Retail Merchandising refers to the various activities which contribute to the sale of products to the consumers for their end use. Every retail store has its own line of merchandise to offer to the customers. The display of the merchandise plays an important role in attracting the customers into the store and prompting them to purchase as well..
Merchandising helps in the attractive display of the products at the store in order to increase their sale and generate revenues for the retail store.
Merchandisers play a key role within organizations, as profitability can be affected by how successfully they undertake their work. Merchandisers set prices to maximize profits and manage the performance of ranges, planning promotions and markdowns as necessary. They also oversee delivery and distribution of stock and deal with suppliers.
After setting the retail pricing, the process of retail merchandising moves on to the task known as setup and display. This process is concerned with displaying the goods within the retail setting to best advantage. By using such devices as display windows, elevated platforms, and colorful backdrops to attract the attention of shoppers, the retailer increases the chances of selling units quickly. Setup and display are often considered especially important with fashion merchandising and similar retail settings, in that the visual display is often the key means of attracting customers who are highly likely to make a purchase. Quick sales lead to higher profits and the chance to secure more products that will result in more sales.
Marketing is an important aspect of any retail merchandising strategy. Engaging in a publicity campaign to reach prospective customers may involve something as simple as advertising in local publications as well as electronic advertising on local radio and television stations. Direct mail is also a common strategy in retailing, as the mailings make it possible to reach people in their homes and places of business rather than relying on them to approach the retailer first.
