Key points for a successful and effective retail execution
Posted on 03/08/2018 10:27am
All around the world big companies fritter away a lot of money on the various types of tools and activities which are designed to grow sales. Among the other things, 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 case where we go to a shop in order to get our beloved chocolate produced by brand . But soon we see that the shelf where the chocolate used to be placed is completely empty. Just what would you do? Almost certainly you will grab a different one, and that’s it. From your brand perspective, when many people will behave just like you, the company will lose millions if not billions of dollars. Deserted shelf means no sales that simply equal no profits. Broadly speaking, Retail Execution comes down to all actions connected with the sale process for the final consumer.
Author: Carmen Rodriguez
The key point here is to gather adequate data from the stores and act right away. Is that even possible? naturally, it is - with the top-notch technologies and software we have nowadays. With that being said, we can easily monitor if our products are on the shops shelves and manage it any time. An excellent Retail Execution actions should provide also various in-store special offers to make our products more interesting to the consumers.
As we mentioned before, we can make use of customized application that will help us with preparing a good plan, with managing it and supervising all the steps we have chose to take. The most important part is the constant analysis and making conclusions out of it to see what does work and what’s not.