Productivity is one of the buzz words. It’s not about getting more by doing more but it’s all about getting more by doing less.In the context of retail selling, according to David barker, the biggest challenge in driving sales is merchandising a product.
Apart from the quality of the products, the success of merchandising depends on many factors. The products should be displayed in a manner that stimulates the consumer’s attention, interests, desires to make a purchase. This is easier said than done and there is a formula that can help you especially if your product is new and there is little historical data to rely on.
The formula is known as “PDR”. Plan it, do it and review it.
As you plan what you want to merchandise, go to one or two ideal shop floors and apply your plan. Then keep an eye and review the results closely to then adjust what isn’t working until you get the desired results.
For example, if you are satisfied with the looks and strategy you’ve used to direct traffic towards your shelves, keep an eye on the sales numbers for a week. If sales are not there, go back to the store and inspect what is happening so that you can adjust your plan, execute it and review it again.
By the end of the second week you should have it down to a science. Once you have a winning plan, pass on the information to all other stores and share all the learnings you got from the various plans you implemented so that it provides a big picture as to why to implement the plan the way you are suggesting.
It doesn’t matter if you are selling in retail or in a B2B environment. It’s really about planning what to do, doing it and reviewing the results. Based on the reviewed results, you decide what to do more or less of until you get the desired results!
How systematic are you in implementing “PDR”? Doesn’t matter the answer, you can start by using it right now. What project would you like to get started on? Share it with me in the comments and use the accountability concept to get you going. I’ll be there to support you!