Marketing in retail
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IKEA is looking for a perfect location in India between 5-15 acres that is close to a highway with good visibility and public transportation. The CEO of IKEA India said an ideal location meets these criteria. Retailers face challenges in remaining loyal customers without discounts. The managing director of Shoppers Stop said discounts now make up 22% of their sales, up from 15% three years ago, and discounting periods have increased from 34 to 45 days, which is not a good sign. In-store sampling can increase sales of sampled products by up to 300% on the day of the promotion.
Marketing in retail
- 1. Marketing in Retail Business Out-of-store & In-store Group 9
- 2. Out-of-store
- 3. "An Ideal location for us would be 10 acres space (it could be between 5-15 acres), close to a highway with good visibility so it is not three kilometers inside and with public transport infrastructure" Juvencio Maeztu, IKEA's India chief executive IKEA ready to wait for years for perfect locations: CEO Rasul Bailay & Chaitali Chakravarty, ET Bureau May 16, 2013, 10.07AM IST
- 5. Wooing consumers without discount is a major challenge: Govind Shrikhande, Shoppers Stop By Sagar Malviya, ET Bureau | 22 Aug, 2013, 05.00AM IST Sale (on discount) is becoming a mechanism now, which is not a good sign. In the last three years, discounting period has gone up from 34 days earlier to 45 days now. Till four years back, discounts contributed 15% to our total sales. It has increased to 22% now.
- 7. Window Displays, Interactive social media, Mobile Apps
- 9. In-store
- 12. Did you know that in-store sampling can increase sales of the sampled product by as much as 300% on the day of the promotion?
- 13. Mannequins on the 珂看厩艶
- 15. Cross-selling, Gift vouchers & Everyday Low Prices
- 16. the Store without a door
- 17. Store layouts & In-store announcements
Editor's Notes
- #14: Mannequins impactcustomers by giving them a look to aspire to. Mannequins are great for showing just how certain garments can be worn. A research was conducted based upon the mannequin displays in the retail stores. According to the results, consumers seem to have a more positive perception of color display, design, appearance. Consumers perceiving the displays positively and feels that it is creating a new sense and life style by providing complete visualization.Lighting, props , garments. Show different stylesCarnivals to make people stay longer in the stores. So, that they move around and explore the items on offer.Contests are organized by different brands within stores, or outside malls, to showcase their products as well as make the potential customers a use the product once. Gifts given out by the brands to the winners help in brand recall.Gift vouchers to regular customers and for referrals increase customer loyalty to a large extent. Even though the value may not be large, the recognition is what matters.