All around the world big companies spend a lot of cash on the several types of tools and actions which are intended to grow sales. Among the other things, the most popular term when it comes to this matter is Retail Execution.
Let’s have a closer look and see what is it all about.
Let’s think about a situation where we visit a store in order to buy our beloved chocolate made by a particular brand . But soon we see that the shelf where the chocolate used to be placed is totally empty. Exactly what would you do? Most likely you would take another one, and that’s it. From your brand perspective, when more people will behave like you, the company will lose millions if not billions of dollars. Deserted shelf means no sales that simply provides to zero profits. Basically, Retail Execution boils down to all actions connected with the sale process for the ultimate consumer.
Typically the key point here is to capture real-time data from the stores and work imMediately. Is that even feasible? Of course, it is – with the top-notch systems and software we have nowadays. With that being said, we could easily monitor if our goods are on the shops shelves and manage it any time. A good Retail Execution strategy should provide also different in-store promotions to make our products more appealing to the clients.
As we notices before, we could make full use of customized application which will help us with creating a nice plan, with execution and supervising all the steps we have decided to take. The most important part is the constant analysis and making conclusions from it to see what does work and what’s not.