one dedicated product or general assortment of products can make your small space appear cohesive and meant to be. Try and use the space in a dedicated fashion towards one purpose to give your customers a better understanding of this space.

Finally, make sure to re-merchandise your small space often in an effort to bring new interest to it while also giving the items there new life in another space in your store. Remember that the key to all merchandising is to do it routinely for it to impact sales effectively, so don’t just get your small spaces done and settle in for too long. Repeat your actions with new products and new displays often for the best results.

The best time to add on additional skus to the purchase is when both you and your customer are physically at the point of check out. Your cash wrap station is an ideal spot to merchandise products that customers can easily add on to the products they have already decided they want. The key to making this happen is simply making your products affordable, small and appealing to a broad audience.

Point 1 – Make Your Check Out Items Affordable

Depending on your store, “affordable” will mean a few different things based on your overall assortment. From a general perspective, though, items merchandised at the point of check out should be obtainable to the majority of your customers. Keeping items less than $10 is best, and when possible, just a couple dollars or less is ideal. Again, depending on your business, the details will matter here. But items as simple as a cute set of magnets, a paif of cheap earrings, stationary, travel size shampoo and more are all ideas on what types of products should be included in your check out assortment. Even a pack of gum adds up in sales if every customer of every day buys one, so don’t dismiss what even a dollar can add to your overall sales.

Point 2 – Make Your Items Small In Size

Size shouldn’t matter, but it does when it comes to add on sales. Customers want to believe they aren’t “really” spending much more by throwing an extra something into their assortment of products to buy. But if that extra something is larger in size, it will stand out among the rest. If it blends in or disappears, it doesn’t phase them as much. These items can range from candy to hair accessories to note-cards or hand sanitizer. Whatever the extra something is, make it  easy to grab for your customers so they can just toss it onto their pile of goods to buy. It’s amazing how easy it will blend in, all while you end up getting a few extra dollars in your cash register.

Point 3 – Make Your Items Appeal To A Broad Audience

Whether you have guys or gals shopping in your store, you want to make sure all of your consumers can respond to the product assortment displayed at your point of check out. It’s important that there is something for everyone offered, even if it means brainstorming just a little longer on what that something may be. If you do have a broad audience of a consumers versus a more narrowed target market, allow space to accommodate everyone instead of missing add on sale opportunities.

Making sure that you display these products in a clean, concise yet appealing fashion at your point of check out is also essential. In addition, you want to encourage your sales team and those ringing up transactions to verbally recognize your point of sale products so that customers are reminded of them once again – not just visually on their own. Finally, set goals for your store and each team member to help drive  add on sales through your point of sale check out procedures. This extra push can help increase the momentum and value of this opportunity.

One dollar on each sale made can add up, so don’t overlook this important chance to make more money for your retail business!

Low Budget, High Function

A great way to shop for store fixtures is to consider buying used fixtures. Often you can find this from local retailers who are re-merchandising or closing their store and selling old fixtures, as well as by attending flea markets, salvation army stores, antique stores and other outlets that provide a variety of furniture pieces that may be suitable for your retail decor needs. Be creative and try and look beyond how the fixtures or furniture are currently being used so that you can see how they may be used for your specific needs. If you aren’t afraid of a little dirty work, sometimes it just takes some cleaning and a paint job to make things look new again – perfect for saving money while still bringing style to your retail dreams.

If doing some creative shopping isn’t your thing, there are companies that specialize in selling used or “like new” fixtures that may suit your needs. They include the following:

http://www.storefixturesupercenter.com/usedProducts.asp

http://www.storefixtureliquidator.com/

http://www.americanhanger.com/

Trusting  An Expert

While it’s great to reuse, recycle and bring new life to old fixtures and furniture, it’s very likely you will need a few – if not a lot – of new fixtures or furniture for your retail store. Retail Minded recommends Store Supply Warehouse for your retail decor needs, specific to clothing racks, display fixtures, grid systems, shelves and much more!

