Edward Garner’s piece, ‘Retailers need alternatives to price cuts’, reinforces what we are hearing in the market. For most retailers, selling on lowest price is not an option. So what to do instead?
How about ensuring the basics are good. Over 90% of stores visited in a Pierhouse survey had products without price tickets on their shelves, which can cut sales by up to a third. Also, use ‘tickets that sell’ - that give shoppers the information to make a decision at the shelf edge. Retail needs to redefine its plans by listening more to shoppers and marketing to them at the point of decision.
Malcolm Wicks, marketing director, Pierhouse Business Solutions