From introducing new products and festive offers to impulse selling and reinforcing branding, in-store promotions hold massive significance. A well-chalked merchandising plan can elevate foot traffic, improve sales figures, and foster customer loyalty. It is essential to derive meaningful and actionable insights with the enormous reserves of consumer data gathered by retail businesses. Especially for planning in-store promotions, retailers must conduct a data-driven analysis of the customer’s journey from entry to billing/exit. This fundamental understanding of the consumer psyche can help brands with intuitive merchandising and creating an outstanding, personalized experience. Here are five noteworthy tips for retailers to make the most of in-store promotions:-
1. Deploying Smart, Well-Trained In-Store Promoters to Entice Customers
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A crucial reason why many consumers prefer conventional shopping to online shopping is the innate need for human interaction. In-store promoters have the potential to massively drive up sales with their charming personality, effective communication, and solid product knowledge. They can resolve all consumer queries and smartly demonstrate the usage and describe the uses/benefits. The way they convince hesitant shoppers to go ahead with the purchase can single-handedly boost retail store performance. Relying on a professional agency can help save time and resources for retail businesses that have never hired/trained in-store promoters.
2. Drawing up an Innovative Visual Merchandising Retail Plan
The in-store merchandising plan should address all the crucial facets of products, placement, and promotions. Yet, the biggest highlight is visual merchandising retail, which entices customers via captivating visuals. To begin with, retailers must focus on sprucing up the store signage using the right colours, lighting, font, and language. The signage must be simple, lucid, and appealing, emphasizing the correct CTA. Similarly, window displays play a significant role in drawing in potential shoppers passing by. It should be highly attractive, display the latest collection, and specifically appeal to the core target audience.
3. Ensuring the Promotional Events Reward Loyal Customers
Besides a solid visual merchandising retail plan as well as the deployment of brand ambassadors, periodic events are equally necessary. It could be as simple as a free sampling session, an attractive product demo, or an elaborate audio-visual event. Well-timed social media promotions can boost audience generation at these events, thus ensuring maximum ROI. However, retail marketers must prioritize inviting all loyalty club members or repeat shoppers. They should be the first to gain the benefits of any freebies or discounts offered. It will ensure that the loyal customer base keeps growing steadily.
4. Creating a Customised, Data-Driven Shopping Experience
Despite the luxury of ordering online, many shoppers set foot in stores for a holistic sensory experience. They want to see the product, feel it, and assess it to their satisfaction before purchase. The more accurately in-store promoters and retail marketers can curate the customer experience, the more successful they will be. Instead of instinct-driven marketing strategies, relying on factual data and algorithms will yield more effective results. Ideally, retail businesses should hire or collaborate with a data analytics expert to analyze foot traffic and understand purchase behavior.
5. Revamp the Checkout Aisle for Impulse Selling and Surprise Discounts
The checkout experience largely determines whether the customer will likely visit the store again or not. Offering surprise rewards at the checkout aisle is a sure-shot way of delighting them and fostering loyalty. Of course, this must combine with a swift, hassle-free checkout process, minimal waiting time, and courteous billing staff. Loyalty club enrolment pitches must offer substantial value. The strategic placement of visually enticing, high-margin products here can also boost last-minute impulse purchases.
Across the globe, retail stores are still reeling from the impact of the Covid-19 pandemic. Even though there are no more lockdowns, shoppers are still wary of frequenting crowded spaces. E-commerce has grabbed a significant chunk of consumers who rely on online shopping for daily essentials. In this scenario, brick-and-mortar retail stores need to be all the more appealing and persuasive with their promotional strategies. The efficiency of the in-store brand reps and the visual merchandising plan should be a cut above the rest. Retail businesses can ensure remarkable sales in the challenging post-Covid-19 economy with the right retail software and data analytics.