How to improve your retail merchandising strategy with Asana

Ryan TronierRyan Tronier
September 28th, 2024
8 min read
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How to improve your retail merchandising strategy with Asana
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Summary

Successful retail merchandising relies on teamwork and clear communication. Work management helps your retail team stay organized by assigning tasks, setting deadlines, and tracking progress in real-time. This lets you focus on improving the customer experience and boosting sales.

Ever wonder why some retail stores just get it right every time? You walk in, and everything from the product displays to the store layout feels inviting and well thought out. That's not by chance—it comes from a deliberate retail merchandising strategy. One that improves the in-store experience and ultimately drives sales.

But here's the challenge: Coordinating retail merchandising plans is like trying to solve a complex puzzle. You need to showcase new products, manage inventory, and create visual displays like window and storefront signs. Not to mention coordinating with your product merchandising team to make sure every piece fits perfectly.

Imagine you're gearing up for a big seasonal promotion—say, a summer sale. You've got a lot of moving parts. You need to update the planogram and set up in-store displays. You also need to align your ecommerce site and promote on social media.

Missing even one piece can throw off the whole campaign. That's where Asana comes in. It helps you put all these puzzle pieces together. This way, you miss nothing, and your retail merchandising strategy runs smoothly.

What is merchandising?

At its core, merchandising is all about presenting products in a way that entices customers to make a purchase. It's both an art and science. You need to choose the right products, place them strategically, and create an environment that enriches the shopping experience. In retail businesses, effective merchandising can turn casual browsers into buyers and boost overall retail sales.

Key elements of successful merchandising include product placement, attractive displays, and compelling promotions. It's like assembling a puzzle. Each piece—from the store layout to the eye-catching signage—must fit perfectly to create a complete picture that resonates with your target audience.

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What is retail merchandising?

Retail merchandising takes these general merchandising principles and applies them specifically to the retail environment. It includes everything from deciding which new products to stock to determining how you display them in your retail store. The goal is to maximize in-store appeal and encourage purchases, in turn increasing your bottom line.

How smart retail merchandising drives business growth

A smart retail merchandising strategy can significantly boost your business growth. Think back to the summer sale example we mentioned earlier. When all the pieces—like inventory management, visual merchandising, and strategic pricing—come together, they create an engaging shopping experience that keeps customers coming back.

On the flip side, poor retail merchandising can lead to missed opportunities and even drive customers away. Cluttered product displays, inconsistent product placement, or outdated signage can negatively impact sales and tarnish your brand's image. It's like a puzzle with missing pieces; the incomplete picture fails to capture attention or inspire action.

What are the key components of a successful retail merchandising strategy?

Creating an effective merchandising strategy involves several main components:

  • Customer profiles: Understanding your target customers is the first piece of the puzzle. Know their preferences, shopping habits, and what drives their purchasing decisions.

  • Product selection and assortment: Choose the right mix of SKUs to meet customer needs. This includes both staple items and exciting new products that keep your offerings fresh.

  • Store layout and design: A well-thought-out store layout guides customers through your space, highlighting key areas like endcaps and checkout zones.

  • Visual merchandising: Use engaging visual merchandising techniques like window displays, interactive product displays, and appealing signage to attract attention.

  • Pricing strategy: Set competitive prices that offer value to customers while maintaining healthy margins.

  • Inventory management: Keep track of inventory levels to ensure popular items are always in stock, preventing lost sales.

  • Cross-channel consistency: Maintain a consistent experience across all channels, from your brick-and-mortar stores to your e-commerce platforms.

  • Performance tracking: Use retail analytics and merchandising software to monitor sales performance and make data-driven decisions.

By focusing on these components and making certain they fit together seamlessly, you can create an in-store merchandising strategy that not only meets but exceeds your business goals.

How to create an effective retail merchandising strategy

Creating a solid retail merchandising strategy is necessary for the success of any promotional event, like our big summer sale. Let's explore how to put all the pieces together to make your merchandising plans not just effective but outstanding.

