GfK - An NIQ Company’s Post

As consumers seek affordable ways to more comfortable living, increased product returns must be processed efficiently with recommerce as a viable revenue stream. Check out our latest infographic, highlighting commonly reported issues by consumers following a recent Which? report. https://lnkd.in/ePdW7bqN #smalldomesticappliances #productreturns #reverselogistics

𝗨𝗻𝗱𝗲𝗿𝘀𝘁𝗮𝗻𝗱𝗶𝗻𝗴 𝗠𝗔𝗣 𝗣𝗿𝗶𝗰𝗶𝗻𝗴 𝗶𝗻 𝗮 𝗖𝗼𝗺𝗽𝗲𝘁𝗶𝘁𝗶𝘃𝗲 𝗠𝗮𝗿𝗸𝗲𝘁 The world of retail is dynamic and cutthroat, where pricing can make or break a brand’s image and its bottom line. Here's where MAP (Minimum Advertised Price) comes into play—a strategic defence mechanism for brands. 🛡️ So, what's MAP pricing all about? 🤔 It's a policy set by manufacturers or brands specifying the lowest price a retailer can advertise their products for sale. This isn't about setting the checkout price; it's about maintaining a product's perceived value and preventing a race to the bottom in advertising. Think of MAP as the guardian of a brand’s prestige. It's not just about keeping prices at a certain level; it's about safeguarding the brand's image, ensuring fair competition among sellers, and maintaining healthy profit margins across the supply chain. 𝗪𝗵𝘆 𝗱𝗼𝗲𝘀 𝗠𝗔𝗣 𝗺𝗮𝘁𝘁𝗲𝗿? For brands, it prevents price wars that can tarnish a premium image. For retailers, it ensures a level playing field where they can compete on service and value, not just slashing prices. And for consumers, it provides assurance that they're getting genuine value for their money without the confusion of fluctuating prices. Here's how you can effectively implement a MAP policy: 𝟭. 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗧𝗵𝗼𝗿𝗼𝘂𝗴𝗵𝗹𝘆: Analyze the market and set a MAP that reflects your brand’s value. 𝟮. 𝗟𝗲𝗴𝗮𝗹 𝗕𝗮𝗰𝗸𝗶𝗻𝗴: Collaborate with legal experts to draft a solid MAP policy. 𝟯. 𝗘𝗱𝘂𝗰𝗮𝘁𝗲 𝗥𝗲𝘁𝗮𝗶𝗹𝗲𝗿𝘀: Communicate your MAP policy clearly to all your retailers to avoid confusion. 𝟰. 𝗠𝗼𝗻𝗶𝘁𝗼𝗿 𝗖𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲: Use advanced software tools to track advertised prices and ensure adherence to your MAP. 𝟱. 𝗕𝗲 𝗖𝗼𝗻𝘀𝗶𝘀𝘁𝗲𝗻𝘁: Apply your MAP policy uniformly across all retailers to maintain fairness. 𝟲. 𝗔𝗱𝗷𝘂𝘀𝘁 𝗪𝗵𝗲𝗻 𝗡𝗲𝗰𝗲𝘀𝘀𝗮𝗿𝘆: Keep your MAP policy responsive to market changes and update it regularly. Remember, MAP isn't about limiting growth; it's about driving sustainable, value-based growth that benefits everyone involved—brands, retailers, and consumers alike. Are you considering implementing MAP pricing? Have you seen the positive impact of a well-structured MAP policy? Share your thoughts and experiences below! #RetailStrategy #BrandValue #MAP #PricingPolicy #MarketCompetition #RetailMarketing #BrandProtection #FairPricing

Understanding consumer behavior is key to boosting sales in the fresh produce industry. Optimizing store layouts can significantly influence purchasing patterns.

Prepare for peak with Carlton!📦🚛 As peak season approaches, we're here to ensure you're fully supported with everything you need to thrive. ✅Product stockholding with fast delivery: You'll never have to worry about running out of essentials when demand spikes. ✅Consumer insights with InsightLoop: Our cutting-edge insights portal provides valuable consumer data to help you stay ahead of market trends and make informed decisions. ✅Sustainable & bespoke packaging: Our eco-friendly and customisable packaging solutions will impress your customers and reduce environmental impact. ✅A hassle-free online ordering portal: It's easier than ever to place, track and report on your orders, saving you time. We're here to streamline your operation, reduce costs and increase productivity - contact us today at [email protected] #PeakSeason #PeakDemand #Ecommerce #Retail #Fulfilment

