Innovation and Government Spending
Innovation is and has always been at the center of all human endeavors. People those who are able to perform more complex tasks with relatively fewer resources have often captured world markets and gained the maximum wealth. Every economic textbook acknowledges the value of innovation. It also explains how the printing press made scribes obsolete […]
Ethics in Sales and Marketing
Markets present a clash of interest between various players. There is competition for resources, customers and price etc, which breeds ground for activities that may not get ethical sanctions. A certain code of conduct, policies and practices called ethics are required to manage markets and marketing. Marketing is the heart of all businesses and all […]
Live for Your Customer
Take the case of any organization that is considered to be a global leader or a product leader and you will find that the recipe for success lies in the customer centered culture and approach that has been built up in the Company. The customer orientation is not limited to customer service or the front […]
Risk Management as a Profession
Risk management has evolved from being just a discipline to a full-fledged profession that lots of people are choosing these days. Reason, the discipline has become wider and has assumed manifold dimensions making it a crucial function in organizations these days. No wonder there is an increasing number of universities that offer specialized courses on […]
How Loose Monetary Policies by Central Banks Create Asset Bubbles and Lead to Inflation
Loose or Tight Monetary Policies ? The debate over whether central banks around the world must pursue loose monetary policies or tight monetary policies has become sharp in the aftermath of the global financial crisis. Loose monetary policy refers to the practice of central banks keeping interest rates low, stimulating the economy as banks would […]
The art of increasing the sale of products by effectively and sensibly displaying them at the retail outlet is called as visual merchandising. Visual merchandising refers to the aesthetic display of the merchandise to attract the potential buyers, prompt them to buy and eventually increase the sales of the store. In simpler words, visual merchandising is the art of displaying the merchandise to influence the consumer’s buying behaviour.
The store must offer a positive ambience to the customers for them to enjoy their shopping.
The location of the products in the store has an important role in motivating the consumers to buy them. Sensible display of the merchandise goes a long way in influencing the buying decision of the individual.
The end-user will never notice something which is not well organized: instead stacked or thrown in heaps.
Proper Space, lighting, placing of dummies, colour of the walls, type of furniture,music, fragrance of the store all help in increasing the sale of the products.
Lighting is one of the critical aspects of visual merchandising. Lighting increases the visibility of the merchandise kept in the store. The store should be adequately lit and well ventilated. Avoid harsh lighting as it blinds the customers who walk into the store.
The signage displaying the name of the store or other necessary information must be installed properly outside the store at a place easily viewable to the customers even from a distance.
The retailer must be extremely cautious about the colour of the paint he chooses for his store. The paint colour can actually set the mood of the customers. The wall colours must be well coordinated with the carpet, floor tiles or the furnitures kept at the store. Dark colours make the room feel small and congested as compared to light and subtle colours.
The store must always smell good. Foul smell irritates the consumers and he would walk out of the store in no time. Use room fresheners ‘or aromatic sticks for a pleasant environment.
The merchandise must be properly placed in display racks or shelves according to size and gender. Put necessary labels (size labels) on the shelves as it help the customers to locate the products easily. Make sure the product do not falls off the shelves as it gives a messy look.
The dummies should be intelligently placed and must highlight the unique collections, latest trends and new arrivals in order to catch the attention of the individual. The dummies should not act as an obstacle and should never be kept at the entrance of the store.
Don’t play blaring music at the store. It acts as a hindrance to effective communication and the retailer can never understand what the buyer actually intends to buy.
Select the theme of the store according to the season. Red should be the dominating colour during Christmas or Valentines Day as the colour symbolizes love, fun and frolic. A white theme would look out of place during the season of love.
Don’t keep unnecessary furniture as it gives a cluttered look to the store.
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