What is Merchandising?
Merchandising is all about making your products look their best so that customers are drawn to them and more likely to make a purchase. When it comes to e-commerce, merchandising means making sure your website is set up to show off your products in the best way possible.
This includes everything from having great product images and descriptions to making sure your products are sorted and arranged in a way that makes sense for your customers.
Effective merchandising can make a significant difference in the success of an e-commerce business.
It can increase product visibility and discoverability, drive traffic to your website, boost conversion rates, and improve customer satisfaction.
Why is Merchandising Important in E-Commerce?
When customers visit a physical store, they can see and touch the products before making a purchase.
However, when shopping at an e-commerce store, customers have to rely on product images and descriptions to make their purchasing decisions.
As a result, it is crucial for e-commerce sellers to make sure they have the right merchandising to showcase their products effectively.
A well-merchandised e-commerce store will:
- Facilitate customers in finding the products they need.
- Assist customers in visualizing the appearance and texture of the products.
- Create a sense of urgency and excitement around the products.
- Encourage customers to buy more than their original intention.
Merchandising vs Marketing
Merchandising and marketing are two super important parts of your business.
Marketing helps you sell your products through advertising and other strategies, while merchandising is all about how you present your products to your customers.
You want to create an awesome shopping experience that will encourage your customers to make a purchase, and marketing will help you get the word out and drive traffic to your website.
So remember, merchandising is all about presentation and marketing is all about promotion. GMV represents the total value of merchandise sold through an e-commerce platform during a specific period of time.
Types of Merchandising in E-Commerce
When it comes to e-commerce, there are plenty of options for merchandising. Here are some of the most popular types:
- Product placement: This refers to how products are arranged on a website. The goal is to place them in a visually appealing and easy-to-find manner.
- Product pricing: The price of a product can have a significant impact on its sales. E-commerce sellers must set competitive and attractive prices to entice customers.
- Product promotions: Promotions, such as discounts, coupons, and free shipping, can be a great way to boost sales. E-commerce sellers should strategically use promotions to target their ideal customers.
- Product Reviews: Customer reviews can provide valuable information for potential customers. E-commerce sellers should make it easy for customers to leave reviews and actively solicit feedback.
- Visual merchandising: Visual merchandising is the use of images, colors, and other visual elements to create a compelling and inviting shopping experience. This can be accomplished through product images, videos, and other design elements.
Conclusion
By understanding the different types of merchandising and the four P's (product, price, place, and promotion) of merchandising, e-commerce sellers can develop a merchandising strategy to increase sales and expand their business.