How to Boost Sales with Merchandising Technology

There are no absolutes in retailing. (Except for change, of course.) However, there are a few rules of thumb that are good to follow, even if they might seem counter intuitive. We know this because we have extensive experience in conducting shopper research, and have the data to prove it. Based on the virtual store studies we’ve conducted over the years, we've noticed common themes when it comes to what works and what doesn't in merchandising, arrangement and assortment. As you’re planning your next in-store marketing campaign, category decision, or whole store strategy, here are three tips that could help boost sales.

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10 Applications for Virtual Reality Store Simulations

Virtual reality store simulations are cool.  There's no getting around that. But how are brands and retailers really using them? Here are 10 ways virtual store simulations help you understand (& impact) shopper behavior on the path to purchase:

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Want to Increase Basket Size? Make it Easier to Find That First Product

It's a popular adage that when it comes to in-store shopping, customers will purchase more if a store is set up for browsing—triggering new product awareness and impulse buys. We therefore often arrange our stores to highlight unexpected products and drive serendipitous discovery. This strategy might seem sound, but in the latest report by NRF, respondents reported being much more likely to be seeking to buy a certain item (73%) than to just be browsing (27%).

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Retail Trends Aren’t Data: How to Know What’s Best for Your Shoppers

The influx of news surrounding store closings, mergers, buyouts, and the ever-changing needs of consumers can seem overwhelming and confusing. Which trends will turn into long-lasting practices and which will fizzle out? Should stores be shrinking their footprints? Should the same shelf arrangement that works for a Walmart be the same as the arrangement in a Kroger?   There’s no doubt the landscape is changing, and quickly. Instead of constantly trying to play catch up with shifting trends, doesn’t it make more sense to base decisions on what resonates with your specific customer base, right now?

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It's in the Data: Brands & Retailers Can Be Confident in VR

It’s not unusual for people to be a bit leery of the concept of virtual reality. Because it doesn’t yet exist in every household, the technology comes with a bit of a stigma—it’s something futuristic and sounds exciting, but the lack of mass market status means some predict its eventual demise. But those people aren’t thinking outside the box.

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Two Huge Pain Points Every Retailer is Facing [And How MR Can Help Solve Them]

Today’s brick-and-mortar stores are aware that the shopper landscape is no longer straightforward, or stable, or seemingly predictable. Retailers used to control one or two touchpoints when it came to the shopping journey—but technology has flipped that on its head, and put the shopper in the driver’s seat. In-store shopping is still a thing—but it’s just one channel in a cornucopia of buying options.  

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No Risk, All the Reward: Everything You Wanted to Know About Getting to Market Faster with VR

  If you could climb a skyscraper and walk around at the top, without a chance of falling, would you? Or, say there was a way to see into the future to know you won’t need a raincoat at that outdoor concert—would you peek? I’d venture a guess that the answer is yes to both of these scenarios. Right now, most of us don’t climb skyscrapers, and we would probably bring the raincoat if there’s even a small chance of rain. We can’t predict the future, so there’s going to be some risk involved with that uncertainty.

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FDA Guidelines Don’t Have to Spell Disaster

             Image courtesy of fda.gov The evolution in shopping preferences toward organic, health-focused, sustainable and locally-sourced food and products has had a large part in creating the intensely competitive landscape the retail industry finds itself in today. Policy changes from local public health officials and the FDA—such as the recent “soda tax” laws that have gone into effect across the country—reflect society’s demands, but have put even more strain on CPG manufacturers struggling to keep up. Whether it’s a relatively small change or a big statute overhaul, these kinds of evolutionary rule enforcements can wreak havoc on a company’s go-to-market process.

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