Las Vegas, NV—A provider of cloud-based merchandising software for retail, One Door released the results of its annual merchandising survey earlier in the year at NRF 2018. The survey of 250 retailers was conducted with a third-party research firm. It uncovers the key merchandising behaviors of “winners”—retailers that delivered the greatest year-over-year store sales growth.
In the 2017 survey, One Door established a Merchandising Execution Maturity Benchmark. The benchmark tool provides retailers with a way to assess their merchandising practices against their peers—from assortment planning at headquarters to execution and compliance measurement in stores.
This year, to uncover areas where merchandising process transformation can have the most impact, the survey identifies merchandising behaviors as well as practices that have the highest correlation to sales.
“As retailers face new demands fueled by the growth of online and the acceleration of consumer trends, many are struggling to adapt their merchandising practices to keep up,” said E.Y. Snowden, president and CEO of One Door. “This year’s survey reveals a new store-centric merchandising ‘code of conduct’ that retailers can follow to be successful in today’s hypercompetitive industry.”
Moreover, the survey found that 86% of retailers believe there is a direct correlation between proper execution of merchandising directives and an increase in sales conversion rates.
According to the 2018 One Door Merchandising Execution survey, retail winners exhibit the following behaviors as part of merchandising success.
Five Behaviors of Retail Winners: One Door
1. They use accurate digital models of exact store layouts and fixture locations when planning merchandising campaigns.
2. They recognize the link between merchandising execution and sales improvement, then organize, train, operate and incent employees accordingly.
3. They apply data to the entire merchandising process, from assortment planning to compliance measurement.
4. They communicate more frequently and also encourage two-way store communication as a critical part of the merchandising process. 90% of winners encourage direct feedback.
5. They employ digital tools to streamline as well as automate manual operations in all facets of merchandising execution.
To read the full survey report, visit info.onedoor.com/MX-survey-brief.