What is Cross Merchandising?

Cross merchandising is a strategy that involves placing or displaying different products in near proximity. This is done for several reasons such as to improve sales, boost impulse buys, introduce new products, or increase overall transaction values. For instance, placing a memory card near the camera can prompt shoppers to buy items they might not have initially planned to purchase.

How Does a Data-driven Approach Help to Build a Robust Cross Merchandising Plan?

Instead of relying on your intuition, leveraging data analytics can help you create a robust cross-merchandising strategy-

1. Understanding Customer Behavior-

Identify which products are frequently bought together.
Segment the customer based on their shopping preferences.

2. Optimizing Product Placement

Maximize visibility with data-driven planogram design.
Utilize A/B testing to experiment with product placement and monitor.

3. Enhancing Marketing Strategies

Analyzing seasonal trends to create a thematic display.
In eCommerce, suggest complementary products based on individual buying behavior.

4. Monitoring Performance

Experiment and monitor different strategies by analyzing sales data.
Analyze sales velocity to manage inventory effectively.

Highlighting Some Effective Cross Merchandising Techniques

Increased Sales- Group complementary items to boost sales.
Saved Time & Effort- Place related products together for easier shopping.
Bundled Pricing- Bundle complementary products to increase perceived value.
Product Promotion- Place less popular items near popular ones to drive sales.

How do we help?

Data migration can be quite a complex task, where you must ensure data quality, compatibility issues, security, and any other issues that might arise. This is where we come in, our data experts can help you with data assessment - from identifying existing assets, to strategic plans, and a robust data cleansing process. During the process, we utilize advanced tools to create a seamless implementation process. Moreover, after implementation, we provide the facility to train and provide any future assistance.

Learn more about cloud migration, and its types, and understand the best strategy that suits your business needs. Read here!