Have you ever wondered what actually drives sales in physical and online stores? The truth is, how easily your products fly off the shelves is basically the same in the physical and digital world – availability, share of shelf, visibility, sales support and so on – but what do those principles look like in practice?
Reports are highlighting not just how much shopping is done online and on mobile but also how much less people shop in physical stores. What sounds like an opportunity for online sales isn’t as simple as many think. The same things brands practice to ensure product visibility in physical stores now also need to be taken online to ensure conversion.
That’s why more and more top global consumer brands are now allocating resources to enable them to take control of product visibility in their online sales channels – not just in physical stores. It’s no wonder. If we don’t work aggressively to optimise the key factors that affect sales – online as well as offline – product visibility will suffer, and you risk losing a massive amount of sales opportunities.
The key factors that affect how easily your products fly off the shelves are basically the same in the physical and online world – availability, share of shelf, visibility, sales support and so on – but what do those principles look like in practice in these different channels?
What drives sales in physical and online stores
You can’t leave product visibility online up to chance. You need to activate your resellers to help to maximise sales. That’s why mystery shopping, auditing and merchandising have been so important for decades. However, in times of digital transformation, those methods are not enough.
If you want to defend your position in the market and avoid losing sales opportunities across the board, you need cost-effective ways to take control of product visibility in your online sales channels.
Start by giving your products attention. Most resellers appreciate all the support they can get to improve product visibility. Keep one thing in mind though: just as in physical stores, they appreciate brands who speak for the whole category, not only pushing their own agenda.
Manufacturer/retailer collaboration is the key to success and, as we know from physical stores, there won’t be many category leaders. Category management thought leaders will run the show online as well, so use this window of opportunity to connect with your resellers.
Don’t be afraid to take charge of product visibility online. Getting started doesn’t have to be difficult if you remember what works offline. Plus, we’re here to help.