Corporate Governance and Financial Crisis
The ongoing financial crisis has proved that Corporate America and the Corporates in other countries around the world have exhibited behavior that can be described as mismanagement and not keeping in tenets of good corporate governance. In this respect, some of the criticism that has been directed at corporate leaders and the bankers in particular […]
Product Leadership and Organizations
Any management student will certainly be interested in knowing what it is that makes organizations like Apple, Sony, Microsoft & Google etc stand apart from the rest and be counted as the market leaders. From an organizational perspective, these companies stand apart from the rest in their approach to product development that enables the organizations […]
Country of Origin Effects on Marketing
What is a County of Origin Effect? COO or Country of Origin Effect refers to the practice of marketers and consumers associating brands with countries and making buying decisions made on the country of origin of the product. For instance, as we shall discuss later, we tend to associate quality with the Japanese and precision […]
Time Management and Planning in Sales Management
Sales management helps in the achievement of sales targets within defined deadlines through effective planning and budgeting. Through effective sales management, individuals generate revenues and earn profits for the organization. It is essential for the sales professionals to understand the value of time. One must fulfill commitments and there should be no turn backs in […]
Strategy Implementation and its Steps
Strategy implementation is the translation of chosen strategy into organizational action so as to achieve strategic goals and objectives. Strategy implementation is also defined as the manner in which an organization should develop, utilize, and amalgamate organizational structure, control systems, and culture to follow strategies that lead to competitive advantage and a better performance. Organizational […]
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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Challenges to the Retail Sector (As per Michael Porter s Five Forces Model)
February 12, 2025
