06 Jan Still using email for your VM compliance?
When we first began developing StorIQ, we carried out some research to determine the potential ROI of making incremental improvements in VM compliance in store windows.
From the survey, we discovered that the primary channel for visual merchandising compliance was email – with as many as 70% of retailers in the UK still doing this.
Email is a highly effective tool for communicating with colleagues. We can’t argue with that. But we do have to ask:
Is email is the best tool for ensuring VM compliance across a retail estate?
Store visits are crucial to VM compliance – but realistically it is difficult for Area Managers to visit every store window refresh across their store portfolio. Store visits have a far wider function than just ensuring VM compliance. However, purpose built technology can increase the quality and efficiency of VM compliance feedback.
Not convinced yet?
In 2013 an in-depth survey  was conducted by Retail Info Systems in the USA on “Optimizing In-Store Merchandising”. In the report, nearly 54% of respondents felt that a “Disconnect between merchandising, marketing and store ops” was the key challenge they faced in ensuring VM compliance:
Could it be that this disconnect is as a result of email and spreadsheets communication? We think so.
But we would say that wouldn’t we!
The same “Optimizing In-Store Merchandising” survey asked senior-level retail merchandisers to estimate the percentage of lost annual sales they attribute to non-compliance of in-store merchandising. Thirty-seven percent said that up to three percent of annual sales are lost due to non-compliance.
That means, for a company with a £100 million in annual sales, up to £3 million is lost as a result of in-store merchandising practices. The scariest part is that nearly 15 percent of respondents thought the percentage was more than 14 percent.
We’re pleased to point out that StorIQ’s Store View application is a simple and effective means to bridge the gap between marketing, VM teams and store operations. Store View provides a collaborative platform for retail teams to share, manage and review in-store visual merchandising standards. A cost effective and time saving tool for VM/Head Office teams, Area Managers and Stores.
StorIQ Store View provides a collaborative platform for retail teams to share, manage and review in-store visual merchandising standards. Click here to learn more!