Many retail stores offering high-quality products have a high rate of customer satisfaction. However, a critical part of achieving this success for your retail business depends on your business presentation. If you are remodeling your space, building out a single display or setting up a totally new space, leading edge retail display solutions can help you make maximum use of the available space to hold products, increase brand awareness and encourage customer interaction.
Here are seven factors to take into consideration as you plan and roll out your POP (Point-of-Purchase) displays:
1) Target audience
You will need to determine the type of buyer you are targeting with the display. Often, this information can be gleaned from previous market research. If you do not know this information, it’s important to the effectiveness of your POP display program that you define the target audiences for each display before you proceed with the project.
2) Display specifications
Often, retail establishments accumulate a variety of retail display solutions from multiple vendors. It’s important for the marketing team to have specific guidelines for the style and size of displays. Instead of positioning a mixture of POP displays around the retail space, consider having a theme, which makes the layout seem more organized and clean.
3) Timing retail displays
External factors affect your customers’ buying decisions, including economy, season, or even the time of day. It easy to make a determination that an air conditioner display in the midst of winter may not be the best of retail display solutions considering the time of year.
However, some timing aspects can be more subtle. For example, after a major power outage, hardware store and home improvement centers may keep the display on gas generators prominent over the next year. Work out timing concerns before making your final decisions.
4) Display locations
Similar to real estate, the location of your retail display solutions may represent the single most important element of your program. You may receive acceptable results from locating a display in a specific area such as near the register stack. However, it may be possible to realize even better results by repositioning the display solution in a different location in the store.
It’s important to keep in mind that the most effective area is not the same for all displays. You will also want to consider the role of cross-merchandising when determining the location for retail display solutions.
5) Effectiveness of the program
After you have set up your retail display solutions, analyze the results to determine if the displays are worth the investment. Use hard metrics like customer participation and sales volume. In addition, conduct assessment of soft measurements, such as the attention customers pay to the displays, staff feedback. and third party reviews.
6) Retail display solutions efficiency
A basic cost benefit analysis helps you measure the efficiency of your retail display solutions to determine if the displays are worth the costs. There are a wide variety of metrics that can help you determine your costs:
- Cost per launch
- Cost per store
- Cost per cost per foot of shelf space
You can also look actual cost versus budgeted cost. Any expense directly related to your display program can provide a measurement of the marketing strategy's efficiency.
7) Maintaining freshness
Do not allow your displays to become stagnant. Strive to keep your retail display solutions looking new and fresh by renewing and changing them periodically. Sometimes simply moving a display will rejuvenate it and make it more appealing to the customer eyes.
