In-store merchandising programs that align with prominent sporting events can reap long-term wins for retailers and CPG brands. March Madness and NBA playoff promotions may run for a few weeks only, but they have year-round benefits. Let’s look at a few.
In-store merchandising is a profits magnet
Products selected for seasonal or promotional merchandising typically come with higher built-in margins. Sports and event-based merchandising leads to higher sales and even higher margins and profits. Make your selections thoughtfully and be ranked #1.
In-store merchandising is a customer magnet
Build on the excitement surrounding March Madness or the NBA playoffs with your in-store merchandising. A sports merchandising program is a perfect way to rekindle the excitement of your existing customers, to reach out to lost customers and to acquire new ones. A customer who is excited and engaged is more likely to develop a long-lasting loyalty towards your brand and stores.
In-store merchandising is a franchisee magnet
A dynamic brand not only attracts customers, it also attracts potential franchisees. Tournaments are social events and the perfect time to roll-out promotions that play-up this socializing aspect and generate buzz. Multi-unit retailers often spend considerable resources – dedicated websites and trade-shows – attracting new franchisees. Franchisees-to-be are more likely to invest their life savings with an exciting brand than with one perceived to be dull and stale.
In-store merchandising is a great time for cross-selling
Teamwork is necessary in Basketball. CPG brands can garner a slam-dunk by collaborating with retailers and benefiting from the merchandising efforts of other CPG brands. Who can ignore the large tournament and playoff-themed snack and soda displays? Cross-selling creates long term benefits as pairings become associated with game-day traditions.
In-store merchandising plays a large role in the short and long-term success of a retailer and/or CPG brand. However, just like basketball, strategy is useless if it is not well-executed. To be successful, retailers and CPG’s need to ensure that programs are executed in full from tip-off until overtime. Ensure issues are addressed promptly and satisfactorily. And lastly, make sure you have the necessary process, workflow and software to communicate, audit and report on the state of merchandising execution in your stores.