In the current retail store layout planning landscape, the consumer's point of view must be integrated into the store experience to generate sales. Retail space design and navigation directly influence customer satisfaction, loyalty, and sales. This store format at times is laid down according to the convenience of retailers, mainly focusing on business efficiencies and space management rather than providing experience for the shopper, This misalignment can lead to poor sales performance and potential store closures.
In retail, when they design around the needs and behaviors of consumers, they start seeing improvements in the customer experience and loyalty, which subsequently translates into better sales performance. It is a very visual customer journey, from entry into the store to the point of product selection. This is where strategic shelf usage, product placement, and store layout design become critical. So, consumer psychology is very much part of the design process, and hence it's very important to partner with a service provider that delivers effective and intuitive store layouts and planograms.
Approximately 70% of purchase decisions occur in-store, with 38% of unplanned purchases driven by point-of-purchase displays. Brick-and-mortar stores still lead in shopping preference among consumers even as e-commerce accounts for just 14% of all sales. Nearly 46% of consumers still prefer in-person shopping, and 90% are more likely to return after a positive in-store experience. Additionally, 61% of consumers will spend more at a store that gives them a great experience.
In getting shoppers in a store and finally checking them out, the best action one can take is planning with the use of effective applications of key principles of a good planogram. Placement, such as how high a product sits on a shelf, influences sales—but other factors like brand and need also drive purchases. How their needs are met product and brand popularity.
- Grouping of products along quality or price range
- Cross-selling opportunities via complementary products
- Eye-tracking to guide attention towards key areas
- Seasonal promotion and product visibility
Planograms are the most valuable tools that retailers may use to optimize their retail space and make smart merchandising decisions. Some of the benefits using planograms include:
Higher success rates in product placement techniques and new launches, with reduced marketing expenses and quicker distribution
- Product and brand performance insights allow retailers to alter strategies to maximize profitability
- Optimal inventory management helps reduce costs and respond to the demand of consumers
- Real-time consumer feedback on packaging, pricing, and promotions
- An attractive and efficient shopping experience increases customer satisfaction and loyalty
- A consistent brand image and marketing message that minimizes customer confusion
Improved return on investment through better space utilization, better product assortment and space allocation, and more significant relationships with partners
Designing planograms involves both creative and analytical approaches. For brick-and-mortar retailers, the fight is not only against the direct competition but also against e-commerce players. So, every square foot of space matters. With the growing price of retail real estate, retailers must balance carrying high-end products for higher-income consumers with offering cheaper options for budget-conscious customers. With the ability to guide the consumer to the right product at the right time, retailers will increase sales, improve profitability, and enhance customer engagement. It is a creative, efficient, and data-driven planogram that will make retailing both successful and profitable. Join hands with One Point One Solutions to improve your retail experience.
Optimizing your store layout and planogram design is probably one of the most vital factors that can drive sales while enhancing In-store customer experience. One Point One Solutions delivers intuitive data-driven planogram designs and strategies that will help you make the most out of your retail space. Contact us to enhance your retail performance and maximize profitability.
Contact us today for a free consultation and find out how we can help you optimize your retail space for success!
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