November 23, 2016
Snacks have always been a staple in convenience stores across the nation; they are highly sought after every year. The attitude of the consumer is changing at the moment, however. Snack foods are still in demand and still will be for the foreseeable future, but in this case, one theme is beginning to prevail: health. (more…)
November 21, 2016
The Industry’s new secret for increasing retail sales by 20% in 2017
The retail world has operated the same way for decades. Historical performance is measured by ACV, share of category or total dollars sold. Sales VPs are continually pressured to do more with less people and grow overall sales. Companies are continually playing the cat and mouse game of ongoing promotion cycles and incentives with distributors and retailers that create immediate sales but never really sure if they have ROI or grow the overall category.
What if we told you there was a simple way you could increase retail by up to 20% without adding any new product lines, changing your trade promotions, or hiring more sales people? Interested?
Well not only is it possible, but for those who don’t start adapting to the Industry’s new way of retail you are very likely to get left behind with eroding market share.
The secret is not really a secret, more of a movement. The 20% lost sales has been occurring for decades, but most companies feel helpless in doing anything about it. Missed promotions, wrong placements, out of stocks, out of compliance planograms. All the common retail execution challenges you have been fighting (or ignoring) for years are the answer to finding a quick 20% increase in sales.
The issue in the past is that due to fragmented data, communication, and time lags most companies have been helpless to impact this. By the time they realize execution of a promotion or new set is off, the window to fix it is already over. Or, if working through brokers or trying to get attention of retail buyers to help fix, they feel helpless and with little control to impact.
A movement in the Industry has begun to change this. This problem is not just a supplier problem, but brokers, distributors and retailers all benefit when these issues get resolved.
One reason for this problem not getting fixed in the past is that the measurement system has been very much outdated and underpowered to handle. Companies are solely relying on Scan or shipment data, which tell you what already happened, not what needs to get fixed. Sales and category managers have been stuck with archaic reporting systems. Companies collecting data from their field reps with apps are only getting a partial story with limited ability to impact broader retail opportunity.
The movement in CPG is to rethink the entire approach of data, mobile solution, crowdsourcing, and retail performance and make data actionable and real-time for sales teams. The movement is to look at not just data, but in-store pictures and activity in real-time. The movement relies on not just field teams, but on third party solutions and advanced automation to help ensure fixes occur.
In future blogs we will provide more examples of category leaders putting this into action.
Time to make 2017 the biggest growth year yet. You can do it by simply fixing what is broken!
For customized best practices, examples in your category, or a free audit in one of your key accounts click here.
November 18, 2016
In school, 30 percent is a failing grade.
In marketing, 30 percent is … well, it depends.
This just goes to show that marketing isn’t about science. If it were, every single marketing initiative in every industry would have a single set number as a guidepost to determine success. But the reality is that marketing success is contextual – it depends a lot on the products being marketed, the audience and the environment in which the product is being marketed.And in the context of grocery and convenience stores, a 30-percent success rate (also known as a “compliance rate”) can be seen as more of a baseball result than a school report-card result.
November 10, 2016
November 7, 2016
Convenience stores are known partially for their assortment of food, amongst other things. Most different types of industries have their characteristics in general; outlets have clothes/shoes, stores like Best Buy are known for their electronics, and fast food places are associated with a drive-thru. However, will the latter apply to gas stations as well? That surely isn’t something that is conceivable, right? One person is pushing the envelope on this concept, trying to be the leader of innovation in this industry. (more…)
November 3, 2016
Be different. This is something that is preached to us from a young age by some parents, who want to see their children to grow up and accomplish more than they did. How one stands out is how they make themselves marketable in the workforce, as well as other areas. The same rule of thumb applies to businesses. Being unique shows the consumer what type of product you have any why it is beneficial to them to choose that over someone else’s. (more…)
November 1, 2016
We all know that energy drinks have become a staple of our culture over recent years, especially with most Americans being constantly on the go. Sometimes, there isn’t enough time to wait for the coffee to brew, or for the difficult customer in front of you in line at the local Starbucks. A quick Monster will do, and is a much more efficient route to travel to enable one to arrive in time for their work shift. However, is it always before work or school that a consumer is purchasing this energy drink? The answer to this question is important to these organizations, among other things. (more…)