The COVID-19 pandemic started in December 2019 in China and strikes India in late January 2020, which stagnant the whole world and eventually affecting everything from the economy to each individual's life. It has locked almost 1/3rd of the total population indoors.
The pandemic has done devastation across the globe, and it's still not over yet. Till now, globally, there have been over 35 M confirmed cases, more than 1 M deaths, and almost 25 M recoveries. In India, there have been more than 6 M confirmed cases, over 100 K deaths, and more than 5 M recoveries.
In the retail world, Planogram holds a lot of value and importance. It’s one of the basic entities that retailers around the world use to improve sales. So, let’s understand what it is:
Brick & Mortar as we know is coming to an end. We’re in the middle of a resurgence. Yes, a resurgence of new retail, where impressing shoppers & creating shopper experience takes precedence for brands, products, distributors, retailers, and retail stores.
Prior to the eCommerce boom, CPG manufacturers and big-box retailers dictated the decisions in the market. But now, in 2019, as we enter into a new decade of innovation, that’s no longer the case. …
A CPG company should define its execution strategy based on the trade channels & their sub-channels. Predominantly, there are three trade channels that should be considered: Traditional, Modern, and On-Premise. It’s a known fact that product categories may flourish in one trade channel while they fail to thrive in another. So, a clear understanding of each trade channel is a prerequisite.
CPG manufacturers spend many hours in research and production. After long hours of production, they should have an effective product distribution strategy to bring their products to the target customer.
If a product is unavailable at the right store and at the right time, it will affect a brand drastically. It may lead to their customers’ distraction to a rival brand, or it may affect the other SKUs of the brand. So, when, where, and how you distribute your product plays a vital role in the entire retail execution process.
In our last article about Kirana, along with its classification, we emphasized the dominant role it plays in the Indian retail industry and the giant bullseye it carries, which is targeted by retail corporates of all sizes. Everybody wants a piece of this potential $1 Trillion Kirana trade. However, the sector itself is unorganized. Though we agree that there is beauty in chaos, we also nod in consensus that order brings stability and higher returns. Moreover, there is only one thing that signifies Order in retail, and that is Retail Execution.
The primary difference between Big Box or retail chain…
For as long as India can remember, Kirana stores are the go-to destinations for groceries, quick snacks, stationery, healthcare, beauty care, clothing, and many other products. From a child purchasing a pen/pencil to a family purchasing their monthly provisions, these stores are hubs for multiple trade transactions in a day.
“12 Million Stores & $700 billion market size — the strength of Kirana.”
They control & command 90% of the entire retail market. For quite long, National & Global retail giants have tried to compete with Kirana, and they have fallen short. And now, they are looking at ways of…
For decades, CPG companies are implementing retail execution on a daily basis, some manually and some by using technology. As we speak, the transition from manual to automatic continues from west to east and small to big brands — thanks to all the revolutionary retail technology innovators. However, even with all the innovation and transition, many CPG manufacturers and distributors still explore the perfect execution strategy for their brand.
Only 28.5% of respondents agree/strongly agree that they have the tools they need to make appropriate decisions. — POI 2019 State of Industry Report Stat
More than ever, retail execution is…
“Time is Money” an age-old truth that field representatives have lately forgotten. A 2018 survey of 700+ field reps revealed critical insights into the usage of their daily work-time. As shocking as it is, 61.7% of their time is spent on unproductive activities with only 38.3% left for selling.
According to the US Census Bureau, the average salary of a field rep is $31,395 per annum. The compensation that equates to 61.7% is approximately $19,370. This calculation is for one field rep. If you have ten field reps, then it raises to $193,700. That’s a lot of wasted money.
POPProbe is a retail execution solution, helping brands across 3 continents in achieving in-store success.