Merchandising’s Post

With consumer behavior changing at an unprecedented pace, staying ahead of the curve is vital for businesses in the retail trade industry. To achieve sustainability and long-term success, entrepreneurs, managers, and partners must adapt their strategies to leverage the power of digital marketing. Let's explore some industry trends and challenges together! 🔷 Creating an Omnichannel Experience: Today's consumers expect a seamless shopping journey across multiple touchpoints. Integrating online and offline channels is the key to delivering a consistent experience. 🔷 Harnessing the Power of Data: Data-driven decision-making has become paramount in the retail industry. By analyzing customer buying patterns, preferences, and demographics, businesses can tailor their marketing efforts and reach the right audience at the right time. 🔷 Tapping into Social Commerce: As social media continues to dominate the digital landscape, an increasing number of retailers are embracing social commerce to boost their sales. 🔷 Embracing Personalization: Customers appreciate personalized experiences that cater to their unique needs and interests. By leveraging advanced segmentation and personalization techniques, businesses can create stronger connections with their target audience. 🔷 Unlocking the Potential of Mobile Marketing: With the majority of consumers relying on smartphones for their shopping needs, a strong mobile marketing strategy is essential. What trends have you noticed in the retail industry lately? How are you addressing them in your business? Share your experiences and insights in the comments below! Let's learn from each other and drive growth together. Remember, keeping up with the ever-changing landscape of the retail industry is crucial for success. Lead generation is just one aspect, but positioning your business as an expert in digital marketing will undoubtedly pave the way for increased growth and profitability. Reach out if you'd like to explore potential collaborations! #RetailTrade #DigitalTransformation #GrowthOpportunities #BusinessSuccess #Ecommerce

7P of the Day: Place The "Place" element of the 7Ps of marketing, also known as distribution, plays a significant role in impacting one's business and growth strategy. Here's how: 1. Accessibility: The ease with which customers can access your product or service directly influences sales. Choosing strategic distribution channels ensures that your offering is readily available to your target market, whether it's through physical stores, online platforms, or both. 2. Market Reach: The distribution strategy determines the geographic locations and demographics you can effectively reach. Expanding your distribution channels allows you to tap into new markets and customer segments, thereby increasing your business's potential for growth. 3. Customer Convenience: Convenience is a key factor in consumer decision-making. By offering multiple distribution channels and locations that align with your customers' preferences and lifestyles, you enhance their overall shopping experience and loyalty to your brand. 4. Competitive Advantage: Effective distribution can serve as a competitive advantage by providing superior access to your products compared to competitors. By optimizing your distribution channels and ensuring efficient delivery, you can outperform rivals and capture market share. 5. Brand Presence: The choice of distribution channels influences your brand's visibility and presence in the market. Strategic placement in high-traffic locations or online platforms where your target audience frequents increases brand exposure and awareness. When considering the “Place” of your business, remember that even the best products or services would struggle to succeed if it is not in a place that it can thrive in. #DistributionStrategy #MarketingChannels #ServeLeadInspire

46% of all CPG brands have a current price higher than what the average category consumer is willing to pay. pricebeam.com Consumers are becoming less loyal to brands as the options are exponential. It is rare for customers to shop in only one supermarket, often people will shop around and spend time going to multiple stores for the best deals. Therefore, CPGs can see the benefit of using the right promotional mechanism to cannibalize competitors. But also understanding what each segment's willingness to pay is. Not all customers are created equal. Different segments of your market will have different needs and therefore different willingness to pay.  Segmenting your market allows you to customize your offerings and maximize appeal across diverse groups. Here’s how you can do it: 1. Demographic Segmentation: Group your customers by age, gender, income level, education, etc. 2. Psychographic Segmentation: Consider your customers' lifestyles, values, and interests. 3. Behavioral Segmentation: Look at purchasing behaviors, brand loyalty, and product usage rates. 4. What are the Revenue Growth Opportunities? It's important to understand where revenue opportunities lie and what strategies can be used to implement them.  

Why is understanding consumer behavior so crucial for sales? Simply put, consumer buying behavior is the study of customers and their actions that drive them to purchase and use certain products. By understanding consumer behavior, marketers can relate better to the expectations of their target audience, ultimately leading to more successful sales. When marketers take the time to understand the factors that influence consumer behavior, they can create more effective marketing strategies that resonate with their audience. So, if you're looking to improve your sales, start by understanding your consumers. #sales #consumerbehaviour https://lnkd.in/g2EhMVda

Have you ever wondered how a simple pen, notebook or water bottle can dramatically increase your brand's visibility? Our latest blockbuster blog reveals the monumental impact of promotional products with staggering statistics you simply can't ignore! Here are the stats behind the promotional products: 1) An astonishing 87% of individuals keep promotional items for more than a year, turning everyday items into permanent brand billboards. 2) An incredible 96% confirm that branded gifts significantly increase brand awareness. 3) 83% of people can instantly recall a brand from the promotional items on their desk – talk about making a memorable impression. 4) 7 out of 10 marketers use branded merchandise to increase brand visibility. 5) 83% of consumers are more likely to do business with brands that give them something special. But this is just the tip of the iceberg! Dive deeper into our most comprehensive research ever, covering over 502+ key metrics, trends, data points, demographics, and invaluable findings. We've carefully analyzed the promotional products industry from every angle, ensuring you get expert insights, reliable statistics and a comprehensive understanding of how to leverage branded merchandise for unparalleled brand visibility and loyalty. Whether your goal is to strengthen existing customer relationships, attract new prospects, or stand out in a crowded marketplace, our findings will guide you in formulating a strategic approach to promotional products. Why check it out? You'll get smart tips and real facts that are super easy to understand. We talk like real people (because we are!), so it's all easy and fun to read. Find good ways to make your brand popular and stay in people's minds. Are you ready to revolutionize your marketing strategy and leave a lasting impression on the minds of your audience? ➡️ Click on "The Biggest Study On Promotional Products Statistics Ever" and change the way you think about brand promotion today! https://lnkd.in/gRXMJtws #promotionalproducts #corporategifts #merch #swag

