Merchandising

In-Store Execution: How to Slay the Competition

Even if you have the best product on the market, your brand cannot experience success if you’re being overshadowed by the competition. A solid in-store retail execution strategy is your secret weapon for driving retail sales and staying afloat in this ultra-competitive environment. To come out on top, CPG companies must keep their products properly stocked and be able to capture shoppers’ attention at the store level. Being diligent about these details will give your brand the edge it needs to stay relevant in the marketplace.

 

Store Merchandising

One component of a supplier’s in-store execution toolbox is merchandising. While this area of a retail strategy has several facets, companies should focus their attention on preventing out-of-stock instances. A sizable 37% of consumers will choose another brand if their first choice is unavailable.

Retail merchandising best practices for preventing stockouts include:

  • Preparing for seasonal spikes in purchasing
  • Maintaining accurate inventory data
  • Performing data-backed demand forecasting
  • Properly training store merchandisers
  • Implementing efficient processes for shelf replenishment

 

 

 

Planograms

Planograms enable brands to ensure their in-store execution strategy is being upheld. Including planograms as part of a retail store audit makes it easier for merchandisers to verify that each SKU is located exactly where it needs to be. In addition to promoting profitability on the shelf, planograms are useful for creating consistency across retailers, thus improving brand recognition.

 

 

Use this Planogram Template to ensure your products are properly stocked at every retail location! >>

 

In Store Displays

While adequately stocked shelves can have an impact on purchasing behavior, brands first need to draw consumers to their products in the store. One of the best retail sales techniques suppliers have at their disposal is in-store displays. Creative, innovative point-of-purchase displays and signage help your brand stand out amongst the noise and conveys a memorable message to shoppers.

Consider the power of high tech in retail as part of your in-store execution strategy. An interactive experience is far more engaging than a static display and thus can drive sales even further. Ksubaka, a tech company that specializes in gamified in-store displays, shared the results of a project for its client, L’oreal. The company created a racing game that consumers could play on iPads located nearby L’oreal products in the store. As a result of this campaign, the brand experienced an 8% sales uplift for the product line and a 79% sales uplift for the entire category.

 

 

The retail space is more crowded than ever, and your brand needs to be at the forefront of consumers’ minds in order to survive. Two aspects of retail execution that are in a supplier’s control are how well-maintained their shelf space is and how effective they are at driving foot traffic to their brand. Keeping this in mind will allow you to keep the competition at bay and boost in-store sales.

Victoria Vessella

Victoria is a Marketing Associate at Repsly, where she leads the company's P.R. and social media efforts. You can also catch her prepping for slew of exciting industry events. A New England native, Victoria has spent time living in Italy and traveling throughout Europe before settling back in Boston. When she's not planning her next trip, V is probably tasting wine or brushing up on her Italian.

Add to the conversation below

Comments

Latest Posts

3 Min Read

Trade Promotion

6 Essential Trade Promotion KPIs to Maximize Success in the Store

Melissa Sonntag

What good is any business action if you can’t measure the success of it? Such is especially true when it comes to trade promotions. While many teams understand the importance of KPIs that..

3 Min Read

Trade Promotion

How to Take Your Trade Promotion Management to the Next Level

Melissa Sonntag

CPG companies spend huge amounts of time and money on trade promotions, yet over 40% of companies aren’t satisfied with their ability to manage them. With so much on the line, more and more brands..

2 Min Read

Trade Promotion

How Trade Promotion Optimization Can Improve Your Overall Promotion Strategy

Melissa Sonntag

According to the Promotion Optimization Institute's 2019 State of the Industry Report, CPG companies spend between 11% and 27+% of revenues on trade promotions. With such a large investment, there..