In-depth, quantitative analysis of retail organizations reveals the common merchandising practices of high performing retailers
One Door, the leading provider of cloud-based merchandising execution software for retail, today announced the establishment of the first-ever Merchandising Execution Maturity Benchmark. Based on research guided by One Door, the Benchmark enables retailers to compare their in-store merchandising practices to those of their peers.
To attract new and repeat customers retailers must improve in-store experience, including introducing products and promotions more quickly, delivering localized experiences, and ensuring that products are easy to discover and buy said E.Y. Snowden, CEO of One Door. As retailers look to improve their merchandising processes to achieve this, our Merchandising Execution Maturity Benchmark provides a first of its kind tool for identifying their alignment to industry best-practices.
To create the Benchmark, One Door surveyed the in-store merchandising execution of 250 retailers across multiple industry segments and geographies. From these results, One Door was able to identify 5 levels of merchandising execution maturity, with the majority (53%) of responding organizations executing at a Level 3 maturity, 21% at Level 4, and only 6% at Level 5 (highest).
One Door research revealed interesting common themes among Level 4 and 5 respondents, including:
- Merchandisable store space is captured digitally, frequently updated, and centrally maintained;
- Merchandising strategies and product assortments are highly localized with placement decisions driven by data;
- Stores can order merchandising materials and submit feedback to headquarters directly through digital applications;
- Headquarters send merchandising directives more frequently;
- Merchandising directives are assigned to a specific person or group within the store and task compliance is tracked as a key performance indicator;
- Employees are confident in their knowledge of merchandising policies and processes, earning bonuses as incentives for successful merchandising.
The full survey report can be found here: http://info.onedoor.com/MX-Survey-Brief.html
Retailers are invited to take the assessment and determine their Benchmark level by visiting: http://merchandisingmatters.com/. Participating retailers will be given their assessment and comparison to the surveyed group averages upon completion.
About One Door
One Door is the leading provider of cloud-based merchandising software, optimizing merchandising execution at each store for the world’s leading brands. One Door is privately held, based in Boston, and led by an experienced team of retail and technology visionaries.
Merchandising Cloud is the only application that combines product and promotional merchandising with store information, providing each store with a unique, unified, and interactive merchandising plan.