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How has Covid-19 Changed Retail Merchandising? The global COVID-19 pandemic has significantly impacted consumers worldwide, causing changes in their buying behavior and shopping habits.
In the beginning of 2019, panic buying set in, resulting in empty retail shelves. While retailers and suppliers struggled to keep up with the drastic increase in demand for essential goods, the global supply chain disruption resulted in unavailability to enough stock. The buying habits of consumers have also been severely affected. For example, consumers would rather opt for alcohol-based hygienic hand and body washes instead of the usual fragranced ones. Since many people faced salary cuts and unemployment, consumers became price-sensitive and opted for basic affordable goods with longer shelf life over fancy luxurious brands. Another point worth mentioning is the increasing popularity of online shopping and eCommerce websites, since it limits consumer’s exposure to public places.
Why Planogram Research is Critical for Planogram Success? Planograms are an integral part of any retail store.
In simple words, these are visual merchandising tools that contain detailed drawings of the store layout, that guide retailers in deciding what, where and how products should be placed on shelves. A well-designed planogram can improve sales, minimize overall costs and provide pleasant shopping experiences to customers. That being said, creating and implementing a planogram is not a one-time process. Especially, in retail, planograms may have to be redesigned so as to accommodate new launches or seasonal products.
In spite of the cost and labor involved in planogram resets, can retailers know whether they have a great planogram that will increase sales and enhance customer’s shopping experience? What is the ideal shelf location for a particular brand? 1. Retail shelves do much more than displaying products in a store- it helps to market brands and aid in analyzing customer’s preferences. How do planograms help in days of supply? What Happens When Merchandising Meets Analytics in Retail? Why Planogram Automation is Critical in Retail? Recent studies suggest that almost 65% of the total purchase decisions are made in-store.
This highlights the impact of store, shelves and aisle on a consumer’s buying decision. In order to leverage the opportunities of impulse buying decisions, retailers rely greatly on planograms. These are visual merchandising tools that help retailers in deciding where and how products should be paced for maximum visibility and sales. Ever since the beginning, planograms have been a crucial factor in retail sales strategy. Nexgen POG - helping manufacturers gain profit with planograms.
How does a planogram help in overall cost reduction? It is often said that we have to spend money to make money, but we also have to save money to make money.
Running a retail store involves a lot of recurring expenses. In order to keep the store functional, retailers have to set aside money to pay rent, inventory, salary and many more. With increasingly low profit margins, retailers are continuously in search of ways to cut costs. Although expenses cannot be eliminated completely, it is not impossible to reduce them. In this blog, we will be discussing how planograms play a significant role in overall cost reduction in retail. Planograms are diagrammatic representations of the store layout that assist retailers in deciding a store’s merchandise display strategy. 1.
Days Of Supply refers to the number of days it will take for a retailer to sell out his current stock on shelf. Stock related costs can be efficiently reduced by using data-driven planograms. Space Planning must haves for Retail Success. How Does Planogram Improve Efficiency of Store Staff? Undoubtedly, store staffs are the main driving force behind every retail business.
Without staff, a store cannot function. Therefore, developing their skills and improving their efficiency is a priority for every retailer. While an enthusiastic and dynamic sales team can contribute immensely towards retail productivity, a disengaged and unskilled team can cause a business to suffer. In this blog, we will explore how planograms can help improve the productivity and efficiency of store staff. Planograms are visual merchandising tools that contain detailed drawings of the store layout. 1. To ensure complete space planning optimization, retailers commonly use a combination of planogram software, store planning and range planning software. Planogram Tutorial. Must have Features of a Planogram. How to Boost Festive Sales Using Planograms? It goes without saying that 2020 has been a challenging year for everyone.
The COVID-19 pandemic has negatively impacted most business. This year’s festive shopping and seasonal celebrations are quite different from what we have experienced. There are a number of factors that affect how, when and where customers shop as well as availability of items they are looking for, In this blog we will be discussing how retailers can use planograms to make the most of their festive sales. Planogram software are a real gift to retailers. Planogram features for optimizing festive sales: 1.Sales report: When product range meets customer’s needs, it will result in maximum product sales. 2. Planograms to enusre days of supply. Space Planning Software. Case Studies Menu.
Planogram Compliance Management. Case Studies Menu Products Services Case Studies Company.
How Planograms Influence Consumer Behavior? - Blog - Nexgen. In simple words, consumer behavior refers to the process of understanding how customers behave while deciding to buy a product that satisfies their needs.
