cross-mer•chan•dis•ing [kraws mur-chuhn-dahy-zing] the practice of marketing, or displaying products from different categories (or store departments) together, •,n order to generate additional revenue, known sometimes as add-on sales You are probably familiar with cross-merchandising in your physical store. You create beautiful displays, draping your quilts over an old dresser near the fabric collection. You put…Click to read more >
Social Merchandising
so•cial mer,chan•dis•ing \so-shl\ mur-chuhn-dahy-zing Whereas marketing is focused more on brand image, customer engagement, and promotions, merchandising is focused more directly trying to convert browsers into buyers. This includes deciding what customers want, often by asking the social network, and deciding how to position products to the social network. Merchandising Isn’t Enough Just when…Click to read more >
Profiting from Panels
Would you like to have a product in your store that was precut and so irresistible that your customers just had to have one … or more? What if that item was priced between $8 and $12? Could it be that you already have the merchandise but your customers can’t see it and don’t know…Click to read more >
SWOT Analysis
A SWOT analysis (alternatively SWOT Matrix) is a structured planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a business or project. A SWOT analysis can be carried out for a business, product, program, place, industry, or person. It involves specifying the objective of the business venture or project and identifying…Click to read more >
Increasing Traffic to Your Website
In previous articles, I’ve talked about how to improve your website so people will want to stay awhile and shop; we’ve covered website merchandising, cross merchandising, social merchandising, creating value, and how to manage your reputation so your customers will return again and again. Let’s back up a bit now and think about what we…Click to read more >
Increasing Your Online Value
Higher sales and more customers – everyone wants this! To achieve this in our stores, we create enticing displays, start new programs, make samples, hold classes and demos, offer solutions, create great customer service, and collect customer testimonials! In order to get higher sales and more customers online, we need to figure out how to…Click to read more >
Do You Know What Your Customers Are Saying About You?
Reputation is Everything Get Feedback Take a look at your business brand identity. What do you want to be known for? Are you fulfilling the mission statement for your brand? If you are using social media or are merely curious about what your customers are saying about you, here are some ways to find out:…Click to read more >
Just Be Consistent – The Importance of Product Names and Images
Access to quality images and accurate product names is vital for online retailers for two reasons: we must be able to quickly load products onto our websites and it greatly increases the chance that these products can be readily found by and sold to customers who are looking for them. The bottom line is this:…Click to read more >
Turn Old Inventory Into Cash Using Vendor Archives
We’ve heard about the importance of keeping inventory fresh time and time again. We know that any trendy fabric more than a year old should be should be marked down and cleared out. But what happens if you mark down those older fabrics and they still don’t move? How do you possibly get it sold…Click to read more >
Converting Transactions Into Long-Term Customer Relationships
Whether you’re a brick-and-mortar shop or an online store, you spend a good deal of time on PR, advertising, shop hops, classes, and special events designed to get people through your physical or virtual doors. Previous Panning for Gold columns have discussed how to attract people to your website, how to merchandise online, and how…Click to read more >