Merchandise Mix in Fashion Retail Industry

Samiksha Chougule
Department of Textiles (Fashion Technology)
DKTE’S Textile & Engineering Institute, Ichalkaranji, India
Intern at Textile Learner
Email: samikshachougule231216@gmail.com

Introduction:
The term merchandise mix is essentially the product assortment at retail store offers. It refers to the breadth and depth of the products given retail store carries on a regular basis.

It’s not always easy among to find the products a good store could choose.

How Mix Merchandise Impacts in Fashion Retail Industry?
A store that carries an excessive amount of different products may lack focus, which could confuse customers. Customers are aware that Walmart offers a wide variety of goods, but it would be unusual if your shoe business started carrying tires and flowers. Additionally, shops that specialize in a certain category of goods, like shoe shops, are frequently perceived as having product knowledge in such cases balance between all type of product category and products. That being said, a store faces the danger of being eclipsed by rivals with better inventories if its merchandise assortment is too small or constrained. In the case of shoes, a customer might decide to purchase them from a department store like Macy’s where they can also purchase the dress, jewelry, and cosmetics to match with them.

Therefore can a store decide which products to sell and which might be better off being left out of the mix? There are a few important indicators to think about.

Factors included in merchandise mix are as follows:

Merchandise presentation
Signage’s
Display areas (Window, focal points & cluster)
Promotion

a) Merchandise presentation:
Presentation of the goods. In the visual experience, harmony is something that is aesthetically attractive. Engages the spectator and produces a balance and inner sense of order in the picture experience. There are fundamental ways to properly depict the product.

1. Shelving:
Retail shelving is also known as shop shelving or store shelving. It consists of numerous display units, store fittings. Retailers and suppliers use the space on these various shelves and fixtures to showcase their merchandise so that customers can find and purchase it. Aside from maximizing your store space, you would use your shelves and retail displays to exhibit your products in a way that leads to higher profitability. This enhanced profitability applies to both your products and the product lines in your stores.

When used effectively, retail shelves can also help you avoid wasting space. You can squander shelf space if you overstock one item while understocking another.

2. Folding:
Folded clothing appears more professional and takes up less room, allowing you to stock more items on show room folded sweaters or slacks could be displayed on our cherry display table set, allowing shoppers to browse the items at a comfortable sight level. At the end of the day, you may have to refold some of the items that shoppers picked up and returned, but many shops consider this a small price to pay for ease and beauty. Folded clothing appears more professional and takes up less room, allowing you to stock more items on your show floor. Folded sweaters or slacks could be displayed on our cherry display table set, allowing shoppers to browse the items at a comfortable sight level. At the end of the day, you may have to refold some of the items that shoppers picked up and returned, but many shops consider this a small price to pay for ease and beauty.

3. Hanging:
Clothing on a hanging rack, such as our raw steel rolling rack, is very easy for the buyer to see, feel, and examine without overwhelming your display. A rack is the best solution for jackets, blazers, and gowns since it prevents wrinkles and creases. Some materials, such as wool, should never be displayed on a rack, according to Jack Threads, It is determined by your merchandise, store size and layout, and your individual design sensibility. A tiny business selling women’s clothing might put t-shirts, slacks, and sweaters on a black table set and hang gowns and blouses on a fleur-de-lis rolling rack

b) Signage’s:
Signage is any visual depiction that informs customers about a store, any office, building, street, park, and so on. Customers can easily reach their intended location or locate a building by simply following the instructions shown on the signage.

Role of signage’s in the retail industry:

1. With the use of signs, a consumer may readily locate the store. The signboard provides all of the relevant information about the store.

2. The consumer can readily learn about the products available at the business without bothering anyone. Visual displays placed inside a retail business can really assist customers in quickly locating products.

Customers are drawn into the establishment because of the signboard.
A company cannot afford to lose even one customer, thus the signage must be appealing enough to entice customers to enter the store.
The size of the signboard should not be too small. End-users may overlook little signage, rendering the entire concept of luring clients into the store ineffective.

c) Display:
The visual and aesthetic qualities of presenting a product to a target group of customers are referred to as display. Visual merchandising, on the other hand, comprises the visual and artistic components of the corporate environment. When interior displays are done correctly, clients may make a choice without the assistance of a sales staff. There are five types of indoor displays:

Displays those are both closed and open
Point-of-purchase displays

POPs (points of purchase) are consumer sales promotion devices that hold, display, or distribute products. They encourage impulse buying. Vending machines and candy racks at checkout stands are two examples.

Kiosks are interactive retail or point-of-purchase displays, like picture finishing stations for processing digital photos. They are well-liked as a result of: Instant product accessibility; more dependable technology; and information services.

Props, commonly referred to as properties, are unique display components. Typically, they are categorized as either decorative or useful. Mannequins are examples of practical props that support product.

A display typically has between four and six seconds to grab a customer’s attention, pique their interest, and convince them to buy a product. Display design entails picking the merchandise, the display, the environment, adjusting the creative components, and assessing finished displays.

Display Design and Preparation: Choosing the goods to be displayed. Visually appealing and seasonally relevant display merchandise is required.

Choosing the display. There are four fundamental types of displays.

A display of a single item.
Related-merchandise displays, which group products that can be used together. Choosing a location. The environment a firm chooses will primarily depend on the image it wishes to convey. There are three types of settings: realistic, semi-realistic, and abstract.

Using artistic devices to their advantage. A display’s aesthetic components include: line, color, and shape; direction and texture; proportion and balance; motion, and lighting.

d) Promotion:
The dissemination of knowledge about products, services, images, and/or concepts to sway consumer behavior. The dissemination of information about products, services, pictures, and ideas to sway consumer behavior is known as promotion. Refers to strategies for drawing attention to a product from the general public.

Publicity for sales promotion.
Promotional displays highlight the tone of the campaign, the aims, and how the item ties in with the new design.

Conclusion:
A merchandise mix is the breadth and depth of the products carried by retailers. A retail store’s product selection is fundamentally what is meant by the term “merchandise mix.” It refers to the range and depth of the products a specific retail outlet regularly carries. It might be challenging to choose things that are in a good balance, so it’s important to give this some careful thought.

References:

https://egyankosh.ac.in/bitstream/123456789/10115/1/Unit-9.pdf
https://www.cottonworks.com/en/topics/retail-marketing/merchandising/establishing-the-retail-merchandise-mix/
https://www.studocu.com/in/document/guru-gobind-singh-indraprastha-university/bba/merchandise-mix/12390460
http://vasantkothari.com/content/view_presentation/511/16-Merchandise-Mix
https://link.springer.com/chapter/10.1057/9781137476340_13
https://www.rmservicing.com/articles/what-is-visual-merchandising/
https://managementstudyguide.com/signage-in-retail.htm
https://www.shopify.com/in/retail/retail-signage
https://www.repsly.com/blog/most-effective-types-retail-displays-explained

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Mazharul Islam Kiron

Founder & Editor of Textile Learner. He is a Textile Consultant, Blogger & Entrepreneur. He is working as a textile consultant in several local and international companies. He is also a contributor of Wikipedia.