There are a number of questions that a retailer focuses on, to understand customer’s buying patterns. These include: Three Space Planning Errors to Watch Out for. Planograms to Ensure Optimum Levels of Days Of Supply - Blog - Nexgen. In simple words, Days Of Supply can be understood as the number of days a product is expected to last before it is restocked.
It is often evaluated against a monthly or quarterly time frame. A proper understanding of movement of stock on shelves is crucial for retail success. Not only does it help in pleasing customers, it also helps retailers understand how many days the current stock will last based on sales data and customer demand. So, what can retailers do to ensure optimum levels of Days Of Supply?
The answer is planograms! Planogram is a visual merchandising tool used by retailers to plan, develop and implement a store’s merchandising strategy. 1. If you run a retail store, you will be aware that there are some products that are sold throughout the year while there are others that are sold seasonally. Planogramming just got easier with Nexgen POG. How Planograms Ensure an Amazing Shopping Experience for Customers? - Blog - Nexgen. Today, consumers have more options and places to shop than ever. With increasing competition among bands, companies try to innovate and differentiate themselves by delivering consumer-oriented campaigns and experiences that prompt target audience to choose a particular store over others. Customer experience is defined as “the customer’s perceptions and related feelings caused by the one-off and cumulative effect of interactions with a supplier’s employees, systems, channels or products.” Providing a good shopping experience can contribute significantly to revenue growth and customer loyalty.
Are you ready for an all new Nexgen POG? There is never a time where Nexgen POG team is not working on improving our software. Be it through enhanced features, new updates or fixing bugs, we strive to ensure a seamless planogramming experience for our users. Today, we are excited to announce enhancements to Nexgen POG, helping users improve the efficiency of their space planning efforts t while bridging a gap between customer needs and business goals. This includes a host of new features, to help users to improve their business performance while gaining an edge over competitors in the industry. Launched New Nexgen POG. Why is it important to update your planograms regularly?
Category Management & Cross Merchandising to Ensure Customer Loyalty. Why Do You Need Accurate Assortment Planning? What are the major barriers to successful planogram implementation? Visual Merchandising and inspiration. Reasons for Increasing Popularity of Online Cloud-based Planograms - Blog - Nexgen. Planograms are no longer a luxury to retailers, rather a necessity. As the name suggests, planograms are diagrammatic representations of a store layout with a special focus on product placement. These visual merchandising tools ensure availability of the right product, at the right place and time for maximum customer attention.
Considering the limited amount of space available to a brick and mortar store, calculated shelf space planning is crucial for retail success. A well-designed planogram can increase sales, improve customer loyalty and reduce overall costs. Planogramming is not a new concept. . · Installation and configuration processes were time consuming · Product and image library had to be updated regularly · Planograms could not be shared easily with other team members. Planogram Compliance Automation (A case study) Dynamic Merchandising Practices Require Store Planogram Tools with Flexible Features - Blog - Nexgen. The retail world is now moving more and more towards digitization. The concept of Machine Learning and Big Data Analysis makes the customers’ every move in the store an evaluating point to come up with new and more influencing product and store display strategy. In the retail industry, CPG firms are expected to offer retailers with new insights to maximize store-shelf efficiencies to deliver the consumers the expected shopping experience.
Hence, CPG firms should adopt new tools and practices that will not only help them to align with these expectations well but also make them their preferred partners. Category management earlier was a concept where the focus ran from sales to shoppers. Now the focus is shopper-centric. Assortment Planning - A Complete Guide. Category Management and Cross-merchandising to Ensure Customer Loyalty. Convenience Store Planograms. Convenience Store Planograms. Cross-merchandising - Try it to improve your sales volume. How shopping would be expected to look like after COVID-19? - Blog - Nexgen. As the COVID-19 crisis goes on spreading and affecting the daily lives and businesses of humanity, it is very clear that post this crisis the retail store businesses and the shopping behavior will also be affected.
The retail stores will be quiet. Very few customers will be rushing in and out of the store. In this time of quarantine, the people are more aware than ever, they are watching everyday how the pandemic is overpowering country after country, state after state and city after city. The people feel a sense of fear and alarm whenever they step outside. Consumers are afraid to step out and purchase and are switching to online shopping with doorstep services where they do not have to go anywhere. During this tough time, the retailer should come up with a plan so resilient that their sales do not have to suffer after this pandemic or in any other such crisis that hits the world in the future. Get your free trial now. How Will COVID-19 Impact The Retailers and The Shopping Habits of Consumers? - Blog - Nexgen.
