What can retailers do to increase sales per square foot?

1. What can retailers do to increase sales per square foot? 1. Improve the store layout A weak sales per square foot figure could be due to poor utilization of the available retail space. For example, there may be an Omni Channel Retail space that is cluttered with damaged goods or unnecessary equipment. As such, improving store layout by removing the spoiled, inoperative, or unnecessary assets from the retail store could help to increase sales per square foot. Creating an engaging environment inside the store that allows your customers easy and adequate access to well-lit trial rooms, installing clear and informative signage, prices, and way-finding to reduce retail shopper confusion, simplifying display units, and establishing appropriate atmospherics to suit the industry type and customer preferences within that sector are all key components that can lead to increased sales. 2. Improve the planogram of the store A planogram is a schematic drawing or plan for displaying merchandise so as to maximize sales. It can be a diagram or model that indicates the placement of retail products on shelves, as well as the layout for the entire store. Planograms are important for optimizing the visual merchandising for your brand, organizing and tracking an item’s placement on shelves, analyzing retail performance, and identifying the potential reasons for changes in your sales and marketing strategy. When done right, planograms can do wonders for your brand. Combining your planogram with store level sales data, you can use sales numbers to identify high-selling and low-selling products at each store. 3. Carry the latest products Every buyer today is a digital customer with ever-increasing expectations for quality and a hassle-free, unified shopping experience across their digital and in-store activities. An important

2. aspect of this experience is the ready availability of the right products and the right variants of color, size, model, or style/pattern. Stocking up on what sells is a sure-fire way of increasing sales. Additionally, being able to present your entire virtual and warehouse inventory on a single screen to your customers helps avoid lost sales due to stock-out situations at a store. Contrariwise, carrying too much stock of products that are unappealing to customers could lead to poor sales per square foot 4. Invest In Employees Employees are the drivers of sales in a retail store – store employees directly impact customer satisfaction and sales. For example, employees with a strong knowledge of company products are in a better position to cross-sell and up-sell the company’s products. As such, providing employees with adequate training (product knowledge, up-selling and cross-selling tactics, etc.) goes a long way in improving sales per square foot. 5. Invest in the right tech Retail is an industry that never stops moving and must adjust to evolving customer expectations in real-time. Growth projections estimate that by 2023, retail sales will exceed $29.7 trillion worldwide. Modern retail technology is changing everything about shopper expectations and retail operations. The customer journey is becoming increasingly varied and personalized, – customization that shoppers have come to expect. Implementing the right technology solutions enable you to maximize the retail software experience for your customers by offering them a range of benefits such as personalized promotions, endless aisle functionality, Conclusion With the advent of e-commerce, even though consumers can now easily order products of their choice from their phones and have them delivered to their home/preferred locations, the importance of sales per square foot analysis in overall business performance optimization cannot be denied or ignored. It can not only help improve store productivity, but also turn your customers into brand loyalists, leading to higher sales revenues. To Know More Click Below Link https://www.etpgroup.com/