{"id":3778,"date":"2021-12-15T10:09:20","date_gmt":"2021-12-15T16:09:20","guid":{"rendered":"https:\/\/www.rmservicing.com\/?post_type=articles&p=3778"},"modified":"2021-12-15T10:09:20","modified_gmt":"2021-12-15T16:09:20","slug":"maximize-in-store-marketing","status":"publish","type":"articles","link":"https:\/\/www.rmservicing.com\/articles\/maximize-in-store-marketing\/","title":{"rendered":"Maximize In-Store Marketing and Drive Sales by Implementing a 2022 Merchandising Strategy"},"content":{"rendered":"\n

Maximize brick and mortar sales through improved store execution. \u00a0Hiring an experienced 3rd<\/sup> party merchandising company allows brands personalized attention to their products inside every door. Improving store execution is the lowest-hanging fruit to drive more sales. Products get placed incorrectly or do not make it to the salesfloor timely, promotional displays and endcaps are not set, or missing eye-catching ISM. Avoid missing 2022 goals by planning now.<\/p>\n\n\n\n

What\u2019s the Deal with Retail Execution Rates?<\/h2>\n\n\n\n

\u201cI\u2019d rather have a\nfirst-rate execution and second-rate strategy any time than a brilliant idea\nand mediocre management.\u201d \u2013 Jamie\nDimon, JPMorgan Chase<\/a><\/p>\n\n\n\n

Pre-pandemic stats show that suppliers were losing at least 25% of potential sales<\/a> due to poor in-store execution rates alone, which were assumed to be greater than 70% but were in fact only 40%<\/a>. This alarming statistic should send retailers and suppliers alike back to the strategy drawing board and prioritize \u201cin-store execution\u201d as a \u201cmust-have,\u201d not an assumption. While the numbers are still out for pandemic execution rates, the twin forces of supply chain challenges and labor shortages make it safe to assume that rates haven\u2019t increased over the last two years.<\/p>\n\n\n\n

DIY vs Retail Labor vs 3rd<\/sup> Party Merchandisers<\/h2>\n\n\n\n

What\u2019s to blame for these abysmal execution rates? We\u2019re\ncertainly not pointing fingers over here. Clearly, this is a widespread,\nlong-lasting problem that few companies have been able to solve.<\/p>\n\n\n\n

However, there are three main options suppliers can choose\nfrom to handle their in-store merchandising needs.<\/p>\n\n\n\n

Option 1: DIY Checks<\/h3>\n\n\n\n

Retail staff will place and check your inventory as able. However, suppliers always have the option of visiting store locations themselves and manually double-checking.<\/p>\n\n\n\n

Pros<\/strong>: Additional set of eyes on inventory<\/p>\n\n\n\n

Cons<\/strong>: Labor intensive, may not have on-staff skills\nor permissions from retailer to perform<\/p>\n\n\n\n

Option 2: Retail Labor Only<\/h3>\n\n\n\n

Many suppliers depend on their agreement with their retail partner to ensure their products and displays make it onto the shelf and are accounted for properly. While there\u2019s nothing wrong with this option, it is worth noting that choosing this one is having only one check-in place, versus multiple, which may give you more peace of mind and accuracy.<\/p>\n\n\n\n

Pros<\/strong>: No additional cost, accounted for in contract<\/p>\n\n\n\n

Cons<\/strong>: Risk of 40% execution rate, loss of sales,\ninaccurate in-store execution<\/p>\n\n\n\n

Option 3: 3rd<\/sup>-Party Retail Merchandiser<\/h3>\n\n\n\n

Then there\u2019s hiring a merchandising partner to be your\nsecond set of eyes and hands at your retail partner. <\/p>\n\n\n\n

Pros<\/strong>: Timely turnarounds, execution rates of >90%\n(with RMS), highly trained staff, maximized sales, and more<\/p>\n\n\n\n

Cons<\/strong>: Additional cost (though a true ROI analysis\nmust be done as sales from improved execution can quickly produce a positive\nROI).<\/p>\n\n\n\n

