Tips For Creating an Effective Window Display

thumb205Window displays offer a highly effective way for retail stores to display their garments, accessories and other products. Instead of placing them on shelves and hanging racks, store owners can set up their products in a more realistic manner to which shoppers can relate. And when shoppers see the product in this light, it triggers an innate response that often results in higher sales. But how do you create an effective window display?

Start With a Plan

An effective window display begins with a detailed plan. Ask yourself, what do I hope to accomplish with my display? Perhaps you want to showcase new products, or maybe you want to draw more shoppers into your store (or a combination of the two). You need a clear objective before you begin to actually create your display.

Create a Budget

The next step in creating a window display is to set, and follow a budget. From purchasing mannequins to installing new lighting and fixtures, creating window displays isn’t cheap, nor is it easy. However, you have to think of it as an investment that pays off in the long run. You may not recoup your costs immediately, but it will eventually prove well worth the investment.

The Importance of Lighting and Colors

Colors and lighting play a key role in window displays. You have to remember that shoppers pass by numerous window displays on each shopping trip they take, so it’s up to you to catch their attention. The use of bold colors with ample lighting can help you achieve this, capturing shoppers’ attention  and drawing them into your store. Some lighting ideas to consider using in your window display includes track lighting, wall sconces, floor lamps, and overhead fixtures. Choose a high-powered, adjustable light that allows you to focus the illuminating beam on your display.

Contact Product Vendors

Don’t be afraid to reach out to product vendors for help with your window display. You might be surprised to learn that some product vendors will help you set up displays containing their products for free. After all, it’s in their best interest to push their product. In addition to offering their physical labor and expertise, vendors may also provide your with visual merchandising material such as cardboard cut-outs, signs, promotional banners, etc.

Evaluate

Once you’ve set up your window display, pay close attention to its impact on foot traffic and sales. If you notice a positive change, don’t touch it. If it has a negative impact, try changing some of the elements. Through trial and error, you’ll eventually find the ‘perfect’ display that drives traffic and sales.

If you have any questions at all about up visual merchandising, please give us a call at 800.241.6897 or email us at https://melvinroos.com/contact-us/.

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Key Performance Indicators In Retail Stores

woman with white shirt and neck tie seriesKey performance indicators (abbreviated KPI for short) are used by retail stores and business to increase their revenue. Whether your store sells jewelry, clothing, electronics, pet supplies, or practically any other type of consumer merchandise, chances are it will benefit from the use of KPI. Unfortunately, many retail store owners turn a blind eye to these metrics, focusing strictly on sales. While sales is obviously an important metric, there are other KPIs which shouldn’t be ignored.

Shrink

If you plan on running a retail store, you are going to face shrink. Shrink is defined as the loss of product between the point of manufacture/production and point of sale. Some of the most common forms of shrink in the retail industry include customer theft, employee theft, damaged product, and even lost product. Stores that suffer from a high shrink must raise the prices of their products in an attempt to make up for this loss of revenue.

You can reduce your store’s shrink by focusing on theft prevention. Each year, billions of dollars worth of merchandise is stolen from retail stores, resulting in higher product prices for the consumer. Taking steps to prevent theft, such as installing a video surveillance system, tagging clothes and products, and performing background checks on job applicants, can make a world of difference.

Net Profit

Not to be confused with gross revenue, net profit is another critical KPI used by retail stores. Net profit is defined as a store or business’s total revenue minus their operating expenses. For instance, just because an apparel store sells a pair of jeans for $30 doesn’t mean it earned $30 profit. The store must subtract the actual wholesale cost from the total, as well as overhead expenses, administrative costs, taxed, etc. Gross revenue is also important, although it doesn’t hold the same weight as net profit.

Return on Investment

Arguably, one of the most important KPIs in the retail industry is return on investment (ROI). As the name suggests, this is essentially how much money a store earns on their investment. Going back to the example mentioned above, a pair of jeans that sells for $20 at wholesale and $30 at retail may generate a $10 return on investment for the retail store.

If you have any questions at all about setting up retail merchandising, please give us a call at 800.241.6897 or email us at https://melvinroos.com/contact-us/.

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Choosing The Right Location For a Retail Store

mapOne of the most important steps in launching a new retail store is choosing the right location for it. You can offer the best products at the lowest prices in town, but you won’t succeed unless your store is in the right location. So, how do you choose a location for a retail store or business?

Is It Easy To Find?

Granted, you might save some money on lease by setting up your store in an obscure part of time, but this ultimately come back to haunt you in the long run. A smarter solution is to choose a location that’s visible, easy to find, and contains other retail businesses nearby. You can expect to pay more when leasing premium commercial real estate such as this, but it’s a smart investment that will give your retail store a helpful boost.

What’s The Competition Like?

