Retail Outlet Health Check
Do you have a physical bricks and mortar store? Do you also have a website and are offering products over the web?
In this day and age most businesses have a website where they can offer potential consumers their products delivered quickly and conveniently. If this is currently your business great news, as online expenditure in the UK is forecast to grow by 45% in the coming five years.
However if currently your business is bricks and mortar and online isn’t yet the biggest area of your sales then you need to ensure your shop is at the top of its game to ensure you convert sales. The backbone of all marketing in my opinion stems from the principal that you need to consider the 4ps – Product, Price, Promotion and Place. If you can get these things right for your customer, then the marketing tools you use to communicate your brand, product or service will all work together in helping you maximise sales or service usage. 360 degree planning and implementation of all business activities is vital for a strong marketing mix.
I have over 20 years’ experience working within the retail sector and have managed product ranges for retail outlets such as Currys, Dixons Retail, Morrisons, Sainsburys and Argos.
I have extensive knowledge of product management including competitive pricing, promotional planning, point of sale, signage, advertising, product life cycle management and new product launches.
Therefore if you have a retail outlet and would like some advice and feedback on your current consumer offering and to hear possible ideas on how to improve your environment for the consumer, then you may wish to have a Retail Health Check?
The areas my health check can cover are as follows (but can always be adapted based on your brief and what you feel are the ‘pain points’ within the stores)
- Product ranges, depth, distribution and availability (place)
- Observations on current in store product or category point of sale
- Communication messaging for promotional activity, promotional planning
- Merchandising layout and key selling areas
- Customer way finding signage and product category focus
- Your pricing and competitor price analysis
- Identifying ways to increase basket spend
- Your ‘Brand’ identity in your sector
I appreciate the above may sound slightly old fashioned / traditional in terms of marketing practices compared with the ‘buzz’ of today’s digital world of consumer purchasing. However, my experience tells me that you need to consider these fundamental areas to ensure that consumers leave with a purchase and with the belief that your business has provided them with what they needed on that visit. If they leave happy they will be loyal to your business and trust your brand in the future.