Point of Sale (POS) and visual merchandising are both key aspects of any in-store marketing plan. Working as devices to ensure a specific store or product stands out against others, in today’s crowded marketplace they can really make all the difference.
What do we mean by visual merchandising and POS?
Visual merchandising itself includes all aspects of presenting a store in a specific way to not only draw customers in from the outside, but also to ensure that what is on sale on the inside – is represented on the out, i.e. in shop windows etc. This can include anything from shop layout to lighting, music, packaging, signage and even staff uniforms.
Alternatively, Point of Sale (POS) marketing refers to those efforts that are geared up to increasing the number of conversions, specifically at the point that the sale is made – at the cash register. POS marketing is effective, as your customers are more under pressure, both from a time perspective and being in the presence of a shop worker, meaning that POS advertising can prove to be far more effective than aisle, shelf, or even ‘packvertising’.
The Importance of POS and visual merchandising
It is important that visual merchandising and POS are never taken as a stand-alone activity. This is because the ultimate goal of visual merchandising is to really grab the attention of your customers to guide them in a specific way to drive more specific conversions. POS is simply one part of visual merchandising and one that takes advantage of the time people spend in the checkout line. The three most important attributes of both POS and visual merchandising are outlined below:
Grab your customers’ attention
With it being reported that over 34% of shoppers enter stores today without a predefined list of what they want or need, and with 84% of ALL purchases being decided in store, it is important to understand that your customers are effectively there to be led. This is the first important role of POS and visual merchandising; entice your customers in and grab their attention with specific products. These may be seasonal, promotional or simply everyday products that you want to push, and ones that your customer will likely be attracted by.
Connecting with your customers
It is a commonly known fact in the marketing and sales world, that once you have succeeded in attracting your customers’ attention, you only have 1 measly second to convert this attention into a potential sale. This is POS and visual merchandising’s second vital role: to allow your customer to understand and process their need for your items. This can be achieved with clever packaging, shelf positioning, signage, promotional deals or indeed, POS stands themselves.
Convert your customers and drive sales
This third and final role of both POS and visual merchandising may be obvious, but it is key to all retail environments. Once you have connected with your customers and perhaps even driven an engagement i.e. your customer had picked up an item, with 68% of cart abandonments reported in 2015, you still need to work to ensure you convert to a sale. One sure way to do this is by including special deals, seasonal merchandise or to include cleverly designed POS signage to increase a feeling of urgency within your customers. This not only will instil a certain amount of logical rationale within them, but it will make converting more sense to them.
So there you have it, a brief outline of the importance of POS and visual merchandising. For big and small brands today, where markets have never been as saturated as they are now, both visual merchandising and POS activities are more important than ever. Their successful implementations are the fine line between a business making it and not. They really cannot be ignored.
So what are you waiting for? Get in touch today to discuss the importance and application of both POS and visual merchandising, or to see how we can help you stand out from the crowded competition.