Maintaining and growing your market share is an important measure of success. You want to ensure customers are able to find your products the first time, every time, without any obstacles getting in the way.
Because your retailers have a limited amount of space, you only have a certain amount to market and sell your products. Several on-shelf factors can help you maximize sales, including the number of product facings, shelf height and even order of arrangement.
Companies like Unilever and Pepsi are leading their markets by monitoring and increasing their share of shelf brand presence. Continue reading to find out how you can too.
1. Product Placement Goes a Long Way
You know that products aren’t placed randomly throughout stores. And efficiently placing your products on the shelves of your biggest retailers can be difficult! But it gives you the brand presence and awareness you need to grow your business.
Here’s what you should consider when it comes to placing your products:
- Shelf level: Is your product standing right in front of your customers? Make sure your product is positioned on the right spot of the shelf. This can help you boost sales.
- Special displays: Get creative. Utilize end caps, self-standing displays, and dump bins for great ways for your brand to stand out.
- Facings: Review how many shelf positions can your brand or SKU have in-store. How can you re-strategize your product presence?
2. Pay Attention to Space to Sales
Space to sales represents the amount of sales per share of shelf. Giving it attention is a great way to compare multiple different product performance over products that have inconsistent levels of distribution.
National brands are likely to have more product facings on a shelf versus mom-and-pop brands. Here’s the good news: you can still compare how the two brands perform by dividing their sales by the amount of space the brand takes up on the shelf to calculate space to sales.
For example, if a national brand generates $100 per inch on the shelf across 5 facings, but a local brand generates $200 per inch across only 1 facing, the local brand sells less but is more efficient than the national brand for the amount of space it’s taking up. The key is to get your product to stand out.
3. Track How Your Products Are Working on the Shelf
You depend on your retailers to effectively present your products in-store to best appeal to shoppers. But so many manufacturers have few opportunities to discover how their products actually appear.
Your retail execution is centered on product availability, placement, pricing, and promotion. If you use a data aggregation platform, you can have same-day product distribution data to quickly pivot and win over your share of shelf. Not only will you be able to quickly spot consumer trends, but you can fix problems in every single outlet that matters to you.
4. Pinpoint New Growth Opportunities
The more you’re able to keep track of your brand presence, the more you can identify new ways to scale the sales of your products.
If you keep track of product placement with up-to-date consumer data, you have more time to strategize new ways to market your brand, reach more shoppers, and work with your retailers on optimizing your distribution.
Have frequent communication with your suppliers to ensure product shipments are coming in time and that there’s enough shelf space to carry your brand. If your retailers are telling you that your products are performing consistently better, you can work with them to figure out how you can quickly expand your market share.
Try Out Best Practices
Real time data can help you measure your success. In store insights and sales data provide actionable answers to the big questions that stand in the way of your business’s growth.
Unlock how you can get actionable insights that can streamline business growth. Contact us to learn more.