Quantzig, a pure-play analytics solutions provider, has announced the completion of their latest article on the top retail merchandising strategies followed by companies to boost sales.
With the increasing competition, it has become crucial for businesses in the retail industry to boost sales to stay ahead in competition. To achieve this, companies need to ensure that their products are present at the right time and the right price on the website. But this cannot be done single-handedly by companies as it requires a rigid merchandising strategy. In this hyper-competitive market, retail merchandising strategies form the basis of the success for any retail company. However, these strategies need to be developed collaboratively by the retailer and the manufacturer to target specific goals such as inviting new customers, increasing foot traffic, increasing sales, or developing loyal customers.
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Cross-sells and up-sells are effective retail merchandising strategies and play an important role in boosting average order value and increasing sales, says a retail industry expert from Quantzig.
Top retail merchandising strategies:
The layout of your website
Retailer merchandising companies use various strategies to influence the buying decisions of shoppers. These strategies include promoting bestselling and higher margin products on the homepage of the website. Since the site layout plays a significant role in driving conversions, online retailers must ensure that customers easily find what they are searching for and add it to their bags. This helps in driving sales to a greater extent. To know more about the pricing impact and efficacy of retail merchandising strategies, Request a proposal.
Multiple images of high quality
Images play a major role in driving conversions. This gives the buyer an overall view of the product as buying decisions are highly influenced by the sense of sight. Therefore, it is a must for retail merchandising companies to use multiple images of high quality in their website for better conversions and sales. Get in touch with our analysts and know how retail merchandising strategies can help you in boosting sales of the organization.
Customers have become highly aware of what they are buying. They perform a detailed research before buying a product and choose the best quality product for the least price. So, it has become imperative for retail merchandising companies to track the product and pricing of their competitors apart from analyzing their own inventory. Therefore, competitive analysis forms the most crucial aspect of any retail merchandising strategy. To know more about the competence of retail merchandising strategies in driving a competitive edge, view the full article here!
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/get-more-info
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