85% of people have bought a piece of branded merchandise in their life. And of those that haven’t, 43% would consider buying customized items if it was from their favorite brand or influencer.
Any professional knows that merchandise is the foundation of any successful business. You’re missing out on an incredible opportunity if you haven’t yet set up your store’s merch corner! All it takes is a customized mesh-back hat or a branded polo shirt to start your collection and get your name out there.
At a Glance
- Merchandising is the process of effectively marketing and selling products.
- There are five distinct types of merchandising: visual, retail, reset, product, and digital merchandising. Each approach can help you tailor your merchandising strategies to your unique business goals.
- The foundation of merchandising is the four Ps: product, placement, promotion, and pricing.
- An effective merchandising strategy will help boost your brand’s retail equity, industry presence, and customer base.
- Your merchandising strategies should revolve around the products you sell. If you’re looking for a reliable wholesale headwear provider, Double Portion Supply is the hat haven your company needs.
Keep reading to learn more about how to establish an effective merchandising strategy for your business.
See Related: What Is A Snapback Hat?
What Is Merchandising?
Merchandising is the act of presenting, promoting, and selling goods to consumers. This process involves developing marketing strategies, setting competitive pricing, and curating a brand image, among other things.
At its core, merchandising is all about creating a shopping experience that appeals to a target audience. This is what encourages shoppers to buy more. However, it takes more than a cut-and-dry plan and procedure. You need to utilize your creativity and passion in order to set your brand apart from the rest.
Every aspect of merchandising is carefully planned and executed. Now is not the time to cut corners!
There are different types of merchandising. Products can be sold in person or online for wholesale or retail sales. Of course, the specifics are up to you. You need to create a merchandising strategy that enhances your brand image, appeals to your audience, and aligns with your business goals.
Understanding Merchandising
Simply put, merchandising is all about the nitty-gritty of retail sales. It encompasses the provision of goods to end-user consumers. Merchandising involves anything from creating display designs to establishing customer discounts.
It’s crucial not to underestimate the importance of merchandising for your business. Additionally, you can’t expect to take a static approach to this process. Cycles of merchandising are subject to cultures and climates. Over time, your objectives will likely need to adapt to change.
Remember that there’s no such thing as a one-size-fits-all merchandising strategy. It’s important to do your research and create a plan that works for you!
What Is In-Store Merchandising?
Retail merchandising is the way that retailers or brands sell their products in their stores. In-store merchandising involves displaying and selling products in physical locations.
While general merchandising might include product design, online sales, and packaging, in-store merchandising is only about the actual products sitting on the shelves. The goal is to get those items off the shelves and into the hands of the customers!
The 5 Types of Merchandising
Merchandising can be classified into five different types. You can pick the path that would best help you optimize sales. If you’re collecting custom bucket hats for your e-commerce store, you might lean into digital merchandising. If your primary focus is aesthetic product placement, then a visual merchandising approach is your best bet.
But no matter what your goals are, be sure to always buy your apparel items and custom caps in bulk. That’s the best way to streamline the process and give you the free time to focus on growing your empire!
Bonus: 20 Amazing Things That Hawaii Is Known For
Digital Merchandising
Digital merchandising involves the presentation and promotion of products online. It often includes website design and maintenance, product images and descriptions, email campaigns, and social media marketing.
One of the primary goals is to make online product purchases as easy as it can be for customers.
Product Merchandising
Product merchandising is hyper-focused on the actual products and less concerned with other aspects of merchandising. It often involves product placement, arrangement, pricing, packaging, and stock management.
It’s important to highlight the benefits and value of products to potential customers in order to reel them in. Effective product merchandising helps ensure that items are always available and tastefully presented.
Reset Merchandising
Sometimes, items can become boring or dull. That’s where reset merchandising steps into the picture.
This merchandising strategy focuses on redesigning or innovating items so that they can better appeal to the target audience. Sometimes, this involves identifying a new target audience altogether!
Retail Merchandising
Retail merchandising occurs at a third-party location between the product manufacturers and the customers. Retail merchandising efforts help encourage purchases in-store through a cohesive and attractive atmosphere. It often refers to merchandising for in-person retail stores.
Visual Merchandising
This method focuses on creating an aesthetically pleasing store layout or design. Adequate lighting, banners or displays, and overall layout are all essential aspects of this type of merchandising. That’s a great way to attract potential customers!
What Are the 4 P’s of Merchandising?
