Happy Holidays from Storesupport!

It is that time of year again!  The turkey has been purchased, and all the fixings are ready for the table. Friends and family will gather to celebrate the season, and ring in 2015.

At Storesupport, we are getting ready for an exciting start to the new year, but we also want to take a moment to say thank you everyone for such an amazing 2014!

We wish you all the best this holiday season and for the year ahead! Happy Holidays!

The State of the Retail Industry: Getting Ready for 2015

2015 is just around the corner, and for many CPG companies this signifies a time to look back at the past year and both make some changes and improvements to things that require them, as well as strengthening those things that seem to be working really well.

Check out this infographic from Demac Media: Customer Analytics& The State of Retail Industry. Originally created in 2013 as an outlook 2015 infographic, there is information contained within that is still incredibly relevant – arguably even more important now with the continued rise of social media.

According to the article, there are a number of questions you need to be asking on a regular basis:

-       Do you know what your customers really want?

-       Do you actively attempt to illicit customer feedback, and furthermore, do you actually use that customer feedback to try and improve efficiency and service?

-       Do you have measurable in-store insights to generate analytics regarding consumer behaviour?

-       Are you using your customer analytics insight to influence your marketing and merchandising strategies?

These are all questions that need to be addressed, and on a regular basis. Not really being aware of what customers want can be seriously detrimental to your overall success. Additionally, knowing this information but not acting on it just represents a lost opportunity for further sales.

When it comes to customer analytics and the state of the retail industry, Storesupport can help you get ready for 2015. Make this your year. Call Storesupport today at 905.847.6513.

Storesupport Holiday Greeting

Storesupport wishes you all the best this holiday season! You’ve made our smiles bright this year –we hope we’ve done the same for you! Happy Holidays!


 

Visual Merchandising: Promotional Displays in High Impact Areas

Visual merchandising has long been a tried and true strategy for garnering consumer attention and interest – and for good reason. Studies continue to show that mass merchants benefit significantly from promotional displays in high impact areas, and as a result, those Canadian retailers that strive to influence buyer behaviour through effective displays are the ones that see results. It is no secret that customers make many of their purchases based on their reactions to how they are displayed and promoted.

By displaying merchandise in a way that appeals to the consumer, making it not only accessible but also attractive, retailers can easily increase sales and improve profit margins. Taking advantage of strategies such as colour psychology (using colours to encourage and promote certain feelings) or using nostalgia through visual stories to illicit memories and pull on those heartstrings can be a great step in the right direction.

Staging is also really important. Placing a display in the right location, whether that be at the cash register or in an aisle where the product is normally stocked, can make the difference between sales and drops. And making sure that displays are well stocked, always, ensures that the work you did to develop such a display does not go to waste.

Important tips: never let displays become static. A lot of what comes from an impressive and thought-provoking visual merchandising display comes from its freshness. A new display will not be passed easily, whereas one that has remained stagnant, in the same spot, month after month, will likely not even get a second look. Make sure that you are constantly updating your promotional displays.

Also, try to keep a focus or theme evident. Grouping a large number of products together can mean a message is lost in the shuffle. In contrast, displaying one product or a small family of very similar products helps to keep that focus fixed, or can lead to multiple purchases.

If we go one further, seasonal displays can have a major impact on consumer buying behaviour. Taking advantage of the season can influence consumers to consider a purchase that perhaps may not have crossed their mind beforehand. These last minute buys can be huge when it comes to your bottom line.

For more about visual merchandising, especially during the busy holiday season, contact Storesupport Canada today. We’ve got the experience with creating mass displays that attract attention and increase your sales. Please call us at 905.847.6513.

Knowledge is Power: How Do You Handle Retail Intelligence?

In the consumer packaged goods industry, knowledge really is power. Knowing what your customers want, and delivering the goods (literally), is a major part of the retail game. So, do you really know what's happening in the store? For brands in the retail environment, retail intelligence has become a vital source for information about how your brand is performing, and why.

Retail intelligence is a really critical part of any marketing and merchandising strategy. Garnering customer feedback and analysing and responding to this feedback is essential, but retail intelligence goes well beyond this. What are we talking about here? Here are just a few examples of the types of retail intelligence you should be considering.

-        Competitive pricing. Is your product at the right price point? Is your competitor’s product priced lower than your product, even when not on sale? If you are seeing a drop in sales, this information may prove incredibly useful in understanding why. On the other hand, if your product is priced significantly lower than the competition, this may symbolize an opportunity for increased sales.

-        Employee behaviour. Is your retailer’s staff engaged with your brand? Are they knowledgeable about your product, or are they endorsing your competitors product? These questions are really important when it comes to brand loyalty and brand reputation.

-        Quality assurance. You work hard to create great in store promotions and retail displays based on consumer analytics – so you have to make sure that these displays are being located correctly on the store floor, stocked well, regularly, and only with your product. Are prices accurate, are promotional items visible and available? This knowledge can help you to ensure that your deliverables are all being met.

-        Adjacency studies. Not only do you want to know what your product is doing in-store, you also need to be up-to-date on the competition. Getting information about where your brand is located on the shelf in relation to your competitor’s, what is their brand messaging is, and how their brand is treated can really help increase your own positioning.

When it comes to locating your brand at retail, make sure that you are aware of exactly what is going on on the store floor. Not only is this an intelligent way to ensure you are targeting consumers correctly, it also helps to ensure that your brand is receiving the treatment it needs.

For more about a retail intelligence campaign please contact Storesupport Canada by calling 905.847.6513. 

Online Shopping Vs. Bricks and Mortar, Some Interesting Insight

Over the last few months, we have talked a great deal about the impact of online shopping and the trend towards downsizing retail locations in exchange for a greater online presence. It is no secret that the convenience offered by online shopping has become a major influencer when it comes to consumer purchasing behaviour – but maybe we’ve gotten a bit ahead of ourselves in assuming that bricks and mortar downsizing is the way of the future!

