The basis of comparison include: description, demand, customer interaction, lead time, customer fulfillment, production range and flexibility among others. With the commissioning of our 100,000 packet/8 hours instant noodles plant, we urgently require a Modern Trade Sales Executive to join our busy sales team. In specific instances, it has been observed that the modern trade in India is as low as 50 per cent of the Western world on the inventory turns metric. Take advantage of cross-merchandising strategies and impulse sale opportunities. As a result, the sector has seen continued increase in sales, driven by higher shopping frequency and steadfast shopper loyalty despite modern branded formats opening up in less urbanised areas. Various analysts and industry reports suggest that modern retail trade will see more than a six fold increase in revenues over the next five years. The age where the portly gentleman at the cash till knew what you wanted and made sure it was available to you is slowly going away. Offer value-added services and products. Vend’s Excel inventory and sales template helps you stay on top of your inventory and sales by putting vital retail data at your fingertips.. We compiled some of the most important metrics that you should track in your retail business, and put them into easy-to-use spreadsheets that automatically calculate metrics such as GMROI, conversion rate, stock turn, … Image by Ellen Lindner © The Balance 2020. Today, this is one of the major challenges in India. There is no “one size fits all” method for sales today. We’ve said it before, and we’ll say it again: One of the keys to achieving retail success is to be more data-centric. Currently, e-commerce is the main retail channel for the brand.“We also plan to create partnerships with distributors in these cities for a more personal approach,” said Rahul Aggarwal, Founder of Coffeeza. Remember, the customer is looking for an experience and not just a product. Task your store operations team to observe the shelves on a daily basis to identify items that are not displayed but available in the inventory. Use a unique promotional event to generate a buzz about your business. In each case there is a revenue leakage – and a negative impact on sales or profitability per unit area. To further increase sales in retail, consider converting your business from a simple store to a destination. Modern Trade also referred to as organized retail involves a more organized and coordinated approach to distribution and logistics management. Oftentimes, the compromises between customer fulfillment and staying profitable are tricky and non-intuitive. Most retailers only celebrate the national holidays like July 4th or Christmas. If you are a clothing boutique, you can use a slow afternoon to offer personal shopping services … This is now in the realm of the possible. But attracting new customers is not the only way to increase your sales. To handle existing & new Modern Trade accounts; Existing accounts - Palace, Game, Maxmart, Compughana & Sogha. Other trade sales promotion methods include trade contests, which are contests that reward retailers that sell the most products, and point-of-purchase displays, which are used to create the urge of “impulse” … Person will report into the Sales and Marketing manager and responsibilities will be as follows: • Do the items you stock deliver the best possible sales and profitability metrics? Obviously, you want them to go up. This implies that smart planning; efficient operations and supply chain management alone has a huge scope of growth that can address consumer demand without the need of aggressively opening more stores. Sales coaching is a valuable opportunity to develop the sales force. Just when you may think it's time to cut back the marketing dollars, you should … This sales KPI measures the increase or decrease of your sales revenue on a … Studies in the western world have shown that 72 per cent of stock-outs in modern retail are attributable to faulty in-store ordering and replenishing practices and the remaining 28 per cent are attributable to the planning and supply issues in the supply chain. -Practicing Open Communication, Trust, Respect and Honesty to all Modern Trade Team Member -Close coordination to Sales Admin for Sales Order to assure Processing of Sales Invoice -Close coordination to Secretary (Issues / Problem) -Product Display Analysis Store check per Branch / Check and Balance Report from Supervisor Henry Vogel of the Boston Consulting Group likes to remind clients that raising prices by 1 per cent can boost profits by up to four times as much as a 1 per cent cut in overheads and fixed costs. Customers are more used to a digital, high-tech world, and while this does not mean you have to over-complicate your business, it does mean your customers will come to expect a customer experience that comes with the ease of a technology-backed business. -Weekly Sales and Distribution Analysis every week -Practicing Open Communication , Trust , Respect and Honesty to all Modern Trade Team Member-Close coordination to Sales Admin for Sales Order to assure Processing of Sales Invoice-Close coordination to … Company profile Vision: To be a premium global conglomerate with a clear focus on each business. Start your process of identifying your ideal customer by making a list of all of the benefits that your customer will enjoy by using your product or service. Doing so gives you a leg up on online retailers that may offer lower prices, but