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- As consumer confidence grows – so should your in-store presence!
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AS CONSUMER CONFIDENCE GROWS – SO SHOULD YOUR IN-STORE PRESENCE!
Many clients that followed our advice to re-align scarce advertising dollars into targeted POP marketing tools during the depths of the recession not only kept their visibility up, they kept their sales up. With growing consumer confidence, in-store is even more important to your marketing mix today!
It seems Canadians may be a little better off than our American neighbours during this recession, however, consumers are still worried about the state of the economy. The national saving rate has gone from 0% to –7% in less than 2 years. But there is an upside: consider a recent The Globe & Mail article headlined, “Shoppers’ spending spree puts recession on the run”. Amidst rising stock markets and a rebound in housing prices, a report cited in the article showed that retail sales increased five times faster in June than Bay Street economists had predicted. So it is not about money…the consumer in this recession has the money…It is all about consumer confidence!
DURING YOUR BIGGEST RETAIL QUARTER ACHIEVE GREATER ROI WITH POP
If your Advertising and Marketing programs were cut back or not activated in the previous 3 quarters there is only one quarter left to capture sales and build brand awareness. And this is the biggest retail quarter – the run up to Christmas is typically known as the fall entertainment season. A solid marketing plan obviously still requires above–the–line marketing for branding and awareness; however, a shopper is a shopper whether he/she is in Loblaws, Sobeys, or Costco. The reality is self–evident; just ask yourself, how many times have you as a consumer walked into a store and been influenced by in–store messaging to make an impromptu purchase? Without question, the retail environment is the battlefield.
I read an article recently by Jamie King, president of Euro RSCG Chicago, who stated: “The biggest risk is to not take a risk at all”. When I do my weekly walk–about in stores it is fascinating to see how little is being done at retail to enhance the customer buying experience, in category after category, from Grocery to Home Improvement to Automotive to Department Stores.
From left to right: Marks Work Warehouse Pant Organizer, Hindle Exhaust System Corrugate Standee, Sony S–Air Display and Little Ceasar's Dips Display.
TAKE ACTION NOW TO DEMONSTRATE YOUR LEADERSHIP
Knowing that the consumer has money to spend we need to work on building confidence and make it easier to buy. How? In–store is ideal for helping you connect the visual cues from TV, magazines, Web or OOH to coincide with the customers expectation when shopping in the store. A recent study by Dexigner.com sighted lift for CPG brands for on line ads raised sales by 9% on in–store activities.
The store is where the consumer’s wallet and your product meet and a decision to purchase is made. Here are a couple of ways you can take advantage of growing consumer confidence:
• Promote your brand in–store this fall. It will give your consumers confidence that you are in the game, even if it’s only a packaging splash or a simple shelf organizer to draw attention to your brand in–store.
• Commit to developing a strategic shopper marketing plan. The fall is typically the time that most brand plans for the New Year are flushed out, including determining the marketing and advertising spend, new product introductions, new packaging, and new promotion programs. Most planning is sometimes as much as 12 months ahead of implementation. However this year from conversations with our customers, it seems a lot of brand managers continue to be very cautious about marketing investments.
A well planned and strategic shopper marketing plan will not only increase your customer confidence it will increase your ROI.
DELIVERING CONTINUITY AND INGENUITY TO SELL MORE IN–STORE
Our world is in–store with a focus on closing sales effectively and efficiently through strategic merchandising strategies that deliver both continuity and ingenuity to ensure you connect with the consumer. For example, we can help you extend your brand, create a powerful call to action and drive brand loyalty with innovative solutions like semi–permanent or permanent in–aisle displays, merchandising programs or web campaigns. Or create a presence around the store in non–traditional ways, by utilizing signage and creative way–finding techniques to direct consumers to your offering.
There are things you can do as well. Analyze your in–store category, talk to your retailer about communicating the category and your brand, collaborate on methods to close more sales and increase the category. Remember the retailer is not interested in switch sales but plus sales, so demonstrate to them how to do this with an effective in–store strategy.
If you are considering how to best allocate your marketing dollars for the next quarter, now is the time to apply Brand New Thinking to your brand, your in–store strategy and your future. Talk to one of our experienced in–store marketing executives today.
Bob Gorrie, Chairman & CEO
