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Effective Visual Merchandising and Buying Strategies for Retail Success

This chapter explores the critical elements of visual merchandising and buying strategies in retail. It identifies three main purposes: selling merchandise, projecting the store's image, and educating customers. The process includes designing and building engaging window displays, utilizing versatile fixtures, appropriate signage, and various lighting techniques to enhance the shopping experience. It also emphasizes the buyer's role in planning, vendor relationships, product development, and sales strategy, highlighting the importance of financial planning, trend analysis, and inventory management to optimize retail performance.

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Effective Visual Merchandising and Buying Strategies for Retail Success

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  1. Chapter 8.2 & 8.3 Displaying & Buying Style

  2. Visual Merchandising • Three purposes • Selling merchandise • Projecting image • Educating customers • Creating of window displays and showcases throughout store

  3. The Steps • Designing – sketch, list of materials with costs • Building – gathering materials (mannequins), assembling props • Installing – usually takes place after business hours; includes appropriate lighting

  4. Fixtures&Signs • Fixtures – furniture/wall units that hold product • Versatile Fixtures – easily changed to meet needs • Signs – stores focusing on convenience will have lots of readable signage

  5. Lighting • Task lighting – lights were a tasks needs to be done (i.e. cash registers) • Accent lighting – focuses on specific garments or accessories. • Space lighting – creates store ambiance and provides lighting to move through the store. • Luminaire – complete lamp (including parts to focus lamp, swivel, etc)

  6. Buying Style • Buyer – once thought to be glamorous is actually a workhorse job! • Planning! • Merchandise plan – list of current inventory, projected sales, quantity on order, garments still needed • Assortment plan – specific info on sizes, colors, styles, and quantity of each

  7. Vendors • Buyers choose vendors with the right styles, price points, levels of quality • Terms of payment – how long buyers have to pay for product (discount?) • Relationships – based on trust and mutual benefit

  8. Vendors (cont.) • Differentiation among competitors • Exclusive rights – agreement with a vendor not to sell certain garment to any other store • Product Development • Work with manufacturers or designers to develop exclusive items • Private labels

  9. Merchandising • Buyers usually report to Divisional Merchandise Manager and General Merchandise Manager • Defined: obtaining and presenting apparel and accessories for sale to customers. • Evaluated on sales, profit, inventory turnover

  10. Merchandising Involves • Financial planning and analysis • Maintaining open-to-buy budgets • Forecasting • Reacting to sales and inventory levels • Assuring ad merchandise is in the store • Identifying and interpreting trends • Transferring merchandise among stores • Presenting reports on strategies/results • Determining markdowns

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