Wagreens is experimenting with a new store format, which made its debut earlier this year. A few folks from our team recently visited the newly redesigned Walgreens in the South Loop area of Chicago. The experimental new format is a move in the direction of hybrid retail, but we suspect it’ll take several more iterations of this new concept before Walgreens gets it right.
The Largest Retailers are Doubling Down on Accessories
In the world of fashion, accessories complete the outfit. The same could be said for consumer technology products. Accessories like phone cases, earbuds and cables are the finishing touches that help us get peak fashion and function from the tech products in our lives.
Consumers often accessorize portable products like phones, laptops and tablets. Yet a large percentage of those consumers purchase those accessories online versus in-store. Retailers should take note, and here’s why:
Attractive Margins
Accessories are some of the highest-margin products in the consumer electronics department. Products that represent healthy margins should be featured prominently to maximize exposure, yet the opposite is true in most retail settings.
Poor Placement
More often than not, CE accessories aren’t located near the products they correspond with. The retail shopping experience should be all about making it dead-simple for people to find they accessories they need. Expecting them to walk the aisles in search of the perfect accessory isn’t realistic – most shoppers will simply go home and order online.
Imagine the Ecosystem
Selling CE products is all about getting people to envision how a particular product will fit into their lives. By showcasing an entire family of products together, the retailer gently leads the customer to consider accessories that maybe they weren’t even shopping for in the first place.
Own the Impulse
Customers who shop in store are highly motivated. They made the effort to shop in store, either because they need a particular product then and there, or because they want to see a product in-person before purchasing (or both!). Merchandising accessories more prominently capitalizes on this motivation and gets them in front of customers when they’re in the mood to buy.
To help retailers capitalize on this opportunity, OnQ developed a range of retail display options that help increase sell-through of high-margin accessories. We offer a wide range of modular topper-mounted merchandise display boxes measuring 2, 4 and 8 feet wide, all of which can be easily integrated into existing displays or designed into new builds. OnQ also designs and manufactures free-standing accessory towers to suit virtually any product category, with endless design possibilities for standard and custom applications.
Visit www.onqsolutions.com to learn more about our full array of accessory merchandising solutions, or contact us and let’s chat about how we can help you merchandise accessories more successfully at retail.
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