Offering all the products you need to furnish and merchandise your store, Store Supply Warehouse is a a no fuss, online retail supply store site that offers everything from apparel racks to pricing guns to mannequins and  more. With no minimum orders necessary and real people (versus the very annoying automated systems) answering your calls, you can trust that Store Supply Warehouse is there to support you with your unique retail needs. Their website is easy to navigate and while it may not “wow” you in style, their products can add that “wow” to your store that you are looking for. Let their customer service team help you along the way if you need assistance, plus you can trust your order will be placed immediately – all inventory is in stock and ready to ship for your retail needs. Don’t forget about your dressing room needs, cash wrap displays, wall systems and all the other necessities in pulling your store together for a completed retail look. Learn more by visiting www.storesupply.com.

Need To Sell Your Old Goods?

If you are looking to sell fixtures along the way, consider contacting National Retail Equipment Liquidators. They may be interested in purchasing some of your old goods depending on the quantity and quality. Learn more by visiting  http://www.nrel.com/nrel-sell-your-fixtures.html.

Pulling It All Together

Buying used, recycled or brand new, the overall effect of your retail store should compliment your product and store image. Be creative to make sure you stand out not only in function, but in style. Every detail matters here. Shopping for accessories for your store, such as wall hangings, mirrors, throw rugs, lighting and more, don’t have to be done at traditional store outlets but can be completed at any of your favorite shopping destinations. Bringing all these details together is the goal – just make sure you are supporting your customers in the design and function along the way!

1. Keep it simple. You don’t have to be extravagant in your merchandising techniques for your product to stand out. The key is to merchandise your product without cluttering your space, therefore allowing your product to be visible and easy to shop. In addition, your merchandising strategies should stimulate the eye so that customers are enticed by what you are offering.

2. Avoid tight spaces.Whether you have shelves, cabinet space, racks or hang-bars, make sure your product is not so crammed that customers hesitate to touch and ultimately pick up / try on something. Giving them comfortable access to the product allows for them to be more comfortable shopping in your store. If they think a frame will fall over while trying to reach for a different product displayed behind it, they may not reach for it and therefore may not buy it.

3. Encourage touch. Customers respond to many reasons that ultimately make them want to buy something. Touching something and then enjoying that something is among the top reasons impulse buys are made. Selling items that aren’t a need? This is especially important since your customers may not need anything in your store – they have to want it. Make them want it more with signage that encourages to try something on, test a product out or offer a way in which they can experience the item for sale. Making it accessible for them to touch – eye level – also helps. If your clothes or accessories, make sure to have many accessible mirrors, as well.

4. Move it around. Merchandising may not be your thing, but don’t let that keep you from re-merchandising your store often. Weekly, bi-weekly or monthly rotations are common practices for stores to follow. Depending on the product, your store and your customer should determine what your merchandising rotation should be, however in general you should re-merchandise display windows and displays areas weekly or bi-weekly, prime real estate (front of store, great visible and accessible areas, etc.) weekly and everything else every two weeks or so.

5. Staples are okay. Have something that your customers come to you for often and you want to make a permanent home for these items? That’s okay. Use the space around it to introduce new / other items to these customers.

Remember, you are not a big box retailer. The strategies you see in these types of stores may not work for you, such as leaving a main window display the same for one month. You are a smaller store with different responsibilities as a result. Lean on neighborhood chambers, local support and store friends to see what works for them and how their merchandising ideas may help your store. Finally, don’t be afraid to try news ways to merchandise your store that you may not be familiar with or have used in the past. You may find these changes help enhance not only your store, but your sales.

1. Keep the costs minimal.Adding items that are low in price points, such as candy, lip balm, apparel tape or whatever items that may be relavent for your store, offers customers the opportunity to add more to their purchase without feeling like they need to make a big decision about it. The idea is to keep the price points low and the decisions to buy these items simple and easy.

2. Add some fun to your assortment. Introducing unique, fun or unexpected items at your cash wrap is a great way to create conversation with your customers. Are you a pet store? Why not sell humans a treat? Gum, candy, whatever. Sell toys for kids? Why not introduce books on surviving parenthood or something light hearted but witty for parents to relate to.

3. Sell the obvious. In addition to adding some new and unexpected items to your cash wrap assortment, make sure to include the obvious. If you sell things that need batteries, make sure you have batteries clear and accessible for purchase when your customers go to check out. Are you a book store? Sell book marks. You get the idea.

