The UK's leading manufacturer and supplier of point of sale and retail displays

Budget for point of sale display success

As we move into 2013, for many business the most import ‘new year’ is the new financial year and many retailers will soon be putting together their plans and budgets for the Financial Year 2013-14. Budgeting for an updated point of sale display is essential.
Acrylic display items are hard wearing and durable – that’s one of their main advantages – but that doesn’t mean they don’t sometimes break or get damaged in the rough and tumble of retail. In addition, there are plenty of new items available to help the retailer – jewellery displays, slatwall shelves, display plinths and acrylic blocks etc. Effective budgeting will allow you to replace worn items and update their stock. Many of the items are low-cost and there is usually a discount for multiple purchases so they can become even more cost-effective.
Before pencilling some costs, do yourself a favour and take a look around the competition. See what is working well and, of course, what is not. Look at how many product lines they sell (more? fewer?) and how they use retail and point of sale display to maximise sales of their core lines. The trends appear to be contradictory:  some retailers are selling more and more lines, especially where other retailers have ceased trading and there is a need in the community to take on some of the trade of the lost retailers. Other retailers, we know, are benefiting from offering very niche products.
Check out all the competitors’ opportunities to communicate with their customers – internally, externally – and of course digitally. See if there are any loyalty schemes or community-based events at these retailers. With the growth of online retailers – and especially its move into areas that were previously considered unsuitable for online sales – bricks-and-mortar retailers need to give their customers a reason to visit them; price is one way but fairly short-sighted. Other ‘reasons’ include excellence of service and stock, loyalty schemes and updated displays.
Updating display items is cost-effective but essential and setting aside a modest budget for the year ahead will allow you (and your team) to create effective displays to maximise sales.
Remember to watch this space as we will be releasing a range of great blogs over the coming months. Our readers can also find our Wrights Plastics GPX Facebook page at http://www.facebook.com/WrightsPlasticsGPX. For all the latest goings on, you can keep up-to-date with Wrights Plastics GPX on Twitter https://twitter.com/WrightsGPX. And we also now have an Wrights Plastics GPX Google+ page live at https://plus.google.com/u/0/117105393331417807514/posts.
 

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