Get Ranging Right
20 October 2015
Ruth Cousins, Marketing Executive, him!
Meeting the ‘needs of the shopper’ is undeniably at the centre of driving footfall in any convenience store. We have just heard from 20,000 shoppers and a whopping 4 in 5 said that “a range of products to meet my needs” is important.
With lack of space being a sizeable disadvantage for convenience stores, it is essential for retailers to understand these needs in order to get range right in a small space. Supermarkets are able to offer a much wider range than convenience stores; therefore it is critical that ranging in store is on point! However this is no easy feat, 58% of people view having a range of well-known brands as important when deciding which convenience store they choose, a figure in line with those shoppers at supermarkets (60%)!
There are a number of different factors to contemplate when deciding on range at any specific store. With 58% of at home mums rating value options as important and 21% of child-free couples rating premium options as the same, it is essential to know your shopper and endeavour to cater for them. Region should also play a substantial role when deciding on range of products. 70% of London shoppers say ‘health’ is an important factor when choosing products to purchase vs. the CTP average of 49%.
Whilst it is hard to ignore the increasing demand for a range of fresh fruit and vegetables in UK convenience stores, it is not necessarily an appropriate option for all retailers. Most stores have very limited space available for these displays and such short shelf life SKUs can be a risk. Only outlets with high Top-Up and Meal for Tonight mission mixes should consider offering such a mission.
The needs of shoppers are ever changing, therefore it is important for retailers to continually review their product range in store. An impressive 63% of retailers say they review their product range at least once a fortnight. But getting on to the shopping list is not always easy, 64% of symbol retailers say customer demand is the biggest influencer for purchasing. However, a still weighty 36% say price-marked-packs are highly influential to their purchases showing that there is room for influence in depot!
Remember, whilst shoppers rate range as an important need when shopping in convenience stores, it is always important to know your shopper, sometimes when you’re limited on space – less is more!