What’s on sale…how focus can improve your merchandising?

Posted on Nov 25, 11 in Blog

A good friend of mine that consults with many financial companies across the country shared some recent primary research that came from a series of studies conducted on behalf of a client.

The topic was merchandising. Specifically, what is the best methodology to create the most effective consumer response while a financial client was within the branch environment?

Two specific approaches were tested.

One had a series of different offers scattered throughout the floor in the various signage hardware. Let’s call this the “supermarket” approach. Every product is on sale and we are “bombarded” with multiple messages.

The second had a specific, single campaign focus. All the merchandising material matched with a unified presentation. Let’s call this the “car lot approach.” Often when you go into a dealership you see one major theme merchandised throughout the entire lot.

His findings pointed out that the single theme strategy is best. By far and away the staff and management found greater interaction and awareness when one single theme (car lot) was presented versus multiple messages (supermarket). Consumers asked more questions about the promotion and were generally more prepared to talk about it once they arrived at the teller window.

It makes sense to me. Usually people are going into a financial location to transact pre-determined business. They are on an errand. Trying to overload them with too many decisions doesn’t fit into their buying psyche. Getting one good idea into their head during this visit is a real accomplishment. Contrast that to the typical supermarket shopping experience. You are likely on a mission to fill the cupboards…a much different mindset.

The next time you think about how to merchandise your promotion, identify the single most important program or product. Promote that assertively.

If you have any questions, please feel free to email me at .