We all know main sales increase actions that will lead to better incomes results. But all these actions have their owns plusses and minuses. Let’s shortly overview the main sales increase actions in-store and think about what else could be done in order to increase sales.
How to seek win-win situation in saving the margin and making good instore promotion?
1. BUY ONE, GET ONE FREE
All people love free stuff. People love to get free product or another item instead of discount. This mainly because it is harder to notice a good discount when every week is new items on sale. Buy 1, Get 1 offer is much more appealing.
But this action cuts the margin by 50% and only mass purchase can yield to profit results. Although, Buy 1, Get 2 offer are not ideal for every type of FMCG product. If shoppers is not purchasing your product in bulk, this kind of promotion is useless
2. COUPONES OR VAUCHERS
Another great idea is to use coupons or stickers for collecting purpose and finally reaching particular amount – get the prize. This could be free product or discount for other product. This great idea and widely used for retailers, because it can be easily implemented with lot of products.
Those result is fanatic: the more shoppers buy your store, the more coupons or stickers they get. E.g. you reach total 10 coupons or stickers sum and get 50% OFF discount for certain product or brand line from your store. At the end, people will end up purchasing more products to get a better deal.
We see same actions in all the stores every day. And we get used for discounts very quickly and do not buy same product on regular prices. This is kind of cannibalisation, but thanks it could happen not for all FMSG products.
Everybody falls in for 50% discounts. Also, 25% or 33% seems to be great discount percentages. The amount of discount mainly depends on a product type you are selling and product costs your are suffering.
BUT, this very simple and very attractive sales increase action has serious problem – you lose products profit margin immediately and even worse happening – you lost your future sales. Your incomes and profit start to wave.
4. NO PRICE CUTS, JUST GOOD POS PROMOTION
Firstly, in-store promotions is marketing tool that helps promote their brand inside the store, right at the point of sale.
Secondly, nowadays everybody loves a good in store promotion, because it’s all about trust in brand and surprise moment. We all hate bad or misleading promotion, and look to pleasing scenarios promo.
Probably this is best sales increase action, because it has many benefits:
- Does not involve price cuts
- Maintain sales stability after POS promotional campaign
- Increase brand awareness
With the help of in store marketing you will create a better shopper experience to your customers. Use tools: Video, Music, Lights, Scent and even robots.
We wish you to create your own successful in-store action or find a good partner to do it for you.