What is retail marketing

When talking about retail marketing, it refers to all those activities aimed at facilitating the exit of goods from stores, that is, the increase of sell-out (the so-called "sold out").

These are sales promotion activities practiced by commercial distribution companies (the tool through which manufacturing and distributing companies bring goods and services to the market).

In essence, they are those marketing strategies practiced by the retailer, that is, the retailer who sells directly to the final consumer through one or more points of sale.

Retail marketing allows for improving customer attraction, guiding customer purchases, and leveraging marketing tools, which start from assortment and lead up to merchandising.

Types of Retail Marketing

Retail marketing aims to stimulate the consumer to purchase a specific product.

Retail marketing is distinguished into:

• Independent retailers: multi-brand stores;
• Department stores: large retail establishments;
• Franchise stores: with independent owners and store chains (GDO); 
• E-commerce stores.

Retail marketing plays a vital role in ensuring good market positioning, interpreting and guiding consumer needs.

The 4Cs of retail marketing are more SEO friendly

In recent years, to the 4Ps of the marketing mix, new strategies have been added that are linked to retail marketing: the 4 Cs of Marketing: Consumer, Cost, Communication, and Convenience.

• Consumer: an important factor regarding retail marketing is considering the consumer's perspective on the product. This strategy focuses not only on the product one wants to sell but also on the needs of the clientele, thus it includes understanding customer needs in order to attract them and satisfy their necessities;
• Cost: it's necessary to consider the costs involved in capturing the customer's attention and offering consumers a product that is either better or more affordable than the competition.

competition;

Convenience: a new digital concept that concerns, for example, the convenience of completing a transaction or the ease of having indicative information about a particular product before proceeding with its purchase;

Communication: represents a series of retail marketing techniques that use strategies such as storytelling, copywriting, and all those techniques that help the company understand who its potential customers are. 

Retail marketing strategies: how to improve sales in your store

There are various strategies and tools to improve a store's sales and, consequently, also its profits.

The most commonly used techniques are:

• Offering discounts and promotions for limited periods: yields positive results and encourages customers to return to your business more often and to also purchase products that are not on sale. Moreover, it's important not to have merchandise on sale 12 months a year, as it would be counterproductive for the company;
• Strategically placing products: is a strategy that targets the visual elements of a consumer regarding the placement of a product in a supermarket or shopping center. Placing small-sized items with a relatively high cost near the checkout counter to encourage customers to buy these last-minute items. If they are products expected in a new collection, placed under specific lighting or at the forefront on shelves. If instead, you want to

 selling discounted products one can choose to use specific signage to attract customer attention;

Loyalty programs: fidelity programs:  to achieve a loyal customer base, it is important to create a loyalty program that will allow obtaining discounts and exclusive offers;

Training employees for sales: employees play a very important role in a retail setting and it is necessary to train them to sell better, assist the customer in deciding what to buy, and create a relationship with customers to make them return for future purchases.

In conclusion, retail marketing is the sale of products and services at retail focusing on the desires of customers, leveraging certain strategies to generate higher profits and start a successful business.