Managing the flow of inventories in your retail store can be challenging. Can you account for the value of your inventories manually? How do you understand when to buckle yourself up and sell them? Of course, you need a proper system and software for ensuring this, and store inventory control lets you accomplish all this. [...]
Are you confused about the prices you set for your store products? The price-quality model has gained considerable popularity in recent times owing to the increased consciousness amongst the customers where they pay for the quality of the items they purchase. While following the price-quality matrix might seem like a compromise for your profits, it [...]
Production is a vital activity within an enterprise involving transforming raw materials into finished products. The manufacturing process requires critical evolutions to produce essential products. As a result, production planning forms an integral part of modern manufacturing operations. Product planning refers to fixing the manufacturing plan by providing information for its execution, collection, recording of [...]
A general classification of marketing used to describe the population is the Socio-Economic Classification or the SEC. It was created in 1988 and ratified by the Market Research Society of India (MRSI). According to the SEC, consumers were classified based on the two basic yet essential parameters. The occupation and education of the (CWE) Chief [...]
What are Retail Store Fixtures? Visual Merchandising is a crucial term for retailers. Strategic merchandising attracts customers’ attention and increases sales. The store must attract passersby while creating a comfortable yet exciting journey for customers within the store. Thus, visual merchandising involves the use of color schemes, floor layout, display fixtures, etc. All kinds of [...]
Retailers and the entire DSD supply chain enjoy the perks of Scan-based trading (SBT). If you’re a retail store owner, your store benefits from saving inventory costs, eliminating or reducing shrink, less merchandising process time, and enhanced operational time. All of this leads towards the primary objective, i.e., boosting sales. Implementation of a Scan-based trading [...]
What is a Retail Planogram? The fundamental advantage of having a brick-and-mortar store is the physical space. It is essential to make the best use of this space to derive the most out of your business. The area is utilized by shelves, product standees, check-out counters, aisles for customers to navigate your store, etc. Planograms [...]
One of the most effective and engaging marketing strategies is the endcaps displayed at a brick-and-mortar store. Endcaps help the brand to stand out and be seen amidst the chaos of in-store shopping. It has been observed that having retail endcaps in the store allows the customers to understand the brand and its product in [...]
A good beat strategy is one of the most critical parts of FMCG sales and distribution management for the plain reason being that it prevents wastage of time and effort. Clearly defined territories guarantee that field executives do not overlap and focus on their outlets and produce business, which is the organization's ultimate goal. This [...]
Retail and business owners often tend to believe that customer purchases are random; and that various products appeal to specific customers, leading to a purchase. This belief leads to many misconceptions, even when it comes to identifying a suitable approach for product and service marketing. What often happens is, buyers go through a specific series [...]
