HOW CAN MODULARITY IN RETAIL DESIGN FIXTURES INCREASE THE CHANNEL PARTNER WALLET SHARES?

With the rise of new technologies and the introduction of immersive options designed to improve customers' shopping experiences, market trends, and purchasing habits of consumers are constantly evolving. Considering this scenario, retailers are also facing a lot of unexpected situations that further require immediate adaptation. In this case, the need for a retail display that evolves with the brand values, its retail space, and customer preferences automatically increases. Well, this is exactly why the concept of modularity in retail design was introduced.

Discovering the concept of modularity in retail design fixtures! 

Modularity is a design philosophy that includes the creation of fixtures by incorporating interchangeable and reconfigurable components. Unlike the traditional fixed displays, modular retail fixtures offer a high degree of flexibility along with the scope of personalization and customization. This further offers the retailers with the flexibility to easily rearrange, expand, or update the modular fixtures, as per their needs and preferences of the customers.

Brands that deal in the production and sales of multiple products will definitely have to cater to a diverse range of audiences. In this case, flexible fixtures can prove to be useful and help brands serve their potential customers, which will mainly differ on the basis of demographics.

For example, let us suppose that a brand mainly deals in the production of water heaters (geysers) and air conditioners. In this case, the geyser is the first product that should be displayed in their retail store that is located in North India. On the other hand, displaying air conditioners as the first product in a store that is located in South India would be favorable.

The above example perfectly explains the importance of a modular retail fixture. Irrespective of whether a brand is supplying its products to retailers with pop up stores, large outlets, or e-commerce driven showrooms, they can achieve scalable and versatile solutions by implementing modular retail fixtures. Doing this will benefit all the stakeholders for sure, significantly impacting the wallet shares of channel partners.

How do modular retail fixtures increase the wallet shares of retailers?

Cost Efficiency, Effectiveness, and Customization

In order to keep pace with the market updates, retail partners constantly need to modify their retail stores and product displays. Doing this calls for hefty expenses that are challenging for retailers to handle. In the case of traditional fixtures, they need to invest a significant amount of capital. However, those fixed displays do not offer any scope for personalization or customization and, hence, cannot be modified or changed according to the present trends of the market and the needs of customers. But this isn't the case with modular fixtures.

Modular fixtures are flexible and can be customized according to the needs of the situation. These are adaptable and can directly reduce the need for new displays with every change in products. Clearly, modular retail design fixtures are an incredible way of cutting costs that can help retailers save a lot of cash and further utilize it in other effective and efficient manners.

The retail stores of Crompton have always displayed their fans in a traditional manner. Each store has a dedicated wall that has a maximum of six to eight fan models displayed on it. However, they decided to do something innovative this time without actually changing the way of displaying. As of now, around 1500 Crompton retail stores have employed a modular sliding fixture that displays the product in the same manner but in an increased quantity. Hence, where the customer was presented with only six to eight products, they now have access to twenty four to thirty six products, which is clearly four times more.

Enhanced product presentation and customer's shopping experience

The retail design layout and the overall presentation of retail space are some of the most important factors that significantly influence the purchasing decisions of customers. Modular fixtures offer retailers the flexibility to design immersive store layouts that will not only optimize the customer's flow but will help them highlight the high margin product as well.

For example, retailers can utilize modular fixtures to draw attention to the new launches, special offers, or even the best selling items of their stores. Doing this will not only provide them with the flexibility of displaying the most suitable products but will also let them maintain the aesthetics of their retail store.

In addition, the best part about modular displays is that retailers can constantly update their store layout according to the market trends without putting in much time, effort, and cost. All these points will directly lead to an increase in their overall wallet share.

Scalability for expanding business

Modular fixtures prove to be a valuable asset for brands that are on the path of expanding and growing. Traditional retail fixtures are neither flexible nor transferable. They are quite heavy, which is why they are not capable of representing the same store design in different locations. Also, even if a retail design agency archives it, they will surely charge a heavy amount. Implementing flexible fixtures is a perfect solution to this problem.

Brands looking for expansion can easily adjust their display fixtures according to the location, size, and format of the store. Doing this will help them maintain a consistent store design across all their outlets, further establishing their brand's identity as well.

In addition, these modular retail fixtures will not cause much harm to the retailer's pocket, ultimately leading to a significant increase in their wallet share.

Winding up

In this fast evolving retail landscape where brands are continuously looking out for new and innovative ways to increase their market sales and profitability, modular retail fixtures do not only serve as a trend, but instead, they are a step towards transformation. Flexible and adaptable ways of displaying the products enable the retailers to enhance their operational efficiency while maximizing the return on their investments.

Modular retail fixtures are indeed one of the best ways of optimizing the cost, processing faster rollouts, presenting the products in an innovative manner, and providing a good scope for expansion. All these advantages further contribute to increasing the wallet share of channel partners.