Retail Execution refers to the proper implementation and orderly execution of a brand’s retail strategies across all its stores and retail outlets. This includes retail marketing at the in-store level, merchandising compliance, store layout planning, implementing the in-store promotion ideas, in-store customer handling, and sales assistance. Here are eight excellent store execution tips for the best retail sales promotion:-
1. Get your store basics right first- It is common to envision lofty promotion ideas, host buzz-worthy events, and forget the essential basics of store cleanliness, orderliness, safety, and accountability. Daily store operations are often challenging. The primary goal of store execution is to establish an accountable framework that ensures that any time a customer walks in (and no matter how busy it is), the store should always be neat, ambient, and have an organized merchandise-display. Proper security checks should be implemented for minimizing pilferage or theft.
2. Hire In-Store Brand Representatives- With their charming personality and excellent communication skills, skilled representatives can educate buyers about various brands and help them find the best product matching their budget and requirements. Well-trained reps can make all the difference in enhancing your brand image.
3. Provide personalized services for Loyalty Club Members- Amongst the best sales promotion ideas for retail, rewarding your loyal customers is indeed the best store execution policy. From bonus points and exclusive concierge services to prioritized home deliveries and a 24/7 helpline, there are many privileges you can extend to increase the enrolment figures in your loyalty club.
4. Cash-back Promotions- As part of in-store retail marketing, when you want customers to become repeat buyers, the most straightforward tactic is to hand out gift coupons or cash-backs for their next purchase. For instance, when you have many Christmas shoppers coming in, hand out discount coupons separately demarcated for use in January, February, and March each, to have them revisit your store.
5. Keep your bestsellers in the limelight- For better retail sales promotion, always bank on your bestselling products. Placing them attractively in the most accessible areas of the store will ensure higher sales. Also, for matching products, try to put them next to each other for a higher probability of combined purchases.
6. Make the best use of technology- Nowadays, there are many easy-to-use apps for store inventory management and employee tracking. The former will help you ensure that you always have the right stock of merchandise replenished on a timely basis. The latter keeps a tab on employee productivity. Both of these are essential for better sales performance.
7. Start Referral Programmes- The best way to rope in new customers is through your existing ones. A referral programme means that you provide discounts to current loyalty club members if they bring in their friends or colleagues for enrolment. A sure-shot winner amongst sales promotion ideas for retail!
8. Collaborate with Local Suppliers- Especially for the festive season, liaising with local suppliers to attractively display and sell local, traditional and indigenous products can help get your cash registers ringing. Seasonal and ethnic merchandise have a higher probability of quick selling as compared to regular products.
An efficient store manager with his/her team of store employees should work in tandem with the merchandising team to work on the best store execution methods to promote brands and products better.