Business Marketing Blog

Retail stores become consultants in detail because of the prize-sensitive customer

With large stores, it is difficult to reduce prices further. With the accessibility of these low prices for all, the question arises how important it is to offer value-added promotions to the customer? Clare Rayner, Retail Acumen’s blog writer made an interesting observation of the multichannel summit he attended in England. The main speaker was Walmart Doug Gurr. In his speech, Mr. Gurr noted that in Japan, mobile technology allows buyers to scan item bar codes in stores and that an application provided by Amazon allows buyers to compare the price in store with The price of the Amazons. This type of price transparency is a reality and will be available for everyone wearing an intelligent mobile device.

On the other side of the Atlantic Ocean, the National Retail Conference took place and Winston Weber, a speaker, cited a study that showed 50% to 60% of all purchase decisions are Make in the retail store. Therefore, the store remains important for retailers. It also believes that if value-added promotions may not be effective, retailers must start promoting what he calls solutions. In other words, retailers must become their own “consultants in detail” and start developing a customer-centered retail model. This requires developing a Shopper solution strategy so that the customer estimates that the trip to the store has been productive. The trick is that this requires a new creative approach to the merchandising process.

The merchants and their category leaders should refocus their efforts to obtain the best provider offer to develop retail solutions for clients that can transcend categories. To do this, Mr. Weber States Category leaders can not be forced to focus solely on their own key performance indicators, but emphasize the overall retailer’s benefit. Then they could create a grouping of products that would increase global sales and improve customer satisfaction. To become “retail consultants”, an element of cooperation is necessary to satisfy the customer and achieve the best suited results for society.

This could be difficult to accomplish the long-standing culture of retailers where category management works in silos. This is why it is imperative that retailers become “consultants in detail”. If a central commercial model is implemented, the category managers can work together to focus on the most important for each of their customers and facilitate their lives. How many times parents bought a basketball for their children, but I forgot to buy them a jersey that would be in a different driveway. Now, life will be easy because they are grouped together for a promotional price. The way to convince the retailer that it is a good idea is to introduce analyzes to the process.

In a research report published by IDC, they cite a case study in which a manufacturer of electronic devices and high-tech components has managed to reform the R & D allocation process by promoting cooperation between laboratories. R & D competitors in the allocation of resources when the data showed that it was in the best interest to the company to do so. Retailers can follow this example and merchandising allocation and link promotion systems and promotional systems to provide timely and convincing customer offers on several channels that will experience consumers. Consumers. If this can be accomplished, retailers really become retail consultants for their clients.

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