⭐⭐⭐⭐⭐ David from Long Eaton Appliance & Kitchen Company Ltd has described their partnership with PriceShape as a “𝘚𝘶𝘤𝘤𝘦𝘴𝘴 𝘪𝘯 𝘵𝘩𝘦 𝘜𝘒.” David Rowland was asked what he likes best about PriceShape and answered: “𝘞𝘦 𝘩𝘢𝘷𝘦 𝘣𝘦𝘦𝘯 𝘶𝘴𝘪𝘯𝘨 𝘗𝘳𝘪𝘤𝘦𝘚𝘩𝘢𝘱𝘦 𝘧𝘰𝘳 𝘴𝘪𝘹 𝘮𝘰𝘯𝘵𝘩𝘴, 𝘢𝘯𝘥 𝘵𝘩𝘦𝘺 𝘩𝘢𝘷𝘦 𝘮𝘢𝘥𝘦 𝘢 𝘩𝘶𝘨𝘦 𝘥𝘪𝘧𝘧𝘦𝘳𝘦𝘯𝘤𝘦 𝘵𝘰 𝘰𝘶𝘳 𝘣𝘶𝘴𝘪𝘯𝘦𝘴𝘴. 𝘖𝘶𝘳 𝘳𝘦𝘷𝘦𝘯𝘶𝘦 𝘪𝘴 𝘶𝘱 𝘢𝘱𝘱𝘳𝘰𝘹 20 %. Johan 𝘩𝘢𝘴 𝘣𝘦𝘦𝘯 𝘰𝘶𝘳 𝘊𝘶𝘴𝘵𝘰𝘮𝘦𝘳 𝘚𝘶𝘤𝘤𝘦𝘴𝘴 𝘔𝘢𝘯𝘢𝘨𝘦𝘳 𝘢𝘯𝘥 𝘩𝘢𝘴 𝘣𝘦𝘦𝘯 𝘳𝘦𝘢𝘭𝘭𝘺 𝘩𝘦𝘭𝘱𝘧𝘶𝘭 𝘸𝘪𝘵𝘩 𝘩𝘪𝘴 𝘢𝘥𝘷𝘪𝘤𝘦.” David also mentioned that working with a new tool takes time to understand, but they have gotten all the help they need, making the onboarding process fairly simple 🤗 “𝘗𝘳𝘪𝘤𝘦𝘚𝘩𝘢𝘱𝘦 𝘩𝘦𝘭𝘱𝘴 𝘶𝘴 𝘴𝘵𝘢𝘺 𝘤𝘰𝘮𝘱𝘦𝘵𝘪𝘵𝘪𝘷𝘦 𝘰𝘯 𝘵𝘩𝘦 𝘪𝘯𝘵𝘦𝘳𝘯𝘦𝘵 𝘸𝘪𝘵𝘩 𝘰𝘶𝘳 𝘱𝘳𝘰𝘥𝘶𝘤𝘵𝘴.” #pricingtool #ecommerce #competitive #revenue

Did you know you can create a custom shopping list of your regular items, and with just one click add everything straight to your cart? No more time wasted on reordering the same products over and over. It's just one of the many ways to streamline your ordering processes with Coles for Business.    Try it out today and make your business shopping more efficient! #ColesForBusiness #TimeSaving #BusinessShopping #Efficiency

Pricing Strategies for Retail Success! Struggling to find the sweet spot between maximizing profits and attracting customers? This article by AlicePOS dives deep into effective retail pricing strategies, helping you optimize your pricing model for long-term success. Discover how to: - Understand customer psychology and price based on value perception. - Implement competitive pricing strategies to stay ahead of the curve. - Leverage dynamic pricing to adapt to market fluctuations. - Craft effective promotions that drive sales without sacrificing margins. Ready to unlock the power of strategic pricing? Head over to alicepos.com and learn how AlicePOS can help you streamline your pricing strategy and boost your bottom line! #retailpricing #profitability #alicepos

Staying profitable while appealing to sale shoppers isn’t easy, especially during BFCM! That’s why we're excited to share the on-demand recording of Searchspring's latest webinar, where Starshipit's very own Kelynn Renals joined the panel to dive into proven strategies for keeping profits strong this season and beyond.   Catch expert insights from the panel around:   📊 Smarter discounting and tiered pricing to drive sales without cutting margins 🚦Driving high-quality traffic that’s more likely to convert 🔍 Boosting AOV with enhanced search, personalisation, and merchandising tricks 📦 Shipping tactics to reduce cart abandonment and improve margins 💸 Recovering margins with post-sale flows, smart product repricing, and targeted upselling   Packed with profit-driven tips, this webinar is one you'll want to catch up on! 🔗 https://lnkd.in/guR4e9Ds Kelly+Partners Accountants | KOOKAI Australia

Think eCommerce is the only way forward? Think again. With 70% of retail sales still happening in physical stores, it's time to elevate your real estate game. Our E-book reveals insider tips and expert strategies to for optimizing the full retail real estate life cycle today. Are you ready to thrive in 2024? https://bit.ly/436dL5B #RetailRevolution #accruent

🎉🎁 Exciting news! We just published a new blog article that's packed with tips for gift shop owners looking to boost their sales in a challenging economy. Don't miss out on this valuable advice! Read now. #SmallBusinessTips #RetailMerchandising #GiftShopMarketing 📖👀 https://lnkd.in/gw3m_-Zu