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Importance of retail strategy in down market

March 6th, 2009  |  Published in Consumer Electronics  |  1 Comment

Wii Endcap demonstrating how to use their technology. Flickr: jason_coleman

Wii endcap demonstrating how to use their technology. Flickr: jason_coleman

While working with consumer electronics brands, I’ve come upon varying degrees of sophistication in retail strategies. Many believe proposing endcap ideas and featured areas in retail environments is a great “added value,” but a luxury, not a necessity. Times have changed or more specifically, marketing channels need to be reprioritized.

A new study released today from Nielsen called Shopper Modality cites the importance of retail displays: “On average, feature and display alone provides 66% of sales uplift regardless of discounts offered. Focus investments on securing site rather than diluting price point.”

Although, this is just one piece (albeit a critical one in this environment) of the purchase path. Brands need to map their target from introduction or reintroduction of the product through their NEXT purchase of the product and beyond.

There are many areas of influence to persuade consumers to choose your product on the retail shelf and also purchase your “newer, better” version of the technology in the next release. Marketing was invented to support sales, now more than ever, savvy marketers should follow their consumers and create an irresistible journey to their product.

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  1. alfredo muccino says:

    March 19th, 2009 at 9:47 am (#)

    I believe that brands need to evolve the relationship with consumers at retail and take advantage of the connected world that we live in…and that there are many opportunities to shine in this arena.
    The growth in the influence of social media in our society has a strong connection to consumer behavior…and brands that understand how to leverage the online experience with an in-store experience will benefit greatly from this convergence. This includes use of community building and loyalty / reward programs…viral marketing…mobile widgets…e-couponing…etc.

    The possibilities for consumer engagement at retail have never been more exciting…and the landscape is continuously changing…which means that there are opportunities to break new ground and stand out from the rest.

    Alfredo Muccino
    Chief Creative Officer
    http://www.liquidagency.com

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