Who is Shopping: Retail Trends for the Months Ahead

We always like to keep you up to date on the latest retail trends in the CPG industry, and this week is no different. Over the last few months we’ve talked a lot about millennial shoppers, and how they are changing the face of grocery shopping. However, with this focus, we’ve neglected the other changes in consumer behaviour, and so today we right that wrong. 

Check out this great article from Canadian Grocer, “Look Who’s Buying Groceries Now,” http://www.canadiangrocer.com/blog/look-who%E2%80%99s-buying-groceries-now-55466. In it, Marion Chan takes a look at some of the other major players shopping in Canada today, mainly those almost always forgotten.

Who are we talking about? Historically women have almost always been the main shoppers in a household, but over the last few years this has changed. According to the article, today approximately 40% of men take on the responsibility of household grocery shopping. When you look at shared responsibility, where both adults take part, that number increases to 60%! That is a huge segment largely being ignored when it comes to target markets.

Earlier we mentioned millennials, and the focus being placed on this group - but Chan notes this may be a mistake as well: “According to Project Millennial, a study conducted at the end of 2013, 45% of boomer males claim to have the primary responsibility for grocery shopping compared to 24% of millennial males. This has risen consistently from an overall of 15% in the early 2000’s.”

Whoa, again, big numbers.

So how do male shoppers differ from their female counterparts? A few ways, the article notes:

- 60% of men are looking for a quick trip - in and out. 

- Man are not as impulsive, and their purchasing decisions are far more likely to come directly from a list.

- Men are less likely to be motivated by coupons, promotions and discounts - they are less price sensitive and typically don’t compare prices.

- 50% of men see a one-stop-shop as the priority, rather than price.

Marketing only to a certain segment of the population, primarily millennials, is something we’ve warned against in the past, and this information just cements that reasoning. In order to reach the greatest number, your strategies may need to be multi-pronged, but that will result in greater sales never a bad thing.

For more about retail trends and who is shopping (and how to target those shoppers) call Storesupport today at 905.847.6513.

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 Storesupport today by calling 1-877-421-5081.

The Changing Face of Retail Merchandising in Canada

No matter what you sell, if you operate in the CPG industry you know how important it is to keep up with changing market trends. Generational gaps as far as spending behaviours have likely not escaped your notice over the last few years – but are you taking advantage of all of the opportunities that these generational differences offer? If you don’t have a retail merchandising plan that considers them, probably not.

Baby boomers have long been the largest group being catered to – largely because they represent the largest group of loyal customers. But the old adage ‘if it’s not broken, don’t fix it’ will no longer mean profits in the long run. Ignoring those other generational groups which represent the buyers of the future is not going to do you any favours. Casting aside the fact that in the next 10-15 years they will represent the largest group of consumers, millennials need to be catered to in a very different way than baby boomers.

Now, now, now. Patience is often touted as a key virtue which millennials fail to exhibit. If a product is not where it should be, or if it is not in stock, most millennials are just going to turn to the next best thing – and if they like that product, what is to stop them from purchasing it next time?

Price vs. quality. Millennials tend to be more price sensitive than baby boomers, and so making sure that products are labelled correctly is also important. If a product is priced incorrectly, the cheaper product might be what makes its way into the shopping cart.

So how can you overcome these all too common challenges? Consider working with a retail merchandising company that can provide a suite of services which will help to ensure that your product is where it should be, in stock, and being marketed the way that you want.

Planogram compliance: You have spent the time and resources researching which planogram will be the most effective, so enlisting the services of a retail merchandising company allows you to ensure your expectations are being met.

Quality assurance audits: Are products priced correctly? As mentioned, price sometimes exceeds quality on the wanted list, so making sure that your product is not being overshadowed is crucial.
Mystery shopping: Are employees stocking shelves in a timely manner? Are they able to provide the correct information about your products? A mystery shopper can answer these questions and give you the ability to fix any issues.

Retail merchandising in Canada represents a vital tool by which to attract both those millennials and baby boomers with different marketing tastes. Don’t cast one aside in favour of the other.

For more information about the benefits of retail merchandising in Canada, please contact Storesupport by calling 1-877-421-5081 or visit www.storesupport.ca.