Are you planning to start a high-end luxury store? Merchandising products in most high-end retail stores imply targeting people who enjoy finer things in life. However, you can optimize sales by targeting a bigger audience including those outside the targeted niche.
Though many retail merchandising tactics are available in the market, a lot of stores still report suboptimal results. This brings about one key question; “What is the best visual merchandising strategy that works for luxury stores?” This post outlines the five expert tips that you should try in your luxury store.
Start by understanding the target client
Understanding the target client is the first and most important step when crafting a visual merchandising strategy. Here, you need to understand the customer using data that can help you to target them. Here are some details to look for;
To make your visual merchandising system deliver even more results, consider extending the initial study to establish the strategies that work (read more). The best way to know this is working with experts who gather and store progressive market data.
Make sure to target people using all the five senses
Unlike the standard retail stores, the high-end luxury designs require the management to proof that the watches, rings or bangles in the display are the best in the market. This implies targeting all the five senses to demonstrate beyond reasonable doubt that the item will enhance the client’s sense of style and opulence.
Little is more in luxury stores
Unlike the common belief that you should display as many items as possible, things are different when it comes to the high-end luxury merchandise stores. Here, the target is ensuring that the strength of the item on display is captured articulately for the client to make the right decision.
If you are displaying a high-end watch, it is better to use only one item per display. You could even use the same version of the watch but position it at different angles to bring out its strengths.
You must go beyond the rule of three
While the rule of the three in visual merchandising has been demonstrated to be a highly effective method of driving sales in retail stores, you need to go beyond the rule for success in luxury stores. How do you leverage the rule of the three?