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The Art and Science of the Display
Survival in today's tough retail climate is all about innovation and creating customer satisfaction. One of the principal tools available to the dollar store retailer is the store display merchandising. How and where displays are set up, how well the sales team understands their design and the quality of the display's “look” will determine how effective they are. Presentation is just as important in the dollar store business as it is in other retail categories.
In-store merchandising for the dollar store is no longer a commodities-driven method of organizing a product at retail, but rather the last stage of a comprehensive and integrated marketing plan. When the shopper walks through the door for the first time, she is subconsciously making a mental evaluation of several factors, and the focal point is the display. A well thought out display generates more customer traffic, creates repeat business and increases the average purchase size – all leading to increased sales.
Successful retailers know that they can dramatically increase their sales by merchandising items in a way that creates a good impression. A recent survey questioned hundreds of retail shoppers as they came out of the stores and asked them to rank various factors that influenced their satisfaction with the store. The percentage of respondents and their criteria are as follows:
Interestingly, price is only one of the important factors listed by customers. From this list it can be seen that a range of factors are important to customers. This indicates that retailers must be aware of several factors and how they work together to influence the customer. And the focal point for most of these items is the display.
Only 3.5% of respondents recalled having seen a display. This was despite the fact that they were surveyed just as they left the store! The study indicates that unless properly set up, consumers fail to remember the display – a complete waste of time and energy.
What are the factors that go into a successful display?
Retail today is a combination of revolution and evolution. With increasing interest in non-store retailing (catalog shopping, online shopping, home delivery), companies will have to redefine and plan new shopping environments that make the shopping experience as enjoyable as possible.
Unique displays add flavor to the store's interior, and merchandising helps the customer learn more about a product and promote the impulse purchase.
In order to survive and thrive in today's tough retail climate, companies must continually innovate to create stronger, more direct links with their customers.
At the same time, retailers must focus on the most demanding customers who want customization, value and service.
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