The Power of In-Store Merchandising
Selling in a product at corporate level isn’t the end of a great sales pitch. To ensure your product is successful it must also be stocked, merchandised and promoted appropriately. In this post, BATeam shares four examples that demonstrate the power of in-store merchandising.
NACS Fuels Resource Center suggests that 45% of drivers filling up with gas go inside of the convenience store to buy food and beverage, or use the ATM or restroom. This is the opportunity to capitalize on those footsteps. Below are four examples that outline the importance of in-store merchandising.
1. Creating Impulse Buys– Depending on the category, a large percentage of purchase are bought without being on “the list”. To ensure your product is purchased without making it to the list it needs to be presented well in store. POG placement is important as well as signage and off-shelf displays. Ensuring your product is well stocked, in code, presentable and signed are the basics to creating those impulse buys.
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2. Developing Additional Points of Interruption– Off shelf displays go a long way in capturing your consumers’ share of wallet. Placing an appropriately sized off shelf display (floor displays, PDQ’s, side wings, etc.) can really convert a sale. Your potential consumer may not walk down the aisle that your product is located; however, a display placed outside of your aisle could close the deal. Ensure displays are placed in high traffic areas to get the best results.
3. Avoiding Blind Sales– A blind sale is when your product is purchased on promotion but the shopper wasn’t aware of the promotion. The customer was willing to make the purchase at full retail. This may be the result of missing promotional signage – if that’s the case it could be more detrimental to the account than blind sales. The account could also lose sales to potential shoppers that aren’t willing to convert at the regular retail. To ensure you avoid blind sales make certain that you have a process in place to get promotional signage to the shelf.
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4. Drive Trial– If you’ve been successful at selling an innovation item into a chain, it’s loaded on the shelf, it’s promoted and it’s well signed you’ve got a great recipe to get a new customer to pick up that item. Consumers can be hesitant to try something new but if you’re able to create a compelling story at the point-of-purchase you could create a customer for life.
Business Accelerator Team is an outside-in catalyst assisting with insight, strategy, marketing and connections. Our consultancy provides business-development expertise derived from a deep understanding of what has worked with suppliers, retailers and media in retailing and foodservice. If you would like to learn more about how Business Accelerator Team can help you improve your in-store merchandising, contact us for more information.