What is a Retail visual merchandising strategy?
A Retail visual merchandising strategy is a division under the retail strategy that focuses on the visuals of grabbing the customer's attention.
What's included in this Retail visual merchandising strategy template?
- Retail visual merchandising Vision Statement
- 4x Retail visual merchandising Values
- 4x Retail visual merchandising Focus Areas
- 12x Retail visual merchandising Objectives
- 14x Retail visual merchandising Projects
- 22x Retail visual merchandising KPIs
Who is this Retail visual merchandising strategy template for?
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.
How is this Retail visual merchandising strategy template relevant to your organization?
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.
1. Define clear examples of your focus area
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.
2. Think about the objectives that could fall under that focus area
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'
3. Set yourself measurable targets (KPIs) to tackle the objective
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.
4. Implement related projects to achieve the retail visual merchandising KPIs
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.
5. Utilize Cascade tools to track and visualize performance
Besides holding yourself accountable through actionable indicators, you can also use the Cascade Dashboard and the widgets available to visually display your KPIs and goals. You can add widgets in the form of tables and charts (just to name a few) and appropriately track your KPI and progress on each widget created, as well as your projects.