How effective is your in-store communication?
Retail stores rely on headquarters for daily communications, from announcements, directives, surveys, tasks and in-store marketing planograms. Without clear direction, stores spend more time getting things done and often struggle to be compliant, especially when it comes to executing their planograms. Communication can affect a store’s ability to execute on time, accurately, and can also impact profits.
Stores today often receive multiple messages sent through multiple channels. What seems like instant communication often translates into confusion as messages get lost without any trail or ability to track.
Research carried out by Traitech.com provides us with vital stats in the retail industry. The data below only shows the headquarters level responses and not store or field level. And through this data, we can see that merchandising and compliance is a common issue amongst retailers.
Improving communication pays…
Repairing communication between headquarters and stores can greatly improve compliance: An NARMS benchmark study showed that 100% reset compliance can mean a sales lift of 7.8% and a profit improvement of 8.1% within two weeks. Achieving this increase means reviewing how communication flows and how it can be streamlined into one channel.
Out with the old, in with the smart...
Today, retailers are dealing with legacy systems such as Excel and PDFs to relay very important campaign messaging. These tools can no longer keep up with the speed of business. Stores are in need of a system that allows them to relay messaging, share campaign materials, personalize information per store, and track progress all in real-time. With a clear of communication between headquarters and stores, compliance will be achieved and time will be better used for both campaign and merchandising as well as customer management.