If you’re a retailer, you’ve probably given a lot of thought about ways to enhance in-store activity and optimize your store layout for your customer’s experience. Through the use of heatmap analytics, you may have already identified some hot zones in your store where customers gather and spend the most time. The front of the store is another popular place that attracts customers, and you’ve fine-tuned the layout of this area to encourage them to spend more time in your store. It’s a challenge to keep up with in-store performance like marketing, sales and inventory movement in these obviously busy areas, but there’s even more to the store where product positioning is concerned.
Looking Beyond the Hot Zones
Sometimes it’s difficult to tell whether the additional areas in your store, such as end caps, speed bumps, or merchandise outposts, offer products that customers are actually buying. Statistics show that up to 40% of all sales in a store occur in these places. It’s not only a matter of location, the product you place there will also determine whether a customer will buy it.
A best-selling product in one of these areas can sell anywhere from 500% to 1500% better than an unknown product in the same location. With the stakes so high on maximizing product placement, how can you quickly determine whether these areas add value by increasing sales? And are the products located there best-sellers with your customers?
Using Performance Data Analysis to Plan In-Store Activities
The key to finding out how to place top-selling products in an additional layout is to gather and analyze its real-time sales performance data. The BlueBox Places software does this by integrating product location-based data capture with information such as number of units sold and revenue data for actual products.
BlueBox Places then provides recommendations for products that may or may not be selling, as well as where to optimally place those products. Because this analysis happens in real time, you can act on these product placement suggestions immediately. You also can modify your in-store activity planning to focus on specific products that will increase sales in the future.
The insights that data analysis brings to product placement are invaluable. To learn more about how BlueBox Places can help you maximize in-store activities to generate sales, contact us today.