Planogram technology brings the best solutions to a retailer’s shelves.
When retailers use planograms, success doesn’t happen by chance. An increase in sales and the profitability of the store is an inevitable result. It’s a strategy that works because planograms are consumer-centric. By design, the best planogram software solves tough problems by focusing first on the consumer.
What is Range Optimization?
One of the tough problems retailers face is selecting the optimal range of products and knowing where to put which products.
Through range optimization, retailers can achieve a better product mix on their shelves. Retail range optimization makes it easy for customers to select products. It gives retailers the ability to choose a range of products that best suit the market and meet consumer needs. Thus, the optimization of a range involves the placement of products on shelves to provide optimal value to consumers and retailers alike. Major benefits include:
- Improved customer experience
- Increase in sales
- Improved customer loyalty
How Planograms Enhance Product Placement
Strategic product placement affects the bottom line and helps satisfy the consumer’s need. It also results in a better in-store experience. On the other hand, poor product placement results in disgruntled customers who are less likely to buy a retailer’s goods.
As stores get larger with bigger inventories and stock keeping units (SKUs), retailers must make the implementation of retail technology a priority. Planograms are a simple way to stay ahead of the game.
After all, the personalised planograms take product placement to the next level. These advanced tools integrate range optimization on easy-to-use, 3D platforms!
In essence, retailers can expect impact that lasts when they use tools that generate customized product placement for a specific store.
Planograms Help Retailers Build Customer Loyalty
For most passionate retailers, it’s about knowing the needs of your consumers and having systems in place that ensure those needs are met.
When customers are happy and systems or processes are in place to consistently meet the customer’s need, success becomes a reality. The best planogram software understands customer behavior. It takes advantage of data to give incredible insight about what consumers want. Ultimately, products are then placed in ideal locations within a store that provide optimal opportunities for achieving a sale.
But why is it so important to understand consumer behavior?
Think of a relationship. It takes constant communication to ensure that any relationship thrives. Likewise, retailers that prioritize a customer’s needs by placing products in ideal location on a store’s shelves, communicate value. They are not only improving the customer experience of the store, they are building a relationship with the customer. Consumers who enjoy their in-store experience are more likely to return again and make other purchases.
Key Strategies for Implementing Range Optimization
With more goods on the market, retailers are facing stiff competition. To make matters worse, research suggests that consumers have a harder time choosing products when more options are available. How can retailers help consumers find the products they need faster and increase profits? To implement the best range optimization, consider three key strategies:
Don’t be quick to cut:
Retailers need to manage large amounts of data which helps them determine which products work best where. For instance, if the product is a dairy drink, where should it be on the store’s shelves? How many varieties of the product should be on shelves and in what quantity in each row? Don’t be quick to cut goods because they seem at first glance to be less profitable. Instead, use tools that integrate data to drive sales in every product category!
Learn from your consumers:
The consumers that visit your stores are your greatest resource. Don’t leave this resource untapped. Instead, look at consumer behavior more deeply. The first planograms came from a marketing firm’s deep desire to understand where the best spots for merchandise within a store were located. Cameras mounted inside these stores did the trick. These days, retailers have much more than cameras at their disposal when it comes to learning from their customers. Use tools like planogram software designed to help you make better product placement decisions.
Use technology wisely:
Retail innovation cannot take place without the wise use of technology. Not every retail solutions tool is created equal. However, retailers who take a serious look at planogram technology will not be disappointed. To ensure you are using technology wisely, determine early whether or not the tool is data-driven and provides real solutions for your needs. Range optimization must be an important solution to guarantee your retail store’s success.
In essence, planograms are really the tool retailers need to make customers happy. This retail solutions technology helps retailers get the right product mix on shelves, which in turn drives profits!