Many retailers are rethinking the notion of carrying massive amounts of SKUs on their shelves and are realizing that their stores have unique consumer dynamics. They believe that SKU reduction programs need to maintain a focus on the shopper. Retailers like Publix and other chains owe much of their success to such a shopper-centric approach.
Wal-Mart struggled to redefine the role of individual categories in their stores and the depth and breadth of product assortment choices. As a result, their (now-ended) SKU reduction initiative alienated many shoppers because Wal-Mart did not clearly understand the degree of loyalty for particular products...
Shopper centricity is one of the fastest growing and most proven strategies for manufacturers and retailers to increase their long-term competitive advantage through greater relevance.
"Companies that have implemented this holistically have been able to see a 5% or more sustained increase in sales and profit," says Brian Ross, president of Precima, a shopper-driven insight and strategy firm.
From Precima's benchmark studies, the percentage of companies identifying shopper centricity as a top-three strategic imperative has grown from 75% to 90% in three years. Ross presented five keys to success in implementing a shopper-centric strategy...
Marketers often have several choices to make in terms of planograms, displays, packaging and pricing. These choices are critical nowadays.
In addition, the final buying decision for many categories is made in the store, at the shelf, or at the end-cap. So, the in-store shopping experience remains a vital marketing opportunity.
How can marketers develop effective strategies to take advantage of this opportunity?
STI Schedules Fourth Annual LEAD Marketing Conference
The Shopper Technology Institute (STI) will produce and host its fourth annual LEAD Marketing Conference October 1-3, 2012 at the Westin O'Hare in Rosemont, Ill. (Chicago). LEAD is the industry's most comprehensive event focusing on all aspects of Loyalty, Engagement, Analytics and Digital Marketing applications.
Topics on the agenda will include: shopper marketing, social media, mobile marketing, interactive promotion strategies, location-based marketing, demand-signal repositories, loyalty marketing, and related subjects.
The conference will consist of a blend of educational sessions and tabletop displays. Two workshops on topics to be determined will precede the start of LEAD. In addition, attendees will get a change to appraise new solutions privately at ShopperTech CONNECT. The program will consist of a series of pre-arranged 30-minute meetings in private conference rooms between consumer packaged goods manufacturers and retailers and top vendors offering new technologies and solutions that engage shoppers, analyze their behavior, and enable trading partners to improve their operations. The meetings will take place before the start of the LEAD Marketing Conference.