Shopping for customers, competition for market

With a cut-throat competition among the too many grocery owners, it has become difficult to retain the same amount of customers. When it comes to the daily use or personal care shopping, every other local or branded store offers these products. So, what decides the preference of the consumers?
Branding and execution?
Availability of favorite brands?
Cordial relations with the store-owner?
According to a survey conducted by Ipsos, an expert company in the area of market research, very few customers favor sticking to one store for grocery shopping. The report also showed that consumers often visit multiple stores to grab the best deal. Also, they tend to choose different stores for different types of buying. Quite perishable products like meat and vegetables may compel the customer to buy more from a particular shop.
Going more into the details, another survey conducted by Boston Consulting Group (BCG) and Confederation of Indian Industry (CII), states that Food is the largest retail consumption category in India. Staples, dairy, fruits and vegetables account for nearly 66 percent of food expenditure amongst consumers. It also revealed that although shopping in India is usually led by women of the family, the other members also join in. The study was conducted between 4,000 customers. Location, relation with the store-owner and arrangement of the commodities were some other determinants for the buyers.
Thus, we suggest that ideally a grocery store should brand itself in a fashion that appeals to all segments of the customers; be it the kids or the middle-aged man or the college goers! While the branding has to be understood by a large target audience it still has to be memorable and convey the ideas and messages of your brand. The target audience of the store will depend on the product assortment, the general cost of the product and location.
Through a proper market study, the retailers must try to include as many product brands as possible and arrange them in the most organized manner (by the type of the product or by brands) in the store. Label the store section. Display small or more expensive products such as chocolate within the reach near the cash counter. Besides, a strategic location and maintaining healthy relations with the consumer will surely help the grocery. Guide your customer secretly with the instore navigation to build up the pleasant memories of the shop interior and service, let them come again.
0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *