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Merchandising in Sports
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Flashcards
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Licensing Agreements
Licensing allows brands to sell products featuring popular sports teams or athletes, boosting sales due to the fans' loyalty.
Promotional Merchandising
Promotional merchandising involves temporary discounts or deals on merchandise to drive traffic and increase sales volume.
Point of Purchase Displays
Point of purchase (POP) displays are used in retail locations to catch the consumer's eye and promote impulse purchases, thereby increasing revenue.
Limited-Edition Merchandise
Offering limited-edition items creates a sense of exclusivity and urgency, encouraging quicker and often higher-value purchases.
Innovative Product Design
Innovative product design in sports merchandising sets products apart from competition, making them more attractive to consumers and potentially increasing sales.
Data-Driven Merchandising
Data-driven merchandising utilizes consumer data analytics to tailor product offerings and marketing strategies, aiming for higher conversion rates and sales.
Price Bundling
Price bundling is the practice of selling multiple products for a single price, which can promote the sale of less popular items alongside bestsellers, increasing overall revenue.
Athlete Endorsements
Athlete endorsements leverage the popularity of sports figures to promote merchandise, influencing their fan base and increasing the likelihood of purchase.
Online Merchandising
Online merchandising uses e-commerce platforms to reach a wider audience and sell sports merchandise, leading to increased revenue with relatively low overhead costs.
In-venue Merchandising
In-venue merchandising targets captive audiences at sports events to sell products directly, often at higher margins due to convenience and high demand.
Visual Merchandising
Visual merchandising includes store layouts and display strategies that enhance product appeal and shopping experience, leading to increased sales.
Seasonal Merchandising
Seasonal merchandising involves adjusting product offerings based on season or event, capitalizing on the related increase in consumer interest to boost sales.
Co-Branding and Sponsorship
Co-branding and sponsorship involve the association of one brand with another during events to enhance visibility and credibility, thus improving merchandise sales.
Loyalty Programs
Loyalty programs reward repeat customers, increasing customer retention and long-term revenue by encouraging ongoing purchases.
Cross-Merchandising
Cross-merchandising suggests the sale of complementary products from different categories to increase customer spend and thus retail revenue.
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