Management of the retail or display of the retail space is a crucial aspect of the retail outlet. How much effort to put on the display or management of the retail space will make your retail business more successful. It sounds very simple process, but there is a lot of planning and detailing of work involved. If you will not focus on this then the outcome will be affected. From making your business more successful you need to put some impact on the sales while placing the product on the shelves. If you are having a retail outlet then this blog will help you in organizing the retail outlet with the retail planogram techniques. To contribute to reading this blog till the end.
What is Retail Planogram?
Planogram is systematic arranging of the product in the retail outlet. In this how-to place the products on a shelf this matters. Planogram is also known as a Plan o gram. The arranging or placement of the products on the shelf will help you to increase sales. The more goods you put into the sleeves, the more product will be sold because the display of the product will attract the attention of the customer and there are chances of an increase in sales.
A visual planogram is sometimes used by manufacturers to suggest the display of their products. Also, your location of the store will be playing a crucial role in the success of the business.
Importance of Retail Planogram
- Space: Placement of the product will put some impact on the sales of the store. Place those products on the shelf which are popular and profitable and most important the seasonal products give them enough space so that the customer will able to see the products and grab the products easily. This space utilization helps you increase the profit margin of the outlet.
- Centralization: Planogram helps in the layout of the store and also they help retailers to grab the opportunities. If you centralize the sales strategy with the planogram, then you will able to give different types of sale offers with the layout to customers whenever they visit their store. This way will help you in gaining goodwill and increasing the profit margin also.
- Performance Measurement: Once the design and implementation first planogram is over then you need to analyze the performance and measure the profitability of the store. Then moving to redesign then you need to consider the previous design and accordingly do the further work.
Advantages of the Retail Planogram
- It will give you a clean and classified arrangement of the products
- There will better space between your product and category performance.
- Everything is properly allocated, which means there is an increase in sales.
- There will be proper utilization of the space and the return space of the product will be there.
- Your brand value will be an increased
- Performance will be consistent.
- It will increase the chances of the selling of entire shelf space.
- Your sales strategy will be realized at the store level.
- Sales and stock rotation will be increased
- Systematically organized stock will always attract the customers
- This will help you in optimizing the store stock