Going Digital…Are You Targeting Through Digital

Over the last few years, digital has become the trend in retail. Keeping in touch with consumers, engaging them and motivating them to purchase has become far easier when digital is embraced. So, have you gone digital? Are you targeting your customers through digital?

Here are the top 3 digital trends sweeping the retail industry in 2015:

Social media. Social media continues to be a major player in the retail game. Before social media, people used the internet primarily to research products and compare prices. However, although that remains an important part of digital, far more is now done online, specifically when it comes to social networks and reputation. 10 years ago, not having a website was common. 5 years ago, many companies still had not jumped on the social media bandwagon. In 2015, both of these are gone the way of the horse and carriage - a few hangers-on still try to stick with tradition but it is becoming harder and harder. Now, people head online not just to research price, but to read reviews, get recommendations, find out what others in their networks are saying about different companies. Ignoring this fact can be detrimental - social media definitely needs to be embraced.

Marketing through email. Being asked for your email address at the register has become commonplace, and for good reason. Marketers are celebrating the value of email marketing for retail in a big way. It is a great way to keep customers informed, and especially when they are provided with something of value, is a great way to get them into the store. Just make sure to balance out the promo and don’t be sending daily emails - too much and that unsubscribe button will be getting a work out. Keep emails short and sweet - weekly deals, promos, etc. are a great way to keep customers connected with your brand or retail location.

Digital signage and interactive retail displays. Customer engagement offline is becoming just as important as online, and it too has gone digital. Digital signage and interactive displays are a great way to grab attention and get customers talking. This is especially popular with newer products or brands. Create an emotional connection, draw on seasonal tradition, anything that will make a customer stop and think is a worthy addition on the retail floor.

No matter the industry, going digital is now a necessity, and with CPG it is no different. Are you taking advantage?

For more about going digital in the retail arena, please call Storesupport today at 1-877-421-5081.

Challenges Facing the Retail Industry

The consumer packaged goods industry is an ever-moving, ever-changing mechanism. Adaptation is key, and with technological developments and rising consumer demands, it can be hard to keep up.

That being said, these changes are not the only challenges facing the retail industry in 2015. Here is a list of some of the others. And of course we are not just going to give you the issues - we also have a few solutions to help make these a little less difficult to face.

Problem: Employee turnover. This is a problem every retailer faces - it is a major problem in the retail industry - and often there is little that can be done to stop it. When an employee enters, then leaves your company, this can create problems for your human resource department, and means a loss of time and resources spent continually hiring and training new employees.

Solution: 3^rd party people support. A company that can provide short notice employees with training and experience can help you mitigate those costs and ensure excellent service and assistance.

Problem: Auditing. For brands located at retail, keeping on top of what is going on on the store floor can be challenging. This is why auditing is another challenge that faces the retail industry on a regular basis.

Solution: You can’t be everywhere at once, but a merchandising company that offers this service can. Not only will this provide you with up-to-date data about competitors’ price points, you can also ensure that customer satisfaction is high - and if not, amendments can be made to improve the situation.

Problem: Allery alert/product recalls. Improper labelling, errors with packaging, issues with ingredients; these are all accompanied by costs for remedy and time and resources spent. They can also mean time with empty space on the shelf, which is never a good thing in retail.

Solution: Emergency response services for retail. When you are made aware of a product recall, whatever the reason, manage the outcome to ensure a positive result. If possible, consider bringing in a team to fix the problem on the spot, rather than worrying about shipping product back to the warehouse. This saves money and time and also keeps the empty space to a minimum.

When issues arise, don’t stress. Let Storesupport Canada help you overcome these challenges facing the retail industry. We have the knowledge and experience to help you save money an increase efficiency. Call us today at 1-877-421-5081.

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.

The Future of the Retail Industry

It is no secret that the retail industry is in the midst of a customer revolution. With the rise of online shopping, the more recent trend of retail downsizing to compete, and the impact of generational differences when it comes to consumerbehaviour, retailers are faced with an abundance of issues that take time and resources. The future of retail, for many, has become something far more nebulous than in years past, and seems to be changing even more quickly than ever before.

The impact of social media. Social media giants like Facebook, Twitter and Instagram have all taken a strong position of influence in the retail world – and when it comes to customer service the impacts are often incredibly tough to deal with. It is increasingly common to find individuals taking to their social media platforms and venting about poor service, thereby influencing their own followers and shaping consumer behaviour. Now, more than ever, both brands and retailers need to be cognizant of the fact that social media plays a major role in shaping purchasing decisions – the numerous studies can’t be refuted at this point – and thus it needs to be taken seriously. Stop trying to avoid social media, or its impacts on the retail industry – this isn’t going to go away.

The impact of online shopping. No matter the sector, online shopping has come to dominate a large segment of retail purchases. The ease and convenience of shopping online, from anywhere, has led to many changes, including retail downsizing, in order to compete. Even the CPG industry is feeling the heat and dealing with the emergence of online grocery shopping (albeit to a lesser extent) – and drive-thru groceries are springing up across Europe and the US – their eventual emergence on the Canadian scene is inevitable.

The impact of emerging US retailers in the Canadian market. It seems that those big box stores that used to attract customers shopping south of the border have come to dominate in the Canadian market, and this has meant a decrease in sales and brand loyalty for many bricks and mortar locations. On the plus side, however, some retailers, having made the move north, are now finding themselves faced with unforeseen challenges in what has proven to be a very different market. Regardless, as U.S. stores continue to make the move upwards, Canadian retailers will be forced to consider changes of their own to keep sales up.

The future of the retail industry as it stands is tenuous, and unless you are keeping track of the ever-evolving changes, you will quickly find yourself at the back of the pack. Stay informed, and make the changes necessary to remain in the market.

For more about the future of the retail industry and how you can continue to compete, please contact Storesupport today by calling 1-877-421-5081.

Shrinking Your Store – Some Considerations for Retail Downsizing (or ‘Rightsizing’)

The impacts of online shopping are not news to the retail industry. Over the last few years, many stores have had to make significant overall changes brought on by web-savvy shoppers and their hunt for the best deal with just the click of a button. Retail downsizing, or rightsizing as we like to call it, has become a much more normal occurrence, especially for smaller bricks and mortar locations looking to stay relevant and deal with the onslaught of online competition.

Check out this recent release from Bloomberg Businessweek – “The Smart Way to Shrink Your Retail Store” - http://www.businessweek.com/articles/2014-05-09/the-smart-way-to-shrink-your-retail-store. In it, the author references the recent trend of retail downsizing: “Retail space isn’t what it used to be. More people are browsing and buying online. Stores can get products faster from manufacturers, so they don’t need as much space to warehouse inventory. Small businesses are thus moving to smaller storefronts to lower costs.” And the main piece of advice offer: have a plan!

Even in the CPG industry, where the competition is a bit less stifling, there has still been a push to deal with those big box franchises. And yes, retail downsizing has made its way here too. So, if changes in the online marketplace have necessitated a change in location, or rather a rightsizing of your current location, the best thing to do is develop a plan to ensure that the impact this transition has is as positive as possible.

How? Enlist the services of a company that can help you carry out this change without a hitch – one with the knowledge and experience to conduct a shift seamlessly, as well as the additional people support to maintain high levels of customer service during the move and avoid any pitfalls along the way.

For more about conducting a retail downsizing that won’t have any adverse effects, please contact Storesupport today by calling 1-877-421-5081.