Are you Properly Managing your Seasonal Merchandise?
Seasonal sales significantly impact profits, so retailers often try to keep their seasonal products on the market for as long as possible. However, it's also important to ensure that seasonal merchandise is planned and executed correctly.
Accurate forecasting of product quantities and timing for promotional displays and other branded point-of-sale materials is essential to avoid negatively impacting the customer experience and, most importantly, sales of different products.
Proper management of seasonal merchandise becomes even more crucial the longer the sales period, as it involves careful coordination between retail space and restocking. A haphazard approach to planning can lead to several issues, such as:
Promotional materials are left in warehouses instead of displayed on the shop floor during marketing campaigns.
Stock products are left in the back room while shelves run out of inventory as the holiday approaches.
Excessive pressure on store operations to perform in-store merchandising tasks during peak times.
These scenarios can result in lost sales due to poor in-store space and stock management or a poor customer experience. To maximize the success of seasonal sales, retailers must analyze, measure, and address these issues as they arise.
One way to do this is to use a crowd of mobile users to assess and improve what's happening on the shop floor. This is the most accurate and efficient way for retailers to completely understand the customer experience in-store.
These mobile users, known as SmartSpotters, can perform small tasks like checking the visibility and availability of specific products in nearby stores. Using advanced mobile technology, data and photos are transmitted in real-time from each store and compiled into live dashboards and reports, allowing managers to make fast and effective decisions.
Spotters can also handle merchandising tasks on demand, such as setting up promotional materials or restocking shelves with missing products. Crowdsourcing these operations benefits retailers, who can utilize an on-demand workforce to ensure the best possible customer experience, especially during seasonal sales, without overloading their internal field resources.