The P’s of merchandising are core principles that can help guide you to success. They’re important for effectively promotion, marketing, and selling products. Let’s break down each one:
Product
Everything starts with the products you pick. It should go without saying, but you should choose items that you can stand behind. You should believe in the value and quality that they can offer your shoppers!
If you’re looking for customized brand merch, Double Portion Supply can work with you to help you achieve your merchandising goals. We offer hats in bulk and wholesale that you can adorn with your own unique logo or branding. With an unparalleled commitment to quality and lightning-fast shipping times, we make your branded merch or priority!
Promotion
This is the best way to connect with your potential customers and target audience and really get your name out there. Promotion involves advertising, sales promotions, public relations, social media campaigns, and in-store marketing, among other things.
One of the primary goals is to raise awareness and generate interest in your products and brand. The key here is to create meaningful relationships with your target audience. This will encourage them to buy your items over those of your competitors.
Pricing
This might be one of the more boring aspects of merchandising, but it’s necessary nonetheless. Pricing is a critical factor that plays a massive role in the number of sales you’ll get. Competitive pricing helps you stand out from the rest. Discounts and sales are another way to boost sales.
Placement
Sometimes, people overlook the importance of placement. But location is a fundamental aspect of merchandising. Visibility is vital!
Don’t just think about the single shelf where you’ll display your item – think about other places to show it off, like at the beginning of the store and aisle end caps. Don’t forget about signage and display placement, as well.
It all matters more than you know!
Developing an Effective Merchandising System
Merchandising strategies and techniques play a big part in brand recognition and sales. It can also help boost your retail brand equity.
Retail brand equity is the value of a given brand from the perspective of the consumer. Customer experience, perceived values, and other factors can affect retail brand equity. It’s not what the value of your brand actually is, but rather what consumers think it is based on representation in stores.
This is why your store design and product selection are so important! It can boost your retail brand equity, even if the actual value doesn’t increase at all.
You need to be sure that your merchandising strategy accurately reflects your brand. This is how you will develop a strong presence and create a loyal following.
Finding The Perfect Product
Let’s revisit this fundamental aspect of merchandising: products. It’s impossible to overstate the importance of picking the perfect items as your merchandise. After all, this is the foundation of your merchandise. Even if you have an immaculate marketing strategy and gorgeous signage, it won’t mean a thing if your products aren’t any good.
Of course, that goes both ways. Even if you have stunning items on your shelves, it won’t translate to sales if they’re overpriced or under-marketed. You need to find the perfect balance.
If you’re a business owner, content creator, or entrepreneur, don’t underestimate the value of merchandise items. Promotional products can help elevate your brand visibility, drive sales, and boost your client base. The key lies in the products you pick!
Branded Merchandise Items for Your Business
If you’re seeking branded merch to line your store’s shelves (whether they be in-person or online), you can’t go wrong with customized apparel and caps. Not only are they practical, but they’re easy to customize with your brand’s design. When you buy blank caps in bulk from Double Portion Supply, we can embroider each one with your chosen artwork.
At Double Portion Supply, we know a thing or two about promotional products and branded merch. Our mission is to inspire other business owners to reach their maximum potential through beautifully designed products. Not only are our hats made with unparalleled attention to detail and excellent craftsmanship, but we also feature stylish designs that align with modern-day trends.
Feel free to take a look at what we offer and see what stands out to you. We can work with you through every step of the design process, from conception to execution, to ensure that your wholesale order exceeds your standards.
Final Thoughts
Merchandising might seem like a complicated subject at first, especially to those who aren’t particularly experienced with marketing or inventory in a retail setting. Whether you run a humble small business or are a top-ranking executive, it’s important to understand the vast importance of merchandising.
It’s important to create a merchandise collection that reflects your brand and speaks to your audience. It’s not just about boosting sales. It’s also about curating a positive brand image and building a loyal customer base.
Whether you sell customized snapback hats or chic coffee mugs, the products you put out will tell your clients everything they need to know about you and your brand. Need some guidance? Just reach out, and we can help you keep your shelves well-stocked with beautifully branded merch.
Keep Reading: Types Of Hats: 18 Of The Most Popular Styles Throughout History
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Double Portion Supply is the largest snapback superstore in Hawaii. Since 2001, we’ve helped clients across the United States make their creative vision a reality. From wholesale hats to ANXD brand apparel, we carry everything you need to keep your own brand stocked. Plus, our custom services extend to T-shirt printing, so you stay fresh from head to toe. Get all the latest information by following us on Twitter, Facebook, Instagram, and Pinterest.
