the top pointers
Brand is sold in the minds of consumer before the real transactions takes place – Multi brand retailer should select the right SKUs in the stores to keep the footfall stable, if not increasing month on month
Sell the Experience first – brands should concentrate on experience and not on products only. We are into the Experience economy, and retailers must understand the under current benefits of creating an experience for customers first.
Add value to service that comes along with the products. Do not charge for the value added services (VAS) upfront
Define the job of the product – Brands or Retailers should understand and define clearly why customer will buy the product and what is the purpose it would solve when they pay to hire the product or service. Once it is defined. customers will come to your stores
Technology can work wonders – use of digital platforms to engage customers can help to pull customer in your stores. Don’t worry about competition from e-commerce of the world, leverage technology around the product strengths