Inside a store are products by the hundreds, thousands, or even tens of thousands—all neatly aligned, attractively packaged, and looking for a good home.
Shoppers stroll by, and the moment of truth arrives: Which products will be unavailable, which will be ignored, and which will win the attention (and dollars) of shoppers?
Although there may be many reasons products fail to impress shoppers, below I present 7 possible reasons retail shoppers aren’t buying your products.
1. Your products simply aren’t there
You can’t win at anything if you don’t first show up. And in the fiercely competitive contest for shoppers’ dollars, some products are, well, no-shows. That is, they’re out-of-stock. As reported by RIS News, retailers lose a staggering $93 billion a year to out-of-stocks.
2. Your products aren’t where you think they are
Other times, your products are available, but they’re misplaced in stores. That product that’s supposed to be on the main aisle is actually languishing on Aisle 17. One study found that only 41% of store displays fully complied with company specifications (source: POPAI).
3. Shoppers can’t see your products
Maybe your products are in stock and in the “correct” place, but shoppers don’t notice them because of where they’re placed on shelves. They could be situated too low or in a "blind spot." Or perhaps a rival (and substitutable) brand enjoys superior shelf positioning and is thus easier for shoppers to see and reach.
4. Your in-store marketing isn’t being properly executed
Brands spend as much as $1 trillion on in-store advertising and other efforts to “shape the in-store customer experience” (source: Pando). But to ensure your POP marketing is making money and not just spending it, the retailer’s execution of that display, sign, coupon dispenser, etc. must be on target.
5. Shoppers are seeing the wrong price
Shoppers can be remarkably sensitive about price, something brands and retailers well know. And a seemingly small pricing mistake can cost a brand sales both now (because the shopper thinks, "I didn't want to spend that much today") and in the future (because the shopper has the wrong idea about your product).
6. Your would-be customers are lost
There’s sometimes disagreement between where shoppers think a product ought to be, and where it’s actually placed in the store. A scary thought: Purchase-minded shoppers can’t find your product and, consequently, are vulnerable to rival brands or substitutable product categories.
7. Rival products have a better in-store strategy, execution
Competing products are simply doing it better.
They “own” the prime real estate in stores and on shelves; they have in-store marketing and execution down to a fine science; they consistently monitor the performance of retail partners and competitors.
In short, your products aren’t selling because theirs are.
The Solution? Greater Knowledge
Thankfully, you're not defenseless against these problems. With greater knowledge of what’s actually happening inside stores, companies can vastly improve their retail strategies and in-store executions.
Mobile Audits are a fast, convenient, cost-effective way to get closer to your products, customers, and retail operations. To learn more about the capabilities of Mobile Audits, download the free resource entitled, “How It Works: Mobile Audits.”