Another element you should look for when choosing a location for retail store is competition. The presence of other retail stores in the area is a positive sign. Conventional wisdom should lead you to believe that it’s a good location if similar businesses experience success. However, areas crowded with too much competition can prove to be a nightmare for new retail stores. Check both the phone book and online to see how many retail stores are currently active in the area.

Price Comparison Shopping

Profit margins are often narrow for new retail stores, which is why it’s important for owners to shop around before choosing a location. You can call different buildings and shopping centers to request a lease quote. After gathering a dozen or so, narrow the list down even further based on your target demographic.

Research Your Target Demographic

Once you’ve narrowed the location of your retail store to a few possible choices, gather some information on the surrounding demographic to help make your decision. You can also gather data on a particular area by looking at public records. Don’t be afraid to spend some time at the local library researching the area. Educating yourself on the area allows you to make smarter decisions on which location is right for your retail store.

If you have any questions at all about visual merchandising, please give us a call at 800.241.6897 or email us at https://melvinroos.com/contact-us/.

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Tips on How To Use End Caps

5124083606_86f54033ef_zEnd caps are shelving components that either attach or rest against the end of a gondola. Most gondolas only feature shelves on their sides, with the ends being open and void of product. By connecting end caps to it, however, retail store owners can maximize their product real estate, boosting sales while simultaneously promoting a better shopping experience.

Draw Shoppers’ Attention

End caps are only effective if shoppers actually stop to look at them. Since most products are stored and displayed down the aisles, shoppers often overlook this component. So, how do you draw their attention back to your end caps? One solution is to set up a large banner and sign. Assuming it’s brightly colored, it will naturally attract shoppers. Another idea is to contact product manufacturers and distributors to see if they have any visual merchandising material they are willing to share with you. Many companies will gladly send retail stores cardboard cutouts and other promotional material to use in their displays.

Large To Small

A good rule of thumb when setting up end caps is to organize your products based on size, with the tallest products sitting on the highest shelf. This will make it easier for shoppers to spot, which subsequently improves the effectiveness of your end cap. Most end caps work in the same manner as gondolas, featuring adjustable shelves that can be rearranged to fit the product. Take a few minutes to adjust the shelves so it makes the best possible use of the given space. Product space is valuable in the retail industry, so you want to make every inch count.

Which Products Should I Display?

There’s really no easy answer to this question, as it depends on a number of different factors, such as your short/long-term goals, your store’s niche, the time of year, etc. With that said, grocery stores often use end caps to display products that are approaching their expiration date. Rather than allowing these products to turn to shrink, the store owner can push sales by displaying them on end caps. Other stores use end caps to display impulse buy products like candy, energy drinks, snacks, seasonal gifts, etc.

If you have any questions at all about setting up end caps, please give us a call at 800.241.6897 or email us at https://melvinroos.com/contact-us/.

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Maintaining and Caring For a Glass Display Case

Photoxpress_5018563Glass display cases are used in a variety of different businesses and situations. Sports teams frequently use them to show off trophies acquired by athletes, schools also use them for displaying students’ trophies and accolades, and retail stored use glass display cases to show off product to customers in a safe environment. Of course, these are just a few of the many instances where they are used. No matter what you intend on using a glass display case for, you must know how to properly maintain it. Here we’ll take a closer look into the basic maintenance steps required to care for a glass display case.

Watch What You Place On It

One of the biggest mistakes owners make when using their glass display case is placing heavy, abrasive objects on top of it. While it may not initially cause any damage, over time the abrasive surface of the object will slowly scratch the glass. Contrary to what some people may believe, there’s no easy way to remove a scratch from an authentic glass surface. You might be able to buff it out depending on how deep the scratch is, but there’s really your only option other than replacing the glass. To prevent this type of damage from occurring to your display case, it’s recommended that you avoid placing heavy objects on it.

The good news, however, is that glass is waterproof. You can spill drinks and other liquids on it without fear of it damaging. I wouldn’t necessarily advise owners to spill drinks on their display case, but it’s nice to know glass will hold up under the moisture.

Dusting

Like all materials, glass must be occasionally dusted to maintain its elegant and sophisticated appearance. Allowing your glass display case to gather dust will take away from its natural beauty. Another area where authentic glass shines is its ease of dusting. The hard, slick surface of glass requires minimal work to dust. You can either run over your glass display case with a feather duster, or you can wipe it down with a lint-free microfiber cloth. Both of these methods should make easy work of even the dustiest display case.

So, how often should you dust a glass display case? There’s no easy answer to this question, as it depends on the quality of air surrounding it. If you keep the air filter in your home or store changed at least once a month, then you can probably get by with dusting your glass display case once every other week. On the other hand, if the air filter is dirty, your display case will require more frequent dusting.

