Retail Marketing: what it is
Retail marketing is a branch of marketing that aims to increase sales of in-store products and create value for customers by directing purchasing behavior. It is achieved through a set of practices and tools to differentiate the offer from the one from the competitors and improve customer loyalty to the point of sale through the choice of commercial brands, the assortment of products, prices, and promotions. Only by interpreting the needs and expectations of consumers, possibly even anticipating their needs, is it possible to achieve the sales and profitability objectives of the stores.
Retail Marketing: how it is done
How is retail marketing done? First, by relying on modern digital systems for product management and rotations. Specialized applications help to improve the assortment in stores by allowing wider catalogs and flexibility in modifying the mix of products according to changes in demand. An important aspect of retail marketing is the qualification of the point of sale achieved through the choice of branded products and the positioning of the business in the desired quality-price quadrant. Modern systems help to define the most suitable sales and promotion policies to compete with competitors and guarantee the margins imposed.
Category Management
Among the methodologies at the service of retail marketing, category management helps to give more visibility to products based on the potential interest of consumers. Categories are not used to group similar goods, but products, which are often very different, and that become complementary in purchasing behavior. An aspect that correlates with the optimization of the profitability of the exhibition spaces and in-store communications. Even in these aspects, collecting sales data and processing them analytically is invaluable in supporting motivated, faster, and more effective decisions.
BinHexS: who we are
With IT expertise and a global network of partners, BinHexS can support customers in the installation and support of servers, clients, networks, cash systems, and in-store POS of large retail networks spread on an international scale. BinHexS takes care of hardware and software installations, upgrades, employee training, and telephone helpdesk services with 24×7 continuous coverage.