Trends That Are Transforming In-Store Strategy
Shoppers walk into stores with a fair amount of purpose. In fact, our studies reveal that consumers plan 65% of their category purchase decisions. The good news, however, is that shoppers haven’t made up their minds about which brands to buy within those categories, and that’s where the opportunity lies. Our studies on shoppers show that they make two out of every three brand choices in the store. In parallel, retail formats are diversifying, alongside an increase in categories and products – resulting in shelf spaces getting crowded. This means that brands have to work even harder to find their way into consumers’shopping baskets.
QUANTIFIABLE NEED FOR DRIVING IN-STORE STRATEGY
FMCG Marketers have been investing heavily every year on promotional elements, including point-of-sale (POS) merchandise, fixtures, brand image windows and several other assets to catch the shoppers’ attention while they’re in-store. India’s fast-moving consumer goods (FMCG) industry alone, pumps an estimated $1 billion or more on in-store execution every year. However, a mere 40% of these huge budget allocations across various categories actually get executed according to the norms laid out by brands.
ENSURING IN-STORE SUCCESS
As your consumers embrace multiple retail formats with equal ease, the time they spend with each format becomes even more valuable. And that means marketeers need to make the right instore decisions. We realise the importance of in-store growth in driving the success of brands, and we have identified three critical attributes to help win in store.