Perfect Your Merchandising Strategies with The WiseGuy’s Guide to Online Merchandising

wiseguys-guide-to-merchandising

Your merchandising strategy can make the difference between a conversion and an abandoned cart. You have to make sure your store is continuously optimized for the perfect shopping experience online. To address the importance of merchandising and its effects on conversions, Wiser has put together an eBook, The WiseGuy’s Guide to Online Merchandising.

The eBook acts as a guide to make sure your merchandising strategy is on point at all times. Merchandising acts as a way for retailers to create alluring experiences that incentivize shoppers to discover and eventually purchase products. To improve your merchandising skills, you need to understand shopper behavior and combine content, commerce, and community.

Lucky for you, The WiseGuy’s Guide to Online Merchandising can help you connect all of these insights and capabilities to boost conversion rates and maximize profit. One of the largest impacts on your conversions uses data to fuel your decisions. Data can help you display the most popular products at the top of search results to simplify the process.

Inventory is also a huge part of merchandising. You want to make sure you’re always stocked up on your most popular products, because what’s worse than an out-of-stock situation? But beyond that, you want to make sure you have the hottest items. This can keep a shopper from leaving your site to search for the product elsewhere. Monitor the best selling items across product categories consistently to avoid missing trends. It’s also important to not have your customers be like:

confused
Just as you wouldn’t want to confuse a customer who’s shopping in person with a messy, unorganized store, you want to make sure your site layout is easy to navigate. From the homepage to the checkout screen, you want to offer the smoothest process possible. A frustrated customer is not only going to abandon their cart, they’re probably not going to return to your store, either. Fast load times, clear directions, and fewer information fields are just a couple of ways to do this.

You want to offer the most informative content possible. Since the shopper can’t fully experience the product before a purchase, they’re going to do plenty of research. Roughly 46% of users read reviews and blogs before purchasing online, so make sure you encourage consumers to review your product online. This can be done on social media, as well. No matter how the reviews are positioned, shoppers want to be well informed before making a decision.

And of course, you want to personalize the experience as much as you can. According to Bigcommerce, timely and effective product recommendations can increase average order value up to 50%, conversions by 150%, and improve revenue by 300%. This can be done by using cart and historical data to make sure you’re offering the most appropriate product possible.

Merchandising is the fuel your conversion rates need to take off sky high. Want more tips like these? Wiser’s latest eBook can make sure your site is continuously optimized to turn shoppers into customers. Download it here for free.

Contributing writer: Brian Smyth

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About Wiser

Wiser provides a complete suite of solutions to give retailers, brands, and manufacturers the edge to stay both competitive and most importantly, profitable.Want to learn more about what Wiser can do for your business? Sign up for a 14-day trial here.

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Min-Jee Hwang

Min-Jee is the Marketing Director at Wiser, a dynamic pricing and merchandising engine for online retailers. She has extensive experience working with SaaS companies and holds a BA from Carnegie Mellon University and an MBA from NYU Stern.