Check out this recent article from the L.A. Times. According to the article, assuming that most companies are moving more towards an online-only existence is incorrect: “After years of squeezing traditional retailers, e-commerce companies that were once digital-only are seeing the value of hanging up shingles in malls and bustling shopping streets.”

Apparently many retailers are beginning to recognize the desires of different types of shoppers, and are acknowledging the fact that many shoppers don’t actually want to make all of their purchases at the click of a mouse. The sensory aspect of shopping in a bricks and mortar location is undeniably attractive to many consumers – and obviously something that can’t be found online. 

Although this is more significant for retail locations, it does has some important implications for the consumer packaged goods industry. The assumption has been that in the near future online grocery shopping will finally make a major move into the online world – but perhaps too much so. If this article is any indication of the way things are moving, continuing to ensure great service and customer loyalty will remain as important as ever.

To find out more about the impact of online shopping on bricks and mortar stores and how to continue to break through the competition barrier please contact Storesupport today by calling 905.847.6513.

Customer Service Dilemma – Are Your Customers Abandoning You?

We all know how important customer service is in the retail world; often customer purchases, and more importantly customer loyalty, hinge on the level of service someone receives. If you provide customers with what they want, they have no reason not to return, but if you can’t serve them, and serve them well, what is stopping them from heading to a competitor?

Check out this great infographic from Entrepreneur.com “The Skyscraping Cost of Bad Customer Service” http://www.entrepreneur.com/article/232580. We all know that customer service is important – but what is the real cost of bad customer service?

The true value of great customer service cannot be overstated. According to the infographic, businesses in the U.S. lose over $80 billion every year thanks to abandoned purchases and defections to the competition as a result of poor customer service. That is huge!

Some interesting and thought provoking findings:

-        89% of customers who receive poor service will abandon your brand for the competition

-        64% of customers say service is more important than price when it comes to brand loyalty

-        55% of customers would pay more to guarantee great service

-        64% of customers said that a company’s customer service reputation is very important

So what are you doing to ensure your levels of customer service are high enough to encourage loyalty and keep people coming back? How do you handle customer service both in store and online? Are your customers receiving the level of service you want, and if not, how can this be remedied?

                                             

For more about ramping up your customer service levels, Storesupport can help. Contact us today to find just how much merchandising services can positively impact your customer service levels. Call 905.847.6513.

Generational Brand Loyalty: 25 Vs. 50 – Is There Really a Difference?

It seems as though generational brand loyalty has become a hot topic in the retail world –and we agree that this is for good reason. It is more than obvious that buying behaviour differs depending on age, but it isn’t enough to just accept that they need to be catered to in different ways. Without knowing what is important, how can you even begin to understand and develop a plan if you don’t know what this age group wants?

Check out this great infographic from XYZ University. Based on the responses of over 2000 Millennials (aged 18-33), the survey found some interesting and insightful information that you can take to the bank.

Findings:

• 64% of Millennials responded that they believe they are just as brand loyal, if not more so, than their parents.
• 52% say that brands really need to listen to customer feedback and respond to it.
• Women are more concerned about consumer-focused brands, eco-friendly brands and those that have a focus on fair business practices.
• Why they choose certain brands:
• 62% responded that price or value is a factor
• 55% take recommendations from friends as serious influencers
• 47% say brand reputation is a key factor
• As far as what influences brand perception, social media (60%) follows only television (70%) as the most important outlet.

Ignoring generational differences can be detrimental to your overall marketing campaign, not to mention your brand loyalty.  Making use of these findings and catering to those generational differences can make a big difference.

For more about those generational differences that influence brand loyalty please contact Storesupport Canada today by calling 905.847.6513.

Retail Merchandising Trends for December 2014

The increasingly competitive consumer packaged goods environment in Canada has led to many stores taking significantly important steps in an attempt to distinguish themselves from their competitors. This has resulted in some exciting new retail merchandising trends that seem to be incredibly effective. With the holiday season right around the corner, what better time is there to employ some of these strategies to increase sales during what is arguably the most important time of the year?

Retail Merchandising Trends for December 2014:

1.      Less is more. A few years ago the trend seemed to be that busy was beneficial, but that seems to have changed dramatically. Now simplicity reigns supreme and retailers across the country are going for a far more minimalist approach. This doesn’t mean fewer displays though, it means displays that just don’t have too much going on. A strong focus or a central theme that is easy to understand with just a quick glance, as well as one that attracts attention at the same time, is a great way to influence buying behaviour.

2.      Eco-Friendly. The holidays can be a major downer when it comes to being eco-friendly, but that doesn’t mean that shoppers forget about the environment – so neither should you! Highlighting, as much as possible, your concern for the environment through your visual merchandising can garner huge support and therefore brand loyalty.

3.      Appeal to the senses. A one-dimensional display just doesn’t garner the attention it used to. Instead, get digital, and create an interactive experience that customers will remember. Use colour to draw on feelings of sentimentality. Touch screen displays that get customers thinking about various products can work wonders.

4.      Getting social. We all know how important it is to illicit a response both inside and outside your store, and social media has become an incredibly effective way to do this. A great trend for December 2014: create your own trend. Start a Twitter frenzy with a hashtag that gets people talking. Stimulate a buzz by marketing you promotions on all of your social networks.

5.      Recognize generational differences. One of the biggest retail merchandising trends, and not just for December, is recognizing and using generational differences in your merchandising strategy.

Which if these, or other, retail merchandising trends are you using this holiday season?

For more about retail merchandising trends for December 2014, or to get one started in time for this holiday season, please call Storesupport Canada today at 905.847.6513.