A Retail visual merchandising strategy is a division under the retail strategy that focuses on the visuals of grabbing the customer's attention.
A Retail Visual Merchandising strategy template can be used in a range of industries, more specifically within the retail industry such a template can be used by retail merchandisers, Retail Store Manager, Fashion Buyer, Showroom Sales Manager, Product Development Manager, Visual Merchandising Artists, Fashion Marketing, Account Executive, Fashion Coordinator / Director.
Such a template is vital in increasing and maximizing sales by developing the aesthetics of a product or place. By having a strategy template in place, your organisation can have a set plan and steps in place to work towards achieving your end objectives.
A focus area is a viewpoint that groups analytical requirements, more specifically individuals within the retail industry or industries that require the use of retail visual merchandising strategies need clear areas to pinpoint as touchpoints to work on. As such, Cascade's visual merchandising template is structured to clearly have focus areas that organizations can address to have a clear sense of direction towards their vision.
An example of focus areas for a Retail visual merchandising plan could be Customer services and E-commerce optimization.
The next step is to clearly address those focus areas. This is done by implementing strategic objectives. Objectives' main function is identifying what will be achieved if the work is done. Ultimately they provide specific clarity for the organization relating to a specific focus area.
For example, objectives for the Customer service focus area could be ''Identify opportunities to appeal to your target customer' and 'Boost customer engagement'
Objectives aren’t the only component of your strategic plan that can be measured and tracked. An easy way to understand this is by thinking of finding ways to achieve your objectives. This is done by setting measurable targets that are used as indicators to track progress. These can usually be team or individual-orientated.
For instance, some potential KPIs for the Objective of Identify opportunities to appeal to your target customer can be Increase customer retention by 20% and Increase daily foot traffic to 150.
One of the last steps this visual merchandising plan incorporates is the use of projects. Projects are tasks that are completed to allow individuals to track their performance indicators and ultimately see results to achieve their objectives linking to the specific focus area.
Examples of projects within this template are: optimize the customer journey to capture customer touchpoints, Customer input on a visual display, and tailored product suggestions related to search history.
Find out more about what KPIs best link to your organization from Cascades's useful article centralizing on 84 Key performance indicators.