4. Leave room for comfort.Don’t clutter your cash wrap so much that the point of a cash wrap – which is checking out a customer, closing a sale and packaging the purchase - is not considered. You want your customer to have room to comfortably pull out their wallet from their purse or pocket, sort through additional bags they may have on hand and easily sign a sales receipt without their elbows hitting a wall or display. In addition, the products you do choose to sell on the cash wrap should be merchandised consistently with the same style you have throughout your store.

Each store is different and each cash wrap the same. Make sure you are utilizing your space to  the best that you can to enhance your consumer experience while also increasing your sales.

1. Helps define overall store image

2. Highlights products and helps make them visible

3. Encourages purchases by visual enhancement

4. Helps lead customers into store

5. Allows for more enjoyable shopping experiences

There is no single store lighting formula that you can follow as a retailer to ensure you are using your lighting correctly, but the points above allow you to think about the lighting decisions you have made or need to make. There are, of course, a few more things to consider.

Accent Lighting

Accent lighting should be used according to your overall store assortment. If your store sells higher-end luxury items, it is ideal for you to use accent lighting to showcase these  items. More basic stores that sell a variety of products with less luxury items should use accent items to showcase sale items, new items or items that you believe need to be called out with special attention. The goal of accent lighting is to call attention to a few products versus everything in the store. Use only as necessary yet enough to make an impact on the products you believe deserve this attention.

High Activity Lighting

Have a store that gets a ton of traffic and sells a ton of different stuff? Using light to bring attention to areas versus one specific product should be considered. Think about a back corner that may not get the right lighting with simple overhead fixtures but deserves just as much attention as the rest of your store. Stage your lighting to focus on these entire areas. Don’t forget about tall shelves, back corners, entire display fixtures and all other areas that matter here.

Ambient Lighting

Ambient lighting refers to your overall store lighting, allowing for customers to get a general store overview through the lighting used in your store. An example of this would be one prominent light fixture hanging in the center of the store, such as a large chandelier. This lighting makes the largest overall impact, so make sure it doesn’t change the color of your product or make the store appear offset in store layout.

Case & Shelve Lighting

Have you ever shopped somewhere and had to struggle to see inside a case to view a product? This is what you want to avoid in your own store. All products should be visible, so consider using shelve and case lighting as necessary. Make sure that you do not have this lighting exposed in a place that customers may lean against it or tough it accidently, as it can get very hot.

Finally, whatever lighting plans you decide on for your store, make sure to change them as your merchandise and floor plan changes. The impact lighting will have on your store is as important as all the other steps it takes to run a successful retail business, so please make sure to review and review again these details as necessary.

Think of your local grocery store as an example here. When you are waiting in line, what do you generally do (beside trying to keep your kids in the cart, unload your groceries  or look for coupons)? For the most part, you look at the magazines, candy, and other little goodies that can be so tempting for an impulse purchase. Now maybe you hate that you grab an US Weekly every now and then (at least I hate that I do this), but the point is that you grabbed it and guess what? US Weekly, the company, is happy! They just made yet another sale. And so can you if you merchandise accordingly near your point of purchase area.

The idea when merchandising near your cash wrap is to encourage customers to buy something they weren’t planning to. This means that the retail value of this product should be low, ideally under a couple dollars and no more than ten dollars for most stores. Of course, there are exceptions here. If your product assortment is of higher retail value, than your point of purchase products can be higher than ten dollars, but they should be among the lowest price points in your entire store. Another thought – make sure that the products are small so that they don’t take up too much space in your cash wrap area. Finally, don’t clutter this space with so much stuff that your customers have no room to put their purse down, sign a receipt, and most importantly, lay their items for purchase down for you to ring up!

In review, consider these three points when merchandising your display area:

1. Merchandise a variety of products that will be tempting for your customers to buy last minute and on impulse. Examples include jewelry, lip balm, greeting cards, accessories and candy. Of course, this all depends on your overall store assortment!

2. Make sure price points of products merchandised on or near your cash wrap display are inexpensive. This will give your customer the quick thought of “yes I’ll get this” versus “too expensive – I don’t need it”. We all like a little extra something, so suggesting these products to your customer as they are standing in front of you about to check out is always a good idea. Just don’t be too pushy! No one likes that.

