All shoppers are not the same. In different locations they have different needs, priorities, incomes and points of view. So how can stores take advantage of these differences to increase sales without discounting?
Most shoppers like to buy some products that are a bit different from items that can be bought in thousands of stores across the country. They are also prepared to pay more for the privilege if they believe that they are getting good value. If as well as being sufficiently different the product is also locally sourced they are even more inclined to buy it. However, to make the sale requires some very clear and consistent signage to explain why the product is different and it’s link to the community. Not all retailers are getting this important detail right.
Same product – different reason to buy
Even if a product is identical shopper’s reasons to buy can vary widely between different locations. For example a designer brand may be a normal purchase for most shoppers at one location and a one-off luxury purchase for the shoppers at another location. Therefore the marketing messages need to be different in various locations to match local conditions. Having the most effective marketing messages and reasons to buy can increase sales significantly without only resorting to margin reducing offers.
Capitalising on the trend
Many stores use “standard” price tickets and signage and do not have the capability to easily create signage that explains why the product is different, it’s connection to the community and location specific reasons to buy. They are therefore missing the opportunity to increase sales without damaging margins. But, things are changing. With price becoming less of a differentiator and many customers getting overwhelmed with too many offers there is a significant trend to think local, act local and be regarded by shoppers as local.
To make this work stores need the capability to easily produce a range of store specific marketing and point of sale materials with a solution that can be self funding. If you would like to know more about how this can be achieved Contact us.