Correct seasonal merchandising. What is it like?
Merchandising depends on the season. Think about Christmas, Valentine's Day, and so on. These events determine the range of products that you will be selling.
It's a good idea to think about how to present them to your clients. These can include in-store promotions, special shelf displays, and pricing strategies.
What is seasonal merchandising?
This is merchandising of a seasonal category of goods. A seasonal product is one that your customers don't buy regularly or throughout the year. These fluctuations in demand depend either on the season or on a specific event - New Year, Christmas, Valentine's Day, Easter, etc.
For example, in winter, pharmacies pay special attention to drugs for colds and flu, and in the spring and summer, the display and promotions will change to drugs for allergies, etc.
You've probably noticed an increase in advertising on television and on the Internet during the seasonal holidays.
All this, combined with in-store signage and thoughtful display of goods, attract customers to special offers and encourage them to buy.
What to look for when selling seasonal items?
As you approach a new season or holiday, there are several important aspects to consider. We are talking about the four main principles of merchandising or integrated marketing. In short, it's about promotion, pricing, placement, and the product itself.
1. Use promotions.
There are several ways to promote seasonal products or categories, whether you are a seller or a supplier. The obvious solution is through advertising.
Build the hype for a new season or event and you have a better chance of attracting more visitors. It is important to complement any outdoor advertising with in-store promotions.
Pay attention to your branding and store signage. Can customers easily find the seasonal products you are promoting in the store?
You can direct and attract the attention of the buyer with signs, posters, stickers, advertising displays. Place them in high traffic areas of sales areas.
2. Set prices according to demand.
Pricing seasonal items can help you understand the market and what you have to offer your customers. When setting prices, consider fluctuations in demand.
For example, early in the season or in the middle of the season, you can raise prices to maximize your benefits. As the season draws to a close, prices can be reduced and offered discounts.
Keep in mind that pricing competitively against the competition does not always mean lower prices. You can put the same price or a little lower. Alternatively, you can combine the price of the two products to add value to the customer at a reasonable price.
Another way is to enter into mutually beneficial deals with suppliers so that you can set adequate prices for products.
3. Optimize the placement of your products.
The space in your store and the way you use it is your best promotion tool. Here we are talking about both the display of goods on the shelves and the occupied space.
Optimizing shelf space and choosing the best placements will ensure high product visibility. It also increases the likelihood that customers will purchase them during the promotion.
In terms of square footage, you can use high-traffic areas to stimulate impulsive purchases that are appropriate for the season or holidays.
4. Stock of seasonal goods.
Analyze the historical sales data and you will find out what was sold in the same period last year. Make sure you have enough top-selling items for the new season.
Having information about the necessary seasonal goods, you can make the necessary stock, and then you will have the best goods at the right time, in the right place, at a price that is favorable to you.
Successfully carrying out seasonal merchandising will help to increase the profit from sales several times.
Prepare for the new season in a comprehensive manner, predict the growth and fall of demand, analyze the past and think over future promotions and sales to increase turnover.