It’s well known that product assortment planning is crucial to the success of retail operations. Bringing online assortment in-store is not just about having all of your products available to your customers. It’s about having the right products at the right price point, so you can satisfy your target consumers, while maximizing profit per square feet.
With endless aisle technology and fulfillment services like dropship, retailers can bridge the gap between online and offline. You can choose to carry only strategic items in your store and decide to have other products virtually available. Endless aisle enables you to say ‘yes’ to your customers every time they visit, transforming your store into a retail destination.
How endless aisle will revolutionize your merchandising & product assortment strategies
1. Provide essential metrics that you can’t capture in-store.
Rather than relying on sales data alone, retailers can get metrics that can help them plan product assortment better. Self-serve endless aisle solutions can be equipped with touch analytics that capture information such as the number of touches, product views, and duration of sessions on each location. Having this data, enables retailers to make informed decisions on what to stock.
2. Capture long tail demand
Some luxury or specialty items are strategic items that you must carry in your store. They aren’t flying off the shelves, but they drive your margins and enhance your status as a retail destination.
For example, in the shoe industry, you may carry shoes in basic colors so consumers can still try them on for fit. If they seek special colors or patterns, they can see how it looks on the endless aisle solution and have it shipped to the store or their home.
3. Give a contextual shopping experience that increases basket size.
Self-serve endless aisle can be placed near your new product collections. In a furniture store, for example, you can place the screen in a showroom to provide contextual information, whether it is about fabric, color or configuration options. You can also show all the complement products and accessories that will go well with the room, inspiring shoppers and increasing sales.
4. Customize marketing campaigns and product assortments quickly.
Virtual merchandising that has an intuitive and advanced content management system can reduce cost and help you run marketing campaigns more effectively. It takes time to print the POP materials and change the theme of your store, but it will take just a few minutes to change themes and product assortments on the screen.
An endless aisle solution allows you to capitalize on the best of both worlds – a unique and tailored store environment with the assortment and convenience of online shopping.