Maximizing Sales Through Effective Merchandising Strategies

1. What Are Some of The Major Challenges and Trends that have Been Impacting the Merchandising Space?

The unprecedented era of pandemic-fueled consumption had a trickle effect on the merchandising space. Although the shift to eCommerce was swift, many consumers are resuming prepandemic behaviours of shopping predominantly in-store, now with a more discerning eye and a far less flexible budget. Gone are the days of unabating brand loyalty – consumers today seek a balance between convenience and considerate consumption. Impactful communication of your brand, service, or product value matters. In these trying times, it is not enough to provide a good assortment of products at a competitive price; consumers need to feel good about it too. As newer generations (the purchasing power and key decision makers of our future) continue to prioritize ethical and sustainable business practices, so should you.

2. What Keeps you up at Night When it Comes to Some of the Major Predicaments in the Merchandising Space?

With the blending of online and offline environments, omnichannel environments are becoming less of a luxury and more of a necessity. Shopping experiences are expected to adapt and continuously aim to provide the most frictionless, personalized experience possible for each consumer, regardless of the channel you are operating within. Both small and large-scale businesses are feeling the pressure, and each is succumbing to its unique struggles.

For small businesses, it can be challenging to pool the resources necessary to create an effective online presence to match or elevate the one offered in-store. The initial investment and maintenance required for introducing or leveraging new technologies (like digital signage, 3D models, and AR experiences) can seem out of reach. Larger-scale businesses can often access the resources required to compete effectively but are challenged with breaking through the classic corporate red tape. Decisions that require agility, investment, and prioritization are restrained enough to ensure they are always a step behind the finish line. Being proactive rather than reactive is critical, but getting the buy-in required to achieve alignment can be disconcerting.

You can host 20 high-resolution pictures of a hero product on your online store, but if that’s your only focus, you can come up short. You need to showcase if the product and its journey to the consumer are sustainable (recycled packaging, product components, and materials, and carbon-neutral shipping efforts, are a nice start), whether the product is ethically produced, if the image files and on-page SEO are optimized (accessible, discoverable, descriptive and quick to load), or if the quality and value of the item are appropriately communicated across every other facet of the product detail page, website, and brand story, to attract and satisfy today’s conscious consumer.

3. What are Some of The Technological Trends Which Excite you for the Future of the Merchandising Space?

The blurring of our realities (physical and digital) is what intrigues and excites me the most. Living through the boom and bloom of the digital age and appreciating the efficiencies and accessibility afforded by allowing digital tools and systems to become an integral part of your daily work and life, I cannot wait to see what is in store.

AR and 3D modeling is a big one I have been passionate about as I have played around with AR experiences during some of my larger Media Buying stints. Bringing a paper flyer to life with an elevated experience, the inclusion of QR codes in-store for customers to explore more about the products or services featured (and even more recently, billboard and video ads), and the ability to carve out your ideal space, will continue to find footing with consumers. As eCommerce struggles with some of the highest return rates, having the opportunity to try before you buy can have a longstanding impact on a business. This doesn’t just apply to saving on return shipping but also to creating a better experience and opportunity for connection with consumers. Although the home goods, apparel, shoes, accessories, and beauty sectors have been leaning more into this as of late (using both in-house activations as well as social capabilities offered by vendors such as Snapchat, Instagram, and TikTok), I think this would lend well to recreational products. Some retailers have been facilitating 3D modeling of a space to design the perfect living area configuration or closet, but would it not be nice to truly understand the magnitude of an “8-Person Tent” and know exactly how many air mattresses or camping cots will comfortably fit in it? And without trying out your bike, would you not like to have a visual understanding of if you need to get the “Large” size frame? There was a time when I worked the retail floor as a customer service associate, where key responsibilities included putting up and pulling down sale stickers and signage. The endless papercuts I endured, the number of stickers disposed of weekly, and the inconsistencies discovered each time felt both wasteful and dreadful on many levels. As digital signage and tags are introduced and more commonplace, I hope that the companies providing these merchandising products, technologies, and services can recognize and adapt their costing structures to allow smaller-scale businesses to take advantage.

Again, this all circles back to aiming for a more sustainable future. If we can effectively merchandise products and promotions, we can reduce the paper waste created by traditional stickers and signage. If we can minimize product returns in any way, we can save that additional trip back to the warehouse and further reduce waste and emissions. We can create a more engaging, effective, and attractive environment, both online and off.