Tips for a successful and effective retail execution
All around the world big companies spend a lot of cash on the different types of tools and activities which are intended to improve sales. We can say that the most popular term in this field is Retail Execution.
Author: Michael Johnson
Let’s have a closer look and see what is it all about.
Let’s imagine a situation where we visit a shop in order to buy our beloved chocolate produced by a particular brand . Then, we see that the shelf where it used to be stored is completely empty. What would you do? Most probably you will grab a different one, and that’s it. From the brand perspective, whenever more people will behave as if you, the company will lose a lot of money. Deserted store space means no sales which equal no profits. Broadly speaking, Retail Execution comes down to all actions connected with the sale process for the ultimate consumer.
Author: Carmen Rodriguez
The particular key point here is to capture real-time data from the stores and act right away. Is that even feasible? naturally, it is - with the modern technologies and software available out there. With that being said, we can easily monitor if our products are on the stores shelves and manage it if needed. A good Retail Execution actions should provide additionally various in-store promotions in order to make our products more interesting to the customers.
As we notices before, we could take advantage of customized software that will help us with creating a nice strategy, with managing it and monitoring all the steps we have chose to take. The most important part is the frequent analysis and drawing conclusions from it to see what does work and what’s not.