1) Reasonable arrangement of the stocking cycle can avoid inventory backlog.
A reasonable stocking cycle is fundamental to achieving a good inventory turnover, stocking cycle is generally considered product sales, heat, procurement cycle, life cycle, logistics, and other issues, based on the seller's liquidity capacity to set an approximate number of days.
A. Depending on the product life cycle, the following stocking strategies can be consulted (for reference only).
a. New product period: first 300-1000 pieces.
b. Growth period: 2-3 times the estimated daily sales x 30 days.
c. Stabilization period: 1.2 to 1.5 times monthly sales.
d. Decline period: clear inventory and stop replenishing.
B. When faced with seasonal products, the following stocking principles may be considered (for reference only).
a. Initially stocked as normal products.
b. Higher sales, with sales forecasted until the end of the season.
c. No further replenishment if sales match expectations.
d. If sales are higher than expected, a small amount of quick replenishment to avoid large quantities of inventory.
e. Clear inventory and stop replenishment.
2) A humanized shelf display helps to attract target customers to stop by.
It is understood that, for the convenience of customers, women as the target customer Watsons, the height of the shelves from 1.65 meters down to 1.40 meters. Its shelf design is user-friendly enough, the main products on display in the shelf height are generally 1.3 meters - 1.5 meters.
In terms of merchandising, Watsons focuses on its intrinsic connection and logic, placing cosmetics, skincare products, beauty products, hair care products, fashion products, pharmaceuticals, accessories and cosmetic tools, and women's daily necessities in the order of classification.
According to statistics, 35% of the products sold by Watsons are cosmetics and skincare products, 30% are personal care products, 15% are pharmaceuticals, and the remaining 20% are food, beauty products, and clothing and accessories.
3) Cleverly set the location of the cash register, which is conducive to increasing the flow of people
The checkout counter is where customers pay for their transactions and are the last place they stay in the store. For any retail store, the impression that the cash register makes on the customer is good or bad and determines whether the customer will come back a second time or not.
Many stores are accustomed to setting up their cash registers at the front of the store or at the entrance to the store against the wall, but setting up the cash registers at the front of the store has proven to be a convenient way for customers to pay, but it can hinder the flow of customers and put pressure on them to enter the store. Watsons' choice is to put the cash register in the middle of the store, thus avoiding the disadvantages of the above two practices.
4) Efficient placement of merchandise around the cash register to help increase sales
Three types of merchandise are typically displayed in front of the cash register.
a. Affordable Promotional Merchandise. When a customer is paying for a product, the cashier will, at the appropriate time, promote promotional merchandise that is fully affordable.
b. pop-ups. Sales competitions for merchandise are often held at Watsons, a highly successful form of promotion, and these merchandises are also sold at the checkout counter.
c. Lightweight goods. We can also find light goods such as sweets, chewing gum, batteries, etc., which can stimulate the customer's immediate desire to purchase.
Finally, behind the cash register, against the wall, the display is mainly expensive, high-value items or items that are in the top 10 in sales.
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