The Essence of Accelerated Merchandising™ is Assisting Shoppers In-store by Selling to Them at the “Speed of Habit”.
Shoppers in every retail channel engage physical stores in repeatable patterns. These shopping behaviors go largely unnoticed by retail merchandisers thus creating a very inefficient shopping experience for the shopper and small transactions sizes for the retailer.
Selling at the Speed of Habit Allows Shoppers to Think Less, Spend Less Time Searching, and More Time Buying……
As Dr. Neale Martin maintains in his provocative book, much of movement and actions of the shopper are automated and NOT handled by the “executive mind”, but rather the subconscious, “habitual mind” that has “learned” where to go and what to buy.
Neale Martin is the founder and CEO of Ntelec, Inc., a marketing, consulting, and education company.
Accelerated Merchandising™ techniques are directed to the shopper’s “habitual mind”, bringing the merchandise to the shopper, NOT trying to manipulate the shopper through the store as many merchants attempt to do.
What to Do
One of the best ways to hasten the Closing Speed is to identify the shopper traffic flow and the resulting Dominant Path of the shoppers in any given store. Once the Dominant Path is established by Accelerated Merchandising™ key items and categories are elected as weekly candidates for cross merchandising and placement in or near this important, heavily trafficked shopper path.
By creating overt selling events in the store along the Dominant Path, retailers can reduce the amount of time it takes shoppers to reach a purchase decision, creating a “Halo Effect”, meaning the shopper has more time to make additional purchases because of the retailer’s efforts.
The prudent use of “bump outs”, aisle interrupters, intrusive signage, and other techniques, Accelerated Merchandising™ will dramatically improve the time/dollars ratio of each shopper thus producing incremental sales and transaction size without keeping the shopper in the store longer.