Glass Cleaner

In addition to dusting, you should also get into the habit of using a glass cleaning product on your display case. Doing so will not only help remove dust and dirt, but it will also give your display case an ultra-shiny and clean appearance. Just give it a good couple of sprays with an ammonia-based glass cleaner followed by wiping it down with a clean paper towel.

If you have any questions at all about setting up a jewelry display, please give us a call at 800.241.6897 or email us at https://melvinroos.com/contact-us/.

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Comparing The Different Types of Retail Wall Fixtures

Photoxpress_2135925Wall fixtures are an excellent way to display products in a retail store without taking up an unnecessary amount of space. Rather than placing large, bulky fixtures directly in the middle of the store, owners can place space-saving fixtures up against the wall to take full advantage of their store’s ‘real estate.’ In turn, this allows store owners and managers to display a greater amount of product while maintaining a clean, customer-friendly environment.

Pegboard

Pegboard is one wall-based display solution that many retail stores and businesses use. Some of the nation’s top grocery store chains use it to display products, but other stores can take advantages of the versatility behind pegboard as well. It’s inexpensive, easy to set up and use, and you rearrange the product to maximize the available space. If a particular product doesn’t fit, just pull the hook out of the pegboard and reposition it in a manner so it does.

Slatwall

While pegboard is one solution for a retail wall fixture, slatwall is another idea. Unlike pegboard, slatwall is produced with more of an emphasis on aesthetics; therefore, it’s a better wall fixture for stores trying to achieve a well designed interior decor. From afar, slatwall looks similar to a sheet of authentic hardwood. Once you inspect it up close, however, you’ll notice there are several horizontal lines running down it. These ‘lines’ allow for the attachment of product display hooks. You simply snap the hook into the horizontal indention and fill it with the appropriate product.

Gridwall

A third solution for retail wall fixtures is gridwall. Some people assume that slatwall and gridwall refer to the same type of fixture, but this isn’t the case. While they share some similar characteristics, there are notable differences between the two. Slatwall is manufactured to mimic the look of hardwood, allowing it to easily blend in to some store’s decor. Gridwall, on the other hand, features a basic metal grid design (hence the name). You can find gridwall available in traditional metallic chrome, white and black colors.

There’s no single ‘best’ solution for retail wall fixtures. Since each and every retail store is unique, you’ll need to identify the needs of your store to determine which one will work the best. Consider the fixture’s ability to display your product along with its effect on the decor. Ideally, you want to choose a fixture that easily holds your product while blending into your store’s color palette and decor.

If you have any questions at all about shelving, please give us a call at 800.241.6897 or email us at https://melvinroos.com/contact-us/.

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Common Pitfalls To Avoid When Starting a Retail Jewelry Business

Rjewelry-01unning a successful jewelry store business isn’t an easy task by any means. Many newcomers to the industry are drawn to it for the large margins and profits. When it’s done right, you can have a long-lasting business that locals know and trust. Unfortunately, though, there are some common mistakes people make when starting a jewelry store that ultimately leads to their demise. To prevent these same mistakes from occurring to you, keep reading for a closer look into common pitfalls of starting a jewelry store.

Pitfall #1 – Not Offering Services

While the majority of your jewelry store’s revenue will come from direct sales, you can increase the amount of money your store brings in by offering various services to customers. If you walk into any major national jewelry store, chances are you’ll see just how many different services they offer. With so many stores taking advantage of this, common sense should tell you that it’s a lucrative venture. Instead of relying solely on sales, you can offer you customers services like ring resizing, laser engraving, jewelry cleaning, gemstone setting, repairs, etc. See what your competitors are doing through a little spying and offer similar services in your store.

Contrary to what some people may believe, you don’t actually need to know how to perform these services. If you aren’t familiar with these services, try hiring someone to come to come in and take care of this part of your business. You can offer them a certain percentage of all repairs done in your store, making it a win-win situation for both you and them.

Pitfall #2 – Not Establishing Customer Relationships

Having strong customer relationships is critical to running a successful jewelry store. If customers don’t know of trust you, they probably won’t come back, which will then result in lower profits and ultimately a failing business. The bottom line is that you need to treat each and every customer who walks in through the doors with respect. Make it a point to greet them with a friendly “hello” and say “good bye” or “have an nice day” when they are leaving.

Strong customer relationships will prove to be one of your most valuable tools as a jewelry store owner, so take full advantage of it when your customers are shopping around. Don’t be afraid to spark up a conversation with them. You more friendly you are with your customers, the stronger the relationship will be.

Pitfall #3 – Poor Pricing

A third pitfall that drags many jewelry stores down is poor pricing. When prices are set too low, you simply aren’t going to make enough profit to continue running a business. On the other hand, pricing your inventory too high will turn customers away. There’s a happy medium that you need to find to turn a profit while keeping your customers happy. Keep your inventory reasonably prices, but not so much that it results in a loss of store profits.

If you have any questions at all about setting up a jewelry display, please give us a call at 800.241.6897 or email us at https://melvinroos.com/contact-us/.

