Put simply, a "WOW factor" is something that makes a person stop and look. It draws attention to the retail offer and encourages the customer to make a purchase or spend more than they otherwise would have.
And it is not just the merchandise itself that can create this effect - the position of the product; the dressing of the displays, the overall layout and the ambience of the retail area - colours, sounds and smells; price positioning; special offers, etc, all affect the way people react.
Colour matters
Colour really matters to consumers - as much as 65% of a person's purchasing decision is based on colour. We all have our own favourite colours, as well as those we dislike, and it can be extremely difficult for retailers to satisfy all of their customers all of the time.
More often than not, customers colour choices are influenced by trends on the catwalk, environmental circumstances, and the time of the year.
Colours have been known to fade and become more muted when people face difficult economic times. Consumers want their spirits lifted and have continued to desire colours that are bright and fresh. Spring always brings lighter, lively colours.
So retailers need to be constantly aware of colour trends when ranging merchandise, dressing displays and planning shop environments.
Putting on a display
Designing eye-catching displays is a challenge for most retailers. Displays should be planned in advance, and tie-in to your promotional themes.
When setting up the displays and stocking the shelves think about who the product will appeal to, and position the product accordingly. If aimed at children then the product should be located on the lower section of the display unit. Similarly, items for grown ups should, where possible, be placed on the middle to top shelves. Remember - eye level is buy level.
In today's sensory active world customers expect to be visually stimulated and entertained. You have all of about five short seconds to capture their attention and entice them into your shop.
Dressing for the occasion
Dressing your displays can be likened to dressing yourself for a special occasion. Start by preparing the fixtures and fittings - just as we pay attention to ensuring our bodies are nicely toned and tanned and our hair, skin and nails are in good condition, we should similarly ensure the décor of the shop and the display units and service counters, etc are in tip top condition.
Next select your product offer - think of this as choosing the outfit you are going to wear. Think about the season's styles and colours and fabrics as well as suitability and costs. Consider how you are going to display the product (how you are going to wear it).
When you have selected your offer (or outfit), its time to think about how best to accessorise it. What can you add to the offer (or outfit) to differentiate it from other offers (outfits) and make a real statement (the WOW factor).
Communicate with your Customers
The more your customer becomes engaged with your shop the more likely they are to make a purchase. The use of signage, posters, banners and imagery helps to stimulate interest in your product offer, and encourage browsers to buy.
But be careful not to overdo it - bombarding customers with too many messages can be confusing and have a detrimental effect on sales. As with the displays, it is important to plan the use of Point of Sale (PoS) materials.
PoS materials should be professionally produced - if not printed then created on a PC and laminated. Ensure they are changed regularly e.g. monthly or seasonally depending on the message being communicated.
At Your Service
And of course Customer service is a most important element in delighting customers, and will ultimately determine how successful your retailing operation will be.
Focus on initiatives and activities that will make the shopping experience more rewarding for customers.
Don't'forget to ensure staff are knowledgeable about the range of goods on sale, particularly any new lines that have been introduced. Provide retail training to help improve staff understanding of retailing principles and to gain practical advice on product sourcing, display and merchandising, and sales techniques.
Like many things in life, the WOW factor is not usually attributed to one single thing. Moreover it is the sum of the parts that have the biggest impact upon us. And sometimes it's the simple things that work best. And for others, less is more.