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Tag: Perfect store

  • How to achieve the ‘perfect store’ visit every time

    How to achieve the ‘perfect store’ visit every time

    Many consumer goods companies are seeking out the perfect store.

    Those setting themselves up for success are defining the strategic vision for the perfect store at the senior leadership level – defining what it means for the organisation.

    No matter how well you define your vision of the perfect store, you will not realise the worth to the business without flawless execution – from senior management at head office down to the individual reps in store.  You must avoid common pitfalls like misalignment of internal departments and team goals, failure to clarify sales team member roles and who takes responsibility for which tasks.

    Here are some key considerations to help deliver the perfect store visits for your organisation:

    1. Invest in the right processes, tools and technology.

    Make sure you have invested in a technology solution that can generate a continuous flow of real-time, store specific data and close the loop between your head office and your field teams. Make the most of today’s mobile devices and give your reps access to the most up to date insights while out in the field.

    1. Communicate the perfect store vision to your field teams.

    Reps must know what they are aiming for in store and what they will be measured against (KPI’s). Provide specific plans, task lists and objectives by store for merchandising activities as well as getting the perfect order. Motivate and compensate your reps for achieving perfect store status.

    1. Engage and consult the retailer.

    Allow your reps to take a consultative, data driven approach with retailers improving operational efficiency and fostering meaningful relationships with store managers and owners. Part of this means providing reps with the right mobile tools and devices. A visual, fact based pitch will more likely win over a busy store manager resulting in an in store sale or promotion and display activity.

    1. Take measures to improve productivity.

    A more productive field force will unlock opportunities to focus on value adding activities in store and getting to more stores. By reducing driving time, administration and data processing time with route optimisation and better systems and technology in the field your reps can deliver additional results above the productivity gains themselves.

    1. Measure, improve and repeat.

    Implement ongoing checks and balances to evaluate and measure activity. Adjust KPI’s accordingly, make better business decisions, and target high yield territories and stores. And always look to course correct if necessary with visibility generated by a closed loop system.

    Perfect Store visits executed correctly offer more productive field teams, visibility into lost sales opportunities such as OOS & promotional non compliance, and the ability to identify new opportunities with the store manager, take orders and sell more in the store.

    Bring your company’s “perfect store” to life – invest in today’s latest technology and tools, communicate, motivate and compensate your field teams and actively consult to store managers by sharing store specific data. This will result in increased sales – a win for you, your sales teams, the retailer and your end consumer.

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  • Defining the ‘perfect store’

    Defining the ‘perfect store’

    The ultimate goal of the “perfect store” is to enhance a customer’s shopping experience to maximise your sales opportunities.

    Many consumer goods companies operate on a one “perfect” size fits all principle. But we know treating all stores the same does not work. There are marked differences that exist not only by region, but also by market, channel and retailer.

    A better way to define your “perfect store” is to acknowledge that every store is different and break your business down to the individual store level defining in-store objectives by store.

    Consider factors like:

    1. What is the perfect assortment for this store?
    1. What are the perfect pricing and promotion strategies for this store?
    1. What is the perfect location for your product in this store?
    1. What are the perfect displays for this store?
    1. How to take the perfect order in this store?

    To understand what “perfect” translates to in each case, use information like point of sale, distribution and inventory data to help you define the specific goals around assortment, price and promotion and placement. The use of shopper insight data, consumer demographics and spend data and scan sales data will also help provide a rich understanding of what the perfect store looks like.

    For example:

    Company A has a large seasonal promotion upcoming with major TV and supporting media advertising.

    Company A negotiates with a major grocery chain with tight control over store ranging a certain promotional position and in store plan.

    o Store A has a very high scan sales for this type of product. Perfection in Store A means convincing the store to place two additional touch points through a large secondary floor display along with an upgraded aisle end position, and ensuring the manager has enough additional stock available to refill the display and prevent stock outs.

    o Store B has low scan sales for this type of product. Perfection in Store B means ensuring the upcoming promotion will be implemented correctly, avoiding any downgrading of position or placement Company A also looks for incremental opportunities in other types of retail outlets (independent retail, pharmacy, HORECA, route trade or others).

    o Store C has high sales potential for this type of product (for example based on consumer demographics in surrounding areas), and uses distributors to get products into store. Perfection in Store C is the same as Store A, however securing additional facings on shelf to increase product visibility during and after the promotional period is required. Plus taking a turn in order that is sent back to the retailer’s distributor for fulfilment to avoid stock outs.

    o Store D trades directly with Company A. Perfection in Store D means aligning the store to Company A’s view on the ideal product assortment on shelf and the ideal position, while ensuring that the perfect amount of stock is ordered based on ordering history and upcoming promotion expectations.

    Finally, whose responsibility is it to define the perfect store and set the goals?

    To succeed it must be the senior leadership team. Company leaders need to be engaged at the outset. It is easy to view this as an execution task rather than a strategic one – however it is both. The Perfect store has to be a pillar for your brand(s) and considered one of the company’s strategic goals. Then it can be brought to life through in-store execution.

    Using the right processes, tools and technology will help; so make sure this is part of your discussions. The end goal is well worth it – winning over your competitors, at the shelf, every time.