Manufacturers, are you taking control of your in-store merchandising? If you aren’t, you should be.
The unfortunate reality is that retailers are busier than ever – and in some cases short staffed. From minimum wage increases, to certain stores tightening operational budgets, to high turnover can lead to retail staff who don’t always know what’s best for your product.
Even the best-managed retailers can drop the ball sometimes. When it’s your bottom line that’s on, well, the line, it’s vital that you are managing your own success.
We’ve recently written about several issues that illustrate the importance of manufacturers taking control of their brand in store:
1. Out of Stock Inventory
According to a recent study, out-of-stock product costs Canadian retailers as much as $63 Billion in lost sales. The average shopper experienced 1.4 out-of-stock SKUs per trip. And 61% of respondents reported at least one out-of-stock product on their last shopping trip.
And when shoppers couldn’t find the product they were looking for, the most common response was to go somewhere else to find it.
2. Phantom Inventory
Along with the out-of-stock inventory, another common issue is phantom inventory – when POS systems show inventory as being in stock, but it really isn’t. The auto-replenishment won’t re-order products as it thinks it doesn’t need to.
The only way to truly keep a handle on this is to go into stores and check for yourself.
3. Too-Few Open Checkouts
We also wrote recently about how too-few open checkouts is a major source of frustration for shoppers. While this might seem like a retailer issue, not a manufacturer’s, it can still harm your brand reputation. Consumers don’t always differentiate between a brand and the retailer.
Monitor how your brand is being perceived in store by sending in mystery shoppers or doing a foot traffic assessment.
The bottom line is that even the best retailers can make costly mistakes and errors that hurt your brand. To be sure that your product is being displayed how you want it, where you want it, and with the correct information, you need to be going into store to check.
Of course, this can be difficult when you have your product in many stores nation-wide. Luckily, there’s an easy way to get around this: Storesupport Canada.
Our team is set up nationally and equipped to go into stores, check your inventory, product displays, and more. We’re your in-store merchandising ally that help you take control of your brand.
Contact us today to learn more about our services. Call 1-877-421-5081 or visit www.storesupport.ca.