How to design an effective retail store layout in 2020

Transcript: How to convince people to buy in retail so I got a great question front of my youtube viewers love you guys Mayra who wrote in to say what if you work in retail how would I convince people they need an item I work at Armani and I need to sell two to three items per transaction this is a great question and having dealt with a lot of salespeople at I'd malls and in retail outlets I've seen the worst I've seen a few people who do it really well so I wanted to share three quick tips with you on how to sell better in retail number one actually care this might sound crazy for but for some reason nobody actually does this actually care about your customers okay when somebody walks in the door if I'm walking into your Armani store I don't want you just seeing the money in my pocket okay I want you seeing me I want your goal to be when people come into your store your goal is not to sell them anything your goal is to make your customer happy that's a different mindset because too many people come in... See more →

Key quotes:

• "This essentially means that if small business merchants want to increase their sales, they can’t sit waiting in their stores hoping that customers will magically find them."
• "Below we’ve outlined a small business sales funnel — as it relates to retailers — to help you picture and understand how and when to engage your potential customers."
• "SEE ALSO: The Comprehensive Guide to Local Store Marketing Event Marketing: Create an Experience A great way to increase retail sales and introduce your business to new customers is to create an experience that aligns with your brand."
• "The overall goal of this section of the small business sales funnel is simple: Every single person who walks through your doors should spend money in your store."
• "Yes, you’ll never get 100 percent of your visitors to spend, but by providing the best in-store experience possible, you’ll maximize your chances to acquire new customers and boost sales in the process."
• "Customer communication is key to creating a great experience and is integral to learning how to increase sales in retail."

Key quotes:

• "A lack of a good inventory management process means you don’t know where anything is so you can’t sell it."
• "Picking the ones that best apply to your business and its needs will help you build an inventory management system that will keep you organized for years to come."
• "Your POS can be one of your best assets when it comes to managing inventory and pretty much every other part of business."
• "Modern POS software comes with real-time inventory management capabilities that use sales data to consistently keep inventory numbers and key metrics updated."
• "If something is selling really well or it’s an item you need regularly, set up a reorder trigger so that when the stock level of your most popular product drops below a certain amount, your POS sends the signal to order more."
• "A mobile POS (mPOS) can be run on an iPad to make sales, see sales reports, and, yes, manage your inventory from anywhere in the store."

Key quotes:

• "This process can be as specific as selecting the colors of products you want to feature in a merchandising display to as broad as the floorplan of a store."
• "This story should be evident in all of the decisions you make about product selection, store layout, display styling, and many more aspects of your business far beyond the scope of retail merchandising."
• "In general, you’ll want to follow some basic rules: Miscellaneous Tips Throughout your store, you’ll want to apply these tips to create a pleasing shopping experience: With all of this in mind, let’s take a closer look at visual merchandising, a very important subset of your retail merchandising strategy."
• "Keep the Buyer In Mind As with your broader retail merchandising strategy, you’ll want to keep your ideal customer in mind."
• "For example, if you’re displaying a product demo like “4 ways to tie a necktie” that shoppers can interact with, it might make your life easier to provide some simple instructions for tying each of the knots."

Key quotes:

• "(Welcome to our three-part series on the psychology of great retail store interior design."
• "If you’re here and reading this, it’s probably because of one of two reasons: You don’t believe that retail is dying, or you think that it is dying and you’re wondering why anyone would want to build a brick-and-mortar store."
• "According to Sally Augustin, Ph.D., an environmental psychologist and expert on person-centered design, “The color of a wall can actually change how a person perceives the temperature.” For example, warm colors such as yellow, orange, and red can make people think that the room is warmer than it actually is."
• "On the other hand, cool colors such as green, blue, and light purple can make people feel like it’s colder."
• "Take a look at this diagram by Robert Plutchik: While there are general rules that exist about which colors evoke which emotions in people, they are by no means universal."
• "If your product works best as an impulse buy, you ma want to use black, royal blue, or red-orange in your display."

Key quotes:

• "Visual merchandising presents a retailer’s physical store or e-commerce website in an enticing way to attract customers."
• "Let’s look at how timeless design principles impact shopper psychology and drive traffic and sales both in stores and online."
• "Regardless of channel, the narrative must reflect a consistent brand identity and customer-centric care from when shoppers enter the store or site to when they complete a purchase."
• "In-store and online, visibility encourages retailers to feature items that align with a unique narrative and authentic brand image, while helping shoppers easily and quickly find the items they desire."
• "Online, the e-commerce information architecture and sitemap flow help retailers prominently showcase the products that are most likely to sell to prevent the items from being buried deep in the e-commerce site."
• "Timeless tips boost omnichannel sales In the age of speed, the window dressing of visual merchandising is neither fluffy nor trivial — it is a critical business asset that drives retail conversions in stores and on e-commerce websites."

Transcript: The beginning of the build our 12 years we operated on the Ocean City Boardwalk phenomenal town it was the first real real retail location where we really built a business around ever since that point I've grown a business out of that city I'm incredibly honored and excited to be able to build the new store that we're putting up on the Ocean City Boardwalk what I'm even more excited about though in the process of doing that it's taking you along for the ride I want you guys to be a part of the store build out the negotiation the leasing the contractors everything that it takes to be able to go from an idea to a business on the Ocean City Boardwalk I want you to be part of that so what I'm going to do today is I'm going to take you over to the store so you guys get an idea of what this place looks like before we even put a nail in the wall before we hung anything up before we put out any slot wall or redid the floors or any of the stuff that you you've come to know in our... See more →