How can you determine the best merchandising strategies for each channel?

1 Know your channels

The first step is to understand the strengths and weaknesses of each channel you use, whether it is online, offline, or omnichannel. For example, online channels offer more convenience, personalization, and data, but they also face more competition, distractions, and cart abandonment. Offline channels offer more sensory, social, and experiential aspects, but they also have higher costs, lower reach, and less flexibility. Omnichannel channels combine the best of both worlds, but they also require more integration, consistency, and coordination. Knowing your channels will help you identify the opportunities and challenges for merchandising in each one.

2 Know your customers

The second step is to understand the needs, preferences, and behaviors of your customers in each channel. For example, online customers may value more information, reviews, and comparisons, while offline customers may value more service, assistance, and demonstrations. Omnichannel customers may switch between channels depending on their purchase journey, so they may value more consistency, convenience, and loyalty. Knowing your customers will help you segment, target, and position your products in each channel.

3 Know your products

The third step is to understand the features, benefits, and categories of your products in each channel. For example, online products may need more visual, textual, and interactive elements to showcase their value, while offline products may need more physical, emotional, and sensory elements to appeal to customers. Omnichannel products may need more cross-channel, cross-selling, and upselling elements to increase sales. Knowing your products will help you display, arrange, and highlight them in each channel.

4 Know your goals

The fourth step is to understand the objectives, metrics, and budgets of your merchandising strategies in each channel. For example, online goals may focus more on traffic, conversion, and retention, while offline goals may focus more on footfall, sales, and satisfaction. Omnichannel goals may focus more on integration, loyalty, and advocacy. Knowing your goals will help you measure, optimize, and allocate your resources in each channel.

5 Know your competitors

The fifth step is to understand the strategies, tactics, and performance of your competitors in each channel. For example, online competitors may use more SEO, PPC, and email marketing to drive traffic, while offline competitors may use more signage, displays, and promotions to attract customers. Omnichannel competitors may use more CRM, loyalty programs, and social media to engage customers. Knowing your competitors will help you benchmark, differentiate, and innovate your merchandising strategies in each channel.

6 Know your trends

The sixth and final step is to understand the trends, changes, and opportunities in the market and in each channel. For example, online trends may include more mobile, video, and AI-based merchandising, while offline trends may include more experiential, sustainable, and local merchandising. Omnichannel trends may include more personalization, automation, and omnification of merchandising. Knowing your trends will help you adapt, anticipate, and leverage your merchandising strategies in each channel.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?