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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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Wilkerson Testimonials

If It’s Time to Consolidate, It’s Time to Call Wilkerson

When Tom Moses decided to close one of the two Moses Jewelers stores in western Pennsylvania, it was time to call in the experts. After reviewing two candidates, Moses, a co-owner of the 72 year-old business, decided to go with Wilkerson. The sale went better than expected. Concerned about running it during the pandemic, Moses says it might have helped the sale. “People wanted to get out, so there was pent-up demand,” he says. “Folks were not traveling so there was disposable income, and we don’t recall a single client commenting to us, feeling uncomfortable. It was busy in here!” And perhaps most importantly, Wilkerson was easy to deal with, he says, and Susan, their personal Wilkerson consultant, was knowledgeable, organized and “really good.” Now, the company can focus on their remaining location — without the hassle of carrying over merchandise that either wouldn’t fit or hadn’t sold. “The decision to hire Wilkerson was a good one,” says Moses.

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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

/* * * CONFIGURATION VARIABLES: EDIT BEFORE PASTING INTO YOUR WEBPAGE * * */
var disqus_shortname = ‘instoremag’; // required: replace example with your forum shortname

/* * * DON’T EDIT BELOW THIS LINE * * */
(function() {
var dsq = document.createElement(‘script’); dsq.type = ‘text/javascript’; dsq.async = true;
dsq.src = ‘http://’ + disqus_shortname + ‘.disqus.com/embed.js’;
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})();

Please enable JavaScript to view the comments powered by Disqus.
blog comments powered by Disqus

Advertisement

SPONSORED VIDEO

Wilkerson Testimonials

If It’s Time to Consolidate, It’s Time to Call Wilkerson

When Tom Moses decided to close one of the two Moses Jewelers stores in western Pennsylvania, it was time to call in the experts. After reviewing two candidates, Moses, a co-owner of the 72 year-old business, decided to go with Wilkerson. The sale went better than expected. Concerned about running it during the pandemic, Moses says it might have helped the sale. “People wanted to get out, so there was pent-up demand,” he says. “Folks were not traveling so there was disposable income, and we don’t recall a single client commenting to us, feeling uncomfortable. It was busy in here!” And perhaps most importantly, Wilkerson was easy to deal with, he says, and Susan, their personal Wilkerson consultant, was knowledgeable, organized and “really good.” Now, the company can focus on their remaining location — without the hassle of carrying over merchandise that either wouldn’t fit or hadn’t sold. “The decision to hire Wilkerson was a good one,” says Moses.

Promoted Headlines

Most Popular