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The Definition of Merchandising

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There are many different definitions of merchandising. Some are broad, others narrow.

Here’s mine: Merchandising is the art of selecting the right products for your store and its customers, and also the science of presenting and marketing those products in a manner most likely to help them sell.

It’s a combination of things that are at the very heart of your business existence — buying smart, selling faster. And being able to repeat that process again and again, season after season, year after year.

Merchandising is about creating a powerful identity for your store through the goods you carry. It’s about combining customer research, your sales data, as well as your own personal experience to determine the right inventory at the right time. (And don’t forget: that process is every bit as much about as what you DON’T buy as what you DO buy.) It’s about forging a powerful relationship with your customers by having jewelry that they love and can afford. (Plus a few aspirational showpieces that your customer might not really be able to afford, but will still dream of anyway.)

Anyway, this is just to let you know that this year’s edition of the SMART Show, will focus on this essential subject.

Don’t miss our event, coming April 5 to 7 at Chicago’s Navy Pier (with a full day of pre-show education on April 4).

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See our education program here, featuring new speakers like Bob Phibbs (author of You Can Compete and The Retail Doctor’s Guide To Growing Your Business) and Edward Swiderski (marketing expert and winner of Season 5 of TV’s Bachelorette reality show).

Or register here.

Bonus! Here’s a great post from Bob Phibbs on 41 things no one told you about starting a retail business.



For daily news, blogs and tips jewelers need, subscribe to our email bulletins here.

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Retiring? Let Wilkerson Do the Heavy Lifting

Retirement can be a great part of life. As Nanji Singadia puts it, “I want to retire and enjoy my life. I’m 78 now and I just want to take a break.” That said, Nanji decided that the best way to move ahead was to contact the experts at Wilkerson. He chose them because he knew that closing a store is a heavy lift. To maximize sales and move on to the next, best chapter of his life, he called Wilkerson—but not before asking his industry friends for their opinion. He found that Wilkerson was the company most recommended and says their professionalism, experience and the homework they did before the launch all helped to make his going out of business sale a success. “Wilkerson were working on the sale a month it took place,” he says. “They did a great job.”

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David Squires

The Definition of Merchandising

Published

on

There are many different definitions of merchandising. Some are broad, others narrow.

Here’s mine: Merchandising is the art of selecting the right products for your store and its customers, and also the science of presenting and marketing those products in a manner most likely to help them sell.

It’s a combination of things that are at the very heart of your business existence — buying smart, selling faster. And being able to repeat that process again and again, season after season, year after year.

Merchandising is about creating a powerful identity for your store through the goods you carry. It’s about combining customer research, your sales data, as well as your own personal experience to determine the right inventory at the right time. (And don’t forget: that process is every bit as much about as what you DON’T buy as what you DO buy.) It’s about forging a powerful relationship with your customers by having jewelry that they love and can afford. (Plus a few aspirational showpieces that your customer might not really be able to afford, but will still dream of anyway.)

Anyway, this is just to let you know that this year’s edition of the SMART Show, will focus on this essential subject.

Advertisement

Don’t miss our event, coming April 5 to 7 at Chicago’s Navy Pier (with a full day of pre-show education on April 4).

See our education program here, featuring new speakers like Bob Phibbs (author of You Can Compete and The Retail Doctor’s Guide To Growing Your Business) and Edward Swiderski (marketing expert and winner of Season 5 of TV’s Bachelorette reality show).

Or register here.

Bonus! Here’s a great post from Bob Phibbs on 41 things no one told you about starting a retail business.



For daily news, blogs and tips jewelers need, subscribe to our email bulletins here.

Advertisement

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var disqus_shortname = ‘instoremag’; // required: replace example with your forum shortname

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Ready to Move? Let Wilkerson Lead the Way

When Brockhaus Jewelry planned their move to a new location in Norman, Oklahoma, owners John Brockhaus and Brad Shipman knew exactly who to call for their moving sale: Wilkerson. "Having worked with Wilkerson before, choosing them again made perfect sense," says Shipman. "And our second partnership was even better than the first." The sale exceeded expectations, thanks to Wilkerson's strategic approach - starting with Brockhaus's existing inventory before carefully supplementing with additional pieces. "They made everything simple," Shipman adds. "From the outstanding consultant to the detailed planning, the entire process was seamless." It's why both partners enthusiastically recommend Wilkerson to fellow jewelers planning a move, remodel, or retirement sale.

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