On day two of ISP and BMI, speakers addressed upon the point that the increasing salability of products not only depends on good results but also on placing the products at the right location or shelf at stores. Speaking elaborately on this, retailers and brand owners like Parikshit Sharma, COO of New U (Dabur), Gopal Asthana, Business Head-Women’s wear and Non-apparels of Shoppers Stop, Prashanth Srinivas Murthy, AVP- Buying of Lifestyle, Anthony Rodriguea of Baccorose, Shahzad Qaudir, CEO of Presto Industries and Rizwan Ahmed, CM- Marketing of Streax Pro discussed various methods that needs to followed by brands and retailers in order to make a product sell well.
“Brands should be price effective and value-oriented. Along with them, the retailers through whom the brands retail should also focus on display and visual merchandising. This helps a product sell in a much better way,” said Parikshit Sharma. Adding further, Sharma said that brands and retailers should appoint beauty consultants or advisors at their counters in the stores, so that they strike a conversation with the customers regarding the benefits of the product and making them buying it.
Apart from having good products, brands should also engage programmes and campaigns that will lure customers to buy products. Citing an example on how a brand at Mantri Square Mall, Bangalore experienced a growth in sales by 30 percent during an awareness programme, Sharma said, “Innovation and marketing add value to a product. If a brand wants to avail the best shelf space in a large format store, it needs to offer added services to the customers.”
Speaking about the retailer’s role in marketing a product, Prasanth Srinivas Murthy added, “A retailer demonstrates commitment to the brand by providing them space at their outlets. The retailers should make it a point to provide the customer a good shopping experience and present products well at their stores.”
Adding further to this, Rizwan Ahmed said that brands should also give importance to the packaging of products to make them more consumer-friendly.