With a crowded market, it is hard for retailers to differentiate themselves, but effective merchandising has the ability to convert shoppers into buyers and help a business stand out from the competition.
San Francisco, CA (PRWEB) October 09, 2014
Merchandising in online retail is significantly different than in-store, but it is just as important. As the holidays quickly approach, online retailers often scramble to pin point the most effective strategies that will drive conversions, but Wiser's new infographic provides the top merchandising tips to address this issue early in the season.
Online shopping limits the ability to fully experience products before purchasing, but some of the in-store merchandising tactics that have been successful in the past can translate over to online stores in innovative ways. For every 100 people who visit an online store, only 3 make a purchase. Effective merchandising techniques are the answer to this conundrum that affects physical and online stores alike. With a crowded market, it is hard for retailers to differentiate themselves, but merchandising has the ability to convert shoppers into buyers and help a business stand out from the competition.
The ultimate goal of merchandising is to drive conversion rates by simplifying and making the online shopping experience more appealing for the customer. Online retailer Footsmart proved the importance of merchandising when it adjusted search results to include top items sold and saw an 82% improvement in its conversions.
Wiser explains how online retailers can bring the best of all retail channels to the consumer. Multiple clear images and possibly even videos, along with in-depth product descriptions, can emulate the tangibility the customer loses by shopping online. Implementing live chat with knowledgeable employees and providing customer reviews can take the place of salespeople that cannot be present wherever online shoppers happen to be.
Arie Shpanya, an online retail expert and CEO of Wiser, said, “In a world where consumers have a plethora of retailers to choose from, an optimized merchandising strategy is vital for retailers to retain and gain customers. This is especially true during the very competitive and busy holiday season.” Wiser’s infographic highlights some of the top merchandising techniques for retailers seeking to improve their conversion rates, such as making their websites easy to navigate.
To view the full infographic, visit http://www.wiser.com/infographic-merchandising
Wiser provides a complete suite of solutions to give retailers, brands, and manufacturers the edge to stay both competitive and most importantly, profitable.
Wiser’s flagship product is WisePricer, full-featured dynamic pricing and merchandising engine that monitors, analyzes and reprices retail products in real-time. WisePricer enables retailers to boost profit margins and revenue, price with confidence, and improve merchandising through powering the development of a sound pricing strategy.
Wiser also offers a MAP monitoring solution, WiseMapper, for brands and manufacturers to monitor and protect their pricing across the thousands of retailers selling their products.
For more information on Wiser and WisePricer, please visit wiser.com/wisepricer