Coronavirus Disease 2019 or COVID-19 is an infectious disease that started spreading globally from January 2020. It was then when this outbreak was declared a public health emergency of international concern. Plan every inch of your store to convert every step the customer takes in the store into a purchase. Plan every inch of your store to convert every step the customer takes in the store into a purchase All of us have experienced a moment in our life when we are just strolling down the street and a store across the street catches our attention and we decide to go have a look inside the store. Ever wondered how does our mind come to this decision of entering the store in which we had no prior intention of going? This is not just a coincidence. The store presents itself in such a way that attracts the people outside and convinces their minds to take a look inside. And when this happens our mind develops expectations about the insides of the store with respect to the outside of the store.
In the retail world when these expectations are met satisfactorily in the customers’ perspective then the store successfully reaches the end of the purchase funnel by converting a pedestrian into a customer. Category Management and Cross-Merchandising to Ensure Customer Loyalty - Blog - Nexgen. Category management is a retailing concept in which the range of products sold by a retailer is broken down into discrete groups of similar or related products; these groups are known as product categories.
Each category is independent of each other and is treated as separate strategic business units. These units have their own set of turnovers or profitability targets and strategies. Strategies and tools that guarantee to give your sales graph a rising slope. Developing Merchandise Assortment Plans - Blog - Nexgen. Assortment planning in retail involves selecting the collection of products which will be on offer in particular locations and during a specified season.
It considers the financial objectives and seasonality of the product selection in a way so that both you and your customers gain from the outcome. Planogram Software for just USD 400/year – 2019. Planogram Compliance Reporting - 2019. Top Cross-merchandising strategies. Color-Blocking - Factors-to-consider-while-planograming - Nexgen - Blog - Nexgen. For centuries artists have used color to convey and invoke emotions. From detailed researches to personal experiences have revealed the psychological impact of colors on human beings. Now, the effect of colors is taken advantage of in nearly all aspects of consumer life. Interior designers, web designers, advertisers, visual merchandisers are all using color as a powerful communication tool that can be used to influence mood, invoke emotions and stimulate reactions. When you walk through a highway, appealing windows and the display of products in your store are the determining factors that can attract a potential customer to your store over your competitors.
This process of attracting customers to your store using visually compelling displays and product arrangement is visual merchandising. Color Blocking is the merchandising methodology that uses color coordination to improve the visual aesthetics of the product displays and encourage store walk-ins and sales. Visual Merchandising Planogram — Benefits, Examples. Nexgen. How to share Planograms Online Using Nexgen POG ? - Nexgen - Blog - Nexgen. Planogramming Using Neuromarketing.
Planogramming For Retail Success. How two fortune 100 companies used Nexgen POG to improve their productivity and cost. Top Cross-merchandising strategies. Nexgen Planogram Features 2020. What_do_you_need-to_know_before_investing_in_a_planogram - Blog - Nexgen. There are large number of retailers in different categories based on the size of the product range & volume handled. Different tiers of retailers include: First Tier: Upscale, high fashion chains with exclusive designer merchandise and excellent customer service with sales greater than $ 1bn.
Second Tier: Retailers sell more modestly priced merchandise with less customer service with sales between $100mn and $1bn. Third Tier: Value oriented caters to more price conscious customer with sales less than $100mn. Planogramming-with-Nexgen-POG - Blog - Nexgen. Planogram-in-different-industries - Blog - Nexgen. How to Plan Your Sales Using Planograms. Convenience Store Planograms - Designing Tips & Ideas - Nexgen - Blog - Nexgen. How to share Planograms Online Using Nexgen POG ? - Nexgen - Blog - Nexgen. Why Use Planograms For Visual Merchandising? - Nexgen - Blog - Nexgen. Why should you use planograms in retail? - Nexgen - Blog - Nexgen. Top Displays In Visual Merchandising. Planogram your Cross-Merchandising Ideas - Nexgen - Blog - Nexgen. Why should you use planograms in retail? - Nexgen - Blog - Nexgen. How to create planogram (2019) - Planogram Tutorial Updated.
Planogram Automation (2019) Planogram Software for Visual Merchandising. Visual Merchandising Planogram – Nexgen. Visual Merchandising Planogram – Nexgen.