Food for Thought: Retail Merchandising in the CPG Industry
The CPG industry is unique (those of us who work within it know this) and as a result requires unique retail merchandising techniques. And using one tactic nowadays is often not nearly as effective as employing a range of techniques that cover a number of different bases.
In an effort to help you brush up on the most effective trends in tactics in the retail merchandising world, here is a list of the top ways to keep people buying.
1. Experiential Marketing. Brands: one of the best ways to get customers purchasing is to have them try your product. Sometimes just seeing your product on the shelf won’t be enough to influence someone to buy – especially if the product is new – but offer the chance to test the product and the results will be inevitable.
2. Recognizing Generational Difference. Brands and retailers: this is one of the most important things when it comes to targeting and reaching all of those in your market. In the past, many brands and retailers alike have chosen to focus their attention on a one-size-fits-all approach, without recognizing the differences and how to target each group. Instead, make use of the vast amount of research that has been done on generational differences in the CPG industry and incorporate those learnings into your retail merchandising campaign.
3. Retail Intelligence: Brands: keeping on top of what’s going on at retail is crucial for your bottom line, and one of the best ways to do this is by keeping an eye on how retailers are handling your product. Retail intelligence through mystery shopping, planogram compliance and promotional execution can give you a leg up and help you maintain control. This means ensuring employees can answer questions that shelves are stocked correctly with your products, and that special promotions are in the right location.
This also means paying attention to planogram compliance. If you have spent the time developing a planogram based on your research, don’t just trust that it is being executed properly – take advantage of a company with experience with ensuring planogram compliance to maintain control.
4. Social Media. Brands and retailers: we continue to stress the importance of taking advantage of social media, and for good reason. Social media has become an important avenue when it comes to bringing in sales, both through the ability to influence sales and to improve in store (customer service). Make sure that you are staying in tune with customer expectations, and responding when necessary.
Don’t fall prey to the assumption that one-size-fits-all, or that using one method to attract attention is going to work for all shoppers in all situations. For more about retail merchandising that works, please contact Marketsupport today by calling 1-877-421-5081.
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