FRIDAY, March 29, 2024
nationthailand

The importance of visual merchandising

The importance of visual merchandising

IN THE MARKETPLACE, high competition has forced businesses to look into every detail for improvement.

For those fashion businesses that need to have distribution channels such as counters and free-standing shops, attractive presentation of the brand is crucial for the success of the business. 
This involves not only having the right product offerings, but also how to present the products at the outlets so that they can better attract more customer visits. 
Visual merchandising (VM) has played an important role in product presentation that can draw attention from target customers.
Good VM can influence customers’ decision-making to buy the product, as compared to an inferior one. It can create a higher chance for the brand to offer more choice to customers. 
The good product with bad VM may not be successful due to the lack of good communication to customers. 
Generally, successful VM depends on a good process starting from the theme of the collection, design, product development, marketing programmes and so on. 
The following are key considerations in VM management.
Complete new product launch – VM can be interesting to customers when the full collection of products is developed completely. 
Some fashion brands cannot present the products for a particular season due to the failure of on-time delivery. For example, for a set of kids’ apparel, lacking the bottom part cannot make the product presentation possible when only the top part is delivered. 
The layout of the outlet – It is necessary to analyse the outlet space so that the whole merchandise can be placed at the right position for the maximum sales opportunity. 
As each area within the total space can contribute different sales productivity, it is necessary to monitor the customer response closely and make necessary adjustments to the VM. 
Budget allocation – From the VM perspective, a proper budget should be allocated so that good VM can be achieved. Without proper investment, the product cannot be arranged in the way that can command attractiveness. 
Good VM does not always mean high-cost, creative ideas are a prerequisite for VM professionals. 
Teamwork and coordination – The success of the VM personnel depends on good teamwork within the organisation, especially among related functions in the front operation; that is, sales, marketing, merchandising and design. 
With effective planning, communication and execution of the whole process, the VM task can be done effectively. 
Standard VM process – In order to maintain the high-quality level of VM, companies need to make sure a standard VM process is in place. It is important for the salespeople at the outlet to understand how to set good VM for the product. 
Guidelines together with proper training can enhance the effectiveness of VM management throughout the company.
Customers expect new things when visiting counters or shops, apart from having new products ready at every season.
Good VM can create the shopping mood that will enhance more sales opportunity. Good VM not only communicates to customers regarding new products, but also enhances the total brand image for long-term success. 
More attention should be given to visual merchandising as part of the key success factors for fashion-retail business. 
 
DR YANYONG THAMMATUCHAREE |is senior vice president, Finance & Accounting, at Central Marketing Group. He can be reached at [email protected]
 

nationthailand