Adding or enhancing a niche requires more than ordering products and putting them out in your store. Below are five best practices to guide you in managing inventory in a niche category. To learn more about inventory management for all your departments, visit NHPA’s Employee Training page for over 40 online training courses.
Rotate endcaps regularly. Get the most out of your endcaps by changing out merchandise once a month. Some progressive retailers even change them out every couple of weeks.
Use clear signage. Clear and creative signage makes it easier for people to shop, which means they may spend more time browsing. You might even land an impulse sale.
Be vigilant about housekeeping. Make a big impact on the way your merchandising looks by keeping the shelves clean, faced and organized. Train every employee to fix problems as soon as they spot them.
Run sales to move out old products. When updating or changing your product assortment, sell leftover products at a discount to move them fast and make room for new items.
Update product assortments. Niche categories can often include trendy or fad items, so be mindful of what’s trending, removing any products that have gone out of style or are no longer selling.