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.