3. Don’t clutter your space so much that customers aren’t comfortable when they are preparing for check out. It’s no fun to have to sign a receipt with the paper half off the counter because there is no room. Give your customers space.

Finally, be creative. Each store has their own space, their own product, and their own approach towards display. Embrace all of this when deciding on how to merchandise your cash wrap the best way possible for your store.

1. Research shows that communicating with your customers decreases theft. Say hello to all customers that walk into your store within 30 seconds or a minute at the most so that they know you are aware of their presence and are alert with their actions. Continue to acknowledge them while they are in your store with engaging questions about your store, your product, or how you can help them. By reaching out to them throughout their store visit, they will have less likely of an opportunity to feel alone enough to commit a crime. An added bonus – since most customers are not in your store to shop lift, this simply provides increased customer service!

2. Make sure that you are aware of the inventory in your store. Keep an accurate checklist, whether manually, through Quickbooks or your own excel spreadsheet, so that you are aware of what is currently in stock, out of stock, damaged, sold, or missing. If you find that certain items are missing, it is likely they are a high theft item. Be aware of what may be considered high theft to avoid their potential loss as well as to provide extra overview on these products. You can do this by merchandising these products close to the cash wrap or where ever you and your staff are the most often. Another idea is to secure them with security tags that will alarm if they leave the store.

3. Install video cameras in your store. The catch? Even cameras that don’t work will alert thefts and persuade them NOT to shoplift. You can purchase video cameras that appear to be real or even buy real but used cameras that no longer work. Of course, working cameras would be your best bet but this is a costly investment that not everyone can afford. One company to check out for these options would be Security Tag Store, www.securitytagstore.com.

4. The floor plan of your store can increase or decrease your chance for theft. Try and balance your store space so that you have visible access to all areas in which a customer may be, with exception to a dressing room, of course. Use mirrors to see challenging corners that may not otherwise be visible. Lock up expensive merchandise in glass cases or with security tags. Do not allow customers access to dressing rooms without having to be let in by a sales associate and limit the number of items they can take into the room with them. When they come out of the room, count the products that came out with them to make sure nothing is missing. You can also use alarms on doors that should not be opened so that customers cannot sneak out a back door. Even customer bathrooms should be locked so that you can monitor who is going in and out of them. While this may seem like a few more extra steps then there is time in your day, all of these actions will provide valuable store security if you need it. In addition, it also provides supportive customer service.

5. Signage can be used to reinforce security messages. Let shoppers know you have security cameras or that your store has a security alarm system. Make sure potential thefts are reminded that you have sales associates watching both customers and products throughout the store. Don’t be scared to alarm them with “Shoplifters will be prosecuted” signs, as well.

Finally, make sure that your store is well kept in an effort to help you see what is out of place or possibly stolen. Tidy up every day throughout the day and make sure all of your sales associates do this, as well. Remind everyone, including yourself, that is not just to have a great looking store but also to avoid theft.

We need to hope that most customers are still honest and trustworthy, but as the saying goes – better safe than sorry! Make sure you are taking care of your store by  taking control of your store security.

What Make a Hot Spot in Retail Real Estate

Is there a spot on your floor that everyone seems to notice first, no matter what is being merchandised? Traditionally, this spot usually includes store front window displays, aisle displays, and the merchandising space by the check out counter. In addition, wall space can often provide valuable retail real estate since it lifts the eyes of the consumer and draws attention if merchandised well. Locate the best real estate spots in your store and begin to take inventory of the product featured in these spots and their sell-thru. Then, as time progresses, start to utilize these spots to turn inventory over through the use of retail real estate. Are you looking to highlight new product? Use your real estate hot spots to do this. Need to get rid of some access inventory? Again, use your real estate hot spots to help you move your product. Make sure you acknowledge the change in your retail real estate as your product and season changes, therefore adjusting your floor plan, as well. When you move fixtures, your retail real estate may adjust, also.

