Consistent product availability is the reason behind a positive shopping experience and earning loyal shoppers. If the products become unavailable on shelves, it will cause a drop in your store’s footfall. That is why it is necessary to have the right number of products to avoid losing to your direct competitors.
Before we get into details about the product availability, it is important for a retailer to fulfill the needs of your customers by stocking the right items in the right quantities. When a shopper walks into your store, they expect your shelves to be full of a good selection of product ranges for purchase. By doing this consistently with the help ofplanogram, you can create long-term customer loyalty. Planogram is the best space planning software to reallocate your shelves with the right number of products to avoid being out of stock and meet the needs of shoppers. If your store runs out of stock, it results in low product availability and affects your business by losing sales and impacts the shopping experience. So, the following are some consequences of not having a proper product availability in store:
- Results in stock outs: One of the main reasons for stockouts is the low product availability on store shelves. To avoid that, retailers must align the product ranges with customer demands and stock items, respectively. The reasons behind the stock outs happening are underestimating the demand for products, changes in customer needs and market trends. That is why you need to stock the items when the demand for certain lines rises.
- Results in frustrating shoppers: Low product availability results in frustrating and annoying customers and creates a very negative shopping environment. Not having the right stock makes your shoppers not come back to your store and results in not satisfying their needs. This forces shoppers to either purchase a substitute product or visit another store.
- Results in huge loss of sales: As mentioned above, if your store runs out of stock, it will negatively affect your sales. So, how can you expect to keep customers in the store if you do not provide them with the products they need? Besides this, it can impact the relationship between a retailer and your supplier. For example, if the supplier fails to offer an adequate product range to its retailer, it can make shoppers find the items in the next shop, resulting in huge loss of sale and customers.
Planogram Strategies to Use Product Availability for Better Customer Experience
- Analyze the target audience with the correct range: As a retailer, having the right product range in your store can make your shopper’s experience happier. For this, you need to implement a data-driven planogram solution in your retail store to analyze past sales. With this, you will get the details of your top-selling items and can restock them efficiently to entice shoppers. This will prevent you from unnecessary stocking out and help in stocking the items most wanted by shoppers.
- Improve the layout of the store with visual appeal:Retailers can improve the store layout with planograms to have better control in reducing the shelf replenishment cost by visually appealing shelves. The layout and visual appeal will improve the shopping experience and increase sales, since shoppers find comfort in your shop if they get the products they need.
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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