lack that community feel. We accomplished this by partnering with a local charity and creating an event in our store. Remember, an energetic store is a magnet. But when they see stuff out front, it draws their attention and that can create traffic for you. Your social feeds are buzzing. Create a mailing list by asking for contact information from each customer. Consistency can be achieved in your operations by a judicious selection of solutions and a systematic implementation programme. A recent BCG study on the Indian retail sector indicates that the sales throughput (sales/ unit area) is 20 per cent of that of international retailers. Constantly increasing sales in a travel company is the number one focus of any travel agency manager. Leverage Inbound Marketing and Sales Strategies. To increase the ease of purchasing -- which is critical to conversion and customer retention -- implement a robust B2B eCommerce platform and automate the fulfillment process as much as possible.. It is now a well-established idea that forecasting and inventory turns are closely connected. Sell more drinks. This old but good idea has been around as long as retailers have. For example, we did a weekend event in February (usually a dead month for us) that had our stores as the drop-off point for baby care products like diapers and lotions to be used at the local shelter. Job Requirements: - More preferably to sales executive experience in Modern Trade - Good experience Sales (Modern Trade Channels) and product competitor analysis - More Focus on Modern Trade Channel (Supermarket selling & promotion) - Able to dealing with modern trade all category channels But, some traditional methods are still appropriate for modern businesses. 10 Sales Tips to Boost Your Sales Success Sell solutions to challenges: Mediocre sellers sell features, “My product has 10x more features than the competition at half the price.” Or, “I follow this 8 step process to evaluate your business processes. Businesses who purchase from you want to believe they have the right vendor at the right time for the right price. Mission: To deliver superior value to our customers, shareholders, employees and society at large. Does this mean the stores are empty? How often do you go into a modern retail store to be told that what you are looking for is out of stock? in association with: table of contents 3 introduction 3 key findings 4 top goal: efficient marketing technology 5 new metrics: vanity metrics don’t make the grade 8 new media habits: connecting with consumers on their turf 10 new markets: a future in china 10 driving value and growth 11 methodology 11 acknowledgments … Responsible for Primary Sales & Secondary Sales at all outlets; Responsible for handling sales coordinator & promoters at all modern trade outlets Grasim Industries 2. Of course, the problem also exists in reverse – over stocking of items that are not really in demand. Establish triggers on exceptions to notify the store manager about restocking the item back on display before declaring a stock out. In such a scenario, given a highly competitive, crowded market like India, what can the retail industry do? How to Find New Customers and Increase Sales: Sell More to Existing Customers In order to increase sales, many businesses believe the only way is to find new customers, but a … Access our comprehensive range of tools, services and advice designed to help you save time, reduce cost and build sales. Values: – Integrity – Commitment – Passion – Seamlessness – Speed Grasim Industries So why wait for the big holidays? Granted the only connection was that shoes and burgers are both made from cows, but making an event out of it drew a lot of people. Involve all of the senses in your visual merchandising. In our view, this situation reinforces the need to determine a ‘good’ assortment coupled with better/automated techniques to manage orders and inventory. To increase your B2B wholesale sales, you need to cultivate loyalty to increase customer lifetime value, while attracting new customers through promotions and referrals. Filed Under: Sales Tagged With: modern trade, modern trade vs, retail stores, retailing, traditional trade, traditional trade vs About the Author: Olivia Olivia is a Graduate in Electronic Engineering with HR, Training & Development background and has over 15 years of field experience. For example, if your customer is going on a city tour of Madrid, offer lunch and dinner options to go along with it. The competition is rough and plentiful – and new travel agencies are popping up as you’re reading this. 2) Clearly Define Your Customer Target a new demographic: Identify other groups who could also use your product in similar ways to your initial target audience. Play videos for product education, customer entertainment and any other upsell or promotional tie-in. Our earlier articles have demonstrated how hiring of trained manpower and investment in training the in-store staff can greatly improve customer experience in the store – shorten waiting time, returns, etc. Increase Sales With Less Effort . We know for a fact that floor space (or real estate) is the single largest infrastructural or fixed requirement in the retail industry. If you’re looking to increase your restaurant’s sales, try investing your time and money in these ideas for more personalized, effective and modern ways to increase restaurant sales. As POS systems become more advanced in their functionality, they make it possible for retailers to offer many different