1. Define your retail merchandising objectives

Start by defining what success looks like for your promotional event. Are you aiming to increase sales, drive foot traffic, or improve brand awareness? Establish clear objectives that will guide every step of your strategy.

Example: For your summer sale, the objective might be to increase sales of seasonal items by 20%. This goal will inform your promotional efforts, store layout, and inventory planning.

2. Establish a retail merchandising calendar

Once your goals are in place, it's time to map out the logistics with a merchandising calendar. Think of it as the game plan for your summer sale. This calendar should include all your promotional timelines, deadlines, and key milestones. Planning ahead helps ensure that all teams work well together. This includes teams from marketing and store operations.

Example: Your calendar might highlight when to update the store layout to feature new products for the sale, schedule social media promotions, or set deadlines for creating intriguing in-store displays and storefront window displays. It keeps everyone aligned and helps prevent last-minute scrambles that can affect customer satisfaction.

A well-planned calendar also aids in balancing both in-store and e-commerce promotions. It keeps your retail store and online platforms synchronized, providing a consistent, omnichannel experience that can significantly increase sales.

3. Use retail analytics to improve decision making

Next up is leveraging retail analytics to make smarter decisions. Your retail merchandising strategy will be far more effective when you have data about customer behavior, product performance, and sales trends.

Retail analytics software can track which items are hot sellers during your summer sale and which ones might need a promotional push.

Example: If data shows that swimwear is flying off the shelves, you can adjust your inventory replenishment to meet demand and avoid stockouts. Conversely, if sunglasses aren't performing well, you might reposition them in the store layout or feature them in special promotions.

Analytics also help you understand how customers navigate your retail space. Are they spending more time near the fitting rooms or the endcaps? Retail analytics helps you optimize product placement and create more engaging merchandising displays. This data-driven approach makes sure your efforts are not just based on hunches but on real customer interactions.

4. Choose the right retail merchandising tools

Finally, let's talk about the tools that make all this possible. Selecting the right merchandising tools and software is essential for implementing your strategy effectively. Asana’s work management tools can be a game-changer.

Example: With Asana, you can assign tasks to store managers, set deadlines for in-store display changes, and track the success of your summer sale in real-time. This ensures your strategy stays on track.

When choosing retail merchandising software, consider how they align with your specific retail goals and operational needs. Do you need features that help with supply chain coordination or ones that facilitate social media scheduling? The right retail merchandising services should encourage collaboration, improve efficiency, and ultimately help you drive sales during your summer sale and beyond.

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How Asana improves retail merchandising

When it comes to orchestrating a major event like seasonal promotions or a Black Friday sale, coordination is everything. This is where Asana steps in with work management tools that streamline every aspect of your retail merchandising strategy.

1. Managing merchandising calendars with Asana

Asana helps your team create and manage detailed merchandising calendars with clear deadlines, milestones, and timelines. You can schedule tasks for updating in-store displays, launching social media campaigns, and adjusting inventory levels to meet the anticipated demand.

By keeping everyone informed, Asana reduces last-minute rushes and minimizes the risk of oversights. The result? A smoother execution that improves the customer experience and increases sales during one of the busiest shopping days of the year.

2. Organizing retail merchandising assets

Your summer sale involves a variety of assets—product images, promotional materials, planograms, retail display copy, and store layout designs. While Asana isn't a full-fledged Digital Asset Management (DAM) system, it does allow you to organize and link these assets directly within tasks and projects. This means your team can easily access the latest versions of signage, product displays, and other important files.

Having all assets in one accessible place ensures consistency across all your retail locations. Whether it's updating an endcap display or rolling out new window displays, your team can execute with confidence, knowing they're working with the most current materials.

3. Creating feedback loops

Asana's comment and feedback features make it easy to address issues as they arise. For instance, if a store manager notices that a retail product isn't attracting enough attention, they can comment directly on the task, alerting the team in real-time. This immediate feedback allows for quick adjustments, such as tweaking the visual merchandising elements or rearranging product placement.

