LONDON--(BUSINESS WIRE)--Quantzig, a global analytics solutions provider, has announced the completion of their latest article on the top five visual merchandising challenges retail stores must overcome.
With the recent rise in the number of retail stores concentrating on selling experiences to customers, visual merchandising (VM) is taking the front seat in retail stores. Brands are slowly understanding the fact that giving shoppers a greater experience not only contributes to the profitability but subsequently results in better brand loyalty and goodwill. However, visual merchandising a store can become demanding, especially when some retailers, such as independent shops, do not have a clear idea about it. In such cases, it gets hard to prosper at visual merchandising a store and turning a profit. Also, there is a lot to this technique than just positioning products in an attractive manner. In this blog, Quantzig has listed the top five visual merchandising challenges retail stores must overcome to boost their profits.
According to the visual merchandising experts at Quantzig, “Detailed planning, strategy formulation, and understanding of consumer behavior are extremely important for effective visual merchandising in retail stores.”
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Top visual merchandising challenges retail stores must overcome
- Limited display space: Space allocation for several SKU’s is a tactically pre-planned process. So, in case visual merchandisers want to make changes and distribute space for VM props, it becomes an extremely tough task. Also, with the number of products that keep pouring into retail stores, there is limited shelf space available to store them. This adds on to the problem of space provided for VM.
- Limited flexibility: Retail store suppliers competing with each other want their goods exhibited in the most prominent position in the store. Also, large products require and occupy a significant amount of space. They also need good movement space that allows customers to view the product from all angles. Besides, it is hard to create flexibility with large merchandise such as electric appliances, furniture, and home improvement tools. This influences the merchandising efforts to a large extent.
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- Low budget: Retail outlets usually tend to distribute low budgets for visual merchandising and associated props. This is done to decrease costs and maximize profits. However, it becomes very difficult for visual merchandisers to work within this assigned budget. The budget might help in getting the desired result but confines the capabilities of the VM team.
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