The Covid-19 pandemic has changed the game rules for most of the business. Non-essential business being forced to closed down in many countries. It has been difficult for conventional retailers to keep pace what is going.
Although e-commerce remains strong and growing every day, most business owners have the attitude that retail stores are on decline. And perhaps we cannot argue this.
It is hard to predict what the future will look like after Covid-19 pandemic, but waiting and doing nothing would be the biggest mistake.
If you dig deeper to the shopper’s behaviour in detail you will see different view versus all media news announcing.
First of all, it is fact that people are spending more at FMCG stores than it was year ago. For many households, Covid-19 pandemic generated more demand for grocery products. Lot of us work and take care of children from home at the same time. We do not eat outside, do not meet other people and etc. This has created a surprising opportunity for FMCG players sell more in-store.
Let’s think how can we adopt to this situation by gaining more sales, more market share, more profits.
Launch a new product
It is may seem risky to launch new product these days, but it worth trying.
Many customers are bored with the quarantine routines and the only visiting place is grocery store. If you have floating about new product idea, it is time to take a leap and offer them something new that will grab their attention.
While the product you might think about launching depends on industry your business in, it is worth thinking about how your new product will fit in Coronavirus economic landscape.
Try to think about product which is useful not only for our particular time, but which is also have enduring life cycle when pandemic will be over.
Update your brand design
If your business has slowed down for past half a year due to the pandemic, the now is the opportunity to look at your brand or product design.
Make analyses what is working and what’s not with the perception what you always wanted your brand look like. If you have been active with engagement with your product’s audience before economic downturn, you will be able to have an idea what your customers expect from in these times.
Now is the opportunity to take critical look at your products design or brand.
However, there is no better time that the present moment to start communicating with your customers. This will give your better understanding how you design your retail presence to capture more attention instore.
Taking a look how you are presenting your products will provide opportunity for boosting sales. In the Post-Covid-19 retail environment, customers are going to be looking at the products at different angel than before pandemic.
Taking some time to brainstorm these ideas will help you capture attention and win new customers who have been not interested in your business before. Some ideas could be highlighting the health benefits of your product in meantime.
Point of purchase displays
One of the most effective ways to grab Shoppers attention instore is through the use of a point of purchase displays.
With infinite option to create them, a point of purchase is the ideal way to provide quickly customers with the most important information about your brand, related products and how to use them.
By taking up more space instore and no competitors products near in store, point of sales displays make it hard to ignore your brand.
Using POS displays allows your product to be unique and stand out from competitors, especially when they do not invest into a similar display.
When customers come to the store with the list in mind of product which they want to buy, they actually do not have specific brand in mind. It only takes a few seconds to make a decision when they reach your shelf.
With your products standing alongside from the competitors, it is risky to leave this decision up “got lucky” chance. Flashing colours packing can help, but it is much better to direct customer attention to your products. This is where the POS Displays comes in.
By taking up more space in supermarket, POS Displays make it hard to ignore your product. You can choose to freestanding displays in particular section of the store or you can use various hanging displays, shelves stoppers or even whole shelf branding that definitely will attract your shopper’s attention while strolling through aisles.
Just make sure you have and informative, attractive and tasteful design, and the POS displays will do the rest work.
Support In-store with Online
While instore displays are essential for grabbing customers attention once they have arrived instore, it is important to support these efforts with digital marketing. Ideally, your brand is active and engaged with customers through the covid-19 downturn.
Take the opportunity to reach out your customers about latest updates and products you are offering online either. Make remarks of the efforts you are taking to prevent the coronavirus spreading.
Be sure to communicate the message to your customers toward benefits about the product you are offering at the stores.
Try to upsell
There is no better tool than point of sales displays for upsell purposes.
It is the art of convince your shopper to buy more of your products that they were not thinking a moment ago.
We believe that if your products are high quality and providing value, highlighting the advantages your customers will get, guarantees purchasing two or more of your products together.
This can lead to win-win situation: more revenues for your business and introducing your customers about wider variety of your product line.
Showing how your product can be a part of healthy food or balance meal in your POS display or other instore promotional tools will make product more appealing to more customers.
The right price
Setting the price depends on various factors: raw material, production costs, logistics, sales channel or retailers fees and etc. As a brand owner, you already have a price strategy and sometimes the final price of your product is not in you control.
The Retailer have it is own strategy on how he or she will charge your product at their stores. However, it is important to think what is the best price for your product in these times.
If possible, avoid any price increase if your product is essential and is in high demand. You don’t want the public speaks about your company or brand that you are attempting to gain unfair profits during the pandemic time. But usually, the Retailer have the most power of control on price element.
Temporary price discounts are great way to make more sales. Even a small discount has a psychological affect. Seeing the price drop sometimes can make your product more appealing to customers than competitors one.
When we speak about discounts, is also useful to join a partner – with other brand or company. If you create special valuable deal of joint offer for customer, you can both reap the rewards of more sales. Make sure the partnership is mutually fear and the product pairing is somewhat customers will love to buy.
In essence Covid-19 pandemic has change the game for retail, but if we look deeper this is the critical time for business to think about their in-store packing, marketing and displays approaches.
We wish you to move forward in the big steps.