Retail is the end part of every supply chain. The supply chain starts from acquiring raw material and ends on retailers store to consumer hands. This dawn of online era has split the retailers into two categories either online or brick and mortar based retailers.
So are you a manufacturer of any food and beverage product in India? And wandering how it will reach to your customer then you must read this article till end.
Here we have discussed various retail channels benefits and most effective retail channel strategy. Retail is most crucial step of sales all your money and effort will go into vain if your product is not sold. So in this sales process it’s very important to correctly judge the retailers and frame retailing channel strategy accordingly. So that the flow of your food and beverage product doesn’t gets blocked. As it will also affect your production and cause huge loss.
First of all you need to understand all the types of retail channels options. This retail channels selection is crucial as it will decide the way you will reach to your target goal.
Stores: types of retail stores are warehouse store, departmental store, clothing store, discount store. Here retail sales occur customers come and buy goods and here there is immediate Satisfaction of the customer needs. But the customers don’t get a lot of options for products as he could buy only those products that are available in that particular store.
Online: it’s a vast medium through which we could sell our product to customers globally. Here low cost shipping now days don’t adds burden to customer. The product range is vast and customer can on their need customise their searches and get the products according to the needed specification. Only the demerit is that sometimes fraud can occur and instant satisfaction doesn’t occur.
Catalogues direct sales: this is more advanced type where we provide detail information through mails or website. Customer can order directly through their phones and online medium. Here we have the advantage of seeing the product real image, how it looks and its visual details. It also helps consumer in deciding the purchase product.
Television home shopping: here consumer is offered product through cable and broadcast television, including infomercials and home shopping network here the sales through internet is excluded. Here consumer is showed in real scene how the product works via audio visual medium.
Due to availability of various retail channels purchasing goods became easy as the availability of goods will increase so will be the sales. Every retail shop has sales person and while shopping online we have customer care service available in form of instant chats and popups that is why catalogues contains descriptive information and troll free numbers for giving guidance and clearing doubts related to products .
Advantages of selling goods through retail channels
Reach: The retail channel extends the geographical reach of your product. You can either set your own sales team to cover the area and reach the maximum potential of sales or take helps of us to achieve the same. By using existing retail channel we can quickly and easily get the grip on the market just some modifications in plans and strategy would be needed. That also our team will take care of.
Customer: additional consumer base could be acquired by dealing with customers smartly and this also doesn’t require any extra investment. There are a large number of consumers visiting stores and various retail outlets to purchase the product .here if a customer is satisfied then there is more probability that he will attract more customers by mouth promotion.
Selling: retailing is important as it allows the manufacturer to concentrate on production of goods only without getting distracted from making effort to interact with consumers and sell them goods. This also encourages the retailers to train and make sales team who can promote and support the sales of the product. These services by the retailers to the consumers contribute in the sales of the product.
Marketing: using the joint sales force of marketing team and retail channel can boost your marketing campaigns. Retail channel also helps in marketing as their strong network in market. They can distribute your brand products in the area where you can yourself not reach. Hence marketing and retail channel team hand in hand can work together to achieve the target.
So choosing retail channel is certainly very important as it will decide your leadership in market. So in this case either you can yourself make a retail channel or take help of our team. We here offer you with exclusive service of helping you to form a strong retail channel and provide you with the best suitable retailers with the best strategic location. We also build strategies which would not affect supply chain and ensure smooth flow of business.
If you want to reach your customers and prospects efficiently than having a strong retail channel strategy is most efficient option if you are having small consumer base and want to expand your operation area and get more customers smart retailing is must. We have guided many company and helped many of them to reach to heights. With our exclusive service of evaluating the best suitable retail channel strategy framed for you we assure your market leadership here are some basic retail channel strategies
Types of retail channel strategies
Multichannel: it’s one of the most advanced channel strategy and had set back the older and traditional retail marketing methods. Its major aim is to unite the individually working single channel shopper. But there is no synchronicity between the consumer experience and promotion.
Benefit of multichannel retailing strategy is
- Easy implementation
- It increase the ability of customer to buy
- It’s a preliminary retail channel strategy and lays ground for more advanced channel strategy.
Cross channel: its one step ahead of multi-channel retailing. Here we communicate to our potential customers via various media channels whether it is offline store promotion, phone messages, emails . It also aims to drive all the scattered customers at different places and convert them into sales. This often needs to be synchronised between various channels by collaborating with multiple departments.
Benefit of cross channel retailing strategy is
- We can make consistent brand appearance
- Even if user switches device or channel he can get the same product
- It leads to better brand experience and hence maintains consumer loyalty
Omni channel: though its bit similar to cross channel retailing but Omni channel retailing is more consumers centric. It takes care of every kind of interaction of customer with a brand and its product. With most sophisticated artificial intelligence technology it could be known about the next purchase of consumer. This data could be integrated and sent to retailers. This could help the manufacturers in getting ahead in competition. So Omni channel retailing is the best and most advanced of all.
Benefits of Omni channel retailing strategy is
- Provides best brand experience
- Focuses on increasing revenue
- Helps in unifying marketing strategy
We can help you to identify more and more strategy and bring you more critical insights needed to drive you’re in store sales and bring better cross channel brand recognition brand reputation and brand experience.