[dropcap]T[/dropcap]hese are turbulent times, and there is no going around the fact that COVID 19 has most of us stuck at home. Keeping this in mind, it begs the question.
“ What do people do while they’re home, alone, and bored? “
The answer is they browse, and in particular, they tend to browse eCommerce stores. Others are spending their global pandemic induced vacation working on projects, or simply improving their living space. With Nigeria set to be hit with another lockdown pretty soon, forging iron while still hot is essential.
In this article, we’re going to cover how proper merchandising can help you increase sales, ROI, and your eCommerce store’s performance.
The Expansion of eCommerce
eCommerce stores have been around for a while, and they’re reaching new heights each day. While eCommerce stores have been steadily increasing in popularity even before the pandemic – there is no going around the fact that the epidemic has boosted their demand.
Lockdown or not, you simply can’t set the security, ease, and at times, affordability of eCommerce goods aside. Some platforms, such as Amazon, are providing people with essential products.
In short, eCommerce websites are here to stay and have cemented their place in consumers’ hearts considerably during the pandemic. They’re here to stay, and after the lockdown is over, their success is not likely to take a hit, unless they make a mistake.
What is Merchandising?
Have you ever thought about how eCommerce websites sell the products they like? Amazon has its very own brand, and so does any major store out there. Driving the sales of your products is a superb way to augment your overall income significantly.
Take engine oil as an example. Amazon brand engine oil costs only a fraction of the price of larger competitors such as Valvoline or Mobil 1 but performs equally. All these manufacturers sell on Amazon’s eCommerce platform – but how does Amazon drive people to their products.
Well, there are many factors which go into the popularity of an item, such as:
- Brand recognition
- Cost
- Performance
- Reviews
- Merchandising
Merchandising is the process of presenting, promotion, and centering around a particular product. It’s one of the cornerstones of sales, and the world of eCommerce has revolutionized it.
Ecommerce websites feature the products they want to sell on their pages, with additional discounts and focus points. Retail merchandising through Instant Search suggestions are also a viable option.
In short, merchandising is just a keen process of suggestion. Corporations suggest the item and present it so that it becomes a viable option for consumer purchase.
Merchandising Optimization
If you want to make sure your product sells, you’ll have to do some prerequisite merchandising. As eCommerce stores are continually evolving and their user base is growing – merchandising is experiencing a marginal change as well.
While there are many methodologies behind merchandising in eCommerce stores, there are a couple of ground rules that aid the optimization process.
Some of the most popular ways you can aid your merchandising efforts are:
1. Product grouping/bundling
Through grouping products, you’re going to give the consumer the bundle options for their proposed purchasing purpose.
2. Social Commerce
Step into the world of social commerce, approaching the customers through social media.
3. Optimize layouts
When you’re selling a product, you want to make the layout as inviting as possible.
4. Do customer research
If you want to merchandise properly, you’ll want to know everything about your target demographic.
5. Make your presentation good looking
Humans are visual creatures. Making your product more visually appealing is going to attract customers.
6. Time your sales
Some products are going to sell like hot cakes in particular time frames. Make sure to time them correctly.
7. Suggestive merchandising
Give your customers suggestions based on their viewing habits, previous purchases, and favorites lists.
Automation and Merchandising
In the world of visual merchandising on the eCommerce landscape, automation is one of the essential parts.
That is ultimately good for business and is best done through sophisticated automation software. Including advanced AI software to help automate your merchandising efforts based upon a multitude of factors will:
- Help your merchandising efforts
- Streamline business operations
- Cut down on employee costs
- Drive sales
- Focus on particular products
- Garner more customer data
Automation will completely change the way you merchandise your products. It will help you visually merchandise particular items – it will be a cost-effective way to streamline your business operations.
Final Thoughts
The world of eCommerce is rising by the day, and Nigeria is one of the places yet to reach its full potential. If you’re a Nigerian businessman looking to get into the world of eCommerce and Merchandising, there is no time like today to do so.
Nigeria is a great place for business – and eCommerce is a great business model to try out.