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Gondola vs Traditional Shelving

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Shelving is an essential item that’s necessary for just about any retail store or business. If you plan on selling physical products to customers, you are going to need shelves to display it. One of the decisions you’ll have to make upon starting a retail store is whether to use shelves that are built directly into the walls or gondola shelving. While both of these options will allow you to display products, there are some notable differences between the two that shouldn’t be ignored. Keep reading and we’ll take a closer look at the differences between gondola and traditional built-in store shelving.

Gondola Shelving

Most seasoned and experienced retail store owners will agree that gondola shelving is the best all-around method for storing and displaying products. But what makes them such a popular choice? For starters, gondolas are constructed with easily adjustable shelves designed to fit products of any size. To adjust a shelf on a standard gondola, you simply lift up and pull out. You can then fit the shelf into one of the available notches either lower or higher on the gondola. As a result of these easily adjustable shelves, you’ll be able to fit a greater amount of product throughout your store, maximizing your overall “retail real estate.”

Gondolas can also be easily moved throughout the store, even once they are set up. There are a couple different ways to move a gondola, but the easiest method is to simply slide metal wheels under each end of the unit. Once the wheels are in place, you can then slide the gondola to the desired area in the store. Depending on the size of the gondola, however, you may need a couple extra people on hand to help move it, as some of the larger ones can be quite heavy. Because of their ease of maneuverability, gondolas are the perfect choice for large stores with lots of product to display.

Traditional Shelving

This type of shelving is built directly into the walls and isles without the ability for adjusting. As you can expect, built-in shelving offers less customization offers, making it more difficult to maximize your available store space. Sure, you can store items directly on the shelves, but unfortunately you won’t be able to adjust them to fit the dimensions of your product.

While some stores still prefer traditional built-in shelving, there are far too many benefits associated with gondola shelving. They are easily adjustable, you can move them around, and they are naturally attractive.

I‘s important to first survey the needs of your store or business or determine which type of shelving is right for you. Take into account how many items you’ll need to display and what parts of the store will be used for this purpose. Remember, gondolas provide the added benefit of being able to easily be moved around. If you aren’t happy with their location, slide the wheels underneath them and push them over to a different part of the store.

If you have any questions at all about shelving, please give us a call at 800.241.6897 or email us at https://melvinroos.com/contact-us/.

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Retail Jewelry Store Security and Theft Prevention

Photoxpress_5482646Security and theft prevention are two critical aspects of running a successful retail jewelry store. Overlooking or simply brushing off these aspects will ultimately result in a loss of profits. Far too many store owners believe they are safe from theft due to their location. The truth, however, is that no retail store is completely safe from theft. As an owner, it’s your responsibility to take the necessary actions to reduce the chance of theft in your store. In this post, we’re going to cover some simple and effective techniques for improving store security.

Before you even think about opening a retail jewelry store, you should first consult with an insurance provider. With the price of certain jewelry pieces exceeding into the tens of thousands of dollars, perhaps much more, you can’t run the risk of taking such a hard financial hit. Insuring your most expensive pieces of jewelry will give you the peace of mind knowing that you’ll be reimbursed financially in the event of theft.

Security Cameras

A state-of-the-art security camera system is necessary to help reduce the chance of theft. Just the sight of the security cameras alone is enough to dissuade some potential thieves from lifting items from your store. Don’t just choose any security cameras, though, but instead choose ones that send footage to a remote location, such an external hard drive. Doing so will keep the footage preserved an in tact in the event of a theft.

Also, it’s recommended that you strategically set up your security cameras to cover every square foot of space in your store. Maintaining a full bird’s eye view will make it difficult for customers to steal items without being seen on camera.

Glass Display Cases

Of course, we can’t talk about theft prevention in retail stores without mentioning glass display cases. These incredibly beneficial fixtures offer the perfect way to safely store jewelry in a way that customers can still view it. Although they are useful for a number of different store types, they work exceptionally well for jewelry stores. Glass display cases keep valuable items safely protected behind a sheet of shatter-resistant glass where customers are able to view it.

Another advantage of using glass display cases is their ability to illuminate product. Some of the models you’ll find come with built-in light systems. After plugging it into a standard wall outlet and flipping the switch, the display case will illuminate your jewelry, allowing customers to see intricate details that would otherwise go unnoticed.

Training Your Employees

Training your employees the basics of theft prevention and security is also important. Teach them how to properly store and lock up valuable jewelry items as well as dealing with customers. Leaving cases, safes and vaults unlocked is a bad habit that could result in theft. As a store owner, you must stress the importance of locking up your inventory. This alone will greatly reduce the risk of theft from happening in your store.

If you have any questions at all about setting up a jewelry display, please give us a call at 800.241.6897 or email us at https://melvinroos.com/contact-us/.

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