The business of dreams
The Henmark Group managing director Martin Henry
Mei +
Purform Mannequins managing director Ben Purdy
What percentage of fashion retailers make the most of the visual display options available to them. Why is this?
Martin: You've really got to break it into two camps: multiple stores who are mostly terrific at it and have the budget dialed in and smaller retailers who do something when money allows. We're not such a large company ourselves that it isn't a stretch, but I have a very substantial percentage dialed in each year in my profit and loss for our own visual merchandising.
Karen: That is not something we can put a figure on, however, retailers either understand the impact that visual merchandising has on their customers and cater to their tastes, emotion and buying patterns - or they don't. Most retailers that are doing this well have a very well-researched and defined market/clientele and therefore are talking them through their product placement and visual merchandising elements.
Ben: I would estimate that about 20 to 30 per cent of fashion retailers make the most of it. I think it's low because companies don't place enough emphasis on instore displays or visual merchandisers are not given enough budget. I often wonder if the people who make the financial decisions understand display and its subliminal impact on consumers.
What has been the single biggest visual merchandising innovation introduced to the sector over the past 12 months?
Martin: In my travels this year to globalshop in Orland, US and last year to euroshop in Dusseldorf, Germany there is a return to full mannequins, realistic, not the abstracts - we're going to see more and more of this.
Karen: Mannequins...full-bodied - with head and either sculpted hair or wig and make-up - continue to dominate windows, groupings of mannequins throughout the store and more active poses/shapes, sitting, reclining etc are also coming through as well as beautiful new high gloss and textured finishes with abstract features.
Ben: For us it would be the introduction of magnetic arms on our new female mannequin.
What is the minimum sum fashion retailers should be investing in visual merchandising on an annual basis?
Martin: Minimum sums are hard to say as, of course, turnovers vary but I'd say promotion and visual merchandising must be at least five per cent, and preferably 10 per cent if growth is the goal.
Karen: The mistake is to think that customers don't notice good visual merchandising. It's not just about a prop or hot spot display. It's not about spending a lot, it's about how you appeal to your customer, what your image is in the marketplace, in the shopping strip you're in. Having a visual merchandising plan is just as important as your buying plan for a successful retailer.
Ben: If you invest wisely at the start about $2000 to $4000 should keep a store's visuals looking good.
How much should a start-up fashion retailer look at investing in their visual merchandising?
Martin: For a start-up of course it's a different thing as they are doing the full fitout - which, if it's a Westfield is going to be minimum of $100,000. In strip shopes it can be much less, we've had some good stores start for $30,000 or less.
Karen: The investment has to be time and consideration, not dollars. Visual merchandising elemnts throughout a store can be very simple and still be very effective. The statement has to be consistent and carry a clear message, this goes with that or colour-blocking so a customer can understand the whole story at a glance. It's about making it appealing and easy to buy.
Ben: It would depend on the size of the store, but at least $4000 to $5000 for an average main street store if you want to do a good job.
What is the most common mistake made by fashion retailers in regards to their visual displays?
Martin: The product, your product is always the point so all shop fittings, all visual merchandising must be directed to making the product king - steer clear of coloured metal systems, keep it simple with brushed chromes, silvers, whites or blacks. The biggest mistake? Cramming in too much and having no display - mannequins are critical as people need to be able to see what things look like on, very few can visualise.
Karen: Too many mixed messages, too much signage with conflicting details at different heights and no stock of the garments on display in the windows on the shelf for sale. Make sure your mannequins' torsos have saleable merchandise on them. Keep the lines clean and clear.
Ben: Not using mannequins to full potential.