All around the world major brands fritter away a lot of money on different types of tools and steps which are designed to grow sales. Among the other things, the most well-known term when it comes to this matter is Retail Execution.
But what is that anyway?
Let’s imagine a situation where we visit a store in order to get our beloved chocolate made by a particular brand . But soon we realize that the shelf where it used to be stored is completely empty. What will you do? Most probably you would take another one, and that’s it. From your brand perspective, when many consumers will behave just like you, the company will lose a lot of money. Deserted shelf means no sales which provides to zero profits. Broadly speaking, Retail Execution boils down to all actions related to the sale process for the ultimate consumer.
The key point here is to capture real-time data from the stores and act imMediately. Is that even feasible? Of course, it is – with the modern technologies and software available out there.
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With that being said, we could easily monitor if our goods are on the shops shelves and manage it any time. A good Retail Execution actions should provide also various in-store special offers to make our products more interesting to the customers.
As we mentioned earlier, we could take advantage of dedicated software which will help us with creating a nice plan, with execution and supervising all the steps we have made a decision to take. The main important part is the frequent analysis and making conclusions out of it to see what really works and what’s not.