Retail Marketing

We are passionate about Retail marketing - Agency Novelus

Retail Marketing

We help retail companies grow. We are passionate about retail marketing.

Retail marketing

Retail Industry Marketing

RETAIL INDUSTRY STATISTICS

The reality of retail is the ongoing change.

 

Retail markets have a quite old history. Over the time, retailers transformed from simple small booths to the huge shopping malls we see today.

 

Current market trends and changes push the retailers to be more flexible. So, since they operate in an environment of fragmented needs, demanding consumers, and always changing distribution and communication channels, retail companies need to have their finger always on the retail market’s pulse.

 

Furthermore, new online players (webshops) are quite influential in terms of price strategies and therefore, significantly changing the retail game.

 

On the other hand, sustained economic recovery continues to bolster the development of retailing.

 

So, the latest statistic results about retail sector show positive climate for growth:

 

  • According to Eurostat notes, retail volume increased by 3.1 % at the annual level in the Euro area in 2017.
  • The largest group of employees by profession in the EU-28 in 2016 are employed in the area of personal services and sales, representing 9.5 % of the workforce or 21.4 million people.
  • By statista.com, total global retail sales in 2020 are projected to amount of 28 trillion U.S. dollars.

COMMERCIAL vs. RETAIL MARKETING

The retail industry is covering numerous business sectors, from food stores, clothing to car parts and filling stations. Needless to say, each segment has its own quirks. Of course, these differences between industries translate to the marketing strategy, as well.

 

Besides incorporating retail industry segment characteristics into our retail marketing strategy, at the same time we consider specific retail marketing goals. So, we make the difference between commercial and retail marketing.

 

Namely, commercial marketing is pitching goods to the consumers. The goal is to develop a relationship between the customer and the product. We achieve this by creating a brand identity with which the consumer can relate.

 

On the other hand, retail marketing has a smaller scope. It is limited to retail products. Moreover, retail marketing always focuses on selling to individuals and not to wholesale or business customers.

Retail Marketing

Retail marketing, as a group of activities,  that firstly promotes brand awareness and grows sales. So, marketing activities in retail are organized around product, placement and presentation, pricing strategies and promotion.

 

Additionally, marketing used in the retail sector differs from other types of marketing due to the specific components of the retail trade.

 

For example, fast-moving consumer goods need different marketing strategies in comparison to the marketing strategies for the investment products.

 

So, the understanding of the product categories and the consumer behavior is of the immense importance.

Retail marketing best practices

We consider the product, placement and presentation, price, and promotion when choosing the right retail marketing strategy.

 

On top of that, we discovered that in marketing tailored for retail it is very important to:

 

  • give your customers a reason to go to your store – “shoppertainment”,
  • focus on how you sell your products,
  • pay attention to details,
  • be locally relevant, and
  • tell your story offline and online, visually and through activities.

 

For the successful implementation of our marketing strategies specially created for the retail industry, we employ our solutions and skills of media buying, social media and digital marketing.

 

So, if you are not using the proper retail marketing techniques it is time to step on this moving train and start enjoying the benefits of it.

Read more about Retail Marketing and more on our Blog

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Summary
Retail Marketing Solutions
Service Type
Retail Marketing Solutions
Description
We offer specialized retail marketing solutions to our clients.