Ask yourself: Are you experiencing a dip in sales at your company?
If so, Cross Merchandising may be the answer to boosting your sales.
There are many techniques in merchandising to attract customers using displays and maximizing sales.
For those who are unfamiliar with the term, it may sound intimidating to try. Creating display areas with multiple types of merchandise is challenging. It involves planning, finding just the right products that work together and possibly re-configuring the display space to accommodate different types of merchandise.
However, the idea of cross merchandising is simple.
Here’s everything you need to know about this effective marketing tactic.
What is Cross Merchandising?
Cross merchandising is a strategy that boosts sales by displaying products that are complimentary to one another together. Today, shoppers are busy, and looking for convenient ways to cut down their shopping time. By displaying products together all in one place, this helps customers to cut their amount of time shopping, while still maintaining your secondary sales.
Typically, the idea is to promote impulse sales and remind customers of something that they want or need that isn’t necessarily on their shopping list.
An example would be displaying graham crackers, marshmallows and chocolate bars together. The customer would make the connection of roasting s’mores over a campfire and would buy all three, instead of just marshmallow for their camping trip. This method reduces customer traffic in aisles, and ensures your customers purchase everything they need all at once.
The Three Top Secret Benefits of Using Cross Merchandising:
1. Gains Customer Attention and Builds Customer Loyalty
Imagine a customer walking by a store entrance and seeing a huge poster saying, “Christmas Gifts For The Entire Family”. This would create a visual in the customer’s mind of a one-stop store to get incredible selections of gifts. This would inspire the customer to approach the store with curiosity and excitement.
Cross merchandising introduces customers to the fact that you offer more than they realize. Customers feel as if you are going the extra mile to add convenience into make their shopping experience easy, making them into loyal returning customers.
2. Increases Impulse Purchases
Cross merchandising links products that are closely related, but belong to different categories. This provides customers with reminders and suggestions of products they would like in addition to the products they already use. This boosts your additional impulse sales. As a result, these impulse sales add up to more overall profits.
3. Adds To Your Marketing Strategy
Marketing and branding are important in business to increase sales and attract customers. Nowadays, markets are competitive and you need to be innovative, to stay ahead of competitors.
Cross-merchandising can provide you with that competitive edge. Cross-merchandising, takes a bit of time and energy to figure out what items in your store are purchased together and creating a display, however it will help you boost your image and sales with minimal investment.
Westmount has a collection of different cross merchandising products that can be easily implemented in a cross merchandising marketing strategy. From independent displays, to shelf add-ons, to cooler displays, we have the right displays for your business.
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