Category Archives: retail

Apr 20, 2023

Key Elements to Be Considered Whilst Designing The Exterior of A Retail Store

With changing times, the consumers’ expectation from the brand, its products/services along with the shopping feel it provides is different considerably. This has forced retail proprietors to re-define their store proposition and undertake recognised measures to cope with the varying needs of the consumers. As a store is the powerful tool in the hands of retail keepers to meet consumer’s growing expectations, retailers now give adequate emphasis to retail interior planning.

Exterior store design is one in the main factors that shape the perception in the consumers about the store. It is the initial thing a consumer sees concerning the store, which makes it a deciding factor if they should type in the store or otherwise not. Hence, exterior store design should communicate an amazing image from the store and entice consumers to come inside. The elements that affect the surface look of the store include store fascia, window displays and store entrance.

a) Store Fascia: Store fascia could be the most visible and primary expression of a company’s identity. It tells customers what your store is about whilst portraying the positive along with the right image in the store. The store fascia ought to be developed in a way that it accurately represents your organization and attracts the right audience. It must be unique and popular with entice passers-by into a shop.

b) Window Displays: Window displays emerged from merely products stocking spaces to potential marketing strategy. It is an important point of contact between the store and customer and it has tremendous power to attract visitors. By thoughtful displays of best store merchandise in window displays, you can actually convert the passing by visitors into loyal customers. However, avoid clutter of products as it distracts the visitors. Keep the window displays clean so that it gives a proper preview in the store inside. Change the positioning of items, photos, mannequins as well as other items on the display after periodic intervals. Also, use bold colours and proper lighting to spotlight the products on the display and attract the customers can use into a shop.

c) Entrance: The work is half done every time a visitor is greeted with a well-designed entrance that sets his/her mood for a purchase. Determine the volume of entrances that your particular store must have for the basis from the store layout and traffic. The purpose from the front entrance and also the back entrances will vary, hence the structure must be done with the purposes the entrance serves. The entrances must be wide, spacious and welcoming. There ought to be no clutter or barriers at the entrances. Also, nice graphics on the entrance and exit produce a lasting impression about the visitors. Entrances also needs to give an introduction to what a consumer should expect after entering a shop.

Thus, the exterior elements, including store fascia, window displays and entrance all interact in creating a pleasing and function retail design that catches the customer’s attention and leads them into the store.

Jan 10, 2023

Multi-Unit Store Segmentation

Multi-unit retail operators tend to be offered challenges using their product assortment because of varying demographic and store configurations on their network of locations. Often, product assortment is standardized across all store types which leaves opportunities for niche marketing about the sidelines. Rather than the usual one-size-fits-all approach, multi-unit operators should segment their stores in order to optimize the product assortment.

Store segmentation doesn’t necessarily mean store-by-store plan-o-grams, but alternatively a grouping of store “types” that consume to consideration location, demographic and structural attributes of the complete network of stores. Grouping stores over these varieties of segments, allow a multi-unit operator to optimize the trade area, while still being capable to manage the process of SKU management.

Ideally, managing product assortment store-by-store would be optimal, yet it’s impractical because of the resources available. Store segmentation provides for virtually all stores to optimize the neighborhoods in which they serve, yet allow for the operator to effectively manage the logistics of segmentation.

Here are a few steps to think about when looking at store segmentation:

Know Thy Customer: Customers throughout your respective trade areas can vary greatly. The urban shopper – perhaps without a car – will shop your urban locations vastly differently than the usual rural customer. Not only will they shop differently, but also they’ll be expecting targeted product assortments that will make sense inside their neighborhoods. In urban markets, there can be products geared toward more singles and younger audiences where in rural markets the assortment could be focused more on families.

Assign Store Attributes: Next for the list is always to assign key store attributes per from the store segmentations. Size of store, location and store type may all dictate if the store features a full selection of SKU’s or maybe more of the limited offering. Larger stores with the appropriate demographic makeup may lend itself to more of your premier offering – in the quality and assortment – whereas smaller, transient locations may carry merely a limited product assortment.

Delineate Product Assortment: Not every store within the network should carry a similar product assortment. Larger, newer stores have greater permission to offer more premier products then tired, smaller stores. Perception might be reality and fitting a premier product into a reduced location will fall flat with the consumer. Store segmentation helps guide the two services and products that will be “permitted” by the customer to get carried in this particular store.

Divide And Conquer: Once the core product assortments are driven by store type, plan-o-grams and marketing are able to be put into place. Store segmentation allows for a strategic guideline not simply for operations but also for your merchandising and marketing tactics being employed. Knowing the customer demographic within the constraints in the physical attributes in the store will most likely dictate the general marketing and merchandising of the merchandise assortment.

Allocate Capital Investments: Once the shop segmentation process is complete, the corporation can then allocate capital investments accordingly. Premier locations may have the greatest upside and so have the lions-share in the organizations discretionary capital investments. On the flipside, basic stores may possibly receive stay-in-business capital to be able to keep them operating. Over time, these allocations can vary greatly as demographic shifts inside targeted trade areas take place.

Store segmenting is a critical tool for your multi-unit operator. It focuses the corporation using a strategic direction in addition to a realistic perspective that all stores are the same. Delineating your network of stores in this fashion permits a far more prudent allocation of both labor and capital investment.