If you have recently opened a shop, the benefits of using merchandising services cannot be underestimated. At this point, you not only want customers through the door, but you want them to buy items and maximise your profit. There are various ways of doing this and in some respects it is quite simple.

What you have to bear in mind when selling items is that the gap between what you purchased at the wholesale price and what you sell it at the retail price is your profit. Getting the most out of this depends on how much you need to order, how well it is displayed and how quickly it is sold.

A good merchandiser will be able to show you the best ways of clearly displaying your product. For example, if it is featured prominently in a hit film then this can often help when showing the product alongside other merchandise that either features in the film or effectively sponsors the film.

The gamble there is in assuming that the film will be a hit. Equally misjudging the popularity of a film can affect the amount of profit you will receive from this. A smart retail merchandiser will recognize this, discounting the products and clearing them out ready for a more popular tie in.

This is why merchandisers generally work around 12 to 18 months in advance. While it is not always certain to predict trends, they can usually find seasonal items that will be popular. If you run a stationary store, then you will generally prepare back to school stock around August with the remainder of any unsold stock discounted around September.

They will also usually look at the sales trends of the week, forecasting what stock will be needed and ensuring that enough is available for any anticipated rises. Of course sometimes this cannot be controlled. If you sell barbeques and the weather forecasts predicts sunshine, you will sell more than if the forecast predicts rain. However these reports are not always accurate and so the situation can easily be reversed!

Another thing that can help are clear backdrops for any product lines. Bold colours often stand out and phrases such as new, improved or value will often get attention. Promotional coupons often help attract casual shoppers as they look for new products to try out. A merchandiser will work with a retail supervisor to find the ideal location of the products. Generally the best ones will be around the eye line of the customer and if they are bold enough will generally be at the very least picked up.

It is worth learning more about merchandising services. There are various companies offering these kinds of services and it is important to compare what they have to offer. Feedback forums can also help, though it is worth noting that many companies are wary of spam messages. The general advice is to ignore overly positive or negative reviews and concentrate on the majority around the middle. Demonstration videos can also show you the kind of work they do and you can see the difference it can make for your company.

Author Bio: Want your products to stand out from your competitors? Consider hiring merchandising companies. Merchandising can offer a unique competitive advantage. Cosult a merchandising Toronto specialist today.

Category: Marketing
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