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Why Is Merchandising So Important?

By now, you’ve read countless books, listened to numerous podcast episodes, watched countless webinars, taken the trip down winding sales funnels, spent tons of money on courses and workshops, bought vendor lists, but something is STILL missing.

Ding ding ding!  It’s Merchandising – the buzz word that no one is talking about.

And that is because most “gurus” are business generalists.

Our team has 100+ years of combined experience working exclusively with brands and retailers.

Merchandising is having the
  • right products
  • at the right time
  • at the right price
  • at the right place
  • with the right promotion
  • with the right people.

Merchandising should be the core of every product-based business (aka yours) and at the forefront of all decisions.

Here’s the kicker:

All large retailers and brands are run by their merchandising departments.  It is the missing critical piece in most small and medium-sized business’ strategies and joining us here closes that gap.

If you’re still unsure of exactly what merchandising is, or why it’s needed:

It is similar to the 5 P’s of marketing, but merchandising is product-facing and product driven.

 

Here is how you as the merchant / buyer works with other teams within your company:

📊Merchandise Planning: to determine the financial goals and the number of items and quantities needed to hit those goals

🖌Design & Product Development: to align on what trends + items you need for the upcoming season

🚢Production: to place Purchase Orders and ensure the orders ship on time and are of your quality standards

📣 Marketing: to give direction on what products to feature and to make sure all materials reflect your brand aesthetic

🛍 Visual Merchandising: to give direction on product placement in the store physically and digitally

☎️Customer Service & Sales: to train them on the features and benefits of the products

 

Whether you have all of these teams, or you alone wear all of these hats, having a plan for each business area above is essential to your overall success.

 

If you aren’t approaching your decisions from a merchandising perspective, you are missing out on productivity, customers, conversion, and most of all – sales.

Inside Retailing Evolved, we approach your business strategy from this perspective and have Consultants from of all the above teams to support you as you continue to grow.