Tuesday, July 28, 2009

Holiday Planning for Online Retailers: Merchandising

Planning is the difference between success and failure. One of the additional benefits of planning is it makes life easier during the hustle and bustle of the holiday rush. Well, it may not make it easier in terms of longer lunch breaks, but, it’ll allow you to do other things that generate incremental revenue. Here are some of the things you should look at for your merchandising plan:

Home Page & Category Plans
Plan your home page and category page refreshes in advance. By ‘refresh’ I mean update imagery and products. Pull together data from last year to see what products did well and what page locations generated the most clicks and dollars. Also pull together the same data for this year. Take a look at your forecasts, market trends and plan your refreshes accordingly. Get your creative assets lined up and present mockups to stakeholders for final blessings.

Cross sells & Up sells
Cross-sells/Up-sells: This is an oft-overlooked merchandising area either because retailers don’t have the capability in their ecommerce platform or simply don’t know how to do this. Pull reports to determine most profitable product correlations. Basically, when product X is bought how often is product A, B, C, etc bought? This data will help you determine how to merchandise your cross-sells and up-sells. Of course, there are other factors you may consider for this: new products, forecasts, recent trends, etc.

Buyers guide
This is an excellent way to guide people’s buying decisions and get SEO benefit. Keep it simple by targeting price points, demographics and themes.

Category updates
Update your navigation to include categories like Gifts for Him, Gifts for Her Gifts Under $50, etc. Your specific business might require different categories, but, the goal here is to help people make purchases as efficiently as possible.

Next up...Shipping!

1 comment:

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