The paper "Strategies Used by Retailer to Increase Sales" is a brilliant example of coursework on marketing. Retailers can improve profits by either increasing sales or decreasing costs. The cost reduction opportunities are of operation in nature since they rely on effective personal management, stock management, and exploiting technology. The increase of sales opportunities is market-driven, and they are divided into 2 groups: in-store tactics and out-of-store tactics (Stephen J. Hoch, Mary E. Purk and Xavier Dreze 3). In in-store tactics, the retailer tries to obtain maximum surplus from customers once they are inside the shop.
With tactics of out-of-store, the retailer endeavors to attract more customers in the store, either by attracting new customers or by inducing current patrons to buy at their store versus the competition more often. One of the various difficulties that face retailers is how to allocate space of shelf effectively to the large number of products they sell in order to increase sales per square foot. Retail shelf space is the most valuable real estate. Therefore, retailers work harder to maximize sales on their investment while considering that allocating too few products will cause loss of sales due to going out of stock and allocating too many facings is a waste.
According to Freeman, Store layout can be utilized by the retailer where the store itself is used to start and continue the relationship with consumers (167). The layout of a store has the ability to overcome various negative emotions or attitudes customers may hold as they enter a retailer store. The retail design includes the interior and exterior of the store. There exist many details in the design of a store, and all should combine to develop the needed store ambiance, which is the overall mood or feeling revealed by a store via its aesthetic appeal to human senses.
Hartwell Design suggests that visual merchandising is the artistic display of goods and theatrical props utilized as a setter of scene decoration in the store. Visuals do not always involve goods but they may just be interesting displays of goods somehow related to the product being offered or to a mood the store wants to create. 2.0 Retail Design The interior design of a retail store can be categorized into design finishes and architectural elements that encompass ceilings, walls, and floor coverings (Freeman 167).
Designing the interior is one of the highly specialized matching skills of science and art. It has involved various areas of skills such as architecture, interior design, ergonometric, and advertising. This aspect has been found to make it easy for employees to stock and restock the products when sold out and it allows goods to be displayed in order of how they are beneficial to the consumer.