What Makes a Weak Spot in Retail Real Estate

Have you ever noticed a spot in your store that no matter what you merchandise there, it just doesn’t seem to sell or even get noticed? This is a retail real estate weak spot. Nearly every store has them and yet many stores don’t know how to use them. The reality is that you probably need this space for your products, so good or bad, you have to use it. A few ideas to help make the best use of this real estate is to showcase product here that are double exposed somewhere else, which is a common practice for retailers to do (show your product in more than one spot to ensure visibility). Another idea is to put something here that customers know they want, such as stocked items including t-shirts or socks. In other words, offer something in this weak spot that customers come to your store for and will find no matter where it is placed. Finally, you could always use this space to feature your sale items. Everyone likes a sale nowadays, so put your weak real estate to good use by showcasing your great markdowns and must haves at discounted prices!

By understanding how your retail floor space works for you, you can then use this to your advantage when merchandising your store. Make sure you know your retail real estate to make sure that it is working for you!

To help control inventory, particularly in an economy when shoppers aren’t separating themselves from their wallets as easily as before, retailers should take a complete analysis of the current inventory assortment based on the points below. Consider how these points will help you with your current inventory sell through so that when you make future buy decisions, you will find your inventory balanced more evenly and your register filling up more quickly.

Product Sell-through vs. Square Footage of Product Allocation

How much space does the product you sell take up in your store? Is the product in your store that is not selling taking up more space? The goal is to maximize your store with products that are moving. You should markdown the product that is not selling to help increase the chances of it selling sooner, eventually opening up your store space for more products that have proven successful. It also allows your open to buy dollars to become more available, allowing you to potentially introduce new product. Make sure that you do not let slow moving product sit on your floor too long without marking it down, then make sure to continue to mark it down until it sells. It is wasted space if it is just sitting there. The first 30 days of any new product on your floor should allow you to understand if customers want this or if you will need to mark it down eventually. The goal is to have the products that sell faster, or even at all, take up the majority of your floor space. We all make poor buy decisions, so deal with these mistakes if necessary to get to where you want to be next time in your buying decisions.

Product Hot Spots and Weak Spots

By now, as a retailer, I am sure you have discovered the power of merchandising. Whether you have or have not paid much attention to this, make sure that you take the time to determine the retail real estate in your store that helps move products while on the contrary, determine your store space that doesn’t seem to help increase product sell through. By understanding this, you can maximize your sales. There is always going to be “dead space” on your floor and like it or not, you may need to use this space to merchandise some of your product. Make sure you merchandise and re-merchandise your product routinely so that you offer customers a refreshed shopping experience, but also the opportunity to move products from the hot spots to the weak spots and vice a versa as needed.

A merchandising note – If you have product that customers come to your store for, this is the product to put in a weak spot versus a hot spot since they already know they want it. Use your hot spots for products that you need to sell, not only the ones you know will sell. Mix it up!

Excess Inventory Control

Unless you are one of the few retail buyers who is always on target with what their customers want and you know will absolutely sell, it’s possible you have extra inventory sitting around. The goal for you is to move it. And move it now! Don’t wait for the possibility that it may come back in style or that the economy will get better. Mark it down and get it sold. Hold a special sale. Or sales. Offer discounts for special customers. Whatever your plan is, the plan should be to not let this product take up space on your retail floor or in your back room – even if you hate the thought of selling it for less than you planned to.

Controlling Your Buys

It’s so tempting to bring in a ton of great new things to your store and just start over, so to speak, when you have a lot of things that you know are not working for you. BUT – hold back. Find control and find balance to bring these new items in without cornering yourself in a position where your current inventory will financially put you in a hole. Unless you have the resources to be flexible and to buy without concern, then make sure you strategically plan to get your currently inventory out of your store before bringing in a ton of new things. I don’t believe that you can hold off on buying anything new, however. Customers want to be surprised and tempted and enticed to buy, so you need to give them that with what is in style, with what they want, and with what you know they need. That said, find balance and control with what you already have and what you want so that you can better manage your inventory needs.

Still looking  for more help? You may check AdvanceWare for its scalable and flexible inventory software (http://www.advanceware.net/) that is suited for Quickbooks users, wholesalers, distributors, online retailers, importers/exporters, 3rd party logistics warehouses, and any other inventory-based businesses to help you in your inventory needs. In addition, you can find some video demo at http://www.advanceware.net/videodemos.asp