Merchandising Tip #1

 { Tip #1: Create a Clearly Defined Clearance Section }

When I go into a store, whether it's HomeGoods or an upscale boutique or gallery, I innately look for a clearance section. At Home Deopt, there's usually a section to the right side of the store that is inclusive of 2 aisles that are stocked clearance items...likewise, TJMaxx and HomeGoods usually have an aisle identified by a hanging sign that says "clearance". . .

The big guys have merchandising managers in corporate offices that have formulated this merchandising tactic. My advice: take their idea and use it in your retail space. Customers like me are drawn to a clearly defined clearance section. It doesn't have to be pretty - simply group clearly marked clearance merchandise all in one spot and bring attention to the area with a bright red or yellow sign (avoid hand written sinage, always)... I assure you, customers are sure to see the section and buy something...just as the old adage says, "just because its on sale, doesn't mean you should buy it" (but most people do! and, you need to take advantage of that.) 

The number one problem I face in merchandising is retail owners who are scared to get rid of merchandise; which creates a stagnant store environment - if it's been in the store for a while - get rid of it and make room for more merchandise! The store will look better and you'll at least make your money back as long as you don't discount below the wholesale price.