It is no secret that today’s retail stores are more competitive than ever. In a study, it has been said that 20-40% of shoppers moved online during the pandemic’s peak. That is why managing or opening a store is not an easy task nowadays. It requires proper planning and execution to enhance the customer’s shopping experience. It can be done with planogram software. Planogram is a visual merchandising tool, that helps retailers in managing a new store, by efficient shelf planning. Other than that, one important factor that should be considered is store operation, which will be very challenging if you do not have the necessary elements.

What are Store Operations?

It includes managing various elements like store location, store layout, type of inventory to be stocked, pricing and promotion of inventory, shopper experience and more. These elements are critical for a retail store’s success. Even if you have the right inventory to meet the target audience or have the right store layout to entice shoppers, but if your store is not in the right location, everything will fail. So, the following are some retail elements in detail: 

• Choose the right location: When it comes to retail, choosing the right location for your store is the first element to be considered. It is not easy to find a location that draws a lot of foot traffic into your store. Instead, there are many factors to consider, like the type of inventory you plan to sell and the target market. If you are planning a kid's apparel store, you can locate it in large shopping malls, where both the kids and parents come together. Also, you can place different category-specific items such as matching shoes and socks or cute toys along with clothing.
• Choose and manage inventory effectively: Now that you have chosen the location, the next step is the type of inventory you want to stock. When choosing the right type of merchandise for your store, you should also consider how you will execute such items in a way that encourages the shoppers to purchase. Choosing the wrong fixture for products can negatively affect your sales. Make sure to place items at eye level with planogram retail displays and custom fixtures. For instance, if you want to entice your shoppers with the entire store, horizontal merchandising will be more appropriate for better sales. When considering managing the inventory, ensure that there is a balance between your store and shelf space.
• Improve store layout design: Nowadays, shoppers demand a lot for the items they use and love. One way to achieve this is to design a store layout that captures the attention of shoppers. This helps to influence customer’s’ behavior by designing the store’s flow, merchandise placement and ambiance to boost sales. One benefit of the store layout is that it provides optimum space for each brand based on its selling potential and shopper demand. Therefore, if a specific area is lacking in sales, retailers can figure out merchandise to attract shoppers. For instance, a high-priced mobile phone can be placed alongside low-priced accessories. By doing this, the high-priced items will be allotted more space, while low-priced items will be stacked on shelves next to each other. This has the chance to increase the sales of both items effectively.
• Collect retail data for better decision-making: In retail stores, retailers must consider how to present items on store shelves, which is more exposed to customers. It can be done rightly by analyzing planogram reports. This encourages shoppers to purchase items efficiently. This helps to take better decisions in executing different category-wise items together wisely.

Overview of Nexgen POG

Nexgen POG is a robust and user-friendly cloud-based visual merchandising tool. It is designed for quick and efficient planogramming with minimal effort. Planograms can be designed by easily dragging and dropping the products. The multi-device compatibility feature of POG allows you to obtain, share and edit planograms on any device, including your phone. It helps in designing store-specific planograms for increased product visibility and sales.

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