FMCG and Consumer Service Trade Marketing needs to deliver memorable experiences for maximum reach and revenue this festive, and beyond. To be successful, they need to:
- Be everywhere (omnichannel)
- Be customer-centric
- Be agile
- Be innovative
While peak-trading seasons like Black Friday and the Festive Season are great opportunities to engage consumers and drive sales, the ultimate objective is winning long term brand loyalty and cementing outlets as destination retailers of choice.
1. Be Everywhere (omnichannel)
Today’s buyer journeys are not linear. Consumers may browse online and confirm stock before purchasing in-store. Conversely, they might see something they like in-store and then move to price comparison online before purchasing. There are numerous potential touchpoints as they move from awareness, to consideration, to evaluation, and finally, purchase.
The retailers and brands who win will take careful account of where and how consumers learn about and purchase their products. They will endeavour to meet consumers in varied channels throughout the buyer journey – online, in-store and out-of-home. They will tailor their approaches according to channel and phase of buyer journey.
That means using Below-the-Line (in-store promotions, out-of-home brand activations, experiential events) in conjunction with traditional Above-the-Line advertising and digital marketing.
Learn how to adapt your trade marketing strategy to evolving consumer buyer behaviour to maximise sales and win brand loyalty.
2. Be Customer-centric
Consumers are not only more price sensitive, but their priorities have changes. COVID made us all more cognisant of our health and financial wellbeing. Shifting priorities result in shifting brand preferences. The brands who succeed will be the ones that step up and deliver experiences and product portfolios that meet consumers’ changed circumstances and priorities.
Indeed, major brands are already taking action to meet these priorities. The Deloitte Health & Wellness report found that members of the global Consumer Goods Forum are making ‘steady progress’ in the implementation of the body’s Health & Wellness Resolutions and Commitments. Tiger Brands’ Eat Well, Live Well programme, for example, helping consumers make better choices about food.
‘Conscious consumerism’ is another trend slowly taking hold in South Africa. According to a study by Euromonitor International 34% of South Africans reported buying sustainably produced items. 49% make use of sustainable packaging and a further 32% (compared to 24%, globally) donate to NPOs that support and protect the environment.
And brands and retailers are taking note.
Woolworths have committed to ZERO nett carbon emissions by 2040 (a decade ahead of deadline). All Woolies food outlets are now plastic bag free and, in June 2022, Woolworths announced that it will be the first South African retailer to embark on an extensive rollout of electric panel vans. According to the figures from a trial, this has the potential to save 700,000kg of tailpipe carbon emissions, per annum.
3. Be Agile
If the last few years have taught us nothing else, its that no one can take the status quo for granted. Or anticipate the long-term impact of global events like the Pandemic on consumer sentiment and behaviour. Many predicted that mass adoption of ecommerce necessitated by national lockdowns would spell the end of in-store shopping. But it turns out that we humans enjoy shared experiences and immersion in the physical world.
Consumer brands and retailers need to ensure that they are able to adapt and adjust quickly to changes in the marketplace. And that they maintain a finger on the pulse of changing consumer behaviour if they are to remain competitive.
4. Be Innovative (and get Phygital!)
Reaching today’s consumers is not about an either/or, or a better or worse approach to digital and physical marketing strategies. The brands that come out on top will likely be the ones that succeed in marrying these two worlds for maximum reach.
Stores should evolve to incorporate new digital capabilities including dynamic displays, electronic shelf labels (ESL), automated check-outs, and augmented and virtual reality experiences.
Innovators will consistently look for ways to create memorable physical experiences that are digitally sharable. Getting this right will mean all the benefits of last-mile engagement with shoppers at POS, with the reach and scale that comes with digital.
Peak trading periods present brands with a great opportunity to reach consumers en masse as they descend on shopping malls. But beyond peak, it’s a chance for brands to showcase their value as it relates to the changing needs and priorities of target consumers. Where those values align, and those needs met, is where sales are won, and long term brand loyalty, secured.
At Tradeway we specialise in Trade Marketing activities geared to deliver not only awareness and influence, but market insights, too. We specialise in Brand Activations, Events, Promotional Marketing and Field Services. All underpinned by proprietary technology that delivers real time results and insights.
Learn how to Maximise Reach and WIN Customers this Peak and Beyond!
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Introduction Black Friday signals the beginning of the festive season frenzy. In the world of retail and consumer goods, that means one thing—opportunity. And not