The Global Economic Crisis: A Brief Introduction
In previous modules, we have alluded to the global economic crisis and the impact it had on the various sectors in the financial and manufacturing industries. This article introduces readers to the global economic crisis and subsequent articles deal with the various dimensions to the crisis and the causal factors that were responsible for the […]
Hindsight Bias
There are several cognitive biases that affect our ability to think clearly about financial investments. One such bias is called the hindsight bias. Over the years, the effect of hindsight bias on the value of investor portfolios has been significant. This is the reason that we will have a closer look at what this bias […]
Crisis Management Model
Crisis refer to unplanned events which cause harm to the organization and lead to disturbances and major unrest amongst the employees. Crisis gives rise to a feeling of fear and threat in the individuals who eventually lose interest and trust in the organization. Crisis Management Model Gonzalez-Herrero and Pratt proposed a Crisis Management Model which […]
Is the Indian Economy About to Return to the Decades of the Hindu Rate of Growth?
What is the Hindu Rate of Growth and is the Indian Economy returning to it? For a long time from Independence to the mid 1980s, the Indian Economy used to grow at 3-4% or at the most, 5% a year. Indeed, in the decades following Independence, economists were fond of saying that India is not […]
Components of a Strategy Statement
The strategy statement of a firm sets the firm’s long-term strategic direction and broad policy directions. It gives the firm a clear sense of direction and a blueprint for the firm’s activities for the upcoming years. The main constituents of a strategic statement are as follows: Strategic Intent An organization’s strategic intent is the purpose […]
A merchandiser maximizes the sale of the products by:
The packaging of the merchandise goes a long way in improving the brand value of the product. A product kept in a nice box would definitely catch the attention of the customers.
The display of the products at the retail store must entice the customers. The merchandiser in coordination with the store manager must ensure that the products are according to the season as well as latest trends.
The merchandiser must:
By mid of August and early September, the summer merchandise is generally on a close out and stores begin stocking merchandise for the winter season. Warm clothing, full sleeves apparels, jackets, pullovers start replacing cut sleeves, capris, ankle length dresses, shorts and so on. Colourful clothes dominate the shelves as compared to the subtle colours in summers.
The type of product sourced also depends on the climatic conditions of the place.
A Reebok store in Central India or Southern India would stock summer merchandise between April to September whereas a retail store under the same brand somewhere in a cold area would source woollen merchandise along with summer clothing as per the demand of the season.
Unique Pricing (Discounts)
Attractive prices, discounts, rebates also bring customers to the store.
Promotional schemes, gifts
Coupons and attractive gifts make shopping a pleasurable experience for the customers.
Merchandising Tips
Creative Portico Pvt Ltd sources bed sheets, curtains specially inspired from characters (Disney, Harry Porter, Hannah Montana) - a hit amongst kids.
Youngsters prefer funky clothes (colourful T Shirts, faded denims) as compared to professionals who would go for subtle colours.
The target market of Zodiac Clothing Company Limited mainly comprises of office goers and professionals. The merchandise (shirts, trousers, neck ties, belts) is as per the taste of the professionals. Beach house shirts would have no takers in such a store.
Since most of us are right handed, it is a common tendency that customers entering into retail store would first go towards the right side of the store. The merchandiser should display the unique and expensive collections on the right side of the store to entice the customers.
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