Reacting to Retailer demands
Is the Belgium retail landscape bursting? Delhaize is pushing lower prices and Colruyt is forcing lower prices. The tension has gone so far as to see a quarrel erupt between Colruyt and Pepsico and the manufacturers products temporarily delisted as a results of price drop refusal.
How can you convince the retailer your price and promotion strategy works for them, you and the category?
Focus on competitive switching : knowing which products switch with which when on promotion will help to build the vision of value generated by your prodcuts
Upgrading: the value of the category must be in mind, show your customer that your products generate higher worth
Price elasticity: show the retailer real results of price fluctuations, and how they impact switching behaviour
Focus on retail switching. Blanket solutions don’t work, use tailored approaches to avoid losing value when the shopper goes from one retailer to another
Show them how well your brands expand the category, the true winning element of promoting
Convincing the retailer requires hard facts. A data driven approach means you are armed with the most comprehensive information to back up propositions.
If your company doesn’t effectively measure and manage promotion performance now is the time to start. Call Accuris to learn about how to track your volumes and understand where they have come from.