𝐌𝐲𝐭𝐡 6 - 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐒𝐡𝐨𝐩𝐩𝐞𝐫𝐬 𝐚𝐫𝐞 𝐚𝐥𝐥 𝐭𝐡𝐞 𝐬𝐚𝐦𝐞 Over the years I've heard digital shoppers labeled as being: 👉 Young 👉 Bargain-hunting 👉 Price-obsessed 👉 Bulk buying 👉 Deal seekers 👉 Brand switchers 👉 Constantly returning items These generalisations have often been used as reasons to ignore digital audience segments in marketing, advertising & product development. While some may have been true 20 years ago, these stereotypes are now overly simplistic, incorrect avoid the need to take a more nuanced and data-driven approach to effectively engage and serve this diverse audience. Here’s three fundamental reasons why: 👉 Today’s digital shoppers come from all backgrounds, age groups, degrees of brand loyalty and prize "total value" above price in most transactions. 👉 Digital customers often exhibit multiple shopping personalities while they shop online, with buying behaviours changing depending on what, why, how & where they are buying as well as who they are buying for. 👉 Digital Generations - Gen-X, Z, Millennials and after - are rapidly becoming the primary customer audience for almost every consumer product category currently available. Embracing this diverse and tech-savvy audience is not just a strategic choice but an imperative for businesses aiming to thrive in the digital age. Product sales occur when consumer 𝐧𝐞𝐞𝐝, customer 𝐦𝐢𝐬𝐬𝐢𝐨𝐧𝐬 and a customer 𝐣𝐨𝐮𝐫𝐧𝐞𝐲 combine. What’s fascinating is that all of these elements can vary significantly from one purchase to the next even if the shopper remains the same. Why do these variations occur? Because how we choose to fulfil our needs can differ based on many factors. For example, two customers can satisfy the same need in different ways and journeys to purchase can vary significantly in length and in media engagement. The takeaway? The needs, missions, and journey to purchase of digital shoppers are infinitely variable. Embracing this diversity is essential for businesses seeking to engage and serve their customers as the digital generations become the dominant customer audience over the coming years. 𝐁𝐞𝐠𝐢𝐧𝐧𝐞𝐫𝐬 𝐓𝐢𝐩: Compile a list of the various ways your customers seek to fulfil the needs your products satisfy. These differences in need satisfaction represent your customer's missions and can guide you in offering tailored product variations. Concentrate your media and advertising efforts on addressing the most significant needs and missions, thereby creating relevance with a broader audience. 𝐀𝐝𝐯𝐚𝐧𝐜𝐞𝐝 𝐓𝐢𝐩: Map your customer's primary digital shopper journey, the digital commerce channels and retail platforms they frequent most and the media touchpoints that resonate best with them. Use this data to optimise your media investments, target your key customers, minimise wasted media expenditure, and enhance your return on investment (ROI). #ecommerce #mythbusting #digitalcommerce #benchmarking #cpgindustry

The ever-evolving modern retail landscape is the focus of GWI’s latest commerce study, which delves into the shopping carts of consumers in the region, uncovering intriguing insights about their buying behaviours in terms of how, where, what, and why they make purchases. Among other key takeaways, social media has surpassed search engines as the primary platform where both younger and older shoppers discover new products. #retailinasia #retailnews #trendsinAsia #consumertrends #socialcommerce #buyingbehaviour #shoppersinAsia

Discover the factors influencing buying choices and learn how to tailor your approach for better engagement. Your journey towards mastering consumer behavior and achieving eCommerce excellence begins here!

Psychographic segmentation — categorizing consumers into groups based on characteristics such as personality, values, lifestyle, and interests and digging into why they make certain decisions — undoubtably yields valuable information. Brands commonly use psychographic data to influence their interactions with customers. Coca-Cola engages a broad, diverse customer base by appealing to their emotions, values, and lifestyle preferences. Nike, on the other hand, appeals to multiple segments — the Air Max for the fashion conscious and outerwear for outdoor enthusiasts. But there are drawbacks to psychographic segmentation. - It is largely self-reported and subjective, which can tend toward bias and inaccuracies and the potential for misleading insights. - It can be limited or with a restricted range of variables, making it a challenge to define clear segments. - It can be difficult to analyze and interpret, as well as difficult to compare across studies. Recognizing that purely psychographic and purely behavioral segmentations can both result in limited actionability, Bellomy has created a thorough, holistic process that marries the two into a single solution that is both attitudinally differentiated and operationally typable. We have conducted related research for brands from a range of industries, profiling target audiences and their needs, exploring nuances between groups, and identifying opportunities to act on insights. Want to keep reading? Click through for the full blog post, including a breakdown of Bellomy’s three-phase segmentation method. https://lnkd.in/eGFiph7w #Bellomy #MarketResearch #Strategy

Choosing the Right Retail Channels | What every brand needs to know - Learn how to choose the right retail channels for your brand. Understand your product, target audience, market trends, and logistical requirements for successful integration. https://hubs.li/Q02xb6pk0