TNG BLOG

Retail that gets it right

Posted by Anita Baldwinson on September 18, 2018
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Being part mind-reader, part strategist, helps

So much is in the news about how retail is stumbling, sinking, closing and shuttering. It is true. There are many dying retailers. As times change and customer demands evolve, retailers must keep up or stay ahead. Actually, the successful retailers are the ones that anticipate what their customers want before the customers know themselves – part mind reader, part strategist all wrapped in the most enticing of packaging.


Merchandising Hot Toys at Retail

As a retail provider, whether a big box or small boutique, staying relevant demands that you pay attention. Much goes into this: product mix, customer service, availability, presentation, pricing. Nothing new in that list. What is new...the fierce competition for every consumer dollar in a field of easy access for the same products and the ability to shop from the comfort of home. Couple that with less than stellar in-store experiences, and it is no wonder the bricks and mortar stores struggle. As a shopper, I often leave stores in frustration – lack of merchandise, customer service without authority to ‘make things right’ or products without prices marked causing check out delays. These are common experiences. You have to wonder if store leaders actually shop in their own stores.

It is not all bad news


There are retailers that are thriving in these times. Target just posted its best numbers in a decade! Kohls, Ulta, Athleta, Dollar General, and Ross Stores are among those that are doing well. Though private, Wegmans and Publix are strong performers. Many retailers today aim to appeal to the millennial market, some with great results.

As for Target, their aim in 2018 was to create a shopping experience that makes their customers smile. Certainly, creating a shopping ‘experience’ is creating success for those retailers that operate with that goal, and those that don’t adapt are the ones left behind. Look around your own neighborhood. It is easy to see.

Today, product mix matters more than ever. Part of creating a shopping experience has to do with creating a ‘hunt and find’ feel for consumers. That may translate into a bargain price, an unusual or local specialty item or something all together unique. This creates an element of fun and surprise and more importantly, cements a repeat customer.

Store within store concepts are starting to pop up as well, appealing to those shoppers that want that experience and to bring back the joy of shopping. Supermarket News recently featured an interesting showcase of a retailer and their store redesign. Click here to view.

It may seem like a tall order – creating fun experiences while providing new and interesting product offerings, but it is our business to help you, whether that's moving your product from point of origin to the point where it will sell, TNG is your go-to partner to make this happen. Your success is our success.

Sources: 

The Street “Retail Earnings Roundup: Millennial Power Is at the Heart of Getting It Right”

CNBC “Ulta, Gap, Target and more: These retailers are still opening stores in 2018”

“Design & Innovation” page at Target.com

Hard Lessons (Thanks, Amazon) Breathe New Life Into Retail Stores – Michael Corkery, Sept 3, 2018

Supermarket News: “Alberta Grocery Chain Gets a New Look”

Topics: Distribution, retail re-alignment, front-end management, product cut-in, resets, product movement, logistics, delivery, DSD, trends, millennials, Merchandising, general merchandise