Nexgen Marketing posted on June 29, 2022

Being strategic in every retail environment is one of the most important things to do in retail. If you want to please your shoppers and encourage them to purchase, there is a tactic for that. If you want to boost your sales and retail conversion rate, there is also a strategy for it. In short, you need to use multiple categories of tactics for the success of your retail store business. That is why planograms are the best. Planograms are visual merchandising tools, which help retailers merchandise different product ranges on store shelves efficiently. So, let us dig into detail about some category tactics that can aid winning product assortment in retail:

  • Understand the width and depth of the items: Product width is the number of a product line that a store offers. For example, a shoe store’s width is the number of items that the store offers, which includes different brands of shoes. It can also be broken down into further categories within width, which may include men’s sporting shoes, women’s sneakers, winter boots for both and more. Likewise, product depth is the number of subcategories of an item in a store. For example, if a store sells gift cards, it will have different product depths, such as 50 different types of new year greeting cards. Therefore, retailers need to understand the product range, brands, SKUs attributes of each brand for better sales.
  • Ensure your tactics can match with your category strategy: As discussed earlier, retailers need to align their category tactics with the chosen strategies. For example, if you want to uplift one of your categories, your goal is to increase the size of your said category by developing a wide assortment of items at eye level. This encourages your shoppers to purchase additional items while shopping at this level of category.
  • Observe the shopping habits and patterns of customers: Retailers need to pay attention to how their shoppers behave inside the store and the way they purchase items. This includes which items they explore the most? In which aisle do they spend the most time. This is the reason why retailers should understand their customers more than anything else and work on bringing a product assortment that could win their hearts. Let us say if you sell bathing products and discover that your customers want to purchase shower gel while they are buying shampoo, conditioner, body scrub, and soaps. Considering this, it makes sense to start filling the shelves with shower gel. Otherwise, it could lead to losing customers to competitors and result in a huge loss in sales.
  • Analyze past data to see the sales performance of items: Past sales reports are the most useful data for deciding how many items you should order and stock on shelves, which also results in planning a good product assortment strategy. For instance, if your planogram sales data shows the fast-moving items on your shelves, then you can order prior to avoid stock out. This will help to enhance your shopper's experience and improve sales. Besides that, retailers can use the right seasonal merchandising strategies in accordance with product data to entice shoppers.
  • Overview of Nexgen POG

    Nexgen POG is a robust and user-friendly cloud-based visual merchandising tool. It is designed for quick and efficient planogramming with minimal effort. Planograms can be designed by easily dragging and dropping the products. The multi-device compatibility feature of POG allows you to obtain, share and edit planograms on any device, including your phone. It helps in designing store-specific planograms for increased product visibility and sales.

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