When it comes to effective merchandising strategies for your business the old adage is true – if you can’t measure it, you can’t manage it. It is easy to look around your pharmacy and estimate what your key categories are. However, looks can be deceiving, and sales trends change over time; ‘traditional’ key categories may become less so, especially when a simple return on space sales comparison is undertaken.
This comparison is not difficult to do – your categories are generally divided by bays and shelves, so it is not hard to do a rough approximation of the space a category takes up and then look at actual sales data against the space eg sales per linear metre for a period. You can then determine what your key categories are and what categories are taking up more retail real estate than they really deserve.
The importance of positioning of categories within your store is basic retailing methodology, but often this is not reviewed after the initial fit out. Things change. A well-planned retail layout allows you to maximise the sales for each metre of the selling space and makes use of the walls and fixtures to create selling hot spots.
Remember, it is never too late to make an impact with smart merchandising!