We’ve been in the business of designing and manufacturing retail POP displays for nearly 30 years so our natural starting point for generating product sales is creating effective retail point-of-purchase displays and compelling in-store merchandising programs. Since the majority of purchase decisions continue to be made in-store, we believe a central focus of product marketing should continue to be captivating and capturing the customer at the point of sale. We recognize, however, that the retail landscape has changed dramatically over the last 5 years so despite the fact that brick-and-mortar stores continue to account for the majority of retail sales, we believe it is increasingly important for brands to take a holistic approach to product marketing that includes both Point of Sale and online components. In the first of this 2-part series, we will address the Point of Sale part of product marketing, and then we’ll cover the online component in our next blog.
Securing and then supporting retail distribution for your product is the most critical aspect of Point of Sale marketing. Having a well formulated merchandising strategy and program can often make the difference in getting a retailer to give your product a try. It’s not enough just to have a new, innovative product. The retailer needs to be convinced that your product will stand out in the retail environment, turn quickly, and perform well against target sales per square foot performance metrics. We write frequently about how to create effective POP displays and how to orchestrate winning in-store marketing programs so that is not the focus of this blog. Our only point here is that effective in-store merchandising programs can help a brand or product company by: (1) securing retail distribution, (2) maximizing product sales once you have secured distribution, and (3) providing brand awareness and product exposure that can help drive online sales.
So a thoughtful merchandising program is a necessary component of a holistic approach to product marketing, but in and of itself, it is not sufficient. In our next blog, we’ll discuss the online marketing component and how it works synergistically with Point of Sale marketing.
Jim Hollen is the owner and President of RICH LTD. (www.richltd.com), a 35+ year-old California-based point-of-purchase display, retail store fixture, and merchandising solutions firm which has been named among the Top 50 U.S. POP display companies for 9 consecutive years. A former management consultant with McKinsey & Co. and graduate of Stanford Business School, Jim Hollen has served more than 3000 brands and retailers over more than 20 years and has authored nearly 500 blogs and e-Books on a wide range of topics related to POP displays, store fixtures, and retail merchandising.
Jim has been to China more than 50 times and has worked directly with more than 30 factories in Asia across a broad range of material categories, including metal, wood, acrylic, injection molded and vacuum formed plastic, corrugated, glass, LED lighting, digital media player, and more. Jim Hollen also oversees RICH LTD.’s domestic manufacturing operation and has experience manufacturing, sourcing, and importing from numerous Asian countries as well as Vietnam and Mexico.
His experience working with brands and retailers spans more than 25 industries such as food and beverage, apparel, consumer electronics, cosmetics/beauty, sporting goods, automotive, pet, gifts and souvenirs, toys, wine and spirits, home improvement, jewelry, eyewear, footwear, consumer products, mass market retail, specialty retail, convenience stores, and numerous other product/retailer categories.