Every retail supplier needs to make the right choice for\nthem. Leveraging resources like external partners can help offset cost, time,\nand skill gaps that suppliers and\/or retailers may have.<\/p>\n\n\n\n

On the Shelf: External Forces on Retail Execution Rates<\/h2>\n\n\n\n

To paraphrase John Lennon, \u201cwhen I find myself in times of\ntrouble,\u201d partner with a trusted retail merchandiser. And right now, with a global\npandemic raging and labor shortages increasing across the board, suppliers are\nfacing pressures they\u2019ve never faced before at this magnitude. <\/p>\n\n\n\n

We\u2019ve been hearing about both of these issues for two years\nat this point, so where does the current outlook stand?<\/p>\n\n\n\n

Supply Chain Delays<\/h3>\n\n\n\n

First, there are more packages being shipped this year than ever before with a 26% projected increase from 2020<\/a>. Then there are lingering delays and shortages that were up 638%<\/a> in the first half of 2021 and are expected to continue into 2022 and even 2023. That\u2019s not to say that things will continue to be at a breaking point for the next two years. Consumer spending<\/a> is expected to cool and as manufactures and retailers adjust to the \u201cnew normal,\u201d backlogs won\u2019t be as severe.<\/p>\n\n\n\n

That said, suppliers should be projecting complicated supply\nchains and inventory shortages for the foreseeable future. On top of that, this\nhas shown all of us how fragile our supply chain system is and that effective\nresponse strategies to seen and unforeseen blockages will continue to be\nprudent.<\/p>\n\n\n\n

Labor Shortages<\/h3>\n\n\n\n

There are nearly\ncountless reasons<\/a> for today\u2019s labor shortage. From a lack of childcare\noptions due to the pandemic to shifting labor trends to an increasingly booming\ncash economy, retail workers are in short supply. In October 2021, 2.8%\nof U.S. workers, totaling 4.2 million people quit their jobs<\/a>. Of that,\n683,000 were retail workers, adding to the 685,000 retail workers who quit in\nSeptember. As retailers adjust to the shift in labor demand and supply,\nsuppliers who depend on retail workers to stock their products accurately are\nleft scrambling.<\/p>\n\n\n\n

This shortage isn\u2019t expected to go away in 2022, making it a\nkey threat to retail suppliers\u2019 ability to maximize in-store sales.<\/p>\n\n\n\n

Investing for the Biggest ROI<\/h2>\n\n\n\n

All this begs the question, what\u2019s a retail supplier to do? Unless you can teleport products directly to the store\u2019s shelves, there\u2019s really only one solution: find a team that will make sure that your available inventory is placed and set correctly. This reduces reliance on your retail partner\u2019s workers\u2019 execution rates and will maximize sales.<\/p>\n\n\n\n

You\u2019ll want to focus on key two parts of your in-store strategy: retail reset audits and promotional displays. <\/p>\n\n\n\n

First<\/strong>, the reset audit will make sure that your\nproducts are set up in their space to sell when the next shopping season comes\naround.<\/p>\n\n\n\n

Next<\/strong>, if you have invested in securing and designing\na promotional display, make sure you\u2019re getting your money\u2019s worth by having an\nexpert, trusted partner check it and fix it where some TLC is needed.<\/p>\n\n\n\n

Do a cost-benefit analysis to see if you can afford an\naverage 40% execution rate for your in-store inventory. If you can\u2019t, consider\npartnering with a 3rd<\/sup>-party merchandiser, like us!<\/p>\n\n\n\n

Call us today\nto see how we can maximize your sales<\/a>!<\/p>\n","protected":false},"featured_media":3779,"template":"","article_categories":[],"acf":[],"yoast_head":"\nMaximize In-Store Marketing and Drive Sales by Implementing a 2022 Merchandising Strategy - RMS<\/title>\n<meta name=\"description\" content=\"Maximize brick and mortar sales through improved store execution. Hiring an experienced 3rd party merchandising company allows brands personalized attention to their products inside every door. 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