NEWS | HOW RETAIL MARKETING AFFECTS SHOPPER BEHAVIOUR
Retail marketing refers to how brands promote their product in-store. It’s one of the more challenging aspects of marketing because it requires brands to build strong relationships with consumers in a short period of time, while simultaneously trying to convince them why they should pick up their product over the one next to it.
A retail marketing strategy is any method of in-store activity that helps spread awareness and increase product sales and profitability. The store layout, product size and location, and social media presence are all a part of the retail marketing plan and should be considered when deciding what visual merchandising tool will align to use.
A good retail marketing strategy connects brands to their target audience before, during, and after a purchase has been made:
The goal of retail marketing is to get new customers into your business and retain them for the long run. Whether it’s social media, SEO, partnerships, or paid advertising, they are all tactics to drive revenue for your business before the shopper steps foot in-store.
In-store marketing refers to any promotional activities that take place inside your store, like a floor display or custom product packaging. It promotes products to customers and provides them a comfortable experience. In-store marketing, in other words, focuses on engaging customers as they go through the shopping journey.
A business’s first sales are great, but what’s really important is getting repeat customers. A study found that you can increase your profits by up to 95%.if you’re able to successfully boost customer retention by 5%. Creating a loyalty program, sending out feedback surveys, or including branded promotional products in your campaign are a few retail marketing strategies that improve customer loyalty long after the purchase has been made.
Marketing in retail is even more important given how competitive product categories are and the fact that products on supermarket shelves have less than 3 seconds to grab shoppers attention. This means that retail markers must think carefully about all the touchpoints a customer will have with the brand or product while inside the store. It’s not always about which product is “better,” but which brand provided the better shopping experience.