Here are Solid Tips to Improve Retailer In-Store Execution

Retail product manufacturers spend a lot of time, effort and money placing their product with a major retailer such as Walmart, Home Depot or Best Buy. However, no matter how much planning goes on in the corporate purchasing office of these big retailers along with their product vendors, there is always a chance that the particular product does not make it to the shelf on time, or its price is wrong, or It is probably the merchandise in the wrong part of the store execution that causes the end customer to shop elsewhere.

Seeing the product not displaying correctly on the shelf is probably the biggest common frustration from both the retailer and the manufacturer. Retail stores have a lot of functions on their list. From prompting the end customer for the latest promotions, some of the items on their list don't really work, such as unfortunately placing your product on the shelf.This is something that usually happens, especially if they are concerned about opening their stores on time. For example, if you examine the grand opening in 2020, all of these stores will have the same issue regarding missing stock or other misfortunes when it comes to getting products on their shelves.

Here are 3 tips to improve your in-store execution with retailers.

1. Conduct periodic in-store checks

This is a very important tip, especially if you are a first-time product vendor with a major retailer. As many new product vendors discover, "the clock is ticking" as soon as their products are received by the retail store and its' imperative 'that the product is on the shelf with the right price. In corporate, the retail buyer is looking at his daily sales report and if your products are not reported for sale, there is a very good chance for your company and its products will not be for the next Plan-O-Village refresh.

Conducting periodic checks of stores to make sure your product is not in the stock room is rather very important on the shelf. When you are not allowed in the stock room, you can ask the sales associate to see if your product is there if you do If you do not have the resources to conduct in-store checks, consider 3rd party investigation such as RetailBound, which offer mobile in-store retail audit, which provide both photos and quantitative data.

2. Simplify the execution of your product in-store

The easier you display your product, the greater the chances of success. While this seems common-sense, many product vendors do not have to think about the execution of their product when they plan a strategy for the retail retail market. They feel that once. The product is sent to the retailer, it is their responsibility to sell the product, not the vendors. This is definitely wrong. It should be a partnership between the retailer and the product seller. You both share a common goal --driving sales!

Ensuring that you have the right inner pack / master pack for a shop filled with corrugated shipper or clip-strip with the product in your warehouse will definitely improve in-store execution of your product strategy.

3. Measure results

Retail buyers have many software tools at their disposal to help them run their business. As a product vendor, you want to continuously monitor the performance of your products on the retail shelf. Which markets have the most sales? Which retail promotion was most effective? Which stores have the most shrinkage (ie theft of your products). Some retailers give weekly or monthly reports to their vendors. Others must pull the report upon request. Either way, you want to check sales at the minimum monthly to see if there are Any discrepancies. If sales seem low for a particular area or market, volunteer to check out those stores to see if the issues may lie. Perhaps your product was priced incorrectly or was located in the wrong location of the store, which may result in lower retail sales. Retail buyers have managed hundreds or thousands of products,So it is in your interest to monitor them. If you notice a drop in sales, be proactive and reach out to the retail buyer for help. Working with your retail buyer will help fix in-store issues and hopefully get your sales back on track !!

PPMS is No.1 merchandising service company in India, offers store execution to imporve your brand product performance in retail store. Enquire us for your assistance and your brand sales revenue.