4. Coordinating cross-departmental tasks

One of the biggest challenges during major promotions is making sure all departments—buying, marketing, and store operations—are working together. Asana links tasks and sets deadlines across teams, which reduces the risk of one department holding up others.

Example: Your retail management team can update inventory-related tasks to maintain sufficient stock of high-demand SKUs. Simultaneously, the marketing team can schedule social media posts and email campaigns, while store operations prepare the retail space for increased foot traffic.

Implementing a successful merchandising strategy with Asana

Because Asana makes it simple to manage tasks, teams, and deadlines, it makes retail merchandising strategies easier to implement.

To get the most out of Asana for your retail merchandising, consider these best practices:

  • Create clear task assignments: Assign specific tasks to team members with clear deadlines to keep everyone accountable.

  • Use customizable templates: Use or create project templates for recurring events like Black Friday or seasonal promotions to save time.

  • Integrate with other tools: Connect Asana with other tools like your retail analytics software or inventory management systems for a seamless workflow.

  • Regular updates and check-ins: Encourage team members to update tasks and comment regularly to keep everyone informed about progress and potential issues.

  • Customize views: Use Asana's various views—list, board, calendar—to visualize your merchandising plan in the way that suits your team best.

Real-world examples of merchandising success with Asana

Many leading retailers and brands have used Asana to streamline their merchandising workflows and marketing strategies. Here are a few of the most notable use cases.

  • Givenchy Fragrance coordinated global product launches and synchronized efforts across international teams.

  • Parfums Christian Dior improved collaboration between marketing and retail teams to improve in-store experiences.

  • Kendo managed complex projects involving multiple brands and product lines to ensure timely market releases.

  • Gorjana streamlined retail and wholesale operations and improved efficiency and communication company-wide.

  • Benefit Cosmetics centralized their project management strategy to better coordinate promotional events and product launches.

By adopting similar strategies, both small businesses and corporations can achieve greater efficiency and improve their retail merchandising efforts.

Transform your retail merchandising today

Ready to take your retail merchandising to the next level? Asana can help you streamline every part of your merchandising efforts. Whether you're planning a summer sale or setting up in-store displays, Asana helps you coordinate tasks. It also helps you manage inventory levels and improve the customer experience.

Asana offers features that support real-time collaboration, asset organization, and cross-team coordination. No more last-minute rushes or miscommunications. Just smooth workflows that drive sales and boost customer satisfaction.

Don't let disorganized processes hold your retail business back. See how Asana can transform your merchandising strategy. Explore Asana today and experience the difference.

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FAQ: Retail merchandising

Why is retail merchandising important?

Retail merchandising is important because it affects how customers see your retail store and products. Good merchandising attracts shoppers, improves the in-store experience, and helps increase sales. It's about showing products in a way that appeals to your target audience and encourages them to buy.

What does a retail merchandiser do?

A retail merchandiser plans and implements strategies to promote different products and maximize sales. This includes arranging product displays, managing inventory levels, updating planograms, and working with marketing teams on promotions and signage. They optimize the store layout so that it improves the customer experience.

What's the difference between visual merchandising and retail merchandising?

Visual merchandising focuses on how retailers present products. This includes window displays, in-store displays, and the overall store atmosphere. Retail merchandising covers a broader range, including product selection, pricing, inventory management, and promotional planning. Visual merchandising is a part of the overall retail merchandising strategy.

What should an in-store merchandising plan include?

An effective in-store merchandising plan should include:

  • Strategies for product placement to highlight key items.

  • Detailed store layout and planograms.

  • Visual merchandising elements like signage and endcap displays.

  • Inventory management plans to maintain optimal inventory levels.

  • A schedule for merchandising resets and updates.

  • Coordination with marketing for promotions and social media efforts.

  • Guidelines to guarantee consistency across different retail locations.

How does retail merchandising affect sales?

Retail merchandising directly influences sales by affecting how customers shop. Effective merchandising makes it easier for customers to find and want products, leading to more purchases. Elements like attractive product displays, strategic product placement, and engaging in-store experiences can significantly increase retail sales. Poor merchandising can turn customers away, which leads to lost sales and customers.

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