methods of payment options from NFC to even cryptocurrency-based payment processing measures. You have a blog. America has one of the world’s highest rates of coronavirus-19, or Covid-19, infection, and therefore is less productive and more needy than most countries are, during the coronavirus […] Whether it's due to forces beyond your control like the city tearing up the street in from of your store or seasonal sales dip or a decline in foot traffic, all retailers will experience a slump in sales at some point. As the industry grows and matures, the focus will slowly but surely shift to the sales per unit area metric. You would need to define the operational process frameworks in a manner that promote customer responsiveness and improves her experience rather than making the purchase cumbersome. So how do you maximize sales at trade shows and exhibitions? Creating sales through Modern Trade Channles 1. America has one of the world’s highest rates of coronavirus-19, or Covid-19, infection, and therefore is less productive and more needy than most countries are, during the coronavirus […] If you are a retailer, it's inevitable — sales will slump. Of course, if every dealer knew the best ways to increase car sales, there wouldn’t be a multi-million dollar industry based on teaching salespeople tricks of the trade. Grasim Industries 2. Increase sales. Use lighting techniques and creative displays to attract customers. Excellent customer service is the key to increasing sales. Often times, if it was really slow, my stores would move merchandise outside. The stores are stocked with merchandise that do not sell as expected – an inefficient use of expensive floor space. A somewhat similar approach has been taken by retailers in the Western world – Walmart, Macy’s and Kmart. Customers who see a flurry of activity from you and then periods of silence know you are only online because sales are down. Mission: To deliver superior value to our customers, shareholders, employees and society at large. One of the best ways to increase car sales is to give customers reasons to interact with your dealership regularly. Enter the sidewalk sale. Hyperlocal start-ups commit and fulfill customer orders in under an hour. Bob Leduc retired from a 30-year career of recruiting sales personnel and developing sales leads. All Rights Reserved, Expert Speak: Increasing sales in modern retail trade. Creating sales through Modern Trade Channles 1. To get latest insights on retail business and more such articles, Success Story: Max India, democratizing everyday fashion, Size Does Matter: 5 biggest shopping malls of India, 17 luxury fashion retail brands Indians love, Stepping into a bigger, better future: A report on India’s footwear market. The levers that influence pricing are demand, competition, substitutes and cannibalisation. Subscription service Trade Coffee said it has seen a 10x increase in new subscriptions. Create a holiday of your own. On shelf availability is simply the ability of the retailer to provide the desired product (or SKU) when and where the shopper wants it. Social Media In today’s world fulfilling your customer’s expectations is an increasingly complex process. Here are 10 awesome strategies to help you increase your B2B sales in 2021. He is now a Sales Consultant. Every one of those agencies is fighting for their piece of the cake, every one of those agencies would like to be selling more than they currently are. Collect information about your customers methodically and work on a fulfillment approach that gives her the maximum return on her time. When 87% of training content and information is forgotten … The easiest, most cost-effective thing you can do is social media. It is also true that the competition for real estate is the strongest in the urban centres. Addressing this dimension is in your control – with the right set of tools and solutions. Featured Resource. In each of these areas, technology is playing a central role. Store atmospherics, store layouts and planogram and in store customer service have the largest impact on consumer buying patterns, as per a study published in 2014. Once you’ve identified a new market, you can … 1) Offer Online Ordering. 5 Marketing Tactics to Increase B2B Sales Increasing B2B sales isn’t simply a matter of putting out your shingle and hoping that more customers will come your way. Homepage. Question to Ask When Opening a Retail Store. B2B sales is unique, which means your strategies should be unique as well. Modern Trade has a market share of 9.2% in overall FMCG sales. Perry advises that “in-store promotions are a key element of a successful brand, and without them the brand will fail.” By mindfully utilizing pricing offers and in-store displays, companies can maximize profits and accrue loyal customers. 10 Ideas for Training Meetings for Your Retail Store, 5 Ways to Increase Christmas Sales for Your Retail Store, How to Survive Peak Sales and Holiday Shopping, What Retailers Should Know About Keystone Pricing, Tips for Retail Managers to Make an Effective Schedule for Employees, Here is How a Marketing Calendar Can Increase Retail Sales, 5 Community Involvement Tips for Retailers. Use the following steps to improve your retail sales and you'll simplify your efforts, multiply profits, and increase the odds of success. The key, though, was that the ad was as much a sales motivator as it was a branding play. One